UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): | October 5, 2004 |
Duke Energy Field Services, LLC
__________________________________________
(Exact name of registrant as specified in its charter)
Delaware | 0-31095 | 76-0632293 | ||
_____________________ (State or other jurisdiction | _____________ (Commission | ______________ (I.R.S. Employer | ||
of incorporation) | File Number) | Identification No.) | ||
370 17th Street, Suite 2500, Denver, CO | 80202 | |||
_________________________________ (Address of principal executive offices) | ___________ (Zip Code) |
Registrant’s telephone number, including area code | 303-595-3331 |
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.06. Material Impairments.
On September 29, 2004, management of Duke Energy Field Services, LLC concluded that impairment charges of approximately $23 million will be recorded in the third quarter of 2004 related to management’s current assessment of certain gathering, processing, compression and transportation assets being considered for sale. Additional charges associated with management’s periodic review of the carrying value of its assets and equity investments, a planned shut down of a specific plant and a disposal of certain assets during the quarter are estimated to be between approximately $35 million and $40 million and will be recorded in the third quarter of 2004. Approximately $23 million of these additional charges relate to management’s assessment of the recoverability of certain equity investments in affiliates. These total third quarter 2004 charges are not anticipated to result in any cash expenditures.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Duke Energy Field Services, LLC (Registrant) | ||||
October 5, 2004 | By: | Rose M. Robeson | ||
Name: Rose M. Robeson | ||||
Title: Vice President and Chief Financial Officer |