Ut oh! Do they mismanage all their assets this way? If you’re near a pipeline or compressor facility, duck and cover!
Crosstex to Sell Mississippi, Alabama and South Texas Assets for $220 Million
Proceeds from the sale will be used to pay down more than $200 million of the Partnership’s outstanding debt
To jog your memory:
Natural gas pipeline explodes near Lake Weatherford
Flames remain into Tuesday morning after an excavation equipment operator laying pipeline for Crosstex Energy Services out of Dallas, accidentally struck an existing propane pipeline owned by ConocoPhillips at approximately 2 p.m. Monday near FM 730 in central Parker County.
By Matt Smith/msmith@trcle.com
A natural gas compressor station exploded near Godley about midnight Saturday resulting in a fire that could be seen from Cleburne, Cleburne Assistant Fire Chief Keith Scarbrough said. People also reported hearing the explosion from miles away, Scarbrough said.
The facility is owned by Crosstex Pipeline and serves as an entry point for an EOG Resources site. The incident occurred near Farm-to-Market Road 4 and County Road 1228. The cause of the explosion remains under investigation, Scarbrough said.
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Sharon Wilson is considered a leading citizen expert on the impacts of shale oil and gas extraction. She is the go-to person whether it’s top EPA officials from D.C., national and international news networks, or residents facing the shock of eminent domain and the devastating environmental effects of natural gas development in their backyards.
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Crosstex–what a bunch of loosers. Glad to see 'em go. Selling to Southcross?? Crosstex to Southcross–sounds funny.
What does an asset sale have to do with safety, which is what I can only guess you are alluding to.
Mismanaged assets in which the company is $200 million in debt indicates a lack of judgment and mismanaged assets. Besides, let's not pretend Crosstex has a perfect safety record.
Misguided Anonymous (8:47) above, with a warped mind like yours, you should go through the revolving door to one of the state agencies! You would fit right in.