FIRST QUARTER 2015 CONFERENCE CALL PRESENTATION May 6, 2015
NON-GAAP MEASURES D i s t r i b u t a b l e C a s h F l o w ( D C F ) , A d j u s t e d E B I T D A a n d N e t O p e r a t i n g M a r g i n a r e n o n- G A A P F i n a n c i a l M e a s u r e s , a n d s h o u l d n o t b e considered…
FIRST QUARTER 2015 HIGHLIGHTS Total volume of 5.4 Bcf/d for the first quarter 2015, an increase of 52% over the first quarter 2014 and 8% over the fourth quarter 2014 We are now the second largest gas processor in the U.S. Reported…
SOUTHWEST SEGMENT OVERVIEW Utilization of processing complexes in the Processed Volumes (MMcf/d) Southwest averaged 83% during the first quarter 10% 1,200 2015 Announced 80 MMcf/d processing expansion in East Texas to support…
MARCELLUS SEGMENT OVERVIEW Processed Volumes (MMcf/d) Processed volumes increased 73% compared from the first quarter 2014 and 11% 3,500 compared to the fourth quarter 2014 50% Average utilization of Marcellus processing 3,000…
M A R K W E S T M A R C E L L U S O P E R AT I O N S 27 facilities completed: 15 facilities under construction HOPEDALE FRACTIONATION COMPLEX KEYSTONE COMPLEX Butler (MarkWest & MarkWest Utica EMG shared Bluestone I II & Sarsen I 210…
UTICA SEGMENT OVERVIEW Processed Volumes (MMcf/d) MarkWest Utica EMG supports producers 900 development of the Utica Shale, with the largest fully integrated midstream system in Ohio 800 95% Processed volumes increased 201% from the…
M A R K W E S T U T I C A O P E R AT I O N S 9 facilities completed: 4 facilities under construction HOPEDALE FRACTIONATION COMPLEX OHIO (MarkWest & MarkWest Utica EMG shared Carroll fractionation capacity) C3+ Fractionation I &…
M A R C E L L U S & U T I C A F R A C T I O N AT I O N O V E R V I E W Total C2+ fractionated volumes from the Fractionated Volumes (Bbl/d) 50% Marcellus and Utica exceeded 215 MBbl/d for the first quarter 2015, an increase of 68%…
M A R C E L L U S & U T I C A O P E R AT I O N S 34 Facilities Completed Market Share of Processing Capacity Currently Operational 4.1Bcf/d 4.1 Processing Capacity Bcf/d 326 MBbl/d C2+ Fractionation Capacity MarkWest OPERATES…
PROCESSED VOLUME GROWTH We are now the second largest gas processor in the U.S. 1.3 Bcf/d 2.3 Bcf/d 5.3 Bcf/d Increase of 4 Bcf/d in 4 years 12
FINANCIAL FORECAST 2015 DCF Forecast: 700MM 800MM 2015 EBITDA Forecast: 925MM 1,025MM Capital Investment Forecast Net Operating Margin Forecast 2015: 1.5B to 1.9B 100% 2015 12% 80% 90% Fee-based 60% 12% 53% of C3+ 40%…
FINANCIAL SUMMARY MarkWest has over 1.4 billion of liquidity MarkWest preserves a strong balance sheet to fund growth We have over 1.4 billion of liquidity to support our capital investment program MarkWest maintains flexible…
APPENDIX
R E C O N C I L I AT I O N O F D C F & D I S T R I B U T I O N C O V E R A G E Three Months Ended Year Ended ( in millions) 3/31/2015 12/31/2014 Net Income 5.5 160.3 Depreciation, amortization and other non-cash operating expenses…
R E C O N C I L I AT I O N O F A D J U S T E D E B I T D A LTM Ended Year Ended Year Ended ( in millions) 3/31/2015 12/31/2014 12/31/2013 Net income 149.9 160.3 40.4 Non-cash compensation expense 12.3 10.3 7.8 Unrealized (gain) loss…
R E C O N C I L I AT I O N O F N E T O P E R AT I N G M A R G I N Three Months Ended Year Ended ( in millions) 3/31/2015 12/31/2014 Income from operations 52.5 377.2 Facility expenses 91.8 343.4 Derivative gain (2.8) (95.3)…
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