News Release
May 10, 2002

DEFS ANNOUNCES SENIOR MANAGEMENT PROMOTIONS

-- Duke Energy Field Services (DEFS) today announced the promotions of Mark A. Borer to executive vice president of marketing and corporate development and Michael J. Bradley to executive vice president of gathering and processing. The promotions are effective immediately.

“As we enter our next stage of growth and development in the midstream energy sector, these personnel announcements and resulting organizational changes transition various responsibilities currently being handled by the office of the chief executive officer to Mark Borer and Mike Bradley’s areas,” said Jim Mogg, chairman, president and chief executive officer of DEFS. “Additionally, this organizational change should enhance our marketing efforts, increase our focus on growing TEPPCO and improve the competitiveness of our overall assets and operations.”

 

In addition to Borer and Bradley, Mogg’s other DEFS direct reports include:   Bill Slaughter, executive vice president; Rose Robeson, chief financial officer; Brent Backes, general counsel; and Barry Pearl, president and chief executive officer of TEPPCO.

 

DEFS owns the general partner of TEPPCO Partners, L.P., a publicly traded master limited partnership primarily engaged in the transportation of petroleum products.

 

Borer had been DEFS’ senior vice president, Southern division.  He began his career with DEFS in April 1999 when the company acquired Union Pacific Fuels, Inc. (UPFI). At UPFI, he was vice president of natural gas marketing, responsible for overall management of UPFI’s wholesale gas marketing business, including gas trading, transportation, supply, risk management and business development activities. From 1984 to 1992, he held various positions of increasing responsibility in sales, marketing, transportation, supply and regulatory affairs with UPFI, Union Pacific Resources (UPR) and its predecessor Champlin Petroleum. Borer earlier worked for Rocky Mountain Energy and Nebraska Public Power District.

 

He earned a bachelor of science degree in business administration from the University of Nebraska in 1976 and a master of science degree in mineral economics from Colorado School of Mines in 1978.

 

Bradley had been DEFS’ senior vice president, Northern division. He joined the company in 1979 as an engineer with Panhandle Eastern Pipe Line Company and worked in both the design and construction groups at Kansas City, Mo., and Brighton, Colo. Two years later, he was promoted to division engineer in the engineering department at Kansas City. Bradley became a supervisor of engineering in 1982 and transferred to transmission in 1984 at Liberal, Kan., as superintendent of technical operations. He served as director of transmission services at Kansas City and as a division manager in Overland Park, Kan., before being named general manager of transmission in 1990 in Houston. Bradley was promoted to vice president of transmission for Panhandle Eastern in 1991. He was named senior vice president in 1994. Prior to joining the company, he worked for Marley Cooling Tower Company and for the U.S. Geological Survey.

 

Bradley earned a bachelor of science degree in civil engineering from the University of Kansas, Lawrence, in 1977.

 

DEFS is a premier North American midstream company that leads or is among the nation's leaders in the gathering and processing of natural gas and production, transportation and marketing of NGLs. Other services include the transportation, marketing and storage of natural gas. DEFS has 2,700 employees and operates in 16 states across the five largest natural gas producing regions in North America, extending from western Canada to the Gulf Coast.  The Denver-based company owns and operates 64 plants, 57,000 miles of pipeline and had revenues of $10 billion and assets of $6 billion in 2001. Current handled volumes exceed 8.5 TBtu/d of natural gas and 400,000 Bbls/d of NGLs.

 

DEFS was formed by combining the Duke Energy and Phillips Petroleum natural gas gathering and processing businesses. Duke Energy owns approximately 70 percent of the joint venture and Phillips Petroleum owns about 30 percent.  More information is available about the company at www.defs.com.

Contact: Tom Long
Phone: 303/605-1731
24 Hour Phone: 704/382-8333
Email: telong@duke-energy.com