Apache, Crosstex in Gas Plant Deal

- July 13th, 2011

Zacks reports that Apache Corp. (NYSE:APA), Crosstex Energy L.P. (NASDAQ:XTEX) and Crosstex Energy Inc. (NASDAQ:XTXI) have teamed up to build a new natural gas processing plant in the Permian Basin in West Texas.

Zacks reports that Apache Corp. (NYSE:APA), Crosstex Energy L.P. (NASDAQ:XTEX) and Crosstex Energy Inc. (NASDAQ:XTXI) have teamed up to build a new natural gas processing plant in the Permian Basin in West Texas.

The market news is quoted as saying:

As per the agreement between the firms, the Crosstex companies and Apache will jointly own the facility and each fund 50% of the total investment of $85 million.

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