The Crosstex Energy companies, Crosstex Energy, L.P.
(NASDAQ:XTEX) (the Partnership) and Crosstex Energy, Inc.
(NASDAQ:XTXI) (the Corporation), today reported results for the
fourth quarter and full year 2013.
Fourth Quarter 2013 - Crosstex Energy, L.P. Financial
Results
The Partnership realized adjusted EBITDA of $53.9 million and
distributable cash flow of $31.8 million for the fourth quarter of
2013, compared with adjusted EBITDA of $51.7 million and
distributable cash flow of $26.7 million for the fourth quarter of
2012. The Partnership’s net loss for the fourth quarter of 2013 was
$17.7 million versus a net loss of $24.5 million for the fourth
quarter of 2012.
The Partnership’s fourth quarter 2013 gross operating margin of
$96.1 million decreased $7.9 million compared to a gross operating
margin of $104.0 million for the fourth quarter of 2012. Adjusted
EBITDA, distributable cash flow and gross operating margin are
non-GAAP financial measures and are explained in greater detail
under “Non-GAAP Financial Information,” and reconciliations of
these measures to their most directly comparable GAAP measures are
included in the tables at the end of this news release.
“This was a transformational year for Crosstex as we continued
to execute on our strategy to enhance our scale and
diversification,” said Barry E. Davis, Crosstex President and Chief
Executive Officer. “We completed phase one of our Cajun-Sibon
expansion project and announced the agreement to combine with
Devon’s midstream assets to create EnLink Midstream. The
transaction provides us with greater operating leverage, a strong
financial foundation and significant opportunities for growth. We
look forward to completing the transaction in the first quarter,
which will create value for our equity holders, customers and
employees.”
The Partnership reports results by operating segment principally
based on regions served. Reportable segments consist of natural gas
gathering, processing and transmission operations in the Barnett
Shale in north Texas and in the Permian Basin in west Texas (NTX);
gas pipelines and gas processing plants in Louisiana (LIG); gas
processing and NGL assets, including NGL fractionation and
marketing activities in south Louisiana (PNGL); and rail, truck,
pipeline and barge facilities in the Ohio River Valley (ORV).
Each business segment’s contribution to the fourth quarter 2013
gross operating margin compared with that of the fourth quarter of
2012, and the factors affecting those contributions, are described
below:
- The PNGL segment’s gross operating
margin increased by $6.4 million primarily due to increased margins
from NGL fractionation and marketing activities related to the
start-up of phase one of the Cajun-Sibon pipeline expansion, which
was partially offset by lower truck and rail NGL volumes and lower
storage fee revenues.
- The LIG segment’s gross operating
margin decreased by $3.2 million primarily due to lower margins
from the gathering and transmission assets from the expiration of
certain contracts in north Louisiana and a reduction in north
Louisiana treating and blending volumes, which was partially offset
by increased processing margins in the fourth quarter of 2013.
- The ORV segment's gross operating
margin decreased by $3.3 million primarily due to decreased brine
disposal and handling activity along with reduced crude oil and
condensate volumes and margins.
- The NTX segment’s gross operating
margin decreased by $7.8 million primarily due to decreased rich
and lean gathered and processed volumes on the North Texas system
and a decline in activity at the Mesquite fractionator and rail
terminal from the fourth quarter of 2012.
The Partnership’s fourth quarter 2013 operating expenses were
$37.1 million, an increase of $0.1 million, or 0.3%, from the
fourth quarter of 2012. General and administrative expenses
increased by $1.1 million, or 6.5%, versus the fourth quarter of
2012 largely due to increased stock-based compensation.
Depreciation and amortization expense for the fourth quarter of
2013 decreased by $13.6 million, or 26.1%, compared with the fourth
quarter of 2012 primarily due to accelerated depreciation of the
Sabine Pass Plant recorded in the fourth quarter of 2012 and
decreased intangible amortization. Interest expense for the fourth
quarter of 2013 decreased by $1.3 million to $21.3 million
primarily due to lower capitalized interest in the fourth quarter
of 2012.
The net loss per limited partner common unit for the fourth
quarter of 2013 was $0.38 per common unit compared with a net loss
of $0.51 per common unit for the fourth quarter of 2012.
Full Year 2013 - Crosstex Energy, L.P. Financial
Results
The Partnership realized adjusted EBITDA of $214.9 million and
distributable cash flow of $126.3 million for 2013, compared with
adjusted EBITDA of $214.1 million and distributable cash flow of
$112.8 million for 2012. The Partnership’s net loss for 2013 was
$113.1 million versus a net loss of $40.1 million for 2012. The
increase in net loss in 2013 was primarily the result of an
impairment expense of $72.6 million in the third quarter of 2013
due to the termination of customer contracts associated with the
Eunice processing plant which was shut down in August 2013.
The Partnership’s 2013 gross operating margin of $396.3 million
increased by $2.5 million compared to a gross operating margin of
$393.8 million for 2012. Each business segment’s contribution to
2013 gross operating margin compared with 2012 gross operating
margin, and the factors affecting those contributions, are
described below:
- The PNGL segment’s gross operating
margin increased by $20.4 million primarily due to increased
margins from NGL fractionation and marketing activities, including
the impact of the November 2013 start-up of phase one of the
Cajun-Sibon pipeline expansion, and increased margins from crude
oil terminal activity, which were partially offset by decreased
south Louisiana processing activity.
- The ORV segment's gross operating
margin was $53.1 million in 2013, which included twelve months of
operations, compared to $25.7 million in 2012, which only included
six months of operations from the date of the acquisition. Gross
operating margin from oil and condensate handling totaled $35.8
million and gross operating margin from brine disposal and handling
totaled $17.3 million in 2013, as compared to gross operating
margins from crude oil and condensate handling totaling $17.3
million and brine disposal and handling totaling $8.5 million in
2012.
- The LIG segment’s gross operating
margin decreased by $24.2 million primarily due to lower margins
from the gathering, transmission and processing assets because of
lost opportunity sales volumes from lower processing margins, a
reduction in treating and blending volumes and sales volumes losses
related to the Bayou Corne sinkhole.
- The NTX segment’s gross operating
margin decreased by $21.1 million primarily due to decreased
transmission and gathering margins resulting from a decline in
throughput volumes combined with a reduction in gathering rates
under certain contracts, including a contract with a major producer
in North Texas. This decrease was partially offset by additional
margins from increased throughput in the Permian Basin system.
The Partnership’s 2013 operating expenses were $150.3 million,
an increase of $19.5 million, or 14.9%, from 2012. The increase was
primarily due to a higher employee headcount for increased activity
in the PNGL and ORV segments and increased trucking expenses in the
ORV segment. General and administrative expenses increased $6.8
million, or 11.1%, versus 2012 largely due to increased stock-based
compensation. Depreciation and amortization expense for 2013
decreased $22.2 million, or 13.7%, compared with 2012 primarily due
to accelerated depreciation of the Sabine Pass Plant in the fourth
quarter of 2012 and decreased intangible amortization. Interest
expense for 2013 decreased by $10.3 million to $76.2 million
primarily due to greater capitalized interest in 2013.
The net loss per limited partner common unit for 2013 was $1.71
per common unit compared with a net loss of $1.01 per limited
partner common unit for 2012.
Fourth Quarter and Full Year 2013 - Crosstex
Energy, Inc. Financial Results
The Corporation reported a net loss of $10.8 million for the
fourth quarter of 2013 compared with a net loss of $5.7 million for
the fourth quarter of 2012. The net loss for 2013 was $29.6 million
compared with a net loss of $12.5 million for 2012.
Excluding cash and debt held by the Partnership and E2, the
compression and stabilization company in which the Corporation has
invested, the Corporation had cash on hand of approximately $0.6
million and $65.0 million of borrowings outstanding under the bank
credit facility of the Corporation's subsidiary as of December 31,
2013.
Crosstex to Hold Earnings Conference Call on
February 28, 2014
The Partnership and the Corporation will hold a conference call
to discuss fourth quarter and full year 2013 financial results on
Friday, February 28, 2014, at 9:00 a.m. Central time (10:00 a.m.
Eastern time). The dial-in number for the call is 1-888-713-4209.
Callers outside the United States should dial 1-617-213-4863. The
passcode is 26113812 for all callers. Investors are advised to dial
in to the call at least 10 minutes prior to the call time to
register. Participants may preregister for the call at
https://www.theconferencingservice.com/prereg/key.process?key=P48QCM3Q6.
Preregistrants will be issued a pin number to use when dialing
in to the live call, which will provide quick access to the
conference by bypassing the operator upon connection. Interested
parties also can access the live webcast of the call on the
Investors page of Crosstex’s website at www.crosstexenergy.com.
After the conference call, a replay can be accessed until May
28, 2014, by dialing 1-888-286-8010. International callers should
dial 1-617-801-6888 for a replay. The passcode for all callers
listening to the replay is 61433548. Interested parties also can
visit the Investors page of Crosstex’s website to listen to a
replay of the call.
About the Crosstex Energy Companies
Crosstex Energy, L.P. (NASDAQ: XTEX) is an integrated midstream
energy partnership headquartered in Dallas that offers diversified,
tailored customer solutions spanning the energy value chain with
services and infrastructure that link energy production with
consumption. XTEX operates approximately 3,500 miles of natural
gas, natural gas liquids and oil pipelines, nine natural gas
processing plants and four fractionators, as well as barge and rail
terminals, product storage facilities, brine disposal wells and an
extensive truck fleet. XTEX has the right platform, the right
opportunities and the right people to pursue its growth-focused
business strategy.
Crosstex Energy, Inc. (NASDAQ: XTXI) owns the general
partner interest, the incentive distribution rights and a portion
of the limited partner interests in Crosstex Energy, L.P. as well
as the majority interest in a services company focused on the Utica
Shale play in the Ohio River Valley.
Additional information about the Crosstex companies can be found
at www.crosstexenergy.com.
Additional Information and Where to Find It
This press release contains information about the proposed
merger involving a Devon Energy Corporation (“Devon”) entity and a
Crosstex Energy entity. In connection with the proposed merger,
EnLink Midstream, LLC (formerly known as New Public Rangers,
L.L.C.) filed with the United States Securities Exchange Commission
(“SEC”) a registration statement on Form S-4 that includes a
proxy statement/prospectus for the Corporation’s stockholders. The
Corporation commenced the mailing of the final proxy
statement/prospectus to its stockholders on February 6, 2014.
Investors and stockholders are urged to read the proxy
statement/prospectus and other relevant documents filed or to be
filed with the SEC. These documents and any other documents filed
by Crosstex Energy or Devon with the SEC may be obtained free of
charge at the SEC’s website, at www.sec.gov. In addition,
stockholders will be able to obtain free copies of the proxy
statement/prospectus from the Corporation by contacting Investor
Relations by mail at Attention: Investor Relations, 2501 Cedar
Springs, Dallas, Texas 75201.
Participants in the Solicitation
Devon, Crosstex Energy and their respective directors and
officers may be deemed to be participants in the solicitation of
proxies from the stockholders of the Corporation in respect of the
proposed transaction.
Information regarding the persons who may, under the
rules of the SEC, be deemed participants in the solicitation
of the stockholders of the Corporation in connection with the
proposed transaction, including a description of their direct or
indirect interests, by security holdings or otherwise, is set forth
in the preliminary proxy statement/prospectus filed with the SEC.
Information regarding the Corporation’s directors and executive
officers is contained in its Annual Report on Form 10-K for
the year ended December 31, 2012, which is filed with the SEC,
and in its Annual Report on Form 10-K for the year ended December
31, 2013, which is to be filed with the SEC. Information regarding
Devon’s directors and executive officers is contained in its Annual
Report on Form 10-K for the year ended December 31, 2013,
which is filed with the SEC.
Non-GAAP Financial Information
This press release contains non-generally accepted accounting
principle financial measures that the Partnership refers to as
gross operating margin, adjusted EBITDA and distributable cash
flow. Gross operating margin is defined as revenue less the cost of
purchased gas, NGL and crude oil. Adjusted EBITDA is defined as net
income plus interest expense, provision for income taxes,
depreciation and amortization expense, impairments, stock-based
compensation, (gain) loss on non-cash derivatives, distribution
from a limited liability company and non-controlling interest; less
gain on sale of property and equity in income (loss) of a limited
liability company. Distributable cash flow is defined as earnings
before certain noncash charges and the gain on the sale of assets
less maintenance capital expenditures.
The amounts included in the calculation of these measures are
computed in accordance with generally accepted accounting
principles (GAAP) with the exception of maintenance capital
expenditures. Maintenance capital expenditures are capital
expenditures made to replace partially or fully depreciated assets
in order to maintain the existing operating capacity of the assets
and to extend their useful lives.
The Partnership believes these measures are useful to investors
because they may provide users of this financial information with
meaningful comparisons between current results and prior-reported
results and a meaningful measure of the Partnership’s cash flow
after it has satisfied the capital and related requirements of its
operations.
Gross operating margin, adjusted EBITDA and distributable cash
flow, as defined above, are not measures of financial performance
or liquidity under GAAP. They should not be considered in isolation
or as an indicator of the Partnership’s performance. Furthermore,
they should not be seen as measures of liquidity or a substitute
for metrics prepared in accordance with GAAP. Reconciliations of
these measures to their most directly comparable GAAP measures are
included in the following tables.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws. These statements are
based on certain assumptions made by the Partnership and the
Corporation based upon management’s experience and perception of
historical trends, current conditions, expected future developments
and other factors the Partnership and the Corporation believe are
appropriate in the circumstances. These statements include, but are
not limited to, statements with respect to the Partnership’s and
the Corporation’s guidance and future outlook, distribution and
dividend guidelines and future estimates and results of operations.
Such statements are subject to a number of assumptions, risk and
uncertainties, many of which are beyond the control of the
Partnership and the Corporation, which may cause the Partnership’s
and the Corporation’s actual results to differ materially from
those implied or expressed by the forward-looking statements. These
risks include the following: (1) the Partnership’s
profitability is dependent upon prices and market demand for
natural gas, NGL, condensate and crude oil; (2) the
Partnership’s substantial indebtedness could limit its flexibility
and adversely affect its financial health; (3) the Partnership
may not be able to obtain funding, which would impair its ability
to grow; (4) the Partnership and the Corporation do not have
diversified assets; (5) the Partnership may not be successful
in balancing its purchases and sales; (6) drilling levels may
decrease due to deterioration in the credit and commodity markets;
(7) the Partnership’s credit risk management efforts may fail
to adequately protect against customer non-payment; (8) the
amount of natural gas, NGL, condensate and crude oil transported
may decline as a result of reduced drilling by producers,
competition for supplies, reserve declines and reduction in demand
from key customers and markets; (9) the level of the
Partnership’s processing, fractionation, crude oil handling and
brine disposal operations may decline for similar reasons;
(10) the successful execution of major projects is subject to
factors beyond the control of the Partnership; (11) operational,
regulatory and other asset-related risks, including weather
conditions, exist because a significant portion of the
Partnership’s assets are located in southern Louisiana and the Ohio
River Valley; (12) the Partnership’s use of derivative financial
instruments does not eliminate its exposure to fluctuations in
commodity prices and interest rates; (13) failure to satisfy
closing conditions with respect to the combination with Devon; (14)
the risks that the Partnership’s, the Corporation’s and Devon’s
businesses will not be integrated successfully or that such
integration may take longer than anticipated; (15) the possibility
that expected synergies of the combination with Devon will not be
realized or will not be realized within the expected time frame;
and (16) other factors discussed in the Partnership’s and the
Corporation’s Annual Reports on Form 10-K for the years ended
December 31, 2012 and December 31, 2013 (when they are available),
the Quarterly Reports on Form 10-Q for the quarters ended
March 31, 2013, June 30, 2013 and September 30, 2013 and
other filings with the Securities and Exchange Commission. The
Partnership and the Corporation have no obligation to publicly
update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.
CROSSTEX ENERGY, L.P.
Selected Financial Data
(All amounts in thousands except per unit
amounts)
Three Months EndedDecember
31,
Years EndedDecember 31,
2013 2012 2013 2012
(Unaudited) Revenues $ 574,599 $ 525,980 $ 1,943,239 $
1,791,288 Purchased gas, NGLs and crude oil 478,523
422,023 1,546,987 1,397,530
Gross operating margin 96,076 103,957 396,252 393,758
Operating costs and expenses:
Operating expenses 37,142 36,954 150,346 130,882 General and
administrative 18,008 16,910 68,061 61,308 (Gain) loss on sale of
property (880 ) 53 (1,055 ) (342 ) Loss on derivatives 642 2,983
2,304 1,006 Depreciation and amortization 38,460 52,120 140,026
162,226 Impairment — — 72,576
— Total operating costs and expenses 93,372
109,020 432,258 355,080 Operating income (loss) 2,704 (5,063 )
(36,006 ) 38,678 Interest expense, net of interest income (21,345 )
(22,589 ) (76,219 ) (86,521 ) Equity in income of limited liability
company 152 1,740 46 3,250 Other income 999
589 1,367 5,053 Total other
expense (20,194 ) (20,260 ) (74,806 ) (78,218 ) Loss before
non-controlling interest and income taxes (17,490 ) (25,323 )
(110,812 ) (39,540 ) Income tax provision (240 ) 782
(2,337 ) (725 ) Net Loss (17,730 ) (24,541 )
(113,149 ) (40,265 ) Less: Net loss attributable to the
non-controlling interest — —
— (163 ) Net Loss attributable to
Crosstex Energy, L.P. $ (17,730 ) $ (24,541 ) $ (113,149 )
$ (40,102 ) Preferred interest in net loss attributable to
Crosstex Energy, L.P. $ 12,481 $ 5,433 $ 35,977
$ 20,779 General partner interest in net income
(loss) $ 286 $ (114 ) $ (2,721 ) $ (534 ) Limited partners’
interest in net loss attributable to Crosstex Energy, L.P. $
(30,497 ) $ (29,860 ) $ (146,405 ) $ (60,347 ) Net loss
attributable to Crosstex Energy, L.P. per limited partner unit:
Basic and diluted common units $ (0.38 ) $ (0.51 ) $ (1.71 ) $
(1.01 ) Weighted average limited partners’ units outstanding: Basic
and diluted common units 90,425 65,300
84,589 58,935
CROSSTEX ENERGY, L.P.
Reconciliation of Net Loss to Adjusted
EBITDA and Distributable Cash Flow
(All amounts in thousands except ratios
and per unit amounts)
Three Months EndedDecember
31,
Years EndedDecember 31,
2013 2012 2013 2012
Net loss attributable to Crosstex Energy, L.P. $ (17,730 ) $
(24,541 ) $ (113,149 ) $ (40,102 ) Interest expense, net 21,345
22,589 76,219 86,521 Depreciation and amortization 38,460 52,120
140,026 162,226 Impairment — — 72,576 — Equity in income of limited
liability company (152 ) (1,739 ) (46 ) (3,250 ) (Gain) loss on
sale of property (880 ) 53 (1,055 ) (342 ) Stock-based compensation
3,092 1,710 14,170 9,207 Distribution received from Howard Energy
Partners 4,373 — 17,468 — Other (1) 5,433
1,496 8,667 (171 )
Adjusted EBITDA 53,941 51,688 214,876 214,089 Interest expense
(21,183 ) (22,267 ) (75,499 ) (86,244 ) Cash taxes and other 338
141 (1,581 ) (1,373 ) Maintenance capital expenditures
(1,329 ) (2,845 ) (11,479 )
(13,645 ) Distributable cash flow $ 31,767 $
26,717 $ 126,317 $ 112,827
Actual declared distribution (common units and preferred units) $
35,867 $ 27,805 $ 127,929 $ 102,036 Distribution coverage 0.89x
0.96x 0.99x 1.11x Distributions declared per limited partner unit $
0.36 $ 0.33 $ 1.36 $ 1.32 (1)
Includes financial derivatives marked-to-market; income
taxes; transaction costs associated with successful transactions;
and non-controlling interest (as allowed for adjustment under our
credit facility).
CROSSTEX ENERGY, L.P.
Operating Data
Three Months EndedDecember
31,
Years EndedDecember 31,
2013 2012 2013 2012
Pipeline Throughput (MMBtu/d) LIG 412,000 690,000 473,000
783,000 NTX – Gathering 635,000 773,000 700,000 810,000 NTX –
Transmission 355,000 342,000 342,000 350,000
Total Gathering and Transmission Volume 1,402,000
1,805,000 1,515,000 1,943,000
Natural Gas Processed
(MMBtu/d) PNGL 354,000 659,000 399,000 738,000 LIG 256,000
269,000 255,000 248,000 NTX 360,000 398,000 382,000
364,000
Total Gas Volumes Processed 970,000
1,326,000 1,036,000 1,350,000
Crude Oil Handling (Bbls/d)
(1) 11,200 11,500 12,000 11,800
Brine Disposal (Bbls/d)
(2) 5,100 8,000 7,000 7,800
NGLs Fractionated
(Gal/d) 2,280,000 1,584,000 1,473,000 1,359,000 Realized
weighted average Natural Gas Liquids price ($/gallon) (3) 0.99 1.02
0.99 1.07 Actual weighted average Natural Gas Liquids-to-Gas price
ratio 291 % 309 % 280 % 383 %
North Texas Gathering
(4) Wells connected 11 17 62 118 (1) Crude oil
handling includes barrels handled by both the ORV and PNGL
segments. (2) Crude oil handling and brine disposal volumes for ORV
for the year ended December 31, 2012 include a daily average for
July 2012 through December 31, 2012, which was the six month period
these assets were operated by the Partnership. (3) Ethane
represents 41 percent and 37 percent of NGL gallons sold at
realized prices of $0.27/gal for both the three and twelve months
ended December 31, 2013, and 34 percent and 38 percent of NGL
gallons sold at realized prices of $0.29/gal and $0.40/gal for the
three and twelve months ended December 31, 2012. (4) North Texas
Gathering wells connected are as of the last day of the period and
include centralized delivery point connections where the
Partnership connects multiple wells at a single meter station.
CROSSTEX ENERGY, INC.
Selected Financial Data
(All amounts in thousands except per share
amounts)
Three Months EndedDecember
31,
Years EndedDecember 31,
2013 2012 2013 2012
(Unaudited) Revenues $ 575,243 $ 525,980 $ 1,944,312 $
1,791,288 Purchased gas, NGLs and crude oil 478,522
422,023 1,546,987 1,397,530
Gross operating margin 96,721 103,957 397,325 393,758
Operating costs and expenses: Operating expenses 37,250 36,954
150,858 130,882 General and administrative 26,063 18,354 79,993
65,083 (Gain) loss on sale of property (880 ) 53 (1,055 ) (342 )
Loss on derivatives 642 2,983 2,304 1,006 Impairments — — 72,576 —
Depreciation and amortization 38,457 52,138
140,285 162,300 Total operating
costs and expenses 101,532 110,482 444,961 358,929 Operating income
(loss) (4,811 ) (6,525 ) (47,636 ) 34,829 Interest expense, net of
interest income (21,710 ) (22,588 ) (76,859 ) (86,515 ) Equity in
income of limited liability company 152 1,740 46 3,250 Other income
1,233 590 1,600
5,054 Total other expense (20,325 ) (20,258 ) (75,213 )
(78,211 ) Loss before non-controlling interest and income taxes
(25,136 ) (26,783 ) (122,849 ) (43,382 ) Income tax benefit
1,882 4,030 10,214 6,642
Net loss (23,254 ) (22,753 ) (112,635 ) (36,740 ) Less: Net
loss attributable to the non-controlling Interest (12,470 )
(17,083 ) (82,999 )
(24,259 ) Net loss attributable to Crosstex Energy, Inc. $ (10,784
) $ (5,670 ) $ (29,636 ) $ (12,481 ) Net loss
per common share: Basic and diluted $ (0.22 ) $ (0.12 ) $ (0.60 ) $
(0.26 ) Weighted average shares outstanding: Basic and diluted
47,752 47,414 47,664
47,384
CROSSTEX ENERGY, INC.
Calculation of Cash Available for
Dividends
(All amounts in thousands except per share
amounts)
Three Months EndedDecember
31,
Years EndedDecember 31,
2013 2012 2013 2012
Distributions declared by Crosstex Energy, L.P. associated
with: General Partner Interest $ 483 $ 427 $ 1,838 $ 1,796
Incentive Distribution Rights 2,214 1,215 6,356 4,391 L.P. Units
Owned 5,909 5,417
22,324 21,668 Total share of
distributions declared $ 8,606 $ 7,059 $ 30,518 $ 27,855
Other
non-partnership uses: General and administrative expenses (652
) (1,938 ) (1,928 ) (3,732 ) Cash reserved * (795 )
(512 ) (2,859 ) (2,412 ) Cash
available for dividends $ 7,159 $ 4,609
$ 25,731 $ 21,711 Dividend declared per share
$ 0.15 $ 0.12 $ 0.52 $ 0.48
* Cash reserved represents a cash holdback by the Corporation to
cover tax payments, equity-matching investments in the Partnership
and other miscellaneous cash expenditures. The amount is currently
estimated at 10 percent of the Corporation’s share of Partnership
distributions declared, net of non-partnership general and
administrative expenses.
Crosstex EnergyJill McMillan,
214-721-9271Director, Public & Industry
AffairsJill.McMillan@CrosstexEnergy.com
Crosstex Energy, Inc. (MM) (NASDAQ:XTXI)
過去 株価チャート
から 5 2024 まで 6 2024
Crosstex Energy, Inc. (MM) (NASDAQ:XTXI)
過去 株価チャート
から 6 2023 まで 6 2024