Crosstex Energy, L.P. (ticker: XTEX, exchange: NASDAQ Global Market (.O))
News Release -
Crosstex Energy Announces Binding Open Season for NGL Pipeline System Project
DALLAS, Sep 14, 2011 (BUSINESS WIRE) -- In accordance with the open access requirements of the Federal Energy Regulatory Commission, Crosstex NGL Pipeline, L.P. today announced the start of a binding open season for volume commitments for interstate common carrier transportation service on a new natural gas liquids pipeline system (the Crosstex NGL Pipeline) that will transport unfractionated natural gas liquids (NGLs) produced in the Permian Basin, Midcontinent, Barnett Shale, Eagle Ford Shale, and Rocky Mountain areas from the Mont Belvieu, Texas area to NGL fractionation facilities in Eunice and Riverside, Louisiana. The open season will begin at 8:00 a.m. Central Time on September 14, 2011 and will close at 5:00 p.m. Central Time on October 14, 2011.
As announced on July 25, 2011, the Crosstex Energy companies, Crosstex Energy, L.P. (NASDAQ:XTEX) (the partnership) and Crosstex Energy, Inc. (NASDAQ:XTXI) plan to construct the Crosstex NGL Pipeline. This common carrier pipeline will have a preliminary design capacity of at least 70,000 barrels per day to Eunice, with a lesser amount of capacity available to Riverside. The Crosstex NGL Pipeline is scheduled to be operational in the first quarter of 2013. The Partnership is completing engineering studies, pipeline routing work and environmental permitting for this new NGL pipeline project.
Additional details, including a Notice of Open Season, are available by contacting Brad Iles at 214.721.9363 or email@example.com.
About the Crosstex Energy Companies
Crosstex Energy, L.P., a midstream natural gas company headquartered in Dallas, Texas, operates approximately 3,300 miles of pipeline, nine processing plants and three fractionators. Crosstex Energy, L.P. currently provides services for 3.2 billion cubic feet of natural gas per day, or approximately six percent of marketed U.S. daily production.
Crosstex Energy, Inc. owns the two percent general partner interest, a 25 percent limited partner interest and the incentive distribution rights of Crosstex Energy, L.P.
Additional information about the Crosstex companies can be found at http://www.crosstexenergy.com.
This press release contains forward-looking statements within the meaning of the federal securities laws. These statements are based on certain assumptions made by the Crosstex companies (which include Crosstex Energy, L.P., Crosstex Energy, Inc., and Crosstex NGL Pipeline, L.P.) (collectively, "Crosstex Companies") based upon management's experience and perception of historical trends, current conditions, expected future developments and other factors the Crosstex Companies believe are appropriate in the circumstances. These statements include, but are not limited to, statements with respect to forecasts regarding capacity, cash flow, incremental investment and timing for becoming operational for the projects discussed above, as well as the Crosstex Companies future growth and results of operations.Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Crosstex Companies, which may cause the Crosstex Companies' actual results to differ materially from those implied or expressed by the forward-looking statements. These risks include, but are not limited to, risks discussed in the Crosstex Companies' filings with the Securities and Exchange Commission. The Crosstex Companies have no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE: Crosstex Energy
Jill McMillan, 214-721-9271
Director, Public & Industry Affairs