Competitive Strengths

We are well positioned to execute our primary business objective to grow our cash distribution per unit over time and to successfully execute our business strategies because of the following competitive strengths:

Affiliation with DCP Midstream and its parents.  Our affiliation with DCP Midstream and its parents, Spectra Energy and ConocoPhillips significantly enhances our ability to grow through acquisitions and to access other business opportunities. This relationship provides us with a wide breadth of operational, commercial, technical, risk management and other expertise across a wide range of businesses and geographies.

Strategically located assets.  Our assets have strong market positions and are strategically located in areas of high demand for our services.

Stable cash flows.  Our operations consist of a favorable mix of fee-based and margin-based services, which together with our hedging activities, generate relatively stable cash flows.

Integrated package of midstream services.  Our ability to provide an integrated package of services to natural gas producers, including natural gas gathering, compression, treating, processing, transportation and sales provides us with an advantage in competing for new supplies of natural gas because we can provide substantially all of the services producers, marketers and others require to move natural gas and natural gas liquids from wellhead to market on a cost-effective basis.

Experienced management team.  The senior management team and board of directors of our general partner includes some of the most senior officers of DCP Midstream, LLC.  This team has substantial experience in operating and growing a master limited partnership engaged in the midstream energy industry.