Exhibit 99.1

            Crosstex to Acquire Certain Transco Assets from Williams

     DALLAS--(BUSINESS WIRE)--July 7, 2004--Crosstex Energy, L.P.
(NasdaqNM:XTEX), a Texas-based midstream natural gas company, today announced
that it has executed a definitive agreement to acquire from Williams (NYSE:WMB)
certain onshore pipeline assets south of its Transco Compressor Station 30 in
Wharton County, Texas, for $27.4 million. These assets are part of a federally
regulated interstate pipeline system. Closing is subject to receipt of
abandonment authorization from interstate service, which would result in the
pipeline being integrated into Crosstex's existing intrastate pipelines and no
longer subject to Federal Energy Regulatory Commission ("FERC") jurisdiction.
The filing is expected to be made with the FERC by Williams and Crosstex within
the next three weeks. Proceedings are expected to take three to nine months to
complete. Crosstex is also currently finalizing agreements with Williams to
acquire two unregulated pipeline assets that are interconnected with the Transco
assets for approximately $2.6 million.
     "These assets will provide access to significant additional supplies of
rich and lean gas, opportunities to further optimize and integrate operations on
our intrastate Gulf Coast and CCNG systems, and access to new markets in Texas,"
said Barry E. Davis, president and chief executive officer of Crosstex. "In the
future, these assets will provide Crosstex additional opportunities to serve gas
producers and markets in deep south Texas, not currently accessed by our
existing pipeline systems, as well as enhance our overall position in this key
gas supply and market region."
     The Transco assets, located in 15 counties in gas-rich South Texas, are
comprised of approximately 500 miles of 24 and 26-inch pipeline. The lines
extend from Hidalgo County in the south across the company's CCNG and Gulf Coast
systems to Wharton County in the north and west to McMullen County. Current
throughput is about 200,000 MMBTU/day, with a capacity of approximately 600,000
MMBTU/day.

     About Crosstex

     Crosstex Energy, L.P., a midstream natural gas company headquartered in
Dallas, operates over 4,500 miles of pipeline, five processing plants, and over
60 natural gas amine treating plants. Crosstex currently provides services for
over 1.5 BCF/day of natural gas.
     Crosstex Energy, Inc. (NasdaqNM:XTXI) owns the general partner, a 54.3%
limited partner interest and the incentive distribution rights of Crosstex
Energy, L.P.
     Additional information about the companies can be found at
www.crosstexenergy.com.

     This press release contains "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements other than
statements of historical facts included herein, including statements regarding
the possible benefits and opportunities to be provided by the Transco assets,
constitute forward-looking statements. Although the company believes that the
expectations reflected in the forward-looking statements are reasonable, it can
give no assurance that such expectations will prove to be correct.

     CONTACT: Crosstex Energy, L.P., Dallas
              Barry E. Davis, 214-953-9500
              or
              William W. Davis, 214-953-9500