• We recently announced the dropdown of the remaining
66.7 percent of the Southeast Texas joint venture from
DCP Midstream. Southeast Texas is a fully integrated
midstream business that includes 675 miles of
natural gas pipelines, three processing plants totaling
400 MMcf/d of processing capacity, a 9 billion cubic
feet, high deliverability salt dome storage facility
and favorable access to interstate and intrastate gas
markets. We expect this transaction to be completed
by the second quarter of 2012.
In addition to co-investment, we continue to capture growth
opportunities in our footprint. We announced an attractive
organic Keathley Canyon Connector pipeline expansion for the
Discovery system in the deepwater Gulf of Mexico, which will
provide fee-based margins under long-term contracts.
The segment’s other systems include:
• Our
Ada System
consists of a refrigeration processing
plant with a capacity of 45 MMcf/d and a 130-mile
gathering system.
• Our
Minden System
consists of a cryogenic processing
plant with a capacity of 115 MMcf/d and a 725-mile
gathering system.
• Our
Pelico System
is a 600-mile intrastate natural gas
gathering and transportation pipeline with connections
to the Minden and Ada processing plants.
NATURAL GAS SERVICES CONTINUED
• We own a 75 percent interest in the
Colorado System
,
which gathers natural gas in the Piceance Basin of
western Colorado.
• We own a 40 percent non-operating interest in
the
Discovery System
, which offers a full range of
wellhead to market services to both onshore and
offshore natural gas producers.
• The
Wyoming
gathering system gathers consists of
1,300 miles of pipeline in the Powder River Basin
in Wyoming.
• The
Southern Oklahoma System
consists of a
225-mile gathering system.
• In our
Michigan System
, we own approximately 330
miles of gathering pipeline in the Antrim Shale that
gathers to a complex of four treating plants. We own
partial interests in three residue intrastate pipelines
totaling 110 miles of pipe.
Since our initial public offering, we have invested over
$1.3 billion in this segment. We believe our expanding scale
offers a platform to capture bolt-on acquisitions and organic
opportunities.
6
DCP Midstream Partners
Our natural gas services business generates a mix of fee-based and substantially
hedged commodity-based margins.