Enable Midstream Partners, LP Third Quarter 2014 Conference Call November 4, 2014
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…
Third Quarter Financial Highlights Net income of 139 million, a 34% increase over third quarter 2013 Adjusted EBITDA of 231 million, a 13% increase over third quarter 2013 DCF of 161 million, a 20% increase over third quarter 2013…
Gathering & Processing Highlights Contracted additional acreage dedications in the SCOOP, bringing total SCOOP-area acreage dedications to approximately 1.1 million gross acres SCOOP-area dedications include dedications in the…
Transportation & Storage Highlights Recontracting on our transportation and storage systems continues with the extension of MRTs firm transportation and storage contracts with Laclede through 2017 and 2018 at existing contract…
Third Quarter Operating Statistics Q3 2014 Q3 2013 Gathered volumes (TBtu/d) 3.32 3.48 Natural gas processed volumes (TBtu/d) 1.60 1.49 NGLs produced (MBbls/d)1 68.11 63.16 Condensate sold (MBbls/d) 3.52 2.26 Crude Oil Gathered…
Third Quarter Results in millions Q3 2014 Q3 2013 Gross Margin 1 364 333 Gathering and Processing 222 193 Transportation and Storage 143 141 Operation and Maintenance Expense 128 124 Net Income 2 139 104 Adjusted EBITDA 231…
2014 and 2015 Outlook Reaffirming previously announced EBITDA, DCF and per-unit distribution growth outlook for 2014 and 2015 Growth Capital Outlook in millions 2014 2015 2016 2017 Total Contracted Expansion 675 725 800 1,000 700…
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…
Producer Activity and IRRs Breakeven prices are lower than current market prices in Enables growth areas Not seeing any producer pullback in the SCOOP or Bakken Enable is in constant discussions with producers to understand drilling…
Key Takeaways Significant fee-based business Producer activity remains strong in the SCOOP and Bakken SCOOP-area investments continue to pay dividends with additional acreage dedications contracted during the quarter Continued…
Question and Answer 13
Appendix 14
Non-GAAP Reconciliations Historical Pro Forma 9 Months 3 Months Ended 9 Months Ended Ended September 30, September 30, September 30, 2014 2013 2014 2013 2013 Revenues 803 792 2,632 1,665 2,296 Cost of goods sold, excluding…
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