DALLAS - (Business Wire) Crosstex Energy, L.P. (NASDAQ: XTEX) (the Partnership) today announced an agreement with Contango Operators, Inc. to process gas from Contango
’s Mary Rose gas field discoveries that successfully tested deep-shelf plays in the Gulf of Mexico. The gas will be transported through an interstate natural gas pipeline to Crosstex
’s Pelican plant near Patterson, Louisiana, from Contango
’s production platform on Eugene Island Block 11.
Beginning in late April, the Pelican plant is scheduled to process up to 100 million cubic feet of gas per day (MMcf/d) as Contango initiates production from its Mary Rose-1 and -3 wells. As Contango develops the field, the company expects production could increase to as much as 250 MMcf/d. Crosstex’s Pelican plant currently is processing approximately 200 MMcf/d, and the facility has a designed capacity to process 600 MMcf/d.
“Crosstex’s assets in southern Louisiana provide us with a large-scale gas processing presence on the Gulf Coast. We are excited about this project and look forward to a long-term working relationship with Contango, a deep-shelf producer and new customer,” said Barry E. Davis, Crosstex President and Chief Executive Officer. “Pelican is just one of several Crosstex processing plants in Louisiana straddling segments of interstate pipelines that gather gas produced in the Gulf of Mexico. Consequently, we are well positioned to process offshore production headed for markets in the upper Midwest and northeastern U.S.”
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. (NASDAQ:XTXI) (the Corporation) owns the two percent general partner interest, a 36 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.
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 constitute forward-looking statements. Although the companies believe that the expectations reflected in the forward-looking statements are reasonable, they can give no assurance that such expectations will prove to be correct.
Crosstex Energy, L.P.
Investors:
Crystal C. Bell, 214-721-9407
Investor Relations Specialist
Chris.Bell@CrosstexEnergy.com
or
Media:
Jill McMillan, 214-721-9271
Manager, Public & Industry Affairs
Jill.McMillan@CrosstexEnergy.com
