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DCP Taking 'Conservative' Approach to 2021 Volumes and Commodity Pricing


DCP Taking ‘Conservative’ Approach to 2021 Volumes and Commodity Pricing
Executives at Denver-based DCP Midstream LP said during their fourth quarter earnings call that they were committed to cost reductions, retiring debt and growing excess free cash flow in 2021.
In 2020, “We were able to navigate a double black swan event that eviscerated demand, plunged oil prices into negative territory and fundamentally changed the way we operate as a company,” said CEO Wouter van Kempen.
Total capital at the fully integrated midstream service provider, including all sustaining and growth capital, was reduced by 74% in 2020 compared to 2019.
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“We are taking a conservative approach to our 2021 volumes and commodity pricing outlook as a result of continued uncertainty driven by Covid-19 and demand recovery timing,” van Kempen said. “We are committed to continuing the momentum established in 2020 by growing excess free cash flow by over 60% in 2021, maintainin ....

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DCP Midstream, LP (DCP) Q4 2020 Earnings Call Transcript


Operator
Ladies and gentlemen, thank you for standing by, and welcome to Q4 2020 DCP Midstream Earnings Conference Call. [Operator Instructions]
I would now like to hand the conference over to your speaker today, Sarah Sandberg, Senior Director of Investor Relations. Thank you. Please go ahead, madam.
Sarah Sandberg
Senior Director, Investor Relations
Thanks Jeff, and good morning and welcome to the DCP Midstream fourth quarter 2020 earnings call. Today s call is being webcast and I encourage those listening on the phone to view the supporting slides which are available on our website at dcpmidstream.com.
Before we begin, I d like to point out today that our discussion includes forward-looking statements. Actual results may differ due to certain risk factors that affect our business. Please review the second slide in the deck that describes our use of forward-looking statements. And for a complete listing of the risk factors, please refer to the partners ....

United States , United Kingdom , Eagle Ford , South Africa , Western Cape , South African , Michael Blum , Tristan Richardson , Wouter Van Kempen , Sarah Sandberg , Gabe Moreen , Sean Obrien , Shneur Gershuni , James Kirby Jpmorgan , Spiro Dounis , Tristan Richardson Truist , James Carreker , Chris Tillett Barclays , Chris Tillett , Gabe Moreen Mizuho , Energy Conservation , Sean Obrien Group Vice , Credit Suisse , Wells Fargo , Earnings Conference , Senior Director ,

San Antonio banks weather the coronavirus pandemic


San Antonio banks weather the coronavirus pandemic
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Jeff Sinnott took over as CEO and president of Vantage Bank Texas in March, just as the coronavirus was taking hold.Vantage Bank TexasShow MoreShow Less
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Bruce E. Toppin III, a San Antonio attorney who represents banks in corporate and regulatory matters, said banks made “good, sound loans,” as opposed to chasing after any loan they could make.Courtesy photoShow MoreShow Less
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Broadway Bank CEO and President David Bohne said 35 percent of new checking and savings accounts are opened online.Kin Man Hui /Staff photographerShow MoreShow Less
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