Key Developments For Crosstex Energy, L.P.
Crosstex Energy, L.P. (XTEX.O) (Nasdaq)
Crosstex Energy, L.P. And Crosstex Energy, Inc. Acquires Eunice Natural Gas Liquids Processing Plant, Fractionation Facility For $42 Million
Crosstex Energy, L.P. and Crosstex Energy, Inc. announced that the Partnership has acquired the Eunice natural gas liquids (NGLs) processing plant and fractionation facility from Phillip Morris for approximately $42 million, which includes $18 million of assumed debt. Previously, Crosstex managed the plant and facility, which are located in south central Louisiana, under an operating lease with Phillip Morris.
Crosstex Energy, L.P. And Crosstex Energy, Inc. Completes Sale of Natural Gas Treating Business To Kinder Morgan Energy Partners for $266 Million
Crosstex Energy, L.P. and Crosstex Energy, Inc. announced the completion of the sale of natural gas treating business to Houston-based Kinder Morgan Energy Partners, L.P. The purchase price was approximately $266 million, including working capital and closing adjustments. Crosstex will use the net proceeds from the transaction to pay down approximately $259 million of outstanding debt. Goldman, Sachs & Co. served as the exclusive financial advisor to Crosstex in connection with the transaction.
Crosstex Energy, L.P. And Crosstex Energy, Inc Enters Into Agreement To Sell Natural Gas Treating Business To Kinder Morgan Energy Partners, L.P.
Crosstex Energy, L.P. and Crosstex Energy, Inc. announced that the Partnership has entered into an agreement to sell the Partnership's natural gas treating business to Houston-based Kinder Morgan Energy Partners, L.P. for $266 million, including working capital, Proceeds from the sale, which will be used to pay down approximately $260 million of the Partnership's outstanding debt, and proceeds from the recent sale of the Partnership's Mississippi, Alabama and South Texas assets will fully satisfy the $300 million target for debt reduction established in the Partnership's amendments to its debt facilities. The Partnership expects the sale to close in the fourth quarter of 2009.
Crosstex Energy, L.P. Completes Sale Of Mississippi, Alabama And South Texas Assets
Crosstex Energy, L.P. announced the completion of the sale of its Mississippi, Alabama and South Texas assets to Southcross Energy, LLC, a Dallas-based natural gas transportation and processing company for $220 million. The Company will use the net proceeds from the transaction to repay approximately $212 million of the Partnership's outstanding debt, which will satisfy the targets for debt reductions in September 2009 and December 2009 established in the Partnership's amendments to its debt facilities.
Crosstex Energy, L.P. To Sell Mississippi, Alabama And South Texas Assets For $220 Million
Crosstex Energy, L.P. announced that it has entered into a definitive agreement to sell its assets in Mississippi, Alabama and South Texas for $220 million to Southcross Energy, LLC, a Dallas based natural gas transportation and processing company. Proceeds from the sale will be used to pay down more than $200 million of the Partnership`s outstanding debt, which will satisfy the targets for debt reductions in September 2009 and December 2009 established in the Partnership`s recent amendments to its debt facilities. The Partnership expects the sale to close on July 31, 2009.
