XTEX - Crosstex Energy GP, L.P.
Crosstex Energy, L.P., through its subsidiary, Crosstex Energy Services, L.P. operates as an independent midstream energy company. It engages in the gathering, transmission, processing, and marketing of natural gas and natural gas liquids in the north Texas Barnett shale area and Louisiana.
As of March 2, 2010, the company operated approximately 3,300 miles of pipeline, 9 processing plants, and 3 fractionators. Crosstex Energy GP, L.P. serves as the general partner of the Crosstex Energy, L.P. The company was founded in 1992 and is headquartered in Dallas, Texas.
The stock has been moving in a sideways consolidation for the past four weeks and is poised to break above upside resistance in the $10.80 area. The company ended the week trading on Friday July 9, 2010 at $10.48 +0.25 or 2.44% higher on the upside on volume of 427,360. The average weekly trading volume for Crosstex Energy is 1.26 million.
By: Marlin Rolle
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