Shoring

In a move aimed at shoring up its balance sheet and increasing the company’s liquidity, Dallas-based Crosstex Energy LP has agreed to sell its natural gas gathering assets in Mississippi, Alabama and South Texas for $220 million to Southcross Energy LLC, a Dallas-based portfolio company of Charlesbank Capital Partners focused on gas transportation and processing.

In a move aimed at shoring up its balance sheet and increasing the company’s liquidity, Dallas-based Crosstex Energy LP on Wednesday agreed to sell its natural gas gathering assets in Mississippi, Alabama and South Texas for $220 million to Southcross Energy LLC, a Dallas-based portfolio company of Charlesbank Capital Partners focused on gas transportation and processing.

While stressing it is on target in shoring up its liquidity and balance sheet, San Jose, CA-based Calpine Corp. Tuesday reported third quarter earnings that were less than half of what they were for the same quarter last year — 36 cents/diluted share, or $161.3 million in net income, compared to 88 cents/diluted share, or $320.8 million, for the same quarter in 2001.

Houston-based Enron Corp., which may be shoring up a long-range plan to sell some of its assets not related to its massive trading arm, may consider selling off its growing wind power subsidiary as soon as this year, according to Enron Wind’s managing director, Andreas Reuter.