The Crosstex Energy companies, Crosstex Energy, L.P. and Crosstex Energy, Inc. announced that the Partnership is continuing to expand its gas gathering and processing capabilities in the Permian Basin through a new long term, fee-based agreement with a major oil and gas producer in the region. This agreement builds upon the approximately $210 million in investments that Crosstex has already made in the Permian Basin to take advantage of growing production in the region, including its joint venture with Apache Corporation, the Mesquite fractionator and the Bearkat gathering and processing complex.

In conjunction with the agreement, the Partnership is constructing a new 35-mile, 12-inch diameter high-pressure pipeline that will provide critical gathering capacity for the previously announced Bearkat natural gas processing complex. The incremental investment for the new pipeline extension project is expected to be approximately $70 million.

Tags: Crosstex Energy companies