DALLAS, Aug. 16 /PRNewswire-FirstCall/ -- Crosstex Energy, Inc.
(Nasdaq: XTXI) (the Corporation) today announced that it has been advised by
Yorktown Energy Partners IV, L.P. and Yorktown Energy Partners V, L.P.
(collectively referred to as the "Yorktown Partnerships"), early investors in
Crosstex Energy, Inc., that these entities have distributed approximately
727,000 shares of the Corporation's common stock to their limited and general
partners, effective August 15, in accordance with the terms of their
respective partnership agreements. After the distributions, the Yorktown
Partnerships will collectively hold approximately 3.7 million shares of the
Corporation's common stock.
The Yorktown Partnerships have informed the Corporation that they have not
made any determination as to the disposition of the remaining stock that they
hold and that the shares that have been distributed can be immediately resold.
The Corporation has also been advised by the principals of the general
partners of the Yorktown Partnerships that they intend to retain the shares
received in the distribution for the foreseeable future.
Shares of the Corporation currently receive a dividend of $0.43 per
quarter. Units of Crosstex Energy, L.P. (Nasdaq: XTEX) currently receive a
distribution of $0.47 per quarter. Both companies have increased
dividends/distributions every quarter since their respective initial public
About the Crosstex Energy Companies
Crosstex Energy, L.P., a mid-stream natural gas company headquartered in
Dallas, operates over 4,500 miles of pipeline, five processing plants and
approximately 100 natural gas amine treating plants. Crosstex currently
provides services for approximately 1.9 Bcf/day of natural gas.
Crosstex Energy, Inc. owns the general partner, a 51 percent limited
partner interest in and the incentive distribution rights of Crosstex Energy,
Additional information about the Crosstex companies can be found at
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 herein, including statements
regarding the future liquidity available to investors in Crosstex Energy,
Inc., constitute forward-looking statements. Although Crosstex Energy, Inc.
believes that the expectations reflected in the forward-looking statements are
reasonable, it can give no assurance that such expectations will prove to be
Contact: Barry E. Davis, President and Chief Executive Officer
William W. Davis, Executive V.P. and Chief Financial Officer
Phone: (214) 953-9500
SOURCE Crosstex Energy, Inc.
/CONTACT: Barry E. Davis, President and Chief Executive Officer, or
William W. Davis, Executive V.P. and Chief Financial Officer, both of Crosstex
Energy, Inc., +1-214-953-9500/
/Web site: http://www.crosstexenergy.com /
CO: Crosstex Energy, Inc.; Crosstex Energy, L.P.; Yorktown Energy Partners
IV, L.P.; Yorktown Energy Partners V, L.P.
IN: OIL FIN
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2842 08/16/2005 07:20 EDT http://www.prnewswire.com