The Dallas Business Journal reported on Friday, August 10, 2007 that the Crosstex Energy partnership that has a natural gas gathering, transportation and storage of natural gas business posted a net gain for the second quarter of 2007.
The Crosstex Energy partnership head quartered in Dallas Texas which has a natural gas gathering, transportation and storage company reported a net income of $2.9 million for the period, compared to a net loss of $2.3 million in the second quarter of 2006.
The Crosstex Energy partnership head quartered in Dallas Texas said the company saw continued growth in its core North Texas area, in the Barnett Shale play where major gas producers have confirmed better-than-expected results and plans for continued aggressive drilling plans.
"During the second quarter, there were 70 well connections to our gathering systems," said Barry Davis, Crosstex president and CEO of The Crosstex Energy partnership head quartered in Dallas Texas. "As a result, Crosstex's gathered volumes have more than doubled in North Texas since the Chief acquisition only a year ago -- right on track with our expectations."
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