Crosstex Energy bulks up with LIG acquisition

摘要

With last week's announcement of its plan to buy Louisiana Intrastate Gas from American Electric Power for US76.2-mil,midstream natural gas company Crosstex Energy embarks on its largest acquisition.It would nearly double its transportation and processing assets along the US Gulf Coast.The LIG assets include some 2,000 miles of gas gathering and transmission pipelines in Louisiana,throughput of about 800,000 Mcf/d and five processing plants.Once the purchase is complete,expected within 90 days,Dallas-based Crosstex said it would own 4,500 miles of pipeline with 1.2 Bcf/d of volume,as well as more than 700,000 Mcf/d of processing capacity.