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Q3 2014 Earnings Call – Dominion Resources, Inc.

Dominion Resources, Inc. · Oct 31, 2014 · 16 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. Q3 2014 Earnings Call – Dominion Resources, Inc. – slide 1
    3rd Quarter 2014 Earnings Call October 31, 2014
  2. Q3 2014 Earnings Call – Dominion Resources, Inc. – slide 2
    3Q14 Operating Earnings Summary 1.05 3rd Quarter Drivers 0.93 0.90 Mild weather Merchant margins Lower operating expenses Lower interest expenses Guidance Actual Range Operating EPS* *See page 34 of the 3Q 2014 Earnings…
  3. Q3 2014 Earnings Call – Dominion Resources, Inc. – slide 3
    Operating EBIT 3Q14 actual versus guidance (in millions) Guidance Actual Drivers Mild weather Dominion 255-270 248 Virginia Power Electric Transmission Mild weather Dominion 600-670 572 Generation Merchant margins Lower…
  4. Q3 2014 Earnings Call – Dominion Resources, Inc. – slide 4
    Financing 3rd Quarter Activities Issued 1 billion of mandatory convertibles Dominion Gas Holdings exchanged 1.2 billion of 144-A private placement notes for registered securities Called 685 million 2009 Series A 8.375% Enhanced…
  5. Q3 2014 Earnings Call – Dominion Resources, Inc. – slide 5
    Dominion Midstream Partners Successfully completed IPO in October Offering price of 21 20,125,000 common units Dominion will retain: 100% ownership of GP and all associated IDRs 68.5% LP ownership 50% subordinated units 18.5%…
  6. Q3 2014 Earnings Call – Dominion Resources, Inc. – slide 6
    4Q14 Operating Earnings Guidance 4th Quarter Drivers 0.80 to 0.90 Va. Power riders Farmout earnings 0.80 Va. Power sales Normal weather Merchant margins Millstone planned outage 4Q13 4Q14 EPS EPS* Guidance* DD&A * See pages…
  7. Q3 2014 Earnings Call – Dominion Resources, Inc. – slide 7
    4Q14 Earnings Guidance 3.65 YTD Merchant 4Q Normal 0.80 Va Power Margins Oakford Normal weather Millstone Va Power sales 3.35 Farmout weather Outage DD&A Riders growth 2.59 4Q13 EPS* 3Q YTD 2014 EPS* Guidance…
  8. Q3 2014 Earnings Call – Dominion Resources, Inc. – slide 8
    Hedged Power Update Millstone Hedge 2014 2015 2016 Position 99% 84% 38% 71.19 69.23 62.19 56.80 56.30 /MWH 54.81 52.43 49.29 2013 2014 2015 2016 NEPOOL Baseload Avg. Hedge Price NEPOOL ATC Power Price 2014-2016…
  9. Q3 2014 Earnings Call – Dominion Resources, Inc. – slide 9
    Investor & Analyst Meeting Meeting scheduled for February 9th in NYC Topics for discussion Dominions long-term growth strategy Dominion Midstreams long-term growth strategy Benefits of MLP to Dominion Dominions long-term EPS…
  10. Q3 2014 Earnings Call – Dominion Resources, Inc. – slide 10
    Dominion Generation Warren County Expect in service in 4Q Brunswick County 35% complete Expect in service mid-2016 Warren Warren County County 2019 Combined Cycle Large 3x1 natural gas fired generation Expect to file CPCN…
  11. Q3 2014 Earnings Call – Dominion Resources, Inc. – slide 11
    Dominion Generation Current Solar Projects 2013 4Q 2014 4Q 2014 2Q 2015 Azalea, Somers 7 CA Projects 2 TN Projects 2 CA Projects and Indy Solar expected In- expected In- expected In- entered service Service* Service Service** 41 MW…
  12. Q3 2014 Earnings Call – Dominion Resources, Inc. – slide 12
    Dominion Energy Allegheny Storage, Western Access I, and Natrium to Market All projects expected in service on November 1 Producer Outlet Projects Have announced nine projects totaling 2bcf/d by 2016 Five of the nine projects will…
  13. Q3 2014 Earnings Call – Dominion Resources, Inc. – slide 13
    Dominion Energy Atlantic Coast Pipeline JV OWNERSHIP STRUCTURE: Dominion Resources* 45% Duke Energy 40% Piedmont Natural Gas 10% AGL Resources 5% 550 miles of primarily 42 pipe 1.5 Bcf per day capacity Expandable to 2 Bcf per…
  14. Q3 2014 Earnings Call – Dominion Resources, Inc. – slide 14
    Dominion Energy Supply Header Project Project will increase access to diverse Marcellus and Utica gas supplies for ACP customers and other producers Capacity 1 - 1.5 Bcf per day Binding open season underway ACP DTI Pipeline…
  15. Q3 2014 Earnings Call – Dominion Resources, Inc. – slide 15
    Dominion Energy Blue Racer update 2,000 Utica Well Permitted Berne processing facility is Status 1,500 expected to begin operations in of Wells the 4th quarter Drilled 1,000 Two additional facilities will increase processing…
  16. Q3 2014 Earnings Call – Dominion Resources, Inc. – slide 16
    Visit our website at www.dom.com/investors.

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