Exhibit 99.1
CROSSTEX ENERGY, L.P. COMPLETES DIRECT EQUITY PLACEMENT
DALLAS,
April 9, 2008 — Crosstex Energy, L.P. (NASDAQ: XTEX) (the Partnership) announced today that
it has agreed to sell approximately 3.3 million common units to a group of entities
affiliated with Kayne Anderson Capital Advisors, L.P. and Swank Energy Income Advisors, LP. Net
proceeds from the issuance, including the general partner’s proportionate capital contribution and
expenses associated with the issuance, will be approximately $102 million. After completion of the
offering, the Partnership will have approximately 44.7 million common units outstanding. Closing
is scheduled for Wednesday, April 9, 2008.
The price for the common units, which will be issued under the Partnership’s existing shelf
registration statement, was $30.00 per unit, which represents an approximate seven percent discount to the
closing price of the common units on April 7, 2008.
“This transaction will enable us to continue our organic growth strategy,” said Barry E. Davis,
Crosstex President and Chief Executive Officer. “This equity issuance will be used to pay down our
bank revolver, which will create additional financial flexibility.”
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 190 natural gas
amine-treating plants and dew-point control plants. Crosstex currently provides services for over
3.5 billion cubic feet per day of natural gas, or approximately seven percent of marketed U.S.
daily production.
After giving effect to this offering, Crosstex Energy, Inc. (NASDAQ:XTXI) (the Corporation) owns
the two percent general partner interest, a 36 percent limited partner interest, and the incentive
distribution rights of Crosstex Energy, L.P.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the
securities described herein, nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such jurisdiction. The offering may be made only
by means of a prospectus and related prospectus supplement.
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