Oil and Gas

The Crosstex Energy companies, Crosstex Energy, L.P. (NASDAQ:XTEX) and Crosstex Energy, Inc. (NASDAQ:XTXI) announced that they are proceeding with the second phase of their Cajun-Sibon natural gas liquids (NGL) pipeline extension and fractionator expansion in Louisiana.

The Crosstex Energy companies, Crosstex Energy, L.P. (NASDAQ:XTEX) and Crosstex Energy, Inc. (NASDAQ:XTXI) announced that they are proceeding with the second phase of their Cajun-Sibon natural gas liquids (NGL) pipeline extension and fractionator expansion in Louisiana.

As quoted in the press release:

Phase II, which is expected to be completed in the second half of 2014, will include the following: the expansion of the Partnership’s Cajun-Sibon pipeline capacity by an additional 50,000 barrels per day of raw-make NGL for a total project capacity of 120,000 barrels per day; the installation of a 100,000-barrel-per-day fractionator adjacent to the Partnership’s Plaquemine natural gas processing plant.

Crosstex’s President and CEO, Barry Davis, said:

We are very pleased that the market continues to be strongly supportive of our Cajun-Sibon project. With an estimated combined adjusted EBITDA of $115 to $130 million, we believe Phases I and II will significantly increase our PNGL assets’ contribution to the bottom line, creating significant value for our investors.

To view the whole press release, click here.

MARKETS

Markets
TSX19545.94+40.61
TSXV655.20+0.44
DOW32812.50+416.33
S&P 5004155.17+63.98
NASD12668.16+319.40
ASX6975.90-22.20

COMMODITIES

Commodities
Gold1768.12+4.50
Silver20.02+0.03
Copper3.48+0.01
Palladium2016.00+21.00
Platinum903.50+6.50
Oil91.29+0.63
Heating Oil3.42+0.01
Natural Gas8.25-0.01

DOWNLOAD FREE REPORTS

×