DCP Midstream Partners Completes Phase Two of Wyoming Gas Gathering System Enhancements
DENVER, Jan. 5 /PRNewswire-FirstCall/ -- DCP Midstream Partners, LP (NYSE: DPM) today announced the completion of the second phase of its pipeline integrity and system enhancement project on its Douglas natural gas gathering system in Wyoming, returning approximately 80 percent of system capacity to service. The project continues according to plan, with the final phase scheduled for completion during the first quarter of 2009. Producers are returning volumes to the system. As previously announced, volumes were curtailed in the second quarter of 2008 following pipeline integrity testing. The system upgrade project is being conducted to assure pipeline integrity, improve system reliability and reduce operating costs. The Douglas system gathers approximately 20-25 million cubic feet per day of natural gas from wells in Wyoming's Powder River Basin.
DCP Midstream Partners, LP (NYSE: DPM) is a midstream master limited partnership that gathers, processes, transports and markets natural gas and natural gas liquids and is a leading wholesale distributor of propane. DCP Midstream Partners, LP is managed by its general partner, DCP Midstream GP, LLC, which is wholly owned by DCP Midstream, LLC, a joint venture between Spectra Energy and ConocoPhillips. For more information, visit the DCP Midstream Partners, LP web site at http://www.dcppartners.com.
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions for such statements as defined under the federal securities laws. Although management believes that expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct. Investors are encouraged to consider carefully the disclosures and risk factors that may impact these statement, which are contained in the Partnership's most recent annual and quarterly reports filed from time to time with the Securities and Exchange Commission which can be viewed at the Commission's website at www.sec.gov. All statements made herein are expressly qualified by such factors.
SOURCE DCP Midstream Partners, LP
Contact: Karen Taylor of DCP Midstream Partners, LP, +1-303-633-2913, or 24-hour, +1-303-809-9160