GulfTerra Commences Operations Of Phoenix Gas Pipeline In The Deepwater Gulf Of Mexico

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July 20, 2004

GulfTerra Energy Partners, L.P. (NYSE:GTM) announced that it has commenced operations of the Phoenix Gas Pipeline and recently received initial production from the Red Hawk field located in the Garden Banks area of the central Deepwater Trend in the Gulf of Mexico. The Phoenix Gas Pipeline is a 78- mile, 18-inch diameter pipeline originating in 5,300 feet of water at the Red Hawk cell spar in Garden Banks Block 876. The pipeline interconnects with the ANR Pipeline system at Vermilion Block 397 and is capable of transporting up to 450 million cubic feet per day (MMcf/d) of natural gas. The Red Hawk field is operated by Kerr-McGee Oil and Gas Corp., a wholly owned affiliate of Kerr-McGee Corp. (NYSE:KMG), with a 50% interest. Devon Energy Corporation (Amex:DVN) holds the remaining 50% interest. The Red Hawk cell spar has an initial capacity of 120 MMcf/d and can be expanded to a production capacity of 300 MMcf/d.

Since 2001, GulfTerra has completed a number of Deepwater projects, including the oil and gas export pipelines for the Typhoon Field development in the central Gulf of Mexico; the Falcon Nest platform and gas pipeline located in the western Gulf; and the Medusa gas pipeline located in the eastern Gulf. Most recently, the company commenced operations on its jointly owned Marco Polo tension leg platform and oil and gas pipelines located in the Green Canyon Deepwater corridor. GulfTerra is also developing the Cameron Highway Oil Pipeline system, the Front Runner oil pipeline and recently announced Constitution oil and gas pipelines.

"We are pleased to commence operations on our seventh deepwater pipeline in the Gulf of Mexico and another significant step in addressing the midstream infrastructure needs of offshore producers," said Robert G. Phillips, chairman and chief executive officer of GulfTerra Energy Partners. "We have noted that the Phoenix Gas Pipeline system is structured similarly to many of our other Deepwater infrastructure projects with reputable and experienced producers, a solid anchor field, a hub facility and a deepwater subsea tie-in point located just North of the Red Hawk Platform that can be used to connect future pipelines."

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