DCP Midstream completes acquisition of Seaway Products Pipeline

DCP Midstream closed on its previously announced acquisition of the Seaway Products Pipeline Co. from ConocoPhillips. DCP Midstream will convert the renamed Southern Hills Pipeline to natural gas liquids service and add extensions to Mont Belvieu, Texas, along with various receipt points in the Mid-Continent region and associated gathering infrastructure, to create new NGL transportation capacity from the Mid-Continent to the premium Texas Gulf Coast markets. Southern Hills Pipeline will have a target capacity of about 150,000 barrels per day of Y-grade NGLs and is expected to be in service as early as mid-2013. DCP Midstream will operate it as a common carrier pipeline.