DALLAS--(BUSINESS WIRE)--Crosstex NGL Pipeline, L.P., an affiliate of the Crosstex Energy companies, Crosstex Energy, L.P. (NASDAQ:XTEX) (the Partnership) and Crosstex Energy, Inc. (NASDAQ:XTXI) (the Corporation), today announced the start of a binding open season for volume commitments for interstate common carrier transportation service on a new natural gas liquids (NGLs) pipeline system (the Crosstex NGL Pipeline) that will transport unfractionated NGLs produced in the Permian Basin, Barnett Shale, Eagle Ford Shale and other areas from the Mont Belvieu, Texas area to NGL fractionation facilities in Acadia and Ascension Parishes, Louisiana for approximately one year and to NGL fractionation facilities in Acadia and Iberville Parishes, Louisiana thereafter. This common carrier pipeline is expected to have a preliminary design capacity to Acadia Parish, Louisiana of approximately 77,000 barrels per day for the first year and is expected to reach up to approximately 132,000 barrels per day thereafter. The open season begins today at 8:00 a.m. Central Time and will close at 5:00 p.m. Central Time on June 21, 2013.
A complete description and additional details regarding the Crosstex NGL Pipeline, including a Notice of Open Season, are available by contacting Terry Brown at 214-953-9510 or Terry.Brown@crosstexenergy.com.
About the Crosstex Energy Companies
Crosstex Energy, L.P. (NASDAQ: XTEX) is an integrated midstream energy partnership headquartered in Dallas that offers diversified, tailored customer solutions spanning the energy value chain with services and infrastructure that link energy production with consumption. XTEX operates approximately 3,500 miles of natural gas, natural gas liquids and oil pipelines, 10 natural gas processing plants and four fractionators, as well as barge and rail terminals, product storage facilities, brine disposal wells and an extensive truck fleet. XTEX has the right platform, the right opportunities and the right people to pursue its growth-focused business strategy.
Crosstex Energy, Inc. (NASDAQ: XTXI) owns the general partner interest, the incentive distribution rights and a portion of the limited partner interests in Crosstex Energy, L.P. as well as the majority interest in a services company focused on the Utica Shale play in the Ohio River Valley.
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.