Crosstex Energy Opens Regional Office in Fort Worth.Company's Growing Business in Barnett Shale The Barnett Shale is a geological formation of economic significance. It consists of sedimentary rocks of Mississippian age in the U.S. State of Texas. The formation is estimated to stretch from the city of Dallas to west of the city of Fort Worth and south, covering 5,000 square Gas Formation Prompts Opening of New Office Space DALLAS -- The Crosstex Energy, L.P. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :XTEX) team recently celebrated the opening of the company's new regional office, a 12,000-square-foot facility located in the International Plaza International Plaza may refer to:
Crosstex provides natural gas gathering, processing, transmission and other services to natural gas producers drilling in the Barnett Shale. Crosstex has approximately 50 employees in Tarrant, Denton and Parker counties, and a companywide employee population of nearly 700 people. Barry E. Davis, Crosstex President and Chief Executive Officer Crosstex, and a small group of only nine employees founded the company 11 years ago. "The Barnett Shale region will continue to be a significant growth driver for Crosstex in the foreseeable future," said Davis. "The new Fort Worth office demonstrates our commitment to expand our corporate infrastructure in Fort Worth, which we need to support this growth. We look forward to becoming more involved in the Fort Worth business community and to working even more closely with local leaders and residents." The Fort Worth regional office will serve as an extension of the company's Dallas headquarters and will house both field and corporate functions including engineering, right-of-way and construction personnel. About the Crosstex Energy Companies Crosstex Energy, L.P. (the Partnership), a midstream mid·stream n. 1. The middle part of a stream. 2. The part of a course that is neither at the beginning nor at the end: the midstream of life. Noun 1. natural gas company headquartered in Dallas, operates over 5,000 miles of pipeline, 13 processing plants, four fractionators, and approximately 200 natural gas amine-treating plants and dew point dew point: see dew. control plants. Crosstex currently provides services for over 3.5 Bcf/day of natural gas, or approximately 7.0 percent of marketed U.S. daily production. Crosstex Energy, Inc. (NASDAQ:XTXI) (the Corporation) owns the two percent general partner interest, a 36 percent limited partner interest, and the incentive distribution rights of Crosstex Energy, L.P. Additional information about the Crosstex companies can be found at www.crosstexenergy.com. |
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