Crosstex will use the net proceeds from the transaction to repay approximately $212 million of the partnership's outstanding debt, which will satisfy the targets for debt reductions in September 2009 and December 2009 established in the partnership's amendments to its debt facilities.

Barry Davis, president and CEO of Crosstex Energy, said: "Completion of this sale is a significant step in the execution of our plan, and it will allow us to reduce debt.

"As we have previously stated, asset sales are an important part of our deleveraging initiatives, and we will continue to explore other transactions that we believe are in the best interests of the company and our stakeholders."

A service of YellowBrix, Inc.