Duke Energy Field Services (DEFS) announced Friday that DCP Midstream Partners LP, a midstream energy master limited partnership (MLP) formed by DEFS, filed a Registration Statement with the Securities and Exchange Commission for an initial public offering. The registration statement proposes to register 8,000,000 common units, along with up to an additional 1,200,000 common units that may be purchased at the option of the underwriters. The lead book-running managers of the offering will be Lehman Brothers Inc. and Citigroup Global Markets Inc.

DEFS will be the general partner of DCP Midstream Partners LP, owning an approximate 50% interest in the MLP through its general partner and limited partner ownership interest. Jim W. Mogg will serve as chairman of the new venture and Michael J. Bradley will serve as CEO. DEFS is owned 50% by Duke Energy and 50% by ConocoPhillips.

DCP Midstream Partners LP will own and operate a diversified portfolio of complementary midstream energy assets consisting of two business segments, natural gas services and natural gas liquids (NGL) Logistics. The natural gas services segment consists of the North Louisiana system, which is a 1,430 mile integrated pipeline system in northern Louisiana and Arkansas that gathers, compresses, treats, processes, transports and markets natural gas from over 1,100 receipt points. The NGL logistics segment consists of interests in two NGL pipelines located in Louisiana and Texas.

DCP Midstream Partners, LP’s offering of common units will be made only by means of a prospectus.

Duke Energy Field Services is a midstream energy company that gathers, treats, compresses, processes, transports, markets and stores natural gas; and produces, fractionates, transports, trades, and markets natural gas liquids. DEFS is one of the nation’s largest natural gas gatherers, the largest NGL producer, and one of the largest NGL marketers. The Denver-based company owns or operates 57 plants and 58,000 miles of pipeline. Current handled volumes are 6.8 TBtu/d of natural gas and 356,000 Bbb;/d of NGLs.

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