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Crosstex Energy, Inc. Message Board

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  • fergadan fergadan Oct 21, 2009 8:38 PM Flag

    Sold off treating assets to pay debt, then...


    Take the semantics and blow it out your ass. I know the fregin difference and don't give a sh$t. The operator is changing the natural gas from what it is, to what they want to to be.... Asshole
    Always has to be some smart ass jerk that thinks he knows more than eveyone else....

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    • It's not just "semantics". Saying they are the same thing just shows your ignorance. Or to use your words, you DON'T "know the fregin difference". IMO, you should "give a sh$t" as they have completely different economics.

      Perhaps you should do a bit more research. Even though you're an obvious asshole, I'll help you out...

      From XTEX's 10-k:

      "Our processing plants remove NGLs from a natural gas stream and our fractionators separate the NGLs into separate NGL products, including ethane, propane, iso- and
      normal butanes and natural gasoline."

      "Our natural gas treating plants remove carbon dioxide and hydrogen sulfide from natural gas prior to delivering the gas into pipelines to ensure that it meets pipeline quality specifications."

      If you keep reading the 10-k, you come across this...

      "A significant percentage of inlet gas at our processing plants is settled under percent of liquids (“POL”) agreements or fractionation margin (margin) contracts. Over the past two years the inlet processing volumes associated with POL and margin contracts were approximately 70%, on a combined basis, of the total volume of gas processed....fee revenue under a POL agreement is directly impacted by NGL prices and the decline of these prices in 2008 contributed to a significant decline in gross margin from processing...Under margin contracts we realize a gross margin from processing based upon...“fractionation spread”. During the last half of 2008 the fractionation spread narrowed significantly...thus the gross margin realized under these margin contracts was also negatively

      "The Treating division generates fees from its plants either through volume-based treating contracts or through fixed monthly payments."

    • Chill out man. This is a real business you're investing in. Semantics matter.

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