Entering text into the input field will update the search result below

DCP Midstream's (DCP) CEO Wouter van Kempen on Q1 2020 Results - Earnings Call Transcript

May 08, 2020 12:58 AM ETPhillips 66 (PSX), DCP.PB, DCP.PR.C30 Comments
SA Transcripts profile picture
SA Transcripts

DCP Midstream, LP (DCP) Q2 2020 Earnings Conference Call May 7, 2020 11:00 AM ET

Company Participants

Sarah Sandberg – Senior Director of Investor Relations

Wouter van Kempen – Chief Executive Officer

Sean O'Brien – Chief Financial Officer

Conference Call Participants

Gabe Moreen – Mizuho Securities

Spiro Dounis – Credit Suisse

James Kirby – J.P. Morgan

James Carreker – U.S. Capital Advisors

Shneur Gershuni – UBS

Jeremy Tonet – JPMorgan

James Carreker – U.S. Capital Advisors


Good morning, ladies and gentlemen, and welcome to the Q1 2020 DCP Midstream Earnings Conference call. At this time all participants are in a listen-only mode. Later we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host Ms. Sarah Sandberg, Senior Director of Investor Relations. Please go ahead.

Sarah Sandberg

Thanks, Carol. Good morning, and welcome to the DCP Midstream first 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 that our discussion today 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 partnership's latest SEC filings.

We will also use various non-GAAP measures, which are reconciled to the nearest GAAP measure and schedules in the appendix section of the slides. Wouter van Kempen, CEO; and Sean O'Brien, CFO, will be our speakers today. And after their remarks, we'll take your questions.

With that, I'll

Recommended For You

Comments (30)

Frank the Frowner profile picture
"And Wouter can talk through the Board strategy . . . "

"Yes. And I'm not going to talk through the Board strategy."

Well, I'm glad you guys are on the same page. Zero metric guidance, just volumes. They're saying the Permian exit will be down 20%, the Bakken worse, DJ not so bad. That seems to be in line with what PAA said, and implies maybe a 30% lower oil volume for the oil shale basins, in that range. Some were suggesting 8 Mbpd would be more realistic, which would be 40%, but just reading the various articles in the "energy press", it seems some sort of consensus is forming that the 2020 exit rate might be more like 10 Mbpd, which I think is too optimistic, but we'll see.

In any case, how the heck do you buy this with no guidance at all? Do the math for them based on their volume outlook? Is that even possible?
So, is this the tell that AR and AM are going to be winners?
Frank the Frowner profile picture
Well, the associated gas / NGL thesis is central to AR's future prospects, just read their Q1 comments.
News they would not provide guidance was not unexpected since that seems to be the new norm for some in this environment. I think anyone could buy or add to their position in the 7's and do well over the next 5-10 years...
To report an error in this transcript, .Contact us to add your company to our coverage or use transcripts in your business. Learn more about Seeking Alpha transcripts here. Your feedback matters to us!

About PSX

SymbolLast Price% Chg
Market Cap
Yield (TTM)
Rev Growth (YoY)
Short Interest
Prev. Close
Compare to Peers

More on PSX

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.