Board Member Frank M. Burke Jr. RetiresDALLAS, Jan 03, 2008 (BUSINESS WIRE) -- Crosstex Energy, L.P. (NASDAQ:XTEX) (the Partnership) and Crosstex
Energy Inc. (NASDAQ:XTXI) (the Corporation) announced today that
Leldon (Lel) E. Echols will join the Board of Directors of Crosstex
Energy GP, LLC (the general partner of Crosstex Energy GP, L.P., the
general partner of the Partnership) and the Board of Directors of the
Corporation to fill the vacancies created by Frank M. Burke Jr., who
announced his retirement in 2007.
Burke began his board service with the Crosstex companies in 2003
and has served as chairman of the Audit Committees of both companies.
A noted author on energy taxation and financial reporting for energy
companies, he led the companies' development of financial reporting
and audit practices during times of significant growth and change.
"I am honored to have had the opportunity to work with Frank,"
said Barry E. Davis, Crosstex President and Chief Executive Officer.
"His leadership, integrity and contributions helped establish our
strong foundation for growth. Frank has been a tremendous asset - and
truly sets the right 'tone at the top' that is essential for young
companies like Crosstex. We will miss Frank and what he brought to our
"However, we are excited about Lel Echols joining our
organization. We welcome his accounting, audit and management
expertise and counsel as we continue our rapid growth. I am confident
Lel will make a valuable contribution to the implementation of our
business strategy and our continued success," Davis added.
Echols brings 30 years of financial and business experience to
Crosstex. After 20 years with accounting and consulting firm Arthur
Andersen LLP, which included serving as managing partner of the firm's
audit and business advisory practice in North Texas, Colorado and
Oklahoma, Echols spent six years with Centex Corporation as executive
vice president and chief financial officer. He retired from Centex
Corporation in June 2006. Since then, he has continued to serve on
company boards, managed private investments, and pursued public
service and charitable endeavors. Echols is a member of the boards of
directors of another publicly traded company, Trinity Industries, Inc.
(NYSE:TRN), and two private companies, Roofing Supply Group Holdings,
Inc. and Colemont Corporation. He also served on the board of TXU
Corp. (NYSE:TXU) where he chaired the Audit Committee and was a member
of the Strategic Transactions Committee until the closing of the
recently completed private equity buyout of TXU.
Echols is active in the Dallas community. He is a board member of
the Dallas area chapter of the American Red Cross, United Way of
Metropolitan Dallas, Circle Ten Council of the Boy Scouts of America
and Baylor Health Care System Foundation. He earned a bachelor of
science degree in accounting from Arkansas State University and is a
Certified Public Accountant. He is a member of the American Institute
of Certified Public Accountants and the Texas Society of CPAs.
About the Crosstex Energy Companies
Crosstex Energy, L.P., a midstream natural gas company
headquartered in Dallas, operates over 5,000 miles of pipeline, 13
processing plants, four fractionators, and approximately 200 natural
gas amine-treating plants and dew point control plants. Crosstex
currently provides services for over 3.5 Bcf/day of natural gas, or
approximately 7.0 percent of marketed U.S. daily production.
Crosstex Energy, Inc. owns the two percent general partner
interest, a 38 percent limited partner interest, and the incentive
distribution rights of Crosstex Energy, L.P.
Additional information about the Crosstex companies can be found
SOURCE: Crosstex Energy, L.P.
Crosstex Energy, L.P., Dallas
Crystal C. Bell, 214-721-9407
Investor Relations Specialist
Jill McMillan, 214-721-9271
Manager of Public & Industry Affairs