December 23, 2009 (FinancialWire) — Martin Midstream Partners L.P. (NASDAQ: MMLP) (MMLP) has amended and extended its senior secured credit facility that was originally scheduled to mature on November 10, 2010.

Under the terms, the Partnership upsized its borrowing capacity to $335.67 million and extended the maturity date to November 9, 2012. The amendment and extension was arranged by Wells Fargo Securities, LLC and RBC Capital Markets.

Also, the Partnership said that its Waskom Gas Processing Company (WGPC) joint venture has entered into an agreement to purchase the East Texas natural gas gathering and processing assets of the Crosstex Energy companies, Crosstex Energy, L.P. (NASDAQ: XTEX) and Crosstex Energy, Inc. (NASDAQ: XTXI) for $40 million. The transaction is subject to normal closing conditions and is expected to close in January 2010. WGPC’s general partners are CenterPoint Energy Gas Processing Company (CenterPoint), an indirect, wholly-owned subsidiary of CenterPoint Energy, Inc. (NYSE: CNP), and Prism Gas Systems I, L.P., the operator of WGPC, and an indirect, wholly-owned subsidiary of MMLP.

The East Texas natural gas gathering and processing assets to be purchased by WGPC from Crosstex consist of approximately 60 miles of natural gas gathering pipelines, two compressor stations, and three natural gas processing refrigeration plants. The system’s current throughput capacity is approximately 75 million cubic feet per day which can be expanded with additional compression.

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