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Crosstex was founded in 1996, and in December 2002, Crosstex completed the initial public offering of Crosstex Energy, L.P (NASDAQ: XTEX), a master limited partnership, or MLP. MLPs generally are not subject to federal income tax, and items of income, gain, loss and deduction are passed through to the partners. In January, 2004, Crosstex brought public the owner of the general partner of Crosstex Energy, L.P. with the IPO of Crosstex Energy, Inc (NASDAQ: XTXI). This was the first IPO of a general partner, and so investors have two alternatives in which to invest in the growth of Crosstex.
Crosstex Energy, L.P. (NASDAQ: XTEX) is an integrated midstream energy partnership headquartered in Dallas that offers diversified, tailored customer solutions spanning the energy value chain with services and infrastructure that link energy production with consumption. XTEX operates approximately 3,500 miles of natural gas, natural gas liquids and oil pipelines, 10 natural gas processing plants and four fractionators, as well as barge and rail terminals, product storage facilities, brine water disposal wells and an extensive truck fleet. XTEX has the right platform, the right opportunities and the right people to pursue its growth-focused business strategy.