Ownership Structure

DCP Midstream Partners, LP’s relationship with DCP Midstream, LLC and its parents, Spectra Energy and ConocoPhillips, is a competitive strength for us as we are an important element of their strategy for midstream energy infrastructure investment.

DCP Midstream is one of the largest gatherers of natural gas and marketers of natural gas liquids (NGLs) in North America. It is the nation's largest producer of NGLs. DCP Midstream began operations in 2000 following the contribution to it of the combined North American midstream natural gas gathering, processing, and marketing and NGL businesses of Duke Energy and Phillips Petroleum Company (prior to its merger with Conoco Inc.). DCP Midstream has a significant interest in our partnership through its ownership of the general partner and limited partners interests in us and ownership of our incentive distribution rights.