Company Overview
DCP Midstream Partners, LP (NYSE: DPM), or the Partnership, is a midstream
master limited partnership that gathers, compresses, treats, processes,
transports, stores and sells natural gas; produces, fractionates, transports,
stores and sells NGLs and condensate; and transports, stores, and sells
propane in wholesale markets.
The Partnership 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. DCP Midstream and DCP Midstream Partners are collectively referred to as
the “DCP enterprise.” DCP Midstream is one of the nation’s largest natural gas gatherers
and processors, and the largest producer of natural gas liquids in the U.S. ConocoPhillips
(NYSE: COP) is an integrated energy company with interests around the world. During the
third quarter of 2011, ConocoPhillips announced plans to separate its business into two
stand-alone publicly traded companies, and anticipates completing the proposed separation
during the frst half of 2012. As a result of this potential transaction, ConocoPhillips’ 50 percent ownership interest in DCP
Midstream will be transferred to the new downstream company, Phillips 66. Spectra Energy Corp (NYSE: SE) is one of North
America’s premier natural gas infrastructure companies connecting natural gas supply sources to premium markets in the
United States and Canada. Collectively, we call these entities our “sponsors” and our affliation with them provides us with
signifcant business opportunities. Through the ownership of our general partner and 26 percent of our limited partner units,
our sponsors are invested in, and committed to, the success of the Partnership.
Strategic Assets with Scale and Scope
26.0% Limited Partner Interest
0.8% General Partner Interest
73.2% Limited
Partner Interest
As of December 31, 2011
50% Owned
50% Owned
PUBLIC
2011 Annual Report
1
The Partnership’s assets are shown here along with those
of DCP Midstream, which operates our assets on our
behalf and provides other services to us. Collectively, the
DCP enterprise has a signifcant presence in most major
U.S. producing basins and is well positioned to participate
in many existing and emerging shale plays.
DCP Enterprise Stats
(1)
2011 Volumes
Total Throughput - 7.0 TBtu/d
Gathered and Processed - 6.0 TBtu/d
Natural Gas Liquids - 383 MBbls/d
Assets
61 Plants/Treaters, 12 Fractionators
62,000 miles of pipeline
(1)
Includes both DCP Midstream Partners and
DCP Midstream volumes
VA
TX
NM
LA
PA
KS
NY
VT
MA
ME
CO
WY
OK
MI
DCP Midstream Partners Plant
DCP Midstream Plant
DCP Midstream Partners Fractionator
DCP Midstream Fractionator
DCP Midstream Partners Terminal
DCP Midstream Partners Storage Facility
DCP Midstream Partners Treating Facility
DCP Midstream Partners Pipeline
DCP Midstream Pipeline