EX-99.2
5
v086891_ex99-2.htm
August
29, 2007
MEDIA
AND INVESTOR RELATIONS CONTACT:
Karen
L. Taylor
Phone:
303/633-2913
24-Hour:
303/809-9160
DCP
MIDSTREAM PARTNERS CLOSES $100 MILLION PRIVATE PLACEMENT OF COMMON
UNITS
DENVER
-
DCP Midstream Partners (NYSE: DPM), or the Partnership, today
announced it has closed the previously announced agreement to privately place
$100 million of common units
representing limited partner interests in the Partnership.
The
closing of the sale was concurrent with the closing of the Partnership's $165
million acquisition from DCP Midstream, LLC of certain subsidiaries of Momentum
Energy Group Inc. (MEG) that DCP Midstream, LLC acquired in a separate
transaction. Both acquisitions are subject to standard closing adjustments.
The
purchasers in the private placement were certain prior owners of MEG or
affiliates of such owners, and were each accredited investors.
The
Partnership used the net proceeds from the private placement to fund a portion
of the consideration for the acquisition. The Partnership plans to finance
the
balance of the consideration amount of $165 million through a mix of equity
issued to DCP Midstream, LLC, cash on hand, and debt.
This
press release shall not constitute an offer to sell or a solicitation of an
offer to buy the securities described herein. The securities offered in the
private placement have not been registered under the Securities Act of 1933
and
may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements.
DCP
Midstream Partners, LP (NYSE: DPM) is a midstream master limited partnership
that gathers, processes, transports and markets natural gas and natural gas
liquids and is a leading wholesale distributor of propane. DCP Midstream
Partners, LP is managed
by its
general partner, DCP Midstream GP, LLC, which is wholly owned by DCP Midstream,
LLC, a joint venture between Spectra Energy and ConocoPhillips. For more
information, visit the DCP Midstream Partners, LP Web site at http://www.dcppartners.com.
-more-
-2-
This
press release may contain or incorporate by reference forward-looking statements
as defined under the federal securities laws regarding DCP Midstream Partners,
LP, including projections, estimates, forecasts, plans and objectives. Although
management believes that expectations reflected in such forward-looking
statements are reasonable, no assurance can be given that such expectations
will
prove to be correct. In addition, these statements are subject to certain risks,
uncertainties and other assumptions that are difficult to predict and may be
beyond our control. If one or more of these risks or uncertainties materialize,
or if underlying assumptions prove incorrect, the Partnership's actual results
may vary materially from what management anticipated, estimated, projected
or
expected. Among the key risk factors that may have a direct bearing on the
Partnership's results of operations and financial condition are:
·
the
level and success of natural gas drilling around our assets and our
ability to connect supplies to our gathering and processing systems
in
light of competition;
·
our
ability to grow through acquisitions, asset contributions from our
parents, or organic growth projects, and the successful integration
and
future performance of such assets;
·
our
ability to access the debt and equity
markets;
·
fluctuations
in oil, natural gas, propane and other NGL prices; our ability to purchase
propane from our principal suppliers for our wholesale propane logistics
business; and
·
the
credit worthiness of counterparties to our transactions.
Investors
are encouraged to closely consider the disclosures and risk factors contained
in
the Partnership's annual and quarterly reports filed from time to time with the
Securities
and Exchange Commission. The Partnership undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. Information contained in this press
release is unaudited, and is subject to change.
###

EX - 99 . 2 5 v086891 _ ex99 - 2 . htm August 29 , 2007 MEDIA AND INVESTOR RELATIONS CONTACT : Karen L . Taylor Phone : 303 / 633 - 2913 24 - Hour : 303 / 809 - 9160 DCP MIDSTREAM PARTNERS CLOSES $ 100 MILLION PRIVATE PLACEMENT OF COMMON UNITS DENVER - DCP Midstream Partners ( NYSE : DPM ) , or the Partnership , today announced it has closed the previously announced agreement to privately place $ 100 million of common units representing limited partner interests in the Partnership . The closing of the sale was concurrent with the closing of the Partnership 's $ 165 million acquisition from DCP Midstream , LLC of certain subsidiaries of Momentum Energy Group Inc . ( MEG ) that DCP Midstream , LLC acquired in a separate transaction . Both acquisitions are subject to standard closing adjustments . The purchasers in the private placement were certain prior owners of MEG or affiliates of such owners , and were each accredited investors . The Partnership used the net proceeds from the private placement to fund a portion of the consideration for the acquisition . The Partnership plans to finance the balance of the consideration amount of $ 165 million through a mix of equity issued to DCP Midstream , LLC , cash on hand , and debt . This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described herein . The securities offered in the private placement have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements . DCP Midstream Partners , LP ( NYSE : DPM ) is a midstream master limited partnership that gathers , processes , transports and markets natural gas and natural gas liquids and is a leading wholesale distributor of propane . DCP Midstream Partners , LP is managed by its general partner , DCP Midstream GP , LLC , which is wholly owned by DCP Midstream , LLC , a joint venture between Spectra Energy and ConocoPhillips . For more information , visit the DCP Midstream Partners , LP Web site at http://www.dcppartners.com . - more - - 2 - This press release may contain or incorporate by reference forward - looking statements as defined under the federal securities laws regarding DCP Midstream Partners , LP , including projections , estimates , forecasts , plans and objectives . Although management believes that expectations reflected in such forward - looking statements are reasonable , no assurance can be given that such expectations will prove to be correct . In addition , these statements are subject to certain risks , uncertainties and other assumptions that are difficult to predict and may be beyond our control . If one or more of these risks or uncertainties materialize , or if underlying assumptions prove incorrect , the Partnership 's actual results may vary materially from what management anticipated , estimated , projected or expected . Among the key risk factors that may have a direct bearing on the Partnership 's results of operations and financial condition are : · the level and success of natural gas drilling around our assets and our ability to connect supplies to our gathering and processing systems in light of competition ; · our ability to grow through acquisitions , asset contributions from our parents , or organic growth projects , and the successful integration and future performance of such assets ; · our ability to access the debt and equity markets ; · fluctuations in oil , natural gas , propane and other NGL prices ; our ability to purchase propane from our principal suppliers for our wholesale propane logistics business ; and · the credit worthiness of counterparties to our transactions . Investors are encouraged to closely consider the disclosures and risk factors contained in the Partnership ' s annual and quarterly reports filed from time to time with the Securities and Exchange Commission . The Partnership undertakes no obligation to publicly update or revise any forward - looking statements , whether as a result of new information , future events or otherwise . Information contained in this press release is unaudited , and is subject to change . # # #