A press release from crosstex Energy companies:
CROSSTEX ENERGY RE-ACTIVATES BLACK RUN RAIL TERMINAL
FACILITIES FOR EXPORT OF UTICA SHALE PRODUCTION
Rail Facility Is First in Region to Move Light Oil Condensate to Premium-Priced Markets
DALLAS, June 25, 2013 --The Crosstex Energy companies, Crosstex Energy, L.P. (NASDAQ:XTEX) (the Partnership) and Crosstex Energy, Inc. (NASDAQ:XTXI) (the Corporation), today announced that the Partnership has re-activated its Black Run rail loading terminal located in Frazeysburg, Ohio, on the Ohio Central Railroad (OHCR) allowing the export of Utica Shale light oil condensate production. The Black Run facility is a state-of-the-art 20-car rail rack with tracking gangways designed to top load multiple products, including light oil condensate and various grades of crude oil, at a rate of 24,000 barrels per day. The Black Run rail terminal is the first facility to move light oil condensate out of the region to premium-priced refinery and petrochemical markets.
“The re-activation of our Black Run rail facility enables us to offer producer customers in the Utica Shale an immediate midstream solution to export their products to out-of-region markets to maximize value for our customers. We are pleased to be at the forefront of moving product by rail in an area where there is a lack of transloading capabilities,” said Barry E. Davis, Crosstex President and Chief Executive Officer. “Our Ohio River Valley assets continue to provide Crosstex with an exceptional growth opportunity as more wells come on line in the Utica Shale.”
The OHCR is a 70-mile short line freight railroad that interchanges with the Columbus and Ohio River Railroad, CSX Transportation, Norfolk Southern, Ohio Southern Railroad and Wheeling and Lake Erie Railway. The Black Run terminal, which is adjacent to the Partnership’s oil gathering pipeline, will leverage the Partnership’s existing tankage and piping, as well as the capabilities of its extensive truck fleet in the Ohio River Valley.
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