Spectra Energy President and CEO Greg Ebel Comments on Yesterday's Announcement by Its Affiliate, DCP Midstream

abarrelfullabarrelfull wrote on 08 Aug 2012 20:18
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Spectra Energy’s (NYSE:SE) President and Chief Executive Officer, Greg Ebel, commented on yesterday’s announcement made by DCP Midstream, LLC (“DCP Midstream to Double Capacity in Denver-Julesburg Basin”). DCP Midstream is a 50/50 joint venture between Spectra Energy and Phillips 66.

“DCP Midstream has an excellent natural gas liquids position in the Denver-Julesburg Basin, an area where new drilling technologies have significantly increased natural gas production. To meet increased infrastructure needs in the basin, DCP is planning to double its processing capacity in the region by the end of 2014. By building a one-stop services company – including gathering, processing, NGL transportation and fractionation services – DCP will provide producers with full value chain service to accommodate their aggressive growth plans,” said Greg Ebel, president and chief executive officer, Spectra Energy Corp.

“Yesterday’s announcement regarding its investments in the DJ Basin is part of a $4-$6 billion expansion effort under way at DCP Midstream. The additional gas-gathering, processing and NGL takeaway services in the DJ Basin will contribute to DCP’s earnings and support continued attractive cash distributions to its owners – which ultimately benefit Spectra Energy investors,” said Ebel.

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