DALLAS--(BUSINESS WIRE)--July 10, 2003--Crosstex Energy, L.P.
(NasdaqNM:XTEX), a Texas-based midstream natural gas company, today
announced that it has filed a registration statement for a follow-on
offering of 1,500,000 common units representing limited partner
interests. The registration statement also includes a 30-day option
granted to the underwriters to purchase an additional 225,000 common
units to cover any over-allotments.
Crosstex intends to use the proceeds from the offering to repay a
portion of the indebtedness outstanding under its revolving credit
facilities, including amounts borrowed for its recent acquisition of
assets from Duke Energy Field Services, L.P.
The lead manager of the offering is A.G. Edwards & Sons, Inc. RBC
Capital Markets and Raymond James will co-manage the offering. This
offering of common units will be made only by means of a prospectus. A
written prospectus meeting the requirements of Section 10 of the
Securities Act of 1933 may be obtained from A.G. Edwards & Sons, Inc.,
when available, at:
A.G. Edwards & Sons, Inc.
One North Jefferson
St. Louis, MO 63103
A registration statement relating to these securities has been
filed with the Securities and Exchange Commission, but has not yet
become effective. These securities may not be sold nor may offers to
buy be accepted prior to the time the registration statement becomes
effective. This press release shall not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of
these securities in any state in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state.
Crosstex Energy, L.P., a mid-stream natural gas company
headquartered in Dallas, operates approximately 2,500 miles of
pipeline, three processing plants, and approximately 40 natural gas
amine treating plants. Crosstex currently provides services for over
1,000,000 MMBtu/day of natural gas.
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements other than statements of historical facts included or
incorporated herein may constitute forward-looking statements.
Although the company believes that the expectations reflected in the
forward-looking statements are reasonable, it can give no assurance
that such expectations will prove to be correct.
CONTACT: Crosstex Energy, L.P., Dallas
Barry E. Davis, 214-953-9500
William W. Davis, 214-953-9500
SOURCE: Crosstex Energy, L.P.