Crosstex Energy, L.P. and Crosstex Energy Inc. announced today that Leldon (Lel) E. Echols will join the Board of Directors of Crosstex Energy GP, LLC and the Board of Directors of the Corporation to fill the vacancies created by Frank M. Burke Jr., who announced his retirement in 2007.
Burke began his board service with the Crosstex companies in 2003 and has served as chairman of the Audit Committees of both companies. A noted author on energy taxation and financial reporting for energy companies, he led the companies' development of financial reporting and audit practices during times of significant growth and change.
Echols brings 30 years of financial and business experience to Crosstex. After 20 years with accounting and consulting firm Arthur Andersen LLP, which included serving as managing partner of the firm’s audit and business advisory practice in North Texas, Colorado and Oklahoma, Echols spent six years with Centex Corporation as executive vice president and chief financial officer. He retired from Centex Corporation in June 2006. Since then, he has continued to serve on company boards, managed private investments, and pursued public service and charitable endeavors. Echols is a member of the boards of directors of another publicly traded company, Trinity Industries, Inc., and two private companies, Roofing Supply Group Holdings, Inc. and Colemont Corporation. He also served on the board of TXU Corp. where he chaired the Audit Committee and was a member of the Strategic Transactions Committee until the closing of the recently completed private equity buyout of TXU.
Crosstex Energy, L.P., a midstream natural gas company headquartered in Dallas, operates over 5,000 miles of pipeline, 13 processing plants, four fractionators, and approximately 200 natural gas amine-treating plants and dew point control plants. Crosstex currently provides services for over 3.5 Bcf/day of natural gas, or approximately 7.0 percent of marketed U.S. daily production.
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