EXHIBIT 99.1
PRESS RELEASE
CROSSTEX ANNOUNCES INCREASES IN DIVIDENDS AND DISTRIBUTIONS
DALLAS—(BUSINESS WIRE)—Jan. 24, 2007—The Crosstex Energy companies today announced increases in
the quarterly distribution for Crosstex Energy, L.P. (NASDAQ: XTEX) (the Partnership) and the
quarterly dividend for Crosstex Energy, Inc. (NASDAQ: XTXI) (the Corporation):
| |
• |
|
The quarterly distribution on the Partnership’s common and subordinated units will
increase to $0.56 per unit from $0.55 per unit payable February 15 to unitholders of record
February 2. |
| |
| |
• |
|
The quarterly dividend on the Corporation’s common stock will increase to $0.22(a) per
share from $0.213 per share payable February 15 to stockholders of record February 2. |
(a) Reflects a December 15, 2006 three-for-one split of the Corporation’s general partner shares.
About the Crosstex Energy Companies
Crosstex Energy, L.P., a midstream natural gas company headquartered in Dallas, operates over 5,000
miles of pipeline, 12 processing plants, four fractionators, and approximately 160 natural gas
amine-treating plants in service and approximately 35 dew point control plants. Crosstex currently
provides services for over 3.0 Bcf/day of natural gas, or approximately 6.0 percent of marketed
U.S. daily production based on August 2006 Department of Energy data.
Crosstex Energy, Inc. owns the two percent general partner interest, a 42 percent limited partner
interest, and the incentive distribution rights of Crosstex Energy, L.P.
Additional information about the Crosstex companies can be found at 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 21E of the Securities Exchange Act of 1934, as
amended. All statements other than statements of historical facts included herein constitute
forward-looking statements. Although the companies believe that the expectations reflected in the
forward-looking statements are reasonable, they can give no assurance that such expectations will
prove to be correct.
| |
|
|
CONTACT:
|
|
Crosstex Energy, L.P. |
|
|
Investor Contact: |
|
|
Crystal C. Bell, 214-721-9407 |
|
|
Investor Relations Specialist |
|
|
or |
|
|
Media Contact: |
|
|
Jill McMillan, 214-721-9271 |
|
|
Public Relations Specialist |