US' Kinder Morgan buys Crosstex's gas treating assets

摘要

Washington-Crosstex Energy has agreed to sell its natural gas treating business to Kinder Morgan Energy Partners for $266 million, Crosstex said August 31. Crosstex said it will use proceeds from the sale, which is expected to close in the fourth quarter, to pay down about $260 million of its outstanding debt. Closing is contingent on the approval of the lenders under Crosstex's revolving credit and senior note agreements and certain other conditions, the Dallas-based midstream firm said.