Summarized financial information for our proportionate share of Bear Creek is presented as follows:


	Quarter Ended				Six Months Ended
	June 30,				June 30,
	2011		2010		2011		2010
	(In millions)
Operating results data:
Operating revenues	$	5	$	5	$	10	$	10
Operating expenses		2		2		3		3
Income from continuing operations and net income		3		3		7		7

Transactions with Affiliates

Cash Management Program. We participate in El Paso’s cash management program which matches short-term cash surpluses and needs of participating affiliates, thus minimizing total borrowings from outside sources. El Paso uses the cash management program to settle intercompany transactions between participating affiliates. We have historically advanced cash to El Paso in exchange for an affiliated note receivable that is due upon demand. At June 30, 2011 and December 31, 2010, we had a note receivable from El Paso of $874 million and $976 million. We classified $329 million of this receivable as current on our balance sheet at June 30, 2011, based on the net amount we anticipate using in the next twelve months considering available cash sources and needs. The interest rate on this note is variable and was 2.4% and 1.5% at June 30, 2011 and December 31, 2010.

Income Taxes. El Paso files consolidated U.S. federal and certain state tax returns which include our taxable income. In certain states, we file and pay taxes directly to the state taxing authorities. At June 30, 2011, we had federal and state income taxes payable of $17 million and a net federal and state income taxes receivable of $4 million at December 31, 2010. The majority of these balances, as well as deferred income taxes and amounts associated with the resolution of unrecognized tax benefits, will become payable to or receivable from El Paso.

Other Affiliate Balances. At June 30, 2011 and December 31, 2010, we had contractual deposits from our affiliates of $10 million.

Affiliate Revenues and Expenses. We enter into transactions with our affiliates within the ordinary course of business. For a further discussion of our affiliated transactions, see our 2010 Annual Report on Form 10-K. The following table shows revenues and charges from our affiliates:


	Quarter Ended				Six Months Ended
	June 30,				June 30,
	2011		2010		2011		2010
	(In millions)
Revenues⁽¹⁾	$	30	$	5	$	73	$	10
Operation and maintenance expenses		18		20		35		41
Reimbursement of operating expenses		17		15		34		30


⁽¹⁾		During the quarter and six months ended June 30, 2011, we sold 3.7 TBtu and 9.5 TBtu of natural gas not used in operations to our affiliate, El Paso Marketing, L.P. In June 2011, we terminated our contract to sell gas to El Paso Marketing, L.P. in connection with the implementation of a volume tracker for fuel as part of our rate case filed with the FERC.