| || |
|Crosstex Energy, L.P. |
Trades on the NASDAQ Exchange under the symbol XTEX.
| View printer-friendly version|
|Crosstex Energy Services, Inc. Acquires Millennium Gas Services|
|Dallas, Texas, October 31, 2001 – Crosstex Energy Services, Inc. today announced that it closed on the acquisition of Millennium Gas Services on October 11, 2001. The acquisition consists of 100 % of the stock of Millennium Gas Services. The assets acquired include a total of eleven (11) amine treating plants, five of which are currently in operation and 6 plants that will be added to Crosstex' inventory. The acquired plants in operation are primarily in Crosstex' core area of the Texas Gulf Coast.
“We made our entry into the treating business three years ago with the intention of becoming a leading player. Today, we believe we are second only to Hanover in the number of plants in operation, and we have one of the largest inventories of available amine plant equipment. We are pleased to have Dale Wilson, formerly the President of Millennium Gas Services, join Crosstex. Dale brings over 20 years of industry experience to our organization, with almost 10 years in the treating business,” said Chris Aulds, Executive Vice President of Crosstex, in charge of the Treating group.
In addition to the treating plants described above, Crosstex also has over 1400 miles of pipeline, 2 processing plants with a total capacity of over 120 MMCFD, and currently markets over 600 MMCFD. Since 1992, Crosstex has created a grass roots energy services company by providing natural gas gathering, treating, processing, compression, and natural gas and crude oil marketing services to independent oil & gas producers and consumers.