Duke Energy Field Services announces new name
  by: OilOnline
  Monday, October 09, 2006

Duke Energy Field Services has announced its name will change to DCP Midstream, effective Jan. 1, 2007, to coincide with the planned legal separation of Duke Energy's power and gas businesses. Upon legal separation, Duke Energy's 50 percent ownership interest in DCP Midstream will transfer to the separate stand-alone publicly traded gas company which is yet to be named.

"This is an exciting new chapter for us. We chose to align with the name of the master limited partnership, DCP Midstream Partners, which we created in December 2005 to underscore our shared strategy of growth and performance excellence," said Bill Easter, chairman of DEFS. "The name DCP Midstream also pays homage to ConocoPhillips and Duke Energy, our two parent companies, whose support has led to DEFS becoming one of the leading midstream companies in the U.S."

Duke Energy Field Services, as it is known today, was formed in March 2000 by combining the natural gas gathering and processing businesses of Duke Energy and ConocoPhillips' former GPM Gas Corporation. In July 2005, Field Services became an equally owned joint venture between Duke Energy and ConocoPhillips.

In the next two months, the company will be notifying customers, regulatory agencies, vendors and other key groups with more detail about its name change.