crosstex engery lp (XTEX)

[Timothy Smith]

Full-Year 2012 – Crosstex Energy, L.P. Financial Results

The Partnership realized adjusted EBITDA of $214.1 million and distributable cash flow of $112.8 million for 2012 compared with adjusted EBITDA of $214.0 million and distributable cash flow of $121.3 million for 2011. The Partnership reported a net loss of $40.1 million for 2012, compared with a net loss of $2.3 million for 2011. The increase in net loss was primarily the result of increased depreciation and amortization expenses in 2012.

The Partnership’s 2012 gross operating margin increased to $393.8 million from $375.2 million for 2011. The improvement was primarily due to the acquisition of the ORV assets in July 2012, the contribution of the Partnership’s Permian Basin assets that became operational during the first quarter of 2012, increased NGL fractionation and marketing activity and growth in south Louisiana crude oil terminal activity.