Crosstex Energy Announces Binding Open Season for NGL Pipeline System Project

abarrelfullabarrelfull wrote on 19 Sep 2011 11:31
Tags: crosstex n-america ngl pipeline usa

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In accordance with the open access requirements of the Federal Energy Regulatory Commission, Crosstex NGL Pipeline, L.P. today announced the start of a binding open season for volume commitments for interstate common carrier transportation service on a new natural gas liquids pipeline system (the Crosstex NGL Pipeline) that will transport unfractionated natural gas liquids (NGLs) produced in the Permian Basin, Midcontinent, Barnett Shale, Eagle Ford Shale, and Rocky Mountain areas from the Mont Belvieu, Texas area to NGL fractionation facilities in Eunice and Riverside, Louisiana. The open season will begin at 8:00 a.m. Central Time on September 14, 2011 and will close at 5:00 p.m. Central Time on October 14, 2011.

As announced on July 25, 2011, the Crosstex Energy companies, Crosstex Energy, L.P. (NASDAQ:XTEX) (the partnership) and Crosstex Energy, Inc. (NASDAQ:XTXI) plan to construct the Crosstex NGL Pipeline. This common carrier pipeline will have a preliminary design capacity of at least 70,000 barrels per day to Eunice, with a lesser amount of capacity available to Riverside. The Crosstex NGL Pipeline is scheduled to be operational in the first quarter of 2013. The Partnership is completing engineering studies, pipeline routing work and environmental permitting for this new NGL pipeline project.

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