Crosstex Energy has announced plans to invest approximately $140m to construct a new natural gas processing complex and a gas gathering pipeline system in the Permian basin in Texas, US.
The investment includes treating, processing and gas takeaway solutions for regional producers. The project is expected to be completed and operational in the summer of 2014.
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Known as Bearkat, the new-build processing complex will be located near the company’s existing Deadwood joint venture assets in Glasscock County, Texas.
With an initial capacity of 60 million cubic feet per day (MMcf/d), the plant is expected to increase the company’s total operated processing capacity in the Permian to around 115MMcf/d.
In order to provide an additional gathering capacity for producers in Glasscock and Reagan counties, Crosstex Energy will also construct a 30-mile high-pressure gathering system upstream of the Bearkat complex.
Crosstex president and chief executive officer Barry Davis said: "When completed, this project will position Crosstex as an even stronger, full-service midstream provider and create additional value for our shareholders and unitholders."
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By GlobalDataThe integrated midstream energy company operates around 3,500 miles of natural gas, natural gas liquids and oil pipelines, ten natural gas processing plants and four fractionators.
