Non-GAAP Financial Measures The Partnership has included the non-GAAP financial measures gross margin, Adjusted EBITDA and distributable cash flow in this presentation based on information in its condensed combined and consolidated…
2014 Financial Highlights Net income1 of 530 million, an 18% increase over pro forma 2013 Adjusted EBITDA of 868 million, an 11% increase over pro forma 2013 DCF of 622 million, a 14% increase over pro forma 2013 Fourth quarter…
Well-Positioned for Todays Environment Investment grade ratings, low leverage and substantial liquidity with a 2.9x debt-to-Adjusted EBITDA ratio1 as of December 31, 2014 and 1.2 billion in revolver capacity2 as of January 31, 2015…
Major Project Updates Bradley Plant scheduled for a first quarter 2015 start-up Additional SCOOP-area 200 MMcf/d plant now scheduled for a first quarter 2016 start-up SCOOP gathering and compression build-out continues with 47,000 HP…
Current Market Update Approximately 350 rigs are currently operating in the counties in which Enable Midstream operates or is constructing assets as of February 13, 2015, a decrease of approximately 70 rigs since October 21, 20141…
Growth Strategy Remains Unchanged Capture organic growth opportunities in our core basins Extend the value chain from wellhead to end users in our core commodities of gas, NGLs and crude Establish a presence in high- growth…
Fourth Quarter Results in millions Q4 2014 Q4 2013 Gross Margin 1 371 338 Gathering and Processing 207 203 Transportation and Storage 165 135 Operation and Maintenance Expense 144 127 Net Income 2 122 115 Adjusted EBITDA 198…
2015 Outlook 2014 Prior Updated in millions, except volume numbers Actuals 2015 Outlook 2015 Outlook Natural Gas Gathered Volumes (TBtu/d) 3.34 3.5 3.7 3.1 3.3 Natural Gas Processed Volumes (TBtu/d) 1.56 1.9 2.2 1.6 1.8 Crude Oil…
Expansion Capital Outlook in millions 2015 Contracted Expansion 600 800 Identified Opportunities 0 300 Total 600 1,100 Contracted Expansion includes: Gathering, compression and processing infrastructure to support projected…
Commodity Exposure Enable targets fee-based contracts on a firm basis, when possible Some gathering and processing contracts have provisions to protect against low commodity price environments and volume decreases Commodity…
2014: A Track Record of Delivery Successful 575 million IPO and 1.65 billion debt offering Multiple commercial accomplishments: contracted a new 30,000 Bbl/d Bakken crude gathering system, added 600,000 gross acres of new…
Focus for 2015 2015: A Year for Operational, Commercial and Financial Excellence Partner in our customers success Maintain a strong balance sheet and investment grade credit ratings Manage costs Disciplined growth Safety and…
Question and Answer Question & Answer 16
Appendix Appendix 17
Non-GAAP Reconciliations Historical Pro Forma 3 Months Ended Year Ended Year Ended December 31, December 31, December 31, 2014 2013 2014 2013 2013 Revenues 735 824 3,367 2,489 3,120 Cost of goods sold, excluding depreciation and…
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