While XTEX is in the business of gas gathering, it is not a producer and therefore has much less exposure than you would think. They do have a variety of contracts that are percentage of proceeds and some commodity exposure that they have hedged, so I think what you will end up seeing is a greatly dampened hit.
The other thing to keep in mind is XTXI and XTEX are right at the beginning of the next huge growth phase. With the acquisition of the Chief assets, and the continued roll out of other projects, they remain on track to grow the dividend to $3.60 by the 3Q of 2007 and $5.60 by 2009 (second dividend growth phase starts in 2008 as per the conference call).
XTXI has had a tremendous run up, and with the lack of coverage, potential Yorktown distributions, rtc, I expect to see some volatility in XTXI. Until this company is larger (regular volume and higher dividend leading to more exposure and more institutional owners adnd less Yorktown ownership) it will remain volatile. What is important is the long term fundamentals and balance sheet, both of which are pristine at XTXI.