Attached files
file | filename |
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8-K - FORM 8-K - DCP Midstream, LP | d70187e8vk.htm |
EX-8.1 - EX-8.1 - DCP Midstream, LP | d70187exv8w1.htm |
EX-1.1 - EX-1.1 - DCP Midstream, LP | d70187exv1w1.htm |
EX-99.1 - EX-99.1 - DCP Midstream, LP | d70187exv99w1.htm |
EX-99.2 - EX-99.2 - DCP Midstream, LP | d70187exv99w2.htm |
Exhibit 5.1

November 19, 2009
DCP Midstream Partners, LP
370 17th Street, Suite 2775
Denver, Colorado 80202
370 17th Street, Suite 2775
Denver, Colorado 80202
Ladies and Gentlemen:
We have acted as counsel to DCP Midstream Partners, LP, a Delaware limited partnership (the
Partnership), in connection with the proposed offering and sale by the Partnership of up
to 2,875,000 common units (including common units to be issued upon exercise of the underwriters
option to purchase additional common units) representing limited partner interests in the
Partnership (the Common Units) pursuant to an underwriting agreement dated November 19,
2009 (the Underwriting Agreement), among the Partnership, DCP Midstream GP, LP, a
Delaware limited partnership, DCP Midstream GP, LLC, a Delaware limited liability company, and the
underwriters named in Schedule II thereto (the Underwriters).
We have also participated in the preparation of a prospectus supplement dated November 19,
2009 (the Prospectus Supplement), and reviewed the prospectus dated November 8, 2007 (the
Prospectus), each forming part of the Registration Statement on Form S-3 (File No.
333-142278), as amended (the Registration Statement), to which this opinion is an
exhibit. The Prospectus Supplement has been filed with the Securities and Exchange Commission (the
Commission) pursuant to Rule 424(b) promulgated under the Securities Act of 1933, as
amended (the Securities Act). This opinion letter is furnished to you at your request to
enable you to fulfill the requirements of Item 601(b)(5) of Regulation S K, 17 C.F.R. §
229.601(b)(5), in connection with the Registration Statement.
As the basis for the opinion hereinafter expressed, we have examined such statutes, including
the Delaware Revised Uniform Limited Partnership Act (the Delaware Act), partnership
records and documents, certificates of company and public officials, and other instruments and
documents as we deemed relevant or necessary for the purposes of the opinion set forth below,
including, but not limited to, the Underwriting Agreement, the Second Amended and Restated
Agreement of Limited Partnership of the Partnership dated as of November 1, 2006, as amended by
Amendment No. 1 thereto dated as of April 11, 2008, and Amendment No. 2 thereto dated as of April
1, 2009 (as so amended, the Partnership Agreement), and the Certificate of Limited
Partnership of the Partnership filed with the Secretary of State of the State of Delaware. In
making our examination, we have assumed that all signatures on documents examined by us are
genuine, the authenticity of all documents submitted to us as originals and
Holland & Hart llp Attorneys at Law
Phone (303) 295-8000 Fax (303) 295-8261 www.hollandhart.com
555 17th Street Suite 3200 Denver, Colorado 80202-3979 Mailing Address P.O. Box 8749 Denver,
Colorado 80201-8749
Aspen Billings Boise Boulder Carson City Cheyenne Colorado Springs Denver Denver Tech Center
Jackson Hole Las Vegas Reno Salt Lake City Santa Fe Washington, D.C.
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DCP Midstream Partners, LP November 19, 2009 Page 2 |
the conformity with the original documents of all documents submitted to us as certified,
conformed or photostatic copies. We have also assumed the accuracy of all other information
provided to us by the Partnership during the course of our investigations, on which we have relied
in issuing the opinion expressed below. We have relied upon a certificate and other assurances of
officers of the general partner of the Partnership and others as to factual matters without having
independently verified such factual matters. In connection with the opinion hereinafter expressed,
we have assumed that all Common Units will be issued and sold in the manner stated in the
Prospectus Supplement, the Prospectus and the Underwriting Agreement.
Based on the foregoing and on such legal considerations as we deem relevant, and subject to
the qualifications, assumptions and limitations stated herein and in reliance on the statements of
fact contained in the documents we have examined, we are of the opinion that, when issued and
delivered on behalf of the Partnership against payment therefor by the Underwriters in accordance
with the Underwriting Agreement, the Common Units will be validly issued, fully paid (to the extent
required under the Partnership Agreement) and non-assessable (except as such nonassessability may
be affected by Sections 17-607 and 17-804 of the Delaware Act and except as otherwise described in
the Prospectus Supplement and the Prospectus).
We express no opinion other than as to the Delaware Act. We hereby consent to the reference to
our firm under the caption Legal Matters in the Prospectus Supplement, to the filing of this
opinion letter as an exhibit to the Partnerships Current Report on Form 8-K dated on or about the
date hereof, and to the incorporation by reference of this opinion letter into the Registration
Statement. In giving this consent, we do not admit that we are included in the category of persons
whose consent is required under Section 7 of the Securities Act or the rules and regulations of the
Commission thereunder.
Very truly yours, |
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/s/ Holland & Hart LLP | ||||