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 Duke Energy Field Services (DEF)
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| Author | Topic: Duke Energy Field Services (DEF) |
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Mayor of Investorville Administrator |
posted 03-20-2000 03:24 PM
 
Formed when Duke Energy and Phillips Petroleum combined their gas gathering, processing, and marketing operations, the company is one of the largest midstream natural gas operators in the US, having some 57,000 miles of gathering pipeline and 70 processing plants. Duke Energy Field Services also owns 12 natural gas liquids processing facilities and is the US's largest NGL producer at 400,000 barrels per day. The company sells about 40% of its NGL production to Phillips under a long-term contract. Duke Energy owns about 70% of Duke Energy Field Services and controls it; Phillips owns 30%. The company plans to raise $800 million but an IPO date hasn't been set yet. (source: SEC filing) |
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