DALLAS--(BUSINESS WIRE)--March 8, 2007--Crosstex Energy, Inc.
(NASDAQ: XTXI) (the Corporation) today announced that it has been
advised by Yorktown Energy Partners IV, L.P. and Yorktown Energy
Partners V, L.P., early investors in Crosstex Energy, Inc., that these
entities have distributed to their partners substantially all of the
remaining approximately 2.3 million shares of the Corporation's common
stock that they have owned, effective March 5, 2007, in accordance
with the terms of their respective partnership agreements. The
distributions, which constitute about five percent of the
Corporation's outstanding common stock, are consistent with the
program that the Yorktown partnerships had implemented during the last
several quarters, which has now been completed.
The principals of the Yorktown general partners have advised the
Corporation that they collectively continue to hold a substantial
portion of the common stock that they have received in the series of
"These distributions have improved the liquidity available to
investors in the Corporation and have removed the overhang of stock
that had concerned many of our investors," said Barry E. Davis,
President and Chief Executive Officer of Crosstex. "We are grateful
for the ongoing support of Yorktown's principals."
About the Crosstex Energy Companies
Crosstex Energy, L.P. (NASDAQ: XTEX) (the Partnership), a
midstream natural gas company headquartered in Dallas, operates over
5,000 miles of pipeline, 12 processing plants, four fractionators, and
approximately 160 natural gas amine-treating plants in service and
approximately 35 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 2006
Department of Energy data.
Crosstex Energy, Inc. owns the two percent general partner
interest, a 42 percent limited partner interest, and the incentive
distribution rights of Crosstex Energy, L.P.
Additional information about the Crosstex companies can be found
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
herein, including statements regarding the future liquidity available
to investors in Crosstex Energy, Inc., constitute forward-looking
statements. Although Crosstex Energy, Inc. believes that the
expectations reflected in the forward-looking statements are
reasonable, it can give no assurance that such expectations will prove
to be correct.
CONTACT: Crosstex Energy, Inc.
Crystal C. Bell, 214-721-9407
Investor Relations Specialist
Jill McMillan, 214-721-9271
Public Relations Specialist
SOURCE: Crosstex Energy, Inc.