DCP Midstream Partners LP : O'Connor Natural Gas Processing Plant Serving Prolific Denver-Julesburg Basin Now in Commercial Operation
O'CONNOR NATURAL GAS PROCESSING PLANT SERVING PROLIFIC
DENVER-JULESBURG BASIN NOW IN COMMERCIAL OPERATION
DENVER, Oct. 16, 2013 - DCP Midstream Partners LP (NYSE: DPM) announces that its new O'Connor Plant, formerly known as the LaSalle Plant, is now in commercial operation.
The O'Connor Plant is a deep-cut cryogenic, natural gas processing plant located near Kersey, Colo., in the rapidly expanding, liquids-rich DJ Basin that is part of the growing Niobrara shale formation. The new name honors Tom O'Connor, chairman of the board of DCP Midstream Partners, and former CEO and chairman of DCP Midstream LLC.
"We are pleased to acknowledge the contribution of Tom to DCP's growing and diversified footprint and just as importantly, his unwavering commitment to the safety and reliability of our operations. His personal integrity is synonymous with the integrity with which we operate our assets," said Wouter van Kempen, CEO of DCP Midstream Partners, and chairman of the board, president and chief executive officer of DCP Midstream.
"The Denver-Julesburg Basin continues to reinvent itself through technological innovation," van Kempen continued. "Volumes and infrastructure needs continue to accelerate. We are executing on our strategy to provide producers the integrated solutions they seek to accommodate their aggressive growth profiles."
The O'Connor Plant is part of an eight-plant system owned and operated by the DCP enterprise, with approximately 600 million cubic feet per day of total capacity. DCP continues to evaluate a very dynamic portfolio of opportunities that align with its gathering and processing and natural gas liquids strategy overall. The plant has an initial capacity of 110 MMcf/d. Expansion to 160 MMcf/d is expected to be completed in the first half of 2014.
|MEDIA CONTACT:||Lisa Newkirk|
ABOUT DCP MIDSTREAM PARTNERS
DCP Midstream Partners, LP (NYSE: DPM) is a midstream master limited partnership engaged in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling NGLs and condensate; and transporting, storing and selling propane in wholesale markets. DCP Midstream Partners, LP is managed by its general partner, DCP Midstream GP, LP, which in turn is managed by its general partner, DCP Midstream GP, LLC, or the General Partner, which is wholly-owned by DCP Midstream, LLC, a joint venture between Phillips 66 and Spectra Energy. For more information, visit the DCP Midstream Partners, LP website at www.dcppartners.com.
This press release contains forward-looking statements as defined under the federal securities laws regarding DCP Midstream Partners, LP, including projections, estimates, forecasts, plans and objectives. 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. In addition, these statements are subject to certain risks, uncertainties and other assumptions that are difficult to predict and may be beyond our control. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, actual results may vary materially from what management anticipated, estimated, projected or expected.
Investors are encouraged to closely consider the disclosures and risk factors contained in DCP Midstream Partners, LP's annual and quarterly reports filed from time to time with the Securities and Exchange Commission. DCP Midstream Partners, LP undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Information contained in this press release is unaudited, and is subject to change.