Crosstex Energy Announces Binding Open Season for NGL Pipeline System Project
September 14 2011 - 7:00AM
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
brad.iles@crosstexenergy.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 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.
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