In November 2000, TEPPCO acquired $91 million pipeline assets from DEFS
, including two NGL pipelines in East Texas, the 189-mile Panola Pipeline and the 34-mile San Jacinto Pipeline.
DCP), a master limited partnership (MLP) formed with the dropdown of midstream assets from DEFS
valued at $376 million.
The decrease primarily was due to the 2005 restructuring of ConocoPhillips' ownership in DEFS
and negative impacts from recent tax legislation, partially offset by higher natural gas liquids prices.
The increase primarily was due to a net gain of $300 million to ConocoPhillips in the first quarter of 2005 associated with the DEFS
restructuring, as well as the company's increased ownership in DEFS
and higher natural gas prices.
Bradley, senior vice president, DEFS
, "Even with our having added 60 MMcf/d of incremental processing capacity in the area over the past two years, all of our plants were running at or near their full capacities, necessitating the new Platteville plant to meet the needs of our customers.
is one of the leading gatherers of natural gas and is the largest producer of natural gas liquids (NGLs) in North America.
The deal dedicates to DEFS
gas produced by BP within nine townships in the Bitter Creek and Laney Wash areas on the western flank of the Wamsutter field where BP expects to drill more than 300 gas wells.
The increase over the second quarter of 2004 was due primarily to higher natural gas liquids prices in both DEFS
and the company's consolidated operations.
, through its wholly owned subsidiary Duke Energy Midstream Services Canada, Ltd.
Consummating an agreement with Duke Energy announced February 24, ConocoPhillips has increased its ownership in DEFS
was formed by combining the Duke Energy and Phillips Petroleum natural gas gathering and processing businesses.
At the end of the second quarter, ConocoPhillips' interest in DEFS
remained at 30.