Crosstex Energy companies, Crosstex Energy, L.P. (XTEX) or the Partnership and Crosstex Energy, Inc. (XTXI), announced that the Partnership has acquired the Eunice natural gas liquids or NGLs processing plant and fractionation facility from Phillip Morris for approximately $42 million, which includes $18 million of assumed debt. Previously, Crosstex managed the plant and facility, which are located in south central Louisiana, under an operating lease with Phillip Morris.
It is estimated the acquisition will improve the Partnership's adjusted cash flow by approximately $12 million per year through the elimination of lease operating expense.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.