Wednesday, July 27, 2011

Crosstex energy and Apache Corporation, jointly develop, Permian Basin project

Wednesday, July 27, 2011

DALLAS-(BUSINESS WIRE) - The Crosstex energy companies, Crosstex energy, L.P. (NASDAQ: XTEX - News) (the partnership) and Crosstex energy, Inc. (NASDAQ: XTXI - News) (Corporation), announced today the partnership and Apache Corporation (NYSE: APA - News) invest together $ 85 million in a new natural gas of construction of processing facility in the Permian Basin in West Texas. The first phase of the project development in Glasscock County, offers intermediate and long-term image processing solutions, compression, and residue gas takeaway for Apache Deadwood. Crosstex and Apache is financed the project of processing as well and each working an interest hold 50 per cent. Crosstex will buy separately, and update a nearby rail terminal transport of natural gas liquids (NGL) deploy to the Eunice fractionation facility in the South of Louisiana.

First of all, Crosstex and Apache installed a cooling system with a capacity of 20 million cubic feet (MMcf), per day as an interim gas processing solution, compression, and food to take away, that are expected 2011 foreseen by the fourth quarter. A cryogenic processing plant with a capacity of 50 MMcf per day is expected to be operational in the second quarter of 2012. Crosstex will manage construction and operate of the facilities.

"Crosstex is excited by this common interest project with Apache, a leading independent energy company, which runs for nearly 20 years in the Permian Basin in West Texas and is one of the largest manufacturers in the region start with one active drill program." "We are very pleased that Apache with creative midstream solutions can provide Crosstex for their gas and NGL products," said Barry E. Davis, Crosstex President and Chief Executive Officer. "We look forward to continuing our long-term cooperation with Apache."

"This transaction provides Crosstex with considerable space for future growth in the Permian Basin, where we see additional business opportunities," Davis added.

In addition to purchase Crosstex and updating the abandoned Patriot Fractionator in Midland County. The system is updated and renovated to first terminal for Apache NGL make raw as a rail are used. Crosstex will transport via rail to the Eunice fractionation plant in south central Louisiana for fractionation and NGL distribution. Product will be delivered to the mesquite terminal via existing NGL pipelines or by truck. Crosstex is $ 12 million in the project invest, the completed and in the fourth quarter of 2011 to be in operation. This facility will provide for the limited infrastructure of Perm NGL takeaway until a long-term pipeline solution is available.

About the Crosstex energy companies

Crosstex energy, L.P., a midstream gas company headquartered in Dallas, Texas, operates some 3,300 km of the pipeline, nine processing plants and three fractionators. The partnership provides U.S.-daily currently for 3.2 billion cubic feet of natural gas per day, or about six percent of the marketed production.

Crosstex energy, Inc. has 2% General Partner interest, a 25 % limited partner interest and the incentive distribution rights Crosstex energy, L.P.

Learn more about the Crosstex of companies can be found at

This press release contains forward-looking statements within the meaning of the federal securities laws. These statements are based on certain assumptions of the partnership and the society on the basis of management experience and perception of historical trends, current conditions, expected future developments and other factors that believe the partnership and Corporation are suitable in the circumstances. These statements include, but are not limited to statements regarding forecasts with regard to capacity, discussed cash flow, incremental investment and timing for ever for the projects over, as also the partnership future growth and profitability. Such statements are subject to a number of assumptions, risks and beyond the control of the partnership and Corporation, which may result in the partnership, and actual results significantly differ from those of the Corporation implies uncertainty, of which many are or expressed in forward-looking statements. These risks include, but are not limited to risks in the partnership and the Corporation discussed are filings with the Securities and Exchange Commission. The partnership and the Corporation are not bound to publicly update or change all forward looking statements and as a result of new information, future events or otherwise.

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