Phillips 66 to acquire an additional 43.4% stake in DCP Midstream for $3.8bn.

Phillips 66, an integrated energy company, offered to acquire an additional 43.4% stake in DCP Midstream, a partnership engaged in the business of gathering, processing, transporting, storing and marketing natural gas, for $3.8bn. “We are delivering on our commitment to grow our NGL business. Our wellhead-to-market platform captures the full NGL value chain. As we continue integrating DCP Midstream, we are unlocking significant synergies and growth opportunities," Mark Lashier, Phillips 66 President and CEO.