DALLAS--(BUSINESS WIRE)--Jan. 23, 2007--Crosstex Energy, a leading
midstream energy services company, is celebrating 10 years in
business. Crosstex provides a full spectrum of value-added services,
including natural-gas transportation, treating, processing and
marketing in Texas, Louisiana, Oklahoma, Alabama and Mississippi.
Crosstex founder Barry E. Davis, President and Chief Executive
Officer, has led the company's expansion campaign. "We started
Crosstex as an entrepreneur's dream only 10 years ago and quickly
became a strong competitor in the midstream industry," said Davis.
During its first decade of operation, Crosstex has grown through
acquisition of underutilized assets, asset enhancement and organic
construction. Management focuses on synergistic asset additions in or
near the company's operational areas. Crosstex provides natural-gas
producers in the prolific Barnett Shale natural-gas play in north
central Texas with midstream services, owns and operates the largest
intrastate gas pipelines in Louisiana and Mississippi, and is the
industry's leading provider in natural gas treating services, with
approximately 160 natural gas amine-treating plants in operation.
Crosstex sets itself apart with best-in-class customer service.
Since 2003, a leading industry survey has ranked Crosstex as one of
the top midstream companies in customer service. "We partner with our
customers and are dedicated to their success," said Davis. "We provide
top-quality service, so our customers can concentrate on what they do
Crosstex stakeholders, including investors, customers, employees,
suppliers and vendors, have consistently benefited from management's
number-one priority--to maximize the profitability of its assets.
"Ten years ago, we only employed nine people, but now we have a
great team of more than 600 loyal employees who have made Crosstex one
of the best companies to work for in the industry. They are
enthusiastic industry professionals who think like owners and not only
get the job done, but get the job done right," said Davis. "Crosstex
employees have driven the company's success, and they play a vital
role in developing and maintaining our company values, ethics and
culture. I congratulate them on making Crosstex what it is today and
look forward to working with them to create the Crosstex of tomorrow."
Crosstex entered the public-market arena in December 2002 when
Crosstex Energy, L.P. began trading as a master limited partnership
(MLP) on NASDAQ under the symbol XTEX. Since that time, the MLP's
market value has climbed from $146 million to $1.5 billion. In January
2004, the general partner of the MLP, Crosstex Energy, Inc., began to
trade on NASDAQ under the symbol XTXI. Since then, the market value of
Crosstex Energy, Inc. has increased from $240 million to $1.4 billion.
Crosstex Energy, Inc. was the first owner of a general partner to go
public through an initial public offering.
About the Crosstex Energy Companies
Crosstex Energy, L.P. (NASDAQ: XTEX), a midstream natural gas
company headquartered in Dallas, operates over 5,000 miles of
pipeline, 12 processing plants, four fractionators, and approximately
160 natural gas amine-treating plants in service and approximately 35
dew point control plants. Crosstex currently provides services for
over 3.0 Bcf/day of natural gas, or approximately 6.0 percent of
marketed U.S. daily production based on August 2006 Department of
Crosstex Energy, Inc. (NASDAQ: XTXI) owns the two percent general
partner interest, a 42 percent limited partner interest, and the
incentive distribution rights of Crosstex Energy, L.P.
Additional information about the Crosstex companies can be found
CONTACT: Crosstex Energy
Crystal C. Bell, 214-721-9407
Investor Relations Specialist,
Jill McMillan, 214-721-9271
Public Relations Specialist
SOURCE: Crosstex Energy