DALLAS, April 26 /PRNewswire-FirstCall/ -- Crosstex Energy, L.P.
(Nasdaq: XTEX) (the Partnership) and Crosstex Energy, Inc. (Nasdaq: XTXI) (the
Corporation) announced that, effective as of May 8, 2006, Kyle D. Vann will
join the board of directors of Crosstex Energy GP, LLC (the general partner of
Crosstex Energy GP, L.P., the general partner of the Partnership), and James
C. Crain will join the board of directors of the Corporation.
Both men will replace C. Roland Haden, who has announced that he is
resigning from his board positions with Crosstex Energy GP, LLC and the
Corporation on May 8, 2006. Mr. Crain currently serves on the board of
directors of Crosstex Energy GP, LLC.
"We are extremely grateful for Roland's leadership, commitment and
contribution to Crosstex over the past four years, and he will be greatly
missed," said Barry E. Davis, president and chief executive officer of
Crosstex. "At the same time, we are very pleased to welcome Kyle Vann and Jim
Crain to the boards of Crosstex Energy GP, L.P. and the Corporation. Kyle is
of the highest integrity and character with vast experience in the energy
industry, and he will be an asset to Crosstex as we pursue strategies to
continue our growth as a premier midstream energy services company. We know
Jim well from his past service on the Crosstex Energy GP, LLC board, and we
are excited to have him join the Corporation's board as well."
Mr. Vann began his career with Exxon Corporation in 1969. After ten years
at Exxon, he joined Koch Industries and served in various leadership
capacities, including senior vice president from 1995 to 2000. In 2001, he
then took on the role of CEO with Entergy-Koch, LP (EKLP), a profitable energy
trading and transportation company, which was sold in 2004. Currently, Mr.
Vann, who is retired, continues to consult with Entergy and Texon, L.P. He
also serves on the boards of Texon, L.P. and Legacy Reserves, LLC.
Mr. Vann graduated from the University of Kansas with a Bachelor of
Science degree in chemical engineering. He is a member of the Board of
Advisors for the University of Kansas School of Engineering. Mr. Vann also
serves on the board of various charitable organizations.
Since 1989, Mr. Crain has served as president of Marsh Operating Company,
an investments management company focusing on energy investing, and since 1997
as general partner of Valmora Partners, L.P., a private investment
partnership. Mr. Crain climbed the ranks at Marsh, beginning as vice president
of land and legal in 1984. Prior to Marsh, he served as a partner at Jenkens &
Gilchrist where he headed the law firm's energy section. Mr. Crain graduated
from the University of Texas at Austin with a bachelor of business
administration degree, a master's in professional accounting and a doctorate
of jurisprudence. Mr. Crain also serves on the board for the Texas State
About the Crosstex Energy Companies
Crosstex Energy, L.P., a midstream natural gas company headquartered in
Dallas, operates over 5,000 miles of pipeline, ten processing plants, four
fractionators, and approximately 150 natural gas amine treating plants and 22
dew point control plants. Crosstex currently provides services for over 3.0
Bcf/day of natural gas, or approximately 6.0 percent of marketed U.S. daily
production based on August 2005 Department of Energy data.
Crosstex Energy, Inc. owns the two percent general partner interest, an
approximately 38 percent limited partner interest, and the incentive
distribution rights of Crosstex Energy, L.P.
Additional information about the Crosstex companies can be found at
SOURCE Crosstex Energy, L.P.; Crosstex Energy, Inc.
/CONTACT: Jill McMillan, +1-214-721-9271, or
email@example.com , for Crosstex Energy, L.P. and Crosstex
/Web site: http://www.crosstexenergy.com /
CO: Crosstex Energy, L.P.; Crosstex Energy, Inc.; Crosstex Energy GP, LLC;
Crosstex Energy GP, L.P.
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5853 04/26/2006 07:00 EDT http://www.prnewswire.com