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UBS MLP One on One Conference – Crestwood Holdings Partners Llc

Crestwood Holdings Partners Llc · Jan 13, 2015 · 28 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 1
    Connections for Americas Energy UBS MLP One-on-One Conference Presentation Title Presentation January Subtitle 13, 2015 1/12/15 Crestwood Midstream Partners LP Crestwood Equity Partners LP
  2. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 2
    Crestwood Midstream/Crestwood Equity Mid-cap midstream partnerships focused on new infrastructure and services in high-growth shale plays Marcellus/Utica, Bakken, PRB Niobrara and Permian Basin growth driven by crude oil and NGL…
  3. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 3
    Well Positioned for Long-Term Growth Two publicly traded MLPs provides Crestwood Equity Partners LP GP IDRs (NYSE: CEQP) strategic flexibility to enhance value NGL Business NGL Business CEQP strategy to be a pure-play GP…
  4. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 4
    Balanced and Diverse Business Mix Estimated 2014 EBITDA Contribution Operating Segments Regional Footprint Operating Assets West 4%West Other US Salt Marcellus Gathering & Central 4% Jackalope Processing 16% NGL & 38% Barnett…
  5. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 5
    Stable Fixed-Fee Contract Portfolio 94% of CMLP 2014 EBITDA from take-or- pay and fixed-fee contracts CMLP Contract Portfolio 2014 YTD EBITDA Major growth assets have substantial downside protection COLT Hub 149 MBbls/d via…
  6. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 6
    Improving Results Since Merger Segment EBITDA ( MMs) +30% Segment Adjusted 2013 2014 (1) (2) EBITDA 3Q 4Q 1Q 2Q 3Q Gathering and Processing 43.2 47.5 48.2 51.0 50.3 Storage and Transportation 34.9 36.7 38.0 34.9 33.2 NGL and Crude…
  7. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 7
    Improving Balance Sheet Outlook Dec 31, Sep 30, ( in millions) 2013 2014 BB/Ba3 credit rating; stable outlook CMLP Balance Sheet Profile 500 MM Class A preferred equity commitment received by CMLP; 375 MM Revolver Balance (1) 414.9…
  8. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 8
    Improving DCF and Leverage Outlook CMLP CMLP is the growth engine of the Crestwood partnerships ( millions) CMLP has invested cumulative capital of 1.5 billion in acquisitions and organic growth projects since the merger…
  9. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 9
    Visibility to Long-Term Growth 2.0 billion of identified potential expansion opportunities around asset footprint E Expansion Opportunities A A. Marcellus Shale: 500 to 600 million B. South Texas: 1.1 to D 1.3 billion C. Permian…
  10. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 10
    Projects Update and Growth Opportunities Connections for Americas Energy 11 11
  11. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 11
    Tres Palacios Joint Venture 130 MM acquisition of Tres Palacios by CMLP and Brookfield Infrastructure Substantial growth opportunity for CMLP; improved credit metrics for CEQP Transaction validates improved Transaction Structure…
  12. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 12
    Brookfield Becomes Strategic Partner New Strategic Partnership Significant Capital and Energy Track Record Brookfield Infrastructure Fund: 29 billion of infrastructure assets in North America spanning energy, utilities and…
  13. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 13
    Tres Palacios Organic Growth Opportunities Substantial upside through cyclical return 9.0 Bcf/d New Project Potential to normalized gas storage markets in South Texas 500 MMcf/d Power 1.0 billion capital investment Gen…
  14. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 14
    NE Marcellus NS and Marc I Expansion Projects North-South Millennium Interconnect Expansion for additional 200 MMcf/d of firm 200 MMcf/d North-South transportation service Expansion Project Capex 10.9 MM; sub 2x EBITDA multiple;…
  15. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 15
    NE Marcellus MARC II Pipeline Project MARC I / North South pipelines transported a record 1.95 Bcf/d in recent weeks Current NE Marcellus supply access 2.5 Bcf/d; expansion increase to 3.3 Bcf/d MARC II Pipeline Marc II project…
  16. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 16
    SW Marcellus (Antero) Gathering & Compression Antero Midstream Crestwood Dedication Area Dedication Area Crestwood Dedication Area 20-year, fixed-fee gathering and compression services w/ annual escalators 7-year increasing MVCs on…
  17. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 17
    Marcellus/Utica NGL Supply and Logistics Opportunities Key NGL assets and long-term customer relationships gives Crestwood a competitive advantage in growing Marcellus/Utica natural gas liquids opportunities NGL Marketing Leading…
  18. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 18
    Crude Oil Services Strategy Midstream value chain strategy at work in the Bakken and PRB Niobrara Crude Oil Strategy Focused on infrastructure for growing Bakken Shale and PRB Niobrara plays Fully integrated crude oil services…
  19. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 19
    Crude Price Impact on Bakken Development North Dakota Oil and Gas Industry Impacts Study 2014-2019: KLJ, Inc Report commissioned by North Dakota legislature to forecast the level of production and the trends that COLT Terminal…
  20. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 20
    Bakken Arrow Gathering Acquired in November 2013; Substantial long-term growth through system build out 150,000 acre dedication on Fort Berthold Indian Reservation (FBIR) Considered best acreage in Bakken 1,200 estimated drilling…
  21. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 21
    Arrow System and Volumes Continue to Grow Gas Volumes Mcf/d 60,000 50,000 40,000 30,000 20,000 10,000 0 Station 3 Station 6 4/1 6/1 8/1 10/1 12/1 2/1 4/1 6/1 8/1 10/1 12/1 Station 1 Produced Water Bbls/d Station 2…
  22. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 22
    Bakken COLT Hub and Connector Acquired in December 2012; COLT Hub links Bakken crude supply to prime refinery markets; currently the leading rail terminal in North Dakota by volume Sourcing Capacity Storage Capacity Takeaway…
  23. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 23
    PRB Niobrara Gathering, Processing & CBR Acquired in June 2013; fully integrated rich-gas and crude services through gathering, processing, trucking and crude-by rail storage and terminal facilities Jackalope Rich Gas Gathering…
  24. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 24
    Key Investor Highlights Financial stability with visible growth through execution of value chain strategy Strategically located assets in Marcellus/ Utica, Bakken, PRB Niobrara and Permian Basin Diversified mix of natural gas, NGLs…
  25. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 25
    Crestwood Midstream Partners LP Non-GAAP Reconciliations CRESTWOOD MIDSTREAM PARTNERS LP (FORMERLY INERGY MIDSTREAM, L.P.) Segment Data (in millions) (unaudited) 2 0 14 2 0 13 3 rd Q tr 2 n d Q tr 1s t Q tr 4 th Q tr 3 rd Q tr…
  26. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 26
    Crestwood Midstream Partners LP Non-GAAP Reconciliations CRESTWOOD MIDSTREAM PARTNERS LP (FORMERLY INERGY MIDSTREAM, L.P.) Reconciliation of Non-GAAP Financial Measures (in millions) (unaudited) 2 0 14 2 0 13 3 rd Q tr 2 n d Q tr 1s…
  27. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 27
    Crestwood Equity Partners LP Non-GAAP Reconciliations CRESTWOOD EQUITY PARTNERS LP (FORMERLY INERGY, L.P.) Segment Data (in millions) (unaudited) 2 0 14 2 0 13 3 rd Q tr 2 n d Q tr 1s t Q tr 4 th Q tr 3 rd Q tr Gathering and…
  28. UBS MLP One on One Conference – Crestwood Holdings Partners Llc – slide 28
    Crestwood Equity Partners LP Non-GAAP Reconciliations CRESTWOOD EQUITY PARTNERS LP (FORMERLY INERGY, L.P.) Reconciliation of Non-GAAP Financial Measures (in millions) (unaudited) 2 0 14 2 0 13 3 rd Q tr 2 n d Q tr 1s t Q tr 4 th Q…

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