Profile: DCP Midstream Partners LP (DPM)
29 Sep 2016
DCP Midstream Partners, LP, incorporated on August 5, 2005, is a limited partnership. The Company is engaged in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling natural gas liquids (NGLs) and recovering and selling condensate, and transporting, storing and selling propane in wholesale markets. The Company operates through three segments: Natural Gas Services, NGL Logistics and Wholesale Propane Logistics.
Natural Gas Services
The Company's Natural Gas Services segment consists of a geographically diverse complement of assets and ownership interests that provide a range of wellhead to market services for its producer customers. These services include gathering, compressing, treating, processing, transporting and storing natural gas, and fractionating NGLs. These assets are positioned in certain areas with active drilling programs and opportunities for organic growth. Its Natural Gas Services segment owns or operates assets in over seven states in the continental United States: Arkansas, Colorado, Louisiana, Michigan, Oklahoma, Texas and Wyoming. The assets in these states include the Company's Eagle Ford system, East Texas system, DJ Basin system, Discovery system, Southeast Texas system, Michigan system, Northern Louisiana system, Southern Oklahoma system, Wyoming system and the Piceance system.
The Company's Eagle Ford system is a fully integrated midstream business in Fayette, Goliad, Jackson, Jim Wells, Lavaca, Live Oak and Nueces counties in Texas, which includes gathering systems, production from approximately 900,000 acres supported by acreage dedications or throughput commitments under long-term predominantly percent-of-proceeds agreements, cryogenic natural gas processing plants and fractionation facilities. The Company's East Texas system includes a gas processing complex containing approximately four natural gas processing plants, as well as the George Gray and the Crossroads processing plants. Its East Texas system gathers, transports, compresses, treats and processes natural gas and NGLs. Its East Texas facility also fractionates NGLs. The Company's East Texas system, located near Carthage, Texas, includes a natural gas processing complex that is connected to its gathering system, as well as third party gathering systems.
The Company's DJ Basin system consists of over three gas processing plants in the Denver-Julesburg Basin (DJ Basin) in Weld County, Colorado. The Discovery system offers a range of wellhead-to-market services to both onshore and offshore natural gas producers. The assets are located in the eastern Gulf of Mexico and Lafourche Parish, Louisiana. Its Southeast Texas system includes natural gas processing plants, and natural gas storage assets in Beaumont, Texas. Its Michigan system consists of over three natural gas treating plants. Its Northern Louisiana system consists of approximately two natural gas processing plants. Its Piceance system consists of a natural gas treating plant.
The Company's Northern Louisiana system includes its Minden and Ada systems, which gather natural gas from producers and delivers it for processing to the processing plants. It also includes the Company's Pelico system, which stores natural gas and transports it to markets. Through Northern Louisiana system, the Company offers producers and customers wellhead-to-market services. Its Northern Louisiana system has market outlets for the natural gas it gathers, including several intrastate and interstate pipelines, industrial end users and power plants.
The Company's NGL Logistics segment owns and operates assets for its NGL Logistics business in the states of Colorado, Kansas, Louisiana, Michigan, Oklahoma and Texas. Its NGL pipelines transport NGLs from natural gas processing plants to fractionation facilities, a petrochemical plant and a third party underground NGL storage facility. Its pipelines provide transportation services to customers on a fee basis. The volumes of NGLs transported on its pipelines are dependent on the level of production of NGLs from processing plants connected to the Company's NGL pipelines.
The Company's NGL fractionation facilities in the DJ Basin, in Colorado, and its partially owned facilities in Mont Belvieu, Texas, separate NGLs received from processing plants into their individual components. The fractionation facilities provide services on a fee basis. The Company's NGL storage facility is located in Marysville, Michigan. Its facility serves regional refining and petrochemical demand. The Company holds interest in the Enterprise fractionator and holds interest in the Mont Belvieu 1 fractionator, both located in Mont Belvieu, Texas. Its DJ Basin NGL fractionators in Colorado are located on DCP Midstream, LLC's processing plant sites and are operated by DCP Midstream, LLC, which delivers NGLs to the fractionators. Its NGL storage facility is located in Marysville, Michigan and includes over ten underground salt caverns with approximately eight million barrels per day (MMBbls) of storage capacity and rail, truck and pipeline connections providing a supply point for refiners, petrochemical plants and wholesale propane distributors in the Sarnia, midwestern and northeastern markets.
Wholesale Propane Logistics
The Company's Wholesale Propane Logistics segment owns or operates assets for its wholesale propane logistics business in the states of Maine, Massachusetts, New York, Pennsylvania, Rhode Island, Vermont and Virginia. Its operations serve the propane and other liquefied petroleum gas markets in the northeastern, mid-Atlantic and upper midwestern states. The Company also provides storage services to its customers for propane and other liquefied petroleum gases.
The Company's operations include an owned and a leased propane marine terminal, an owned propane pipeline terminal and over six owned propane rail terminals, with a combined capacity of approximately 550 MBbls. The Company's owned marine terminal also has storage capabilities for other liquefied petroleum gases. It owns rail terminals and leases the land on which the terminals are situated under long-term leases. Each of the Company's rail terminals consists of 2 to 3 propane tanks that provide capacity for storage and over two volume racks for loading propane into trucks.
DCP Midstream Partners LP
370 17th St Ste 2500
DENVER CO 80202-5604
Company Web Links
- BRIEF-DCP Midstream Partners reports Q2 earnings per share $0.12
- BRIEF-DCP Midstream Partners declares quarterly distribution
- BRIEF-DCP Midstream Partners Q1 net income per limited partner unit $0.36
- BRIEF-Phillips 66 targets another dividend increase of at least 10 pct this year
- BRIEF-DCP Midstream Partners revises timing of conference call on Q1 results