DCP Midstream Buys Michigan Gas Assets

November 25, 2009 (FinancialWire) — DCP Midstream Partners, LP (NYSE: DPM) has closed its acquisition of certain natural gas gathering and treating assets for $45.1 million in cash from MichCon Pipeline Co., a subsidiary of DTE Energy (NYSE: DTE).

The assets are located in northern Michigan adjacent to the Partnership’s existing assets. These assets provide essential services for gas produced from the Antrim Shale formation.

DCP said the acquisition was financed through a public offering of 2.5 million of the Partnership’s common units, which closed on November 24.

Denver-based DCP Midstream Partners is a midstream master limited partnership that gathers, processes, transports and markets natural gas, transports and markets natural gas liquids, and is a wholesale distributor of propane.

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