Exhibit 99.1
Crosstex Completes Acquisition of Processing and Liquids Business for $486.4 Million
DALLAS, Nov 01, 2005 /PRNewswire-FirstCall via COMTEX News Network/ — Crosstex Energy, L.P.
(Nasdaq: XTEX) (the Partnership) announced today that, through its wholly-owned subsidiary
Crosstex Energy Service, L.P., the company has completed the previously-announced acquisition of
the El Paso Corporation’s (NYSE: EP) processing and liquids business in South Louisiana for $486.4
million.
“These assets have been operated by a great group of employees, and we welcome them as our new
teammates in South Louisiana and in our new Houston office,” said Barry E. Davis, President and
Chief Executive Officer of Crosstex Energy. “We expect a smooth integration with our existing South
Louisiana assets, and expect to be able to capitalize on synergies almost immediately.”
The acquired assets include 2.0 billion cubic feet per day (Bcf/d) of processing capacity, 66,000
barrels per day of fractionation capacity, 2.4 million barrels of underground storage, and
approximately 450 miles of liquids transport lines. The assets provide Crosstex with the
opportunity to participate in the growing development of deepwater Gulf of Mexico reserves.
About Crosstex
Crosstex Energy, L.P., a mid-stream natural gas company headquartered in Dallas, operates
approximately 5,000 miles of pipeline, nine processing plants, four fractionators and over 100
natural gas amine treating plants.
Crosstex Energy, Inc. (Nasdaq: XTXI) owns the two percent general partner interest, a 44 percent
limited partner interest, and the incentive distribution rights of Crosstex Energy, L.P.
Additional information about the Crosstex companies can be found at http://www.crosstexenergy.com .
This press release contains “forward-looking statements” within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 27E of the Securities Exchange Act of 1934, as
amended. All statements other than historical facts included herein, including statements regarding
the anticipated synergies, constitute forward-looking statements. Although the Partnership believes
that the expectations reflected in the forward-looking statements are reasonable, it can give no
assurance that such expectations will prove to be correct.
Contact: Barry E. Davis, President and Chief Executive Officer
William W. Davis, Executive V.P. and Chief Financial Officer
Phone: (214) 953-9500
SOURCE Crosstex Energy, L.P.
Barry E. Davis, President and Chief Executive Officer, or William W. Davis, Executive
V.P. and Chief Financial Officer, both of Crosstex Energy, L.P., +1-214-953-9500
http://www.prnewswire.com