Crosstex Energy
(NASDAQ: XTXI)
20.94
+0.10
+0.48%
+0.10
+0.48%
MORE ON XTXI
COMPANY INFORMATION
| Exchange: | NASDAQ national market |
| Stock: | Crosstex Energy, Inc. |
| Industry: | Oil & Gas Midstream |
| Employees: | 736 |
DESCRIPTION
| Crosstex Energy, Inc., is a Delaware corporation, formed in April 28, 2000. It completed its initial public offering in January 2004. The Company through its subsidiaries, Crosstex Energy, L.P., is engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NGLs). The Company connects the wells of natural gas producers in its market areas to its gathering systems, processes natural gas for the removal of NGLs, fractionates NGLs into purity products and markets those products for a fee, transports natural gas and ultimately provides natural gas to a variety of markets. The Company purchases natural gas from natural gas producers and other supply sources and sells that natural gas to utilities, industrial consumers, other marketers and pipelines. The Company operates processing plants that process gas transported to the plants by major interstate pipelines or from its own gathering systems under a variety of fee arrangements. In addition, the Company purchases natural gas from producers not connected to its gathering systems for resale and sell natural gas on behalf of producers for a fee. The Company’s geographic focus is in the North Texas Barnett Shale (NTX) and in Louisiana, which has two reportable business segments (the Crosstex LIG system and the south Louisiana processing and NGL assets, or PNGL). Its combined midstream assets consist of over 3,300 miles of natural gas gathering and transmission and NGL pipelines, nine natural gas processing plants and three fractionators located in two primary regions: north Texas and Louisiana. Its gathering systems consist of a network of pipelines that collect natural gas from points near producing wells and transport it to larger pipelines for further transmission. The Company's transmission pipelines primarily receive natural gas from its gathering systems and from third party gathering and transmission systems and deliver natural gas to industrial end-users, utilities and other pipelines. Its processing plants remove NGLs and CO2 from a natural gas stream and its fractionators separate the NGLs into separate NGL products, including ethane, propane, iso-butane and normal butanes and natural gasoline. The Company faces strong competition in obtaining natural gas supplies and in the marketing and transportation of natural gas and NGLs. Its competitors include major integrated and independent E&P oil companies, natural gas producers, interstate and intrastate pipelines and other natural gas gatherers and processors. |
DATA PROVIDERS
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
RECENT QUOTES
WATCHLIST
You're not signed in
You’re not signed in to MSN Money, so you’re seeing the Watchlist that is tied to your computer. For a more consistent Watchlist experience, sign in to MSN Money.
Learn more
Sponsored by:
MARKET UPDATE
[BRIEFING.COM] The major averages ended higher across the board as the S&P 500 advanced 0.8%. Equities climbed steadily since the opening bell as investors prepared for tomorrow's policy decision from the Federal Reserve. Although chatter in recent w
...
More
MORE MARKET NEWS
Sponsored by: