Crosstex Aims to Expand Production with Clearfield
July 06, 2012
Natural gas company Crosstex Energy (NASDAQ: XTXI), which has backing from GSO Capital Partners, has completed its previously announced $210 million acquisition of Clearfield Energy, a provider of crude oil, condensate and water services. The deal allows Dallas-based Crosstex to expand operations into the Utica and Macellus shale regions, where Clearfield already maintains a strong presence. Clearfield’s assets currently handle about 300,000 barrels of crude and condensate each month.