DCP Midstream, LLC

DCP Midstream, LLC (DCP), owned 50% each by Spectra Energy Corp. and ConocoPhillips, operates in the two principal segments of the North American midstream natural gas industry: (1) natural gas gathering, processing, transportation, trading, marketing and storage and (2) natural gas liquids (NGL) fractionation, transportation, marketing and trading. DCP is one of the largest NGL producers and one of the largest gas gatherers and NGL marketers in North America. DCP operates in 16 states in the United States and gathers raw natural gas through gathering systems located in eight major natural gas producing regions.