Key Developments: DCP Midstream Partners LP (DPM)
50.68USD
21 May 2013
$0.47 (+0.94%)
$50.17
$50.35
$50.89
$50.25
160,916
519,948
$51.00
$36.47
Latest Key Developments (Source: Significant Developments)
DCP Midstream Partners LP Declares Increase In Quarterly Distribution
DCP Midstream Partners LP announced that Board Of Directors of its general partner declared a quarterly cash distribution of $0.70 per unit for the quarter ended March 31, 2013. This represents an increase of 1.4% over the last quarterly distribution of $0.69 per unit paid February 15, 2013. The quarterly cash distribution will be paid May 15, 2013, to unitholders of record at the close of business May 8, 2013. Full Article
DCP Midstream Partners LP Declares Increase In Quarterly Distribution
DCP Midstream Partners LP announced that Board Of Directors of its general partner declared a quarterly cash distribution of $0.69 per unit for the quarter ended December 31, 2012. This represents an increase of 1.5 % over the last quarterly distribution of $0.68 per unit paid November 14, 2012. The quarterly cash distribution will be paid February 14, 2013, to unitholders of record at the close of business February 7, 2013. Full Article
DCP Midstream Partners LP Announces Appointment Of CEO-Form 8-K
DCP Midstream Partners LP reported in its Form 8-K that on January 2, 2013, DCP Midstream Partners, LP (Partnership) announced the appointment of Wouter van Kempen, as Chief Executive Officer (CEO) of DCP Midstream GP, LLC (DCP Midstream GP), the Partnership’s general partner, effective January 1, 2013. In addition the Partnership announced the appointment of William S. Waldheim as a member of the Board of Directors of DCP Midstream GP. Mr. Waldheim currently serves as President of DCP Midstream GP and is not expected to serve on any committees of the Board of Directors. As previously announced, Mr. Mark A. Borer, Chief Executive Officer of DCP Midstream GP and a member of its Board of Directors, retired from those positions effective December 31, 2012. Full Article
DCP Midstream Partners LP Declares Quarterly Distribution
DCP Midstream Partners LP announced that the board of directors of its general partner declared a quarterly cash distribution of $0.68 per unit for the quarter ended September 30, 2012. This represents an increase of 1.5% over the last quarterly distribution of $0.67 per unit paid August 14, 2012. The quarterly cash distribution will be paid November 14, 2012, to unitholders of record at the close of business November 7, 2012. This quarterly distribution equates to $2.72 per unit on an annual basis. Full Article
DCP Midstream Partners LP Declares Increase in Quarterly Distribution
DCP Midstream Partners LP announced that the board of directors of its general partner declared a quarterly cash distribution of $0.67 per unit for the quarter ended June 30, 2012. This represents an increase of 1.5% over the last quarterly distribution of $0.66 per unit paid May 15, 2012. The quarterly cash distribution will be paid August 14, 2012, to unitholders of record at the close of business August 7, 2012. This quarterly distribution equates to $2.68 per unit on an annual basis. Full Article
DCP Midstream Partners LP Completes Previously Announced $63 Million Acquisition Of The Crossroads System From Penn Virginia Resource Partners, L.P.
DCP Midstream Partners LP announced that it has completed the previously announced $63 million acquisition of the Crossroads system from Penn Virginia Resource Partners, L.P. 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. The Crossroads system, located in the southeastern portion of Harrison county in East Texas, includes an 80 million cubic feet per day cryogenic processing plant, approximately 8 miles of gas gathering pipe, approximately 20 miles of NGL pipeline and a 50% ownership in an approximately 11-mile residue gas pipeline. Full Article
DCP Midstream Partners LP Agrees To Issue $177.4 Million Of Common Units
DCP Midstream Partners LP announced it has entered into an agreement with a group of institutional investors led by funds managed by ClearBridge Advisors, FAMCO MLP, a division of Advisory Research, Inc., Kayne Anderson Capital Advisors and Tortoise Capital Advisors to sell $177.4 million of the Partnership’s common units in a private placement at a price of $35.55 per unit. The private placement is expected to close on July 2, 2012. Citigroup acted as sole placement agent for the Partnership on this transaction. Full Article
DCP Midstream Partners LP Announces Acquisition Of Crossroads Processing Plant
DCP Midstream Partners LP announced 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. The Partnership intends to use borrowings under its bank credit facility to finance the expected closing of the acquisition on or about July 2, 2012. Full Article
DCP Midstream Partners LP Declares Increase In Quarterly Distribution
DCP Midstream Partners LP announced that the Board of Directors of its general partner declared a quarterly cash distribution of $0.66 per unit for the quarter ended March 31, 2012. This represents an increase of 1.5% over the last quarterly distribution of $0.65 per unit paid February 14, 2011. The quarterly cash distribution will be paid May 15, 2012, to unitholders of record at the close of business May 8, 2012. This quarterly distribution equates to $2.64 per unit on an annual basis. Full Article
DCP Midstream Partners LP And DCP Midstream, LLC Announce Management Changes
DCP Midstream Partners, LP And DCP Midstream, LLC announced that effective May 11, 2012, Angela A. Minas, the Partnership’s vice president and Chief Financial Officer (CFO), has decided to leave the Partnership to pursue other interests and Rose M. Robeson, currently group vice president and CFO of DCP Midstream, will be appointed to the position of senior vice president and CFO of the Partnership. In conjunction with this move and as part of periodic rotational management changes within the overall DCP enterprise, Sean O’Brien, currently vice president financial planning and analysis and treasurer of DCP Midstream, will be appointed to the position of senior vice president and CFO of DCP Midstream. O’Brien joined DCP Midstream in 2009 from Duke Energy, where O’Brien served in several senior financial leadership positions. Full Article
UPDATE 2-No injuries in gas compressor blast in Oklahoma -DCP Midstream
April 5 - No one was injured in an explosion and fire at a natural gas compressor station in rural Logan County, Oklahoma, late Thursday, the station's owner DCP Midstream LLC said on Friday.
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