DCP Buys Crossroads Plant

DCP Midstream Partners LP, Denver, (NYSE: DPM) closed on its previously announced purchase of the Crossroads system from Penn Virginia Resource Partners LP for about $63 million.

The Crossroads system, located in the southeastern portion of Harrison county in East Texas, includes approximately eight miles of gas gathering pipe, an 80 million cubic feet per day cryogenic processing plant, approximately 20 miles of NGL pipeline and a 50% ownership in an approximately 11-mile residue gas pipeline.

This system will allow DCP to increase midstream services to producers that are expanding liquids-rich Haynesville shale and Cotton Valley drilling programs in East Texas.