{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-167475","form_type":"8-K","ticker":null,"cik":"0001338065","company_name":"DCP Midstream, LP","filed_at":"2023-06-15T23:59:59+00:00","discovered_at":"2026-05-14T18:03:38.497680+00:00","generated_at":"2026-06-13T23:53:37.378050+00:00","sec_items":["1.01","2.01","3.01","3.03","7.01","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Phillips 66 completes $3.8B acquisition of DCP Midstream at $41.75/unit","bullets":["Public common units converted into $41.75/unit cash; total value ~$3.8B.","Phillips 66’s economic interest in DCP Midstream increases to 86.8%.","Common units and Series B preferred units delisted from NYSE as of June 15, 2023.","Series B preferred units redeemed at $25.00/unit; holders receive redemption price.","DCP Midstream entered into a $1.0B unsecured revolver with Phillips 66 as lender."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-167475","json":"https://secwatch.observer/filing/0001193125-23-167475.json","markdown":"https://secwatch.observer/filing/0001193125-23-167475.md","text":"https://secwatch.observer/filing/0001193125-23-167475.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1338065/000119312523167475/0001193125-23-167475-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1338065/000119312523167475/d494691d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T23:53:37.378050+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1183c7aa32cd0a3b9fc357f6bb2b0c00b0743e22","claim":"DCP Midstream, LP underwent a change of control involving Phillips 66 Project Development Inc. and Dynamo Merger Sub LLC for $41.75 per Public Common Unit in cash (closed 2023-06-15).","evidence_excerpt":"as of immediately prior to the Effective Time (other than the Sponsor Owned Units, as defined below) (each, a “Public Common Unit”) was converted into the right to receive $41.75 per Public Common Unit in cash, without any interest thereon (the “Merger Consideration”). The Common Units owned by DCP Midstream, LLC and the General Partner (collectively, the","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1338065/000119312523167475/0001193125-23-167475-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"change of control"},{"label":"Counterparty","value":"Phillips 66 Project Development Inc. and Dynamo Merger Sub LLC"},{"label":"Consideration","value":"$41.75 per Public Common Unit in cash"},{"label":"Closing","value":"2023-06-15"}],"fact_type":"ma_transaction"},{"claim_id":"527b40ad2b79c32bad567613facc9c477f7ab0cd","claim":"DCP Midstream, LP entered into Credit Agreement with Phillips 66 Company valued at $1.0 billion (effective 2023-06-15).","evidence_excerpt":"On June 15, 2023, DCP Midstream, LP (the “Partnership”) and its wholly owned subsidiary, DCP Midstream Operating, LP (“DCP Operating”), entered into a Credit Agreement with Phillips 66 Company, as lender (the “Credit Agreement”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1338065/000119312523167475/0001193125-23-167475-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Phillips 66 Company"},{"label":"Value","value":"$1.0 billion"},{"label":"Effective","value":"2023-06-15"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}