New combined midstream business to be called EnLink Midstream

Devon Energy Corp., Crosstex Energy LP, and Crosstex Energy Inc.

Devon Energy Corp. (NYSE: DVN) and Crosstex Energy LP (the “Partnership”) (NASDAQ: XTEX) and Crosstex Energy Inc. (the “Corporation”) (NASDAQ: XTXI) (collectively “Crosstex”) have selected EnLink Midstream Partners LP and EnLink Midstream LLC as the names of their new combined midstream business following the completion of the transaction. 

On October 21, 2013, Devon and Crosstex announced the signing of definitive agreements to combine substantially all of Devon’s US midstream assets with Crosstex’s assets to form a new midstream business. The new business will consist of two publicly traded entities: the master limited partnership, whose name will change upon closing from Crosstex Energy LP to EnLink Midstream Partners LP, and a publicly traded general partner entity, which will be called EnLink Midstream LLC. 

Applications will be filed to list the common units of both EnLink Midstream Partners LP and EnLink Midstream LLC on the New York Stock Exchange upon the closing under the symbols “ENLK” and “ENLC,” respectively.

The transaction is expected to close in the first quarter of 2014.

 

 

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