Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Crosstex Energy (NAS: XTXI) surged 10% today after the company opened season on commitments for a new pipeline.
So what: Crosstex NGL Pipeline announced the opening of binding volume commitments for interstate common carrier transportation services from Barnett Shale, Eagle Ford Shale, and other areas. The new natural gas liquids pipeline system will transport unfractionated natural gas liquids.
Now what: Crosstex Energy and Crosstex Energy GP (NAS: XTEX) plan to build the pipeline and it is planned to be completed in the first quarter of 2013. The design is for a capacity of 70,000 barrels per day to Eunice, and a smaller amount to Riverside. Open season began yesterday and will close on October 14.
Interested in more info on Crosstex Energy? Add it to your watchlist byclicking here.
At the time thisarticle was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2011 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.