DCP Midstream LP

Has priced an underwritten public offering of 4 million of its 7.95% Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units at a price of $25 per unit. DCP also granted the underwriters a 30-day option to purchase up to 600,000 additional Series C Preferred Units.

DCP expects to receive net proceeds from the offering of approximately $96.1 million after deducting underwriting discounts and estimated offering expenses, and intends to use the net proceeds, including the proceeds from any exercise of the over-allotment option, for general partnership purposes, including the funding of capex and the repayment of outstanding indebtedness under its revolving credit facility.