Exhibit 99.1
FOR IMMEDIATE RELEASE
FEBRUARY 5, 2009
|
|
|
Contact: |
|
Jill McMillan, Manager, Public & Industry Affairs
Phone: (214) 721-9271
Jill.McMillan@CrosstexEnergy.com |
RHYS J. BEST ELECTED CHAIRMAN OF CROSSTEX ENERGY, L.P. BOARD OF DIRECTORS;
KYLE D. VANN APPOINTED TO AUDIT COMMITTEE
Barry E. Davis Remains President and CEO of Partnership and
Chairman, President and CEO of Crosstex Energy, Inc.
DALLAS,
February 5, 2009 --- Crosstex Energy, L.P. (NASDAQ:XTEX) (the Partnership) announced today that the Board of Directors of Crosstex Energy GP, LLC, the general partner of Crosstex Energy GP,
L.P., the general partner of the Partnership, has elected Rhys J. Best as Chairman and appointed
Kyle D. Vann to the Boards audit committee. Barry E. Davis remains President and Chief Executive
Officer of Crosstex Energy, L.P. (the Partnership) and Chairman, President and Chief Executive
Officer of Crosstex Energy, Inc. (NASDAQ: XTXI) (the Corporation). Mr. Best joined the
Partnerships Board in 2003 and was named the Boards lead director in 2008.
Rhys is a tremendous resource to the Partnership Board and Crosstexs management team. He has
extensive experience in the energy and banking industries, and has led companies through
challenging business cycles, said Barry E. Davis, Crosstex President and Chief Executive Officer.
I look forward to working with Rhys in his expanded role as Chairman of the Partnerships Board.
Mr. Best is the former Chairman, President and Chief Executive Officer of Lone Star Technologies,
Inc., acquired by United States Steel Corporation in 2007. Prior to joining Lone Star, he held
several leadership positions during his 20-year banking career.
-more-
Rhys J. Best Elected Chairman of Crosstex Energy, L.P. Board of Directors; Kyle D. Vann Appointed
to Audit Committee
Page 2 of 2
Vann appointed to audit committee
Mr. Vann, who joined the Board in 2006, will serve as the third independent member of the audit
committee of Crosstex Energy GP, LLC, the general partner of Crosstex Energy GP, L.P., the general
partner of the Partnership, which had consisted of two independent members since August 2008.
About the Crosstex Energy Companies
Crosstex Energy, L.P., a midstream natural gas company headquartered in Dallas, operates
approximately 5,700 miles of pipeline, 12 processing plants, four fractionators, and
approximately195 natural gas amine-treating plants and dew-point
control plants. Crosstex currently
provides services for 4.0 billion cubic feet per day of natural gas, or approximately eight
percent of marketed U.S. daily production.
Crosstex Energy, Inc. owns the two percent general partner interest, a 34 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.
###