Crosstex Energy Inc. and Devon Energy Corp. plan to merge their midstream assets

Crosstex Energy Inc. of Dallas and Devon Energy Corp. of Oklahoma City want to "combine their natural gas pipelines, processing plants and other midstream assets" in a transaction expected to close in the first quarter of 2014, Columbus Business First reports. Headquartered in Dallas, the new entity will maintain a presence in Oklahoma City. The merged assets include "midstream facilities in many of the nation's most active shale plays, including the Utica and Marcellus." They are going to be traded publicly with expected interest earnings before interest, taxes, depreciation and amortization of approximately $700 million, the article said. For more, read the full story.

National, Ohio