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The Crosstex Energy companies, Crosstex Energy, L.P.
XTEX (the
Partnership) and Crosstex Energy, Inc.
XTXI (the Corporation), are
providing this update on the impact and expected impacts of the slurry near
Bayou Corne, Assumption Parish, Louisiana, on the Partnership's facilities and
operations.
In early August, a slurry-filled sinkhole developed in Assumption Parish near
Bayou Corne, Louisiana. The cause of the slurry is currently under
investigation by Louisiana state and local officials. Consequently, the
Partnership took a section of its 36-inch-diameter natural gas pipeline
located near the sinkhole out of service. Service to certain markets,
primarily in the Mississippi River area, has been curtailed or interrupted,
and the Partnership has worked with its customers to secure alternative
natural gas supplies so that disruptions are minimized. The Partnership
expects that the ongoing overall business impact on the services provided by
the pipeline, which include gathering, processing, transportation and end-user
sales, will be approximately $250,000- $300,000 per month while the pipeline
section is out of service.
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