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

Printer Friendly Version View printer-friendly version
<< Back
Crosstex Energy, L.P. Files Registration for Proposed Follow-On Offering of Common Units

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
             or
             William W. Davis, 214-953-9500

    SOURCE: Crosstex Energy, L.P.

 
 HomeSite IndexContact UsSafety & Environment