Gulf Coast Express Pipeline LLC Announces Binding Open Season for Limited Remaining Capacity

HOUSTON–(BUSINESS WIRE)–Gulf Coast Express Pipeline LLC, a joint venture owned by affiliates of
Kinder Morgan, Inc. (NYSE: KMI), DCP Midstream, LP (NYSE: DCP) and Targa
Resources Corp. (NYSE: TRGP), today announced the start of a binding
open season for 220,000 dekatherms per day (Dth/d) of firm natural gas
transportation service on the Gulf Coast Express Pipeline Project (GCX
Project), which will transport natural gas from the Waha, Texas,
production area to the market hub near Agua Dulce, Texas, once built.

Of the 220,000 Dth/d of available capacity, 60,000 Dth/d have been added
to the project due to strong market demand. With the added capacity, the
GCX Project will have a total design capacity of 1.98 billion cubic feet
per day at an estimated cost of $1.75 billion.

As previously announced in December 2017, KMI, DCP Midstream and Targa
jointly made a final investment decision (FID) to proceed with the GCX
Project, with construction activities slated for the first quarter of
2018. The in-service date of October 2019 remains the same, pending the
receipt of regulatory approvals. Following the FID in December, the
project has signed with Occidental Energy Marketing, Inc., a subsidiary
of Occidental Petroleum Corporation, and Kaiser-Francis Oil Company for
transportation service on the system. Additional details on the project,
including past press releases and a system map, can be found at www.kindermorgan.com
under the GCX Project web page.

The open season bid period begins on Feb. 5, 2018, and ends at 5 p.m.
Central Time on March 1, 2018. Interested parties should submit their
written request for the Binding Bidding Guidelines to Dave Grisko, vice
president of business development for Kinder Morgan’s Natural Gas
Midstream group, at [email protected]
or (713) 369-9870.

Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy
infrastructure companies in North America. It owns an interest in or
operates approximately 85,000 miles of pipelines and 152 terminals.
KMI’s pipelines transport natural gas, refined petroleum products, crude
oil, condensate, CO2 and other products, and its terminals
transload and store petroleum products, ethanol and chemicals, and
handle products such as steel, coal and petroleum coke. It is also a
leading producer of CO2 that we and others use for enhanced
oil recovery projects primarily in the Permian basin. For more
information, please visit www.kindermorgan.com.

DCP Midstream, LP (NYSE: DCP) is a midstream master limited partnership,
with a diversified portfolio of assets, engaged in the business of
gathering, compressing, treating, processing, transporting, storing and
selling natural gas; producing, fractionating, transporting, storing and
selling NGLs and recovering and selling condensate. DCP owns and
operates more than 60 plants and 63,000 miles of natural gas and natural
gas liquids pipelines, with operations in 17 states across major
producing regions and leads the midstream segment as one of the largest
natural gas liquids producers and marketers and one of the largest
natural gas processors in the U.S. Denver, Colorado based DCP is managed
by its general partner, DCP Midstream GP, LP, which is managed by its
general partner, DCP Midstream GP, LLC, which is 100% owned by DCP
Midstream, LLC. DCP Midstream, LLC is a joint venture between Phillips
66 and Enbridge. For more information, please visit www.dcpmidstream.com.

Targa Resources Corp. (NYSE: TRGP) is a leading provider of midstream
services and is one of the largest independent midstream energy
companies in North America. Targa owns, operates, acquires, and develops
a diversified portfolio of complementary midstream energy assets. The
Company is primarily engaged in the business of gathering, compressing,
treating, processing and selling natural gas; storing, fractionating,
treating, transporting, and selling NGLs and NGL products, including
services to LPG exporters; gathering, storing, and terminaling crude
oil; storing, terminaling, and selling refined petroleum products. For
more information, please visit www.targaresources.com.

Important Information Relating to Kinder
Morgan’s Forward-Looking Statements

This news release includes forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995 and
Section 21E of the Securities and Exchange Act of 1934. Generally the
words “expects,” “believes,” anticipates,” “plans,” “will,” “shall,”
“estimates,” and similar expressions identify forward-looking
statements, which are generally not historical in nature.
Forward-looking statements are subject to risks and uncertainties and
are based on the beliefs and assumptions of management, based on
information currently available to them. Although Kinder Morgan believes
that these forward-looking statements are based on reasonable
assumptions, it can give no assurance that any such forward-looking
statements will materialize. Important factors that could cause actual
results to differ materially from those expressed in or implied from
these forward-looking statements include the risks and uncertainties
described in Kinder Morgan’s reports filed with the Securities and
Exchange Commission, including its Annual Report on Form 10-K for the
year-ended December 31, 2016 (under the headings “Risk Factors” and
“Information Regarding Forward-Looking Statements” and elsewhere) and
its subsequent reports, which are available through the SEC’s EDGAR
system at www.sec.gov
and on our website at ir.kindermorgan.com.
Forward-looking statements speak only as of the date they were made, and
except to the extent required by law, Kinder Morgan undertakes no
obligation to update any forward-looking statement because of new
information, future events or other factors. Because of these risks and
uncertainties, readers should not place undue reliance on these
forward-looking statements.

Important Information Relating to DCP
Midstream’s Forward-Looking Statements

This news release includes forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995 and
Section 21E of the Securities and Exchange Act of 1934. Generally the
words “expects,” “believes,” anticipates,” “plans,” “will,” “shall,”
“estimates,” and similar expressions identify forward-looking
statements, which are generally not historical in nature.
Forward-looking statements are subject to risks and uncertainties and
are based on the beliefs and assumptions of management, based on
information currently available to them. Although DCP Midstream believes
that these forward-looking statements are based on reasonable
assumptions, it can give no assurance that any such forward-looking
statements will materialize. Important factors that could cause actual
results to differ materially from those expressed in or implied from
these forward-looking statements include the risks and uncertainties
described in DCP Midstream’s reports filed with the Securities and
Exchange Commission, including its Annual Report on Form 10-K for the
year-ended December 31, 2016 (under the headings “Risk Factors” and
“Information Regarding Forward-Looking Statements” and elsewhere) and
its subsequent reports, which are available through the SEC’s EDGAR
system at www.sec.gov
and on our website under the Investors tab at www.dcpmidstream.com.
Forward-looking statements speak only as of the date they were made, and
except to the extent required by law, DCP Midstream undertakes no
obligation to update any forward-looking statement because of new
information, future events or other factors. Because of these risks and
uncertainties, readers should not place undue reliance on these
forward-looking statements.

Important Information Relating to Targa’s
Forward-Looking Statements

Certain statements in this press release are "forward-looking
statements" within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. All statements, other than statements of
historical facts, included in this press release that address
activities, events or developments that Targa expects, believes or
anticipates will or may occur in the future are forward-looking
statements. These forward-looking statements rely on a number of
assumptions concerning future events and are subject to a number of
uncertainties, factors and risks, many of which are outside Targa's
control, which could cause results to differ materially from those
expected by management of Targa. Such risks and uncertainties
include, but are not limited to, the timing and extent of changes in
commodity prices, interest rates and demand for services, the level and
success of crude oil and natural gas drilling around assets, the timing
and success of business development efforts, ability to access the
capital markets, the amount of collateral required to be posted from
time to time in transactions, success in risk management activities, the
credit risk of customers, changes in laws and regulations, weather and
other uncertainties. These and other applicable uncertainties, factors
and risks are described more fully in Targa's Annual Report on Form 10-K
for the year ended December 31, 2016 and other reports filed with the
Securities and Exchange Commission. Targa undertakes no obligation to
update or revise any forward-looking statement, whether as a result of
new information, future events or otherwise.

Contacts

KMI Media Relations
Melissa Ruiz, (713) 369-8060
[email protected]
or
KMI
Investor Relations
(713) 369-9490
[email protected]
www.kindermorgan.com
or
DCP
Media Relations
Roz Elliott, (303) 605-1707
www.dcpmidstream.com
or
DCP
Investor Relations
Irene Lofland, (303) 605-1822
www.dcpmidstream.com
or
Targa
Investor and Media Relations
Sanjay Lad, (713) 584-1133
[email protected]
www.targaresources.com