Replies to post #153 on Phillips 66 (PSX)

[Timothy Smith]

He is loading the boat no doubt. This company will greatly outperform next few years.

[Timothy Smith]

Phillips 66 and Spectra Energy will be dropping down assets to DCP Midstream, a 50/50 joint venture between the two companies.

Phillips 66 will contribute $1.5B in cash while Spectra Energy offers up its share in both the Sand Hills and Southern Hills NGL pipelines.

This transaction was made to provide a financial boost to DCP Midstream which has been hurt from very weak commodity prices.

This deal also benefits DCP Midstream Partners, which is DCP Midstream’s MLP.