Profile: Crosstex Energy Inc (XTXI.O)
24 May 2013
Crosstex Energy, Inc., incorporated on March 28, 2000, is engaged, through its subsidiaries, in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs). The Company connects the wells of natural gas producers in the geographic areas of its gathering systems in order to gather for a fee or purchase the gas production, processes natural gas for the removal of NGLs, transports natural gas and NGLs and ultimately provides natural gas and NGLs to a variety of markets. In addition, it purchases natural gas and NGLs from producers not connected to its gathering systems for resale and markets natural gas and NGLs on behalf of producers for a fee. Its partnership interests consist of 19.7% limited partner interest in Crosstex Energy, L.P. (the Partnership), as of December 31, 2012, and 100% ownership interest in Crosstex Energy GP, LLC, the general partner of the Partnership, which owns a 2.0% general partner interest and all of the distribution rights in the Partnership. The Company has crude oil terminal facilities in south Louisiana to provide access for crude oil producers to the markets in this area.
The Partnership's segments include the natural gas gathering, processing and transmission operations located in north Texas and in the Permian Basin in west Texas (NTX), the pipelines and processing plants located in Louisiana (LIG) and the south Louisiana processing and NGL assets (PNGL). The Company’s combined midstream energy asset network includes approximately 3,500 miles of pipelines, ten natural gas processing plants, four fractionators, 3.1 million barrels of NGL cavern storage, rail terminals, barge terminals, truck terminals and a fleet of approximately 100 trucks. The Company has five reportable segments: South Louisiana processing and NGL, or PNGL, which includes its processing and NGL assets in South Louisiana; Louisiana, or LIG, which includes its pipelines and processing plants located in Louisiana; North Texas, or NTX, which includes its activities in the Barnett Shale and the Permian Basin; Ohio River Valley, or ORV, which includes its activities in the Utica Shale; and Corporate Segment, or Corporate, which includes its equity investment in Howard Energy Partners, or HEP, in the Eagle Ford Shale and its general partnership property and expenses. Its gathering systems consist of a network of pipelines that collect natural gas from points near producing wells and transport it to larger pipelines for further transmission. The Partnership's transmission pipelines primarily receive natural gas from its gathering systems and from third party gathering and transmission systems and deliver natural gas to industrial end-users, utilities and other pipelines. Its processing plants remove NGLs and CO2 from a natural gas stream and its fractionators separate the NGLs into separate NGL products, including ethane, propane, iso-butane and normal butanes and natural gasoline.
The Partnership's north Texas assets consist of gathering systems with total capacity of approximately 1.2 billion cubic feet per day, processing facilities with a total processing capacity of 340 million cubic feet per day and a transmission pipeline with a capacity of approximately 375 million cubic feet per day. The Crosstex LIG system is an intrastate pipeline system in Louisiana, which consists of approximately 2,000 miles of mainly transmission pipelines, which extend from the Haynesville Shale in north Louisiana to onshore production in south central, and southeast Louisiana and processing facilities with a total processing capacity of 335 million cubic feet per day. The Partnership's south Louisiana natural gas processing and liquids assets include approximately 1.7 billion cubic feet per day of processing capacity, 54,000 billion cubic feet per day of fractionation capacity, 3.1 million barrels of underground storage and approximately 440 miles of liquids transport lines. The Partnership's Ohio River Valley assets include a 4,500-barrel-per-hour crude oil barge loading terminal on the Ohio River, a crude oil rail loading terminal on the Ohio Central Railroad network that is being expanded to a 20-spot operation and approximately 200 miles of crude oil pipelines in Ohio and West Virginia. The assets also include 500,000 barrels of above ground storage and a trucking fleet of approximately 100 vehicles comprised of both semi and straight trucks.
Crosstex Energy Inc
2501 CEDAR SPRINGS
DALLAS TX 75201