Print Page  Close Window

Press Release
Printer Friendly Version View printer-friendly version
<< Back
Crosstex Energy's Growth Prompts Headquarters Move to New Dallas Location

DALLAS--(BUSINESS WIRE)--April 1, 2008--Crosstex Energy, L.P. (NASDAQ: XTEX) (the Partnership) and Crosstex Energy, Inc. (NASDAQ: XTXI) today announced they will move their headquarters to the International Center IV building, a Harwood International property located at 2828 Harwood in uptown Dallas. Crosstex will occupy five floors and more than 114,000 square feet of the building. The new location will accommodate more than 400 employees.

"We have outgrown our office facilities because we have successfully executed our business strategy," said Barry E. Davis, Crosstex President and Chief Executive Officer. "We are moving to a larger building to accommodate our needs as we continue to develop our business. Much of our growth will be fueled by the increasing activity in the Barnett Shale natural gas formation in North Texas, the hottest gas play in the United States today."

Davis and eight others founded Crosstex 12 years ago. Today, the company employs more than 700 people and is currently located at 2501 Cedar Springs in Dallas. Crosstex plans to move into the new facility in the fall of 2008.

The Staubach Company's Steve Thelen, Executive Vice President, and Jeff Staubach, Vice President, advised Crosstex and helped negotiate the terms of the lease. "The International IV Building is a great uptown location and will allow Crosstex to continue to grow and add new employees in the foreseeable future," said Thelen.

About The Staubach Company

The Staubach Company is the leading global real estate advisory firm that delivers cost-effective solutions for the users of office, industrial and retail space. Staubach has extensive experience in strategic consulting, site selection, acquisition, disposition, construction consulting/project management, real estate administration, portfolio management, financing and capital solutions. The company continually expands its service offerings and geographic coverage to meet the evolving needs of its clients.

The Staubach Company has 1,200 people in 57 offices throughout the Americas and over 2,200 clients. The company completed over 5,000 transactions for more than 151 million square feet at a value of almost $18 billion in its most recent fiscal year. The DTZ Staubach Tie Leung partnership has over 7,900 professionals worldwide who deliver services and solutions to multinational clients in more than 46 countries. For more information: www.staubach.com / 1-800-944-0012.

About the Crosstex Energy Companies

Crosstex Energy, L.P., a midstream natural gas company headquartered in Dallas, operates over 5,000 miles of pipeline, 12 processing plants, four fractionators and approximately 190 natural gas amine-treating plants and dew-point control plants. Crosstex currently provides services for over 3.5 billion cubic feet per day of natural gas, or approximately seven 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 at www.crosstexenergy.com.


    CONTACT: Crosstex Energy
             Crystal C. Bell, 214-721-9407
             Investor Relations Specialist
             Chris.Bell@CrosstexEnergy.com
             or
             Jill McMillan, 214-721-9271
             Manager, Public & Industry Affairs
             Jill.McMillan@CrosstexEnergy.com

    SOURCE: Crosstex Energy