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Crosstex Energy, Inc.
Trades on the NASDAQ Exchange under the symbol XTXI.
Press Release

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Crosstex Energy Acquires Intracoastal Pipeline from Chevron
DALLAS, Jan 05, 2010 (BUSINESS WIRE) -- The Crosstex Energy companies, Crosstex Energy, L.P. (NASDAQ: XTEX) (the Partnership) and Crosstex Energy, Inc. (NASDAQ: XTXI) (the Corporation), announced today that the Partnership has acquired the Intracoastal Pipeline, an approximately 60-mile natural gas liquids (NGL) pipeline, from Chevron Midstream Pipelines, a subsidiary of Chevron Corporation (NYSE: CVX) for approximately $10 million. The Intracoastal Pipeline, which extends from Patterson to Henry in southern Louisiana, connects to Crosstex's Pelican processing plant and accesses other third-party processing plants in the region. NGL's produced at Crosstex's Pelican plant flow through the Intracoastal Pipeline to Crosstex's Cajun-Sibon NGL pipeline for delivery to the Partnership's Riverside fractionator. Crosstex's Eunice processing plant also is connected to the Cajun-Sibon NGL pipeline.

"The Intracoastal Pipeline will serve as a strategic link between our Pelican and Eunice processing facilities and our Eunice and Riverside fractionators. We believe the pipeline will enhance our operational efficiencies and competitive advantages in the region, allowing us to maximize benefits from the processing and NGL value chain," said Barry E. Davis, Crosstex President and Chief Executive Officer. "The acquisition is consistent with our strategy to develop our NGL business in southern Louisiana."

About the Crosstex Energy Companies

Crosstex Energy, L.P., a midstream natural gas company headquartered in Dallas, operates approximately 3,300 miles of pipeline, 10 processing plants and three fractionators. The Partnership 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 33 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 Partnership and the Corporation based upon management's experience and perception of historical trends, current conditions, expected future developments and other factors the Partnership and the Corporation believe are appropriate in the circumstances.These statements include, but are not limited to, statements with respect to the acquisition of the Intracoastal pipeline and the effect of such acquisition on the Partnership's future liquidity, leverage, business 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 Partnership and the Corporation, which may cause the Partnership's and the Corporation's 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 Partnership's and the Corporation's filings with the Securities and Exchange Commission.The Partnership and the Corporation 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

Crosstex Energy
Jill McMillan, 214-721-9271
Director, Public & Industry Affairs
Jill.McMillan@CrosstexEnergy.com

 
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