Killajoules

DCP Midstream, Phillips 66 and Spectra Energy Announce Major NGL Pipelines in Service
DCP Midstream, Phillips 66 (NYSE: PSX) and Spectra Energy (NYSE: SE) today announced that the Sand Hills and Southern Hills natural gas liquids pipelines are in service. DCP Midstream, Phillips 66 and Spectra Energy each own a one-third interest in the pipeline entities.

Spectra Energy President and CEO Greg Ebel Comments on Yesterday's Announcement by Its Affiliate, DCP Midstream
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 Partners Completes Crossroads System Acquisition in East Texas
DCP Midstream Partners, LP (NYSE: DPM) announced today it has completed the previously announced $63 million acquisition of the Crossroads system from Penn Virginia Resource Partners, L.P. (NYSE: PVR). The Crossroads system acquisition, which is subject to certain customary purchase price adjustments, was financed at closing through borrowings under the Partnership’s credit facility.

DCP Midstream Partners Completes Dropdown of Interests in Mont Belvieu Fractionators from DCP Midstream LLC
DCP Midstream Partners, LP (NYSE: DPM), or the Partnership, announced today it has completed the previously announced $200 million dropdown of minority interests in two non-operated Mont Belvieu fractionators from the owner of its general partner, DCP Midstream, LLC. This transaction, which is subject to certain customary working capital and other purchase price adjustments, was financed at closing through borrowings under a term loan and the issuance of 1,536,098 DPM common units to DCP Midstream, LLC.

DCP Midstream Partners Announces Drop Down of Interests in Mont Belvieu Fractionators from DCP Midstream LLC
DCP Midstream Partners, LP (NYSE: DPM) or the “Partnership” today announced that it has entered into an agreement with DCP Midstream, LLC for the contribution of its minority ownership interests in two non-operated Mont Belvieu fractionators for $200 million. As part of the transaction, DCP Midstream, LLC will take approximately 30 percent of the total consideration in common units of the Partnership. The transaction is at an EBITDA multiple in-line with past transactions between DCP Midstream, LLC and the Partnership and is expected to close early in the third quarter.

DCP Midstream Partners to Expand East Texas Natural Gas Processing Business Through Acquisition of Crossroads Processing Plant
DCP Midstream Partners, LP (NYSE: DPM) or the “Partnership” announced today that it has entered into an agreement with Penn Virginia Resource Partners, L.P. (“PVR”) to acquire the Crossroads processing plant and associated gathering system, for approximately $63 million. The Crossroads system, located in the southeastern portion of Harrison county in East Texas, includes approximately 8 miles of gas gathering pipe, an 80 million cubic feet per day cryogenic processing plant, approximately 20 miles of NGL pipeline and a 50% ownership in an approximately 11-mile residue gas pipeline. This system will allow the Partnership to increase critical midstream services to producers that are expanding their liquids rich Haynesville shale and Cotton Valley drilling programs in East Texas.

Enterprise, Anadarko, and DCP Midstream to Jointly Develop New NGL Pipeline to Serve Colorado's Denver-Julesburg Basin
-Enterprise Products Partners L.P. (NYSE: EPD), Anadarko Petroleum Corporation (NYSE: APC) and DCP Midstream, LLC today announced an agreement to design and construct a new natural gas liquids ("NGL") pipeline that will originate in the Denver-Julesburg Basin ("DJ Basin") in Weld County, Colorado and extend approximately 435 miles to Skellytown, Texas in Carson County. Each party will hold a one-third interest. The new Front Range Pipeline ("Front Range"), with connections to the Mid-America Pipeline system and the recently announced Texas Express Pipeline, will help producers in the DJ Basin maximize the value of their NGL production by providing reliable takeaway capacity and market access to the Gulf Coast, the largest NGL market in the United States.

DCP Midstream Completes Pipeline Acquisition to Open NGL Access from the Midcontinent to the Texas Gulf Coast
DCP Midstream announces today that it has closed on its previously announced acquisition of the Seaway Products Pipeline Company from ConocoPhillips.