DCP Midstream Partners, LP is a Delaware limited partnership formed by DCP Midstream, LLC to own, operate, acquire and develop a diversified portfolio of complementary midstream energy assets. We gather, process, transport and market natural gas and transport and market natural gas liquids (NGLs), and we are a leading wholesale distributor of propane. Supported by our relationship with DCP Midstream and its parents, Spectra Energy and ConocoPhillips, we intend to acquire and construct additional assets and we have a management team dedicated to executing our growth strategies.

 Business Strategies

Our primary long term business objectives are to have sustained and growing company profitability, allowing us to increase cash distributions per unit over time, and to maintain a strong balance sheet.  We plan to achieve these objectives through these business strategies:

Optimize: maximize profitability of existing assets.  We optimize the profitability of our existing assets by maintaining existing volumes and adding volumes to enhance utilization, improving operating efficiencies, and capturing market opportunities when available.

Build: capitalize on organic expansion opportunities.  We continually evaluate economically attractive opportunities to expand our existing infrastructure and construct midstream assets in new operating areas.

Acquire: pursue strategic and accretive acquisitions.  We plan to pursue strategic and accretive acquisition opportunities within the midstream energy industry, both in new and existing lines of business and geographic areas of operation. We believe there will continue to be acquisition opportunities as energy companies continue to divest their midstream assets.  We intend to pursue acquisition opportunities both independently and jointly with DCP Midstream and its parents, Spectra Energy and ConocoPhillips, and we may also acquire assets directly from them, which will provide us with a broader array of growth opportunities than those available to many of our competitors.