Both transactions are predominantly fee-based and immediately accretive. We are well-positioned to continue to grow distributable cash flow based on our previously announced organic growth projects as well as our targeted dropdown of Sand Hills and Southern Hills in the 2013 and 2014 timeframe. In summary, we had a solid quarter and we continue to execute on our growth strategy with emphasis on co-investing with our general partners.
Let me now turn to Slide 4 to provide a brief operational and key growth project updates. Our Natural Gas Services segment generates margin from a mix of fee and commodity-based businesses with our commodity positions substantially hedged. Despite recent weakness in NGL prices, we have continued to see strong drilling in the liquids-rich areas.
As a reminder, our dry gas exposure is relatively limited and while we are in dry gas basin, we generally have contract structure that mitigates volume exposure such as the substantial ship-or-pay commitments in the Piceance Basin.
This segment continues to experience substantial growth with our late first quarter dropdown of the remaining two-third interest in our Southeast Texas business, the ongoing construction of our Eagle Ford processing plants targeted to go in service later this year and our July Crossroads system acquisition in East Texas. And finally our Keathley Canyon organic growth project at Discovery is well underway with the target in-service date in mid-2014.Our NGL Logistics segment provides broad exposure to the NGL value chain with assets that are well-positioned in strong growing markets such as the Eagle Ford and DJ Basin. We are pleased with the significant growth and scale and scope of this predominately fee-based business over a short period of time including our recently announced 10% interest in Texas Express and the July $200 million dropdown of the Mont Belvieu fractionators.Read the rest of this transcript for free on seekingalpha.com
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