DCP Midstream Partners is one of the largest natural gas gatherers in North America. It is the largest producer of natural gas liquids (NGLs) and one of the largest marketers of these materials. The company is also engaged in compressing, treating, processing, transporting, and selling natural gas. DCP Midstream Partners also transports and sells NGLs and distributes propane wholesale. It operates six natural gas gathering systems (most are in the states of Arkansas, Louisiana, Oklahoma, and Texas), three NGL pipelines, and eight propane storage terminals. The company is jointly owned by Sprectra Energy and ConocoPhillips.