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                              September 2, 2020

       Sean O'Brien
       Group Vice President and Chief Financial Officer
       DCP Midstream, LP
       370 17th Street , Suite 2500
       Denver , Colorado 80202

                                                        Re: DCP Midstream, LP
                                                            Form 10-K for the
Fiscal Year Ended December 31, 2019
                                                            Filed on February
21, 2020
                                                            File No. 001-32678

       Dear Mr. O'Brien:

              We have limited our review of your filing to the financial
statements and related
       disclosures and have the following comments. In some of our comments, we
may ask you to
       provide us with information so we may better understand your disclosure.

              Please respond to these comments within ten business days by
providing the requested
       information or advise us as soon as possible when you will respond. If
you do not believe our
       comments apply to your facts and circumstances, please tell us why in
your response.

                                                        After reviewing your
response to these comments, we may have additional comments.

       Form 10-K for the Fiscal Year Ended December 31, 2019

       Item 7. Management   s Discussion and Analysis of Financial Condition
and Results of
       Operations
       Reconciliation of Non-GAAP Measures, page 71

   1.                                                   We note your
presentation of the non-GAAP measure gross margin. Please present a
                                                        reconciliation for this
non-GAAP measures in accordance with Item 10(e)(1)(i)(B) of
                                                        Regulation S-K. In
doing so, reconcile this measure to the most directly comparable
                                                        GAAP measures, i.e.
gross margin that includes depreciation, depletion and amortization.
                                                        If you do not believe
gross margin that includes depreciation, depletion and amortization
                                                        expense is the most
directly comparable GAAP measure, please tell us why in your
                                                        response.
       Item 7A. Quantitative and Qualitative Disclosures about Market Risk,
page 79

   2.                                                   Please revise your
disclosure to provide the quantitative and qualitative disclosures
 Sean O'Brien
DCP Midstream, LP
September 2, 2020
Page 2
         required under Item 7A of Form 10-K and Item 305 of Regulation S-K for
your natural
         gas trading and marketing and NGL proprietary trading. Your revised
disclosure should
         address, but not be limited to, the policies and procedures, internal
controls and risk limits
         used to manage your trading activities.

       In closing, we remind you that the company and its management are
responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review,
comments, action or
absence of action by the staff.

      You may contact Robert Babula, Staff Accountant at (202) 551-3339, or Gus
Rodriguez,
Branch Chief at (202) 551-3752 with any questions.



FirstName LastNameSean O'Brien                                  Sincerely,
Comapany NameDCP Midstream, LP
                                                                Division of
Corporation Finance
September 2, 2020 Page 2                                        Office of
Energy & Transportation
FirstName LastName