DCP Midstream Partners Announces Quarterly Distribution
DENVER, Oct. 27, 2015 (GLOBE NEWSWIRE) -- DCP Midstream Partners, LP (NYSE:DPM) announced today that the board of directors of its general partner declared a quarterly cash distribution of $0.78 per common unit for the quarter ended September 30, 2015, or $3.12 per unit on an annualized basis. This distribution remains unchanged from the previous quarter and represents an increase of 1.3 percent over the $0.77 per unit distribution paid with respect to the third quarter of 2014. This quarterly cash distribution will be paid November 13, 2015, to unitholders of record at the close of business on November 6, 2015.
ABOUT DCP MIDSTREAM PARTNERS, LP DCP Midstream Partners, LP (NYSE:DPM) is a midstream master limited partnership engaged in the business of gathering, compressing, treating, processing, transporting, storing and selling natural gas; producing, fractionating, transporting, storing and selling NGLs and recovering and selling condensate; and transporting, storing and selling propane in wholesale markets. DCP Midstream Partners, LP is managed by its general partner, DCP Midstream GP, LP, which in turn is managed by its general partner, DCP Midstream GP, LLC, which is 100% owned by DCP Midstream, LLC, a joint venture between Phillips 66 and Spectra Energy. For more information, visit the DCP Midstream Partners, LP website at www.dcppartners.com.
Hedging programs that E&Ps have in place in 2016 vary considerably. The chart below shows the range of oil and gas production for several E&Ps covered by hedging contracts. Pioneer Natural Resources (ticker: PXD) and Cimarex Energy (ticker: XEC) have hedged the largest portions of their remaining production at 85/75 and 80/90 percent, respectively, for oil and gas. This chart[Read More…]
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