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Devon Energy completes midstream merger with Dallas-based company

Devon Energy Corp. on Friday completed the merger of its midstream assets with Dallas-based Crosstex Energy Inc.
by Adam Wilmoth Published: March 8, 2014
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Devon Energy Corp. on Friday completed the merger of its midstream assets with Dallas-based Crosstex Energy Inc. to create EnLink Midstream.

The transaction closed after Crosstex shareholders approved the plan.

“We are excited to announce the completion of the transaction and the new beginning for us as EnLink Midstream,” EnLink CEO Barry E. Davis said. “Our vision is to not only be one of the largest, but one of the best midstream providers in the industry. EnLink Midstream’s geographically diverse asset base, strong financial foundation, and strategic upstream sponsorship from Devon Energy position us for growth over the near- and long-term.”

As part of the deal, Crosstex and its master limited partnership Crosstex Energy LP changed their names to EnLink Midstream LLC and EnLink Midstream Partners LP.

The companies on Monday will begin trading on the New York Stock Exchange under the ticker symbols ENLC for the general partner and ENLK for the master limited partner.

The new companies will be based in Dallas where Crosstex was founded in 1996.

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by Adam Wilmoth
Energy Editor
Adam Wilmoth returned to The Oklahoman as energy editor in 2012 after working for four years in public relations. He previously spent seven years as a business reporter at The Oklahoman, including five years covering the state's energy sector....
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