Crosstex Energy (XTEX) Expands Barnett Shale Gathering System
The Crosstex Energy companies, Crosstex Energy, L.P. (NASDAQ: XTEX) and Crosstex Energy, Inc. (NASDAQ: XTXI) announced the Partnership will expand its natural gas gathering system in the Barnett Shale play in North Texas by constructing a $25 million 15-mile pipeline project to serve major gas producer customers.
The project, which is supported by volumetric commitments, includes a seven-mile low-pressure pipeline, an eight-mile high-pressure pipeline and a compressor station in southwest Tarrant County that will provide customers with greater takeaway capacity to accommodate their transportation requirements. The anticipated peak flow rate of the new gathering system in 2012 is more than 100 million cubic feet per day. The project, scheduled to be completed and operational in the first-quarter of 2011, is expected to have throughput of approximately 100 billion cubic feet of gas during the first four years of operation.
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