DALLAS, Oct 27, 2004 /PRNewswire-FirstCall via COMTEX/ -- The Crosstex Energy companies,
Crosstex Energy, L.P. (Nasdaq: XTEX) (the Partnership) and Crosstex Energy,
Inc. (Nasdaq: XTXI) (the Corporation), today announced an increase in third
quarter distributions and dividends. The companies have increased
distributions and dividends every quarter since the initial public offering of
Third quarter distributions and dividends are as follows.
-- Quarterly distributions on the Partnership's common and subordinated
units will increase from $0.42 per unit to $0.43 per unit, payable
November 18 to unitholders of record on November 5.
-- Quarterly dividends on the Corporation's common stock will increase
from $0.33 per common share to $0.35 per common share, payable
November 18 to shareholders of record on November 5.
"Quarterly distributions from the Partnership have increased 23 percent
since the third quarter of last year, and in just six months since the first
declared dividend by the Corporation, quarterly dividends have increased
17 percent," said Barry E. Davis, President and Chief Executive Officer of the
Crosstex Energy companies. "Again, these increases are a direct reflection of
the growth in third quarter operating results and our commitment to share that
growth with our unitholders and shareholders."
About the Crosstex Energy Companies
Crosstex Energy, L.P., a mid-stream natural gas company headquartered in
Dallas, operates over 4,500 miles of pipeline, five processing plants, and
over 60 natural gas amine treating plants. Crosstex currently provides
services for over 1.5 BCF/day of natural gas.
Crosstex Energy Inc. owns the general partner, a 54.3 percent limited
partner interest and the incentive distribution rights of Crosstex Energy,
Additional information about the Crosstex companies can be found at
This press release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. All statements other
than statements of historical facts included or incorporated herein may
constitute forward-looking statements. Although the companies believe that
the expectations reflected in the forward-looking statements are reasonable,
they can give no assurance that such expectations will prove to be correct.
Contact: Barry E. Davis, President and Chief Executive Officer
William W. Davis, Executive V.P. and Chief Financial Officer
Phone: (214) 953-9500
SOURCE Crosstex Energy, Inc.