DCP Midstream announces new processing plant in Weld County

DCP Midstream LLC announced on May 10, 2011 that it will build a new 110 million cubic feet per day (MMcf/d) natural gas processing plant and high-pressure gathering system in Weld County, Colo. The new LaSalle plant will augment DCP Midstream's prominent position in the Denver-Julesburg Basin, where it currently owns and operates seven natural gas processing plants with a combined capacity of 400 MMcf/d.


The $270 million LaSalle plant and associated gathering system is expected to have a projected in-service date of mid-2013. In addition, the gathering system expansion will include capability to service producers in the Niobrara Shale development to the north and west of DCP's existing footprint.

"The DJ Basin continues to reinvent itself, particularly with this new phase of oil-driven development. Our footprint in Weld County positions DCP Midstream well for the growth in horizontal Niobrara Shale activity around our existing footprint as well as potential new Niobrara projects to the east and north of our asset," said Bill Waldheim, president of DCP Midstream's northern business unit.

The LaSalle plant is being funded through DCP Midstream's existing debt facilities and operating cash.

DCP Midstream, LLC, headquartered in Denver, Colorado, leads the midstream segment as one of the nation's top three largest natural gas gatherers and processors, and the largest natural gas liquids producer and one of the largest marketers in the U.S. DCP Midstream operates in 18 states across producing regions. DCP Midstream is a 50:50 joint venture between Spectra Energy and ConocoPhillips. The Company owns the General Partner of DCP Midstream Partners, LP, a master limited partnership, and provides operational and administrative support to the partnership. For more information, visit the DCP Midstream, LLC website at www.dcpmidstream.com.

DCP Midstream is a Best Place to Work Company in Denver and the largest private company in Denver as rated by the Denver Business Journal.