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8-K - FORM 8-K - MARTIN MIDSTREAM PARTNERS L.P. | d70679e8vk.htm |
EX-10.1 - EX-10.1 - MARTIN MIDSTREAM PARTNERS L.P. | d70679exv10w1.htm |
Exhibit 99.1
WASKOM GAS PROCESSING COMPANY
COMPLETES EAST TEXAS ACQUISITION
COMPLETES EAST TEXAS ACQUISITION
KILGORE, TX, January 19, 2010 (GlobalNewswire via COMTEX News Network) Martin Midstream Partners
L.P. (Nasdaq: MMLP) announced today that its Waskom Gas Processing Company (WGPC) joint venture
has completed the acquisition of the East Texas natural gas gathering and processing assets of the
Crosstex Energy companies, Crosstex Energy, L.P. (Nasdaq: XTEX) and Crosstex Energy, Inc. (Nasdaq:
XTXI). WGPCs general partners are CenterPoint Energy Gas Processing Company (CenterPoint
Energy), an indirect, wholly-owned subsidiary of CenterPoint Energy, Inc. (NYSE: CNP), and Prism
Gas Systems I, L.P., the operator of WGPC, and an indirect, wholly-owned subsidiary of MMLP.
We are pleased to add these gathering assets to our Waskom joint venture with CenterPoint Energy.
Additional earnings will come primarily from fee-based contracts which are not directly affected by
changes in commodity prices, said Ruben Martin, President and Chief Executive Officer of Martin
Midstream GP LLC, MMLPs general partner. In addition, the East Texas system is located near the
Waskom gas processing facility which will provide the opportunity to capture additional volumes by
integrating the gathering system with the plant.
About CenterPoint Energy, Inc. (NYSE:CNP)
CenterPoint Energy, Inc., headquartered in Houston, Texas, is a domestic energy delivery company
that includes electric transmission & distribution, natural gas distribution, competitive natural
gas sales and services, interstate pipelines, and field services operations. The company serves
more than five million metered customers primarily in Arkansas, Louisiana, Minnesota, Mississippi,
Oklahoma, and Texas. Assets total nearly $19 billion. With about 8,800 employees, CenterPoint
Energy and its predecessor companies have been in business for more than 135 years. For more
information, visit the Web site at www.CenterPointEnergy.com.
About Martin Midstream Partners L.P. (NASDAQ: MMLP)
Martin Midstream Partners is a publicly traded limited partnership with a diverse set of operations
focused primarily in the United States Gulf Coast region. The Partnerships primary business lines
include: terminalling and storage services for petroleum products and by-products; natural gas
gathering and processing and NGL distribution services; marine transportation services for
petroleum products and by-products; and sulfur and sulfur-based products processing, manufacturing,
marketing and distribution.
Forward-Looking Statements
Statements about Martin Midstream Partners outlook and all other statements in this release other
than historical facts are forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements and all references to financial
estimates rely on a number of assumptions concerning future events and are subject to a number of
uncertainties and other factors, many of which are outside of its control, which could cause actual
results to differ materially from such statements. While MMLP believes that the assumptions
concerning future events are reasonable, it cautions that there are inherent difficulties in
anticipating or predicting certain important factors. A discussion of these factors,
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including risks and uncertainties, is set forth in the Companys annual and quarterly reports filed
from time to time with the Securities and Exchange Commission. Martin Midstream Partners disclaims
any intention or obligation to revise any forward-looking statements, including financial
estimates, whether as a result of new information, future events, or otherwise.
Additional information concerning Martin Midstream is available on its website at
www.martinmidstream.com, or
Joe McCreery,
Vice President Finance & Head of Investor Relations,
Martin Midstream Partners L.P.
Phone: (903) 812-7989
joe.mccreery@martinmlp.com
Vice President Finance & Head of Investor Relations,
Martin Midstream Partners L.P.
Phone: (903) 812-7989
joe.mccreery@martinmlp.com
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