|Crosstex Energy Services Acquires Florida Gas Transmission 20”|
Dallas, Texas, June 24, 2002 – Crosstex Energy Services, Ltd. is pleased to announce that it has completed the purchase of approximately 70 miles of 20" pipeline from Florida Gas Transmission that will be used to connect Crosstex's existing CCNG system with its Gulf Coast System. The pipeline will also provide Crosstex with access to markets into Florida Gas at the MOPS Delivery Point, Zone 1, and through new connections to be built to a new supply point into the Conoco Lobo Pipeline at Agua Dulce.
The interconnects between the existing Crosstex systems will provide Crosstex with additional capability to balance supply and demand within its systems. Gas is expected to be flowing between the systems and into the new markets by August of this year.
“This provides a strategic connection between our pipeline systems in the Texas Gulf Coast region and gives us access to the premium Florida markets. We will now be able to provide natural gas users in Florida with long-term, competitively-priced supplies”, said Barry Davis, President and CEO of Crosstex.
Crosstex is a privately-owned midstream natural gas company, with over 1500 miles of pipeline, 2 processing plants with a total capacity of over 120 MMCFD, and 50 natural gas treating plants. The company currently markets over 600 MMCFD. Since 1992, Crosstex has created a grass roots energy services company by providing natural gas gathering, treating, processing, transmission and marketing services to independent oil & gas producers and consumers.