Friday, September 23, 2011

Crosstex Energy announces binding open season for NGL pipeline project

DALLAS, Texas - In accordance with the open access requirements of the Federal Energy Regulatory Commission, Crosstex NGL Pipeline, L.P. on Sept. 14 announced the start of a binding open season for volume commitments for interstate common carrier transportation service on a new Crosstex NGL Pipeline that will transport unfractionated natural gas liquids (NGLs) produced in the Permian Basin, Midcontinent, Barnett Shale, Eagle Ford Shale and Rocky Mountain areas from the Mont Belvieu, Texas, area to NGL fractionation facilities in Eunice and Riverside, La.

The open season began on September 14, and will close on Oct. 14.

As announced on July 25, the Crosstex Energy companies - Crosstex Energy, L.P. (NYSE: XTEX) and Crosstex Energy, Inc. (NYSE: XTXI) plan to construct the Crosstex NGL Pipeline.

This common carrier pipeline will have a preliminary design capacity of at least 70,000 barrels per day (b/d) to Eunice, with a lesser amount of capacity available to Riverside.

The Crosstex NGL Pipeline is scheduled to be operational in the first quarter of 2013.

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