Much debate about the price of NG going forward. But as I think about all the various outcomes of NG's role in our domestic energy future , one constant is the role of NG pipelines. With no E&P exposure , pure NG pipelines win , regardless of the eventual price of NG. Fee based pricing is the future , and NGL will correlate to the global price of oil. I think XTEX will do fine after the BS is right-sized.
You have a good idea, but XTEX doesn't really fill the bill. It is a gatherer and processor and it does have a chunk of commodity risk. If you want a pure toll-booth operation, look at the big MLPs like BWP, KMP, maybe EPD.