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Barclays CEO Energy Power Conference – Williams Partners Lp

Williams Partners Lp · Sep 3, 2014 · 18 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. Barclays CEO Energy Power Conference – Williams Partners Lp – slide 1
    Barclays CEO Energy-Power Conference Alan Armstrong, Chief Executive Officer September 3, 2014
  2. Barclays CEO Energy Power Conference – Williams Partners Lp – slide 2
    Important Information This document does not constitute an offer to buy or solicitation of an offer to sell any securities. This document contains information related to a proposal which The Williams Companies, Inc. has made for a…
  3. Barclays CEO Energy Power Conference – Williams Partners Lp – slide 3
    Diverse, Large-Scale Strategic Positions Delivering Value Today, Ongoing Growth Marcellus-Utica Zoom-in View 5 Barclays CEO Energy-Power Conference 9/3/14 2014 The Williams Companies, Inc. All rights reserved.
  4. Barclays CEO Energy Power Conference – Williams Partners Lp – slide 4
    Williams Value Chain Adds Significant Growth Foothold with ACMP Acquisition Opportunities to extend services ACMP adds 20% U.S. Dry-Gas Volumes Touch Our Systems depth Market Hub Transmission Pipelines and Storage in key growth…
  5. Barclays CEO Energy Power Conference – Williams Partners Lp – slide 5
    We Are Well Positioned to Benefit from Supply Growth NATURAL GAS U.S. SUPPLY GROWTH (Bcf/d) Direct CAGR CAGR Ownership 3% 3% 120 09-13 14-30 +17% +58% 100 Northeast +9.5 +39.8 Bcf/d Bcf/d Rockies 80 San Juan Gulf of Mexico…
  6. Barclays CEO Energy Power Conference – Williams Partners Lp – slide 6
    Demand Shows Up in Response to Supply, Price; 105 Bcf/d on Conservative 2% CAGR U.S. GAS DEMAND (Bcf/d) CAGR CAGR 2.5% 2% 120 09-13 14-30 +14% +47% 100 Other +8.5 +33.5 Bcf/d Transport Bcf/d LNG Exports 80 Power 60 40…
  7. Barclays CEO Energy Power Conference – Williams Partners Lp – slide 7
    Competitive Advantages Delivering Large-Scale Projects, Long-Term Value Creation WEST ATLANTIC-GULF Increased fee-based revenues Transco: Nations largest to 80% of gross margins and fastest-growing pipeline Extensive network of…
  8. Barclays CEO Energy Power Conference – Williams Partners Lp – slide 8
    Delivering Large-Scale Infrastructure to the Marcellus & Utica Marcellus MARCELLUS & UTICA SHALE OVERVIEW (wholly owned or operated) Susquehanna Supply Hub (SSH) 2015* 3 Bcf/d takeaway capacity Laurel Mountain Midstream (LMM)…
  9. Barclays CEO Energy Power Conference – Williams Partners Lp – slide 9
    WPZ and ACMP: Large, Complementary Positions Serving the Best NE Marcellus Acreage Gross Dedicated Acres Laurel Mtn Midstream 500,000 ACMP Marcellus 1,544,000 Ohio Valley Midstream 236,000 Susquehanna 150,000 Three Rivers JV…
  10. Barclays CEO Energy Power Conference – Williams Partners Lp – slide 10
    WPZ and ACMP: Large, Complementary Positions Serving the Best SW Marcellus/Utica Acreage Gross Dedicated Acres Laurel Mtn Midstream 500,000 ACMP Marcellus 1,544,000 Ohio Valley Midstream 236,000 Susquehanna 150,000 Three Rivers JV…
  11. Barclays CEO Energy Power Conference – Williams Partners Lp – slide 11
    Transco: Nations Largest, Fastest Growing Interstate Pipeline System Garden State NE Connector/ CAPITAL INVESTED PLACED Expansion Rockaway Lateral INTO SERVICE (B) Leidy Atlantic 4.8 Southeast Sunrise 2017 Constitution CPV…
  12. Barclays CEO Energy Power Conference – Williams Partners Lp – slide 12
    Gas Pipeline Assets: Unprecedented Growth with Fully Contracted Projects CAPITAL INVESTMENT PLACED INTO SERVICE (MM) MMdt/d 4,000 18 16.5 2011-2014 3,500 16 13 major 3,000 projects 14 contracted 2,500 10.8 2,000 12 1,500 2014+ 10…
  13. Barclays CEO Energy Power Conference – Williams Partners Lp – slide 13
    Large-Scale, Deepwater Footprint Attracting High-Return Tiebacks CONTRACTED: Gulfstar One Tubular Bells (GS1) expected online 3Q 2014 Kodiak tieback to Devils Tower expected online 3Q 2015 Gunflint tieback to GS1 expected online…
  14. Barclays CEO Energy Power Conference – Williams Partners Lp – slide 14
    Proposed ACMP/WPZ Merger Would Create Leading Natural Gas MLP Expected Expected 2015 distribution increase of at least 25%1 above Access Midstream Partners current Benefits guidance of 2.791 per unit up more than 40%1 vs. current 2014…
  15. Barclays CEO Energy Power Conference – Williams Partners Lp – slide 15
    Significant Valuation Re-rating Opportunity Still Lies Ahead 2014-2016 DISTRIBUTION CAGR Current Yield 10% Median large-cap, diversified coverage ratio is 1.1x Merged MLP expected to be at or above 1.1x through 2017 8% KMP WPZ…
  16. Barclays CEO Energy Power Conference – Williams Partners Lp – slide 16
    Expect 25 Billion in WPZ Committed Plus Potential WMB projects expected to be Capital Projects 2014-19; Additional 4 Billion dropped down to WPZ in late 2014 of 2014-16 Growth Capex at ACMP to early 2015 TARGET IN-SERVICE DATES FOR…
  17. Barclays CEO Energy Power Conference – Williams Partners Lp – slide 17
    Williams Well Positioned to Participate in Once-in-a-generation Industry Supercycle WMB now one of the largest publicly traded GP holding companies with control of both WPZ and ACMP Right long-term strategy at the right time Ideally…
  18. Barclays CEO Energy Power Conference – Williams Partners Lp – slide 18
    Net Income After Tax Reconciliation to 2015 Adjusted EBITDA Williams Access Partners Midstream Combined* Low High Low High Low High Net income after tax attributable to partnership 1,755 2,105 470 645 Net interest expense 645 665 225…

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