Question-and-Answer Session
Operator
Thank you, ladies and gentlemen. (Operator Instructions) And our first question comes from Jay Murray [ph] with Bank of America.
Jay Murray – Bank of America
Good morning, everyone.
Martin Salinas
Good morning, Jay.
Jay Murray – Bank of America
Martin, do you mind just running through the Bammel and Canyon charges one more time? How much was that Bammel off the market?
Martin Salinas
The Bammel was $47 million.
Jay Murray – Bank of America
Okay. And in terms of delivering that gas, will that primarily take place in the first quarter this year?
Martin Salinas
That’s right, Jay. As we looked, we saw gas at Bammel, as it stands today, that is our intention.
Jay Murray – Bank of America
Okay. Both of those were in the exchange segment, right?
Martin Salinas
Yes.
Jay Murray – Bank of America
Okay. Great. In terms of just larger (inaudible) questions, the decision to raise the distribution at ETE in keep it at the level of ETP, particularly considering, I think you talked about ETE’s liquidity to support ETP in the future. I wonder if you could just speak to that a little bit?
Martin Salinas
Sure. They are really just like the shareholders to buy both the limited partnership, maintain a distribution, ETE benefits from growth and cash flow as ETP. So as we looked to our distribution to ETE from ETP, it makes sense to demonstrate ETE’s ability to grow with ETP’s position. Does that make sense?
Jay Murray – Bank of America
Yes, that makes sense. And switching gears to the Tiger pipe (inaudible), the timing around that open season, I know you got the base load or baseline commitment from Chesapeake [ph] but just the timing on the open season to potentially get some more commitments.
Mackie McCrea
Well, this is Mackie. We intend to start double season either Thursday or Friday of this week.
Jay Murray – Bank of America
Okay. Mackie, how long do you think that might run for?
Mackie McCrea
Will run for 30 days.
Jay Murray – Bank of America
Thirty days, okay. And then just ’09 guidance, I think it was $0.16, $0.17 to $0.17 EBITDA. Do you still feel comfortable with that level?
Martin Salinas
Yes, we do.
Jay Murray – Bank of America
Okay. Thanks.
Operator
Thank you. And our next question comes from Derrick Lahey with RBC Capital Markets.
- To read the full transcript on Seeking Alpha, click here »
