DALLAS, Jan. 23 /PRNewswire-FirstCall/ --
Crosstex Energy, L.P. (Nasdaq: XTEX) today announced that, after completing
the connections to approximately 70 miles of pipeline the company acquired
from Florida Gas Transmission in June 2002, it has begun selling natural gas
to markets in Florida.
"I commend our operations and engineering personnel, who, despite poor
weather conditions, completed these connections within the planned project
timeframe," said Barry Davis, President and Chief Executive Officer of
Crosstex. "This is a tremendous new market opportunity for us, and we look
forward to a long-term relationship with our new customers."
The acquired pipeline provides Crosstex with access to markets into
Florida Gas Transmission at the MOPS Delivery Point, Zone 1, from Crosstex's
existing CCNG and Gulf Coast Systems, including connections to a new supply
point at the ConocoPhillips Lobo Pipeline at Agua Dulce.
Gas is currently flowing at a rate of approximately 50,000 MMBtu/day.
With the new pipeline's delivery capacity of approximately 100,000 MMBtu/day,
Crosstex is working to access additional new markets in Florida in order to
maximize the flow through the pipeline, providing natural gas users in Florida
with long-term, competitively priced supplies.
Crosstex Energy, L.P., a mid-stream natural gas company, operates over
1,700 miles of pipeline, two processing plants, and over 30 natural gas amine
treating plants. Crosstex currently provides services for over
700,000 MMBtu/day of natural gas. According to the Mastio & Co. 2002 Producer
Purchaser Satisfaction Survey, nearly 400 gas producers surveyed ranked
Crosstex Energy number one. Crosstex Energy, L.P.'s principal executive
offices are located at 2501 Cedar Springs, Suite 600, Dallas, Texas, 75201,
and its telephone number is 214-953-9500. Additional information about
Crosstex can be found at www.crosstexenergy.com .
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.