One-Page Deal Sheet
Spectra Energy to Acquire One-Third Interest in Permian and Eagle Ford Midstream Projects
Spectra Energy Corp. DCP Midstream LP, Phillips 66
Announced Date
October 31,2012
Close Date
November 15,2012
Transaction Type
Asset
Location
Region
Permian,Gulf Coast - South Texas
Country
United States
State
Texas
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Spectra Energy Corp announced it has reached an agreement in principle to acquire a one-third interest in the Sand Hills and Southern Hills pipelines, both of which currently are under construction by DCP Midstream, LLC (DCP Midstream), a 50/50 joint venture between Spectra Energy and Phillips 66.
The transaction is expected to close by the end of November. Upon closing, Spectra Energy, Phillips 66, and DCP Midstream each will own a one-third interest in the two pipelines – and will equally fund the remaining capital expenditures through completion of the pipelines. The aggregate…