ENTERPRISE PRODUCTS PARTNERS L.P. MITSUBISHI OIL AND GAS CONFERENCE May 7, 2015 Bryan Bulawa Senior Vice President & Chief Financial Officer ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
ENTERPRISE PRODUCTS PARTNERS L.P. One of the largest integrated midstream energy companies Integrated system enables EPD to minimize impact of cyclical commodity swings Large supply aggregator and access to domestic and…
SIGNIFICANT INSIDER OWNERSHIP / DEEP BENCH Significant insider ownership EPCO and affiliates own 34.5% of L.P. units EPCO & Affiliates Supportive General Partner 100% Facilitated elimination of incentive General…
EPD TODAY: NATURAL GAS, NGLS, CRUDE OIL, REFINED PRODUCTS AND PETROCHEMICALS Asset Overview Connectivity Pipelines: 51,300 miles of natural gas, NGL, crude oil, refined Connected to U.S. major shale basins products and…
DIVERSIFIED SOURCES OF CASH FLOW BACKED BY FEEBASED BUSINESS MODEL (1) 5.3 Billion Gross Operating Margin 4 Year Growth Capital Allocation 20142017E For 12 months ended March 31, 2015 11.7 Billion (predominantly feebased) 15%…
SUCCESSFUL EXECUTION IN CONSTRUCTION OF CAPITAL PROJECTS Since 2009, completed 98 major capital projects totaling 15 billion of gross investment approximately 2% under budget 4% % Over / (Under) Budget 2% 2.6% 0% 1.0% 2.0%…
INDICATIVE ECONOMICS FOR KEY OIL PLAYS Before / After Drill and Complete Cost Improvements Average and HighGrade Wells with NGL Upgrade 100 Avg w/D&C 15% 15% Average HG w/D&C 15% 15% Highgrade Avg 90 Pricing Assumes 20% BFIT…
SEAWAY CRUDE PIPELINE COMPANY LLC Reversal / Expansion Project Complete Cushing Formed in March 2012 by Enbridge and EPD Reversed flow on pipeline to NorthSouth with O k l a h o m a 150 MBPD capacity in May 2012 A r k a n…
EAGLE FORD JV PROJECT EXPANSION TO HANDLE CONDENSATE / PROCESSED CONDENSATE EPD and Plains JV will construct a new condensate gathering system 55 miles connecting surrounding counties to Three Rivers Terminal Marshall Expand…
MIDLAND TO HOUSTON CRUDE OIL PIPELINE 400mile, 24 pipeline from Oklahoma Cushing Midland to Sealy, Texas Connect to Houston refining market via ECHO / Rancho II pipeline Operate in batch mode to Lynch Hobbs transport up to…
ECHO: UNPARALLELED CONNECTIVITY FOR CRUDE OIL AND CONDENSATE Moore Road From Cushing 36/24/24 EPD Houston Ship Channel 24 Galena Park Sealy 30 Baytown 24 24 45 draft XOM VLO H.R. PRSI Shell Beaumont Katy 24 Rancho…
PERMIAN ASSET FOOTPRINT 700 Million in Growth CAPEX 20152017E Existing Assets 2 gas gathering systems: 1,500 miles of pipe 3 gas processing plants: 350 MMcf/d capacity 75 MBPD of NGL fractionation capacity at Hobbs 2.1 MMBbls of…
EPD HOUSTON SHIP CHANNEL TERMINAL A Recent Addition Houston Ship Channel Terminal Over 20 MMBbls storage with 3.1 MMBbls under construction Room to grow by more than 5 MMBbls on 58 acre Port of Houston lease Ship dock 1A and…
U.S. ETHANE SUPPLY / DEMAND OUTLOOK MBPD 3,000 2,500 2,000 1,500 1,000 500 2014 2015 2016 2017 2018 2019 2020+ Production Range Existing Demand Conversions & Expansions New Builds Exports Potential Projects…
WORLD ETHYLENE CASH COST ETHANE PLENTIFUL AND STABLE Cash Cost CPP 70 Asia Naphtha 60 50 40 30 NWE Naphtha U.S. Propane 20 10 U.S. Ethane 0 Jan13 Apr13 Jul13 Oct13 Jan14 Apr14 Jul14 Oct14 Jan15 Apr15 Source: EPD…
ETHANE EXPORT FACILITY: MORGANS POINT ON HOUSTON SHIP CHANNEL New ethane export Shipbuilders Response to Increased Ethane Demand facility with a combined Estimated Ethane / Ethylene Vessel Capacity (1) 14 operating rate of 50 12…
ATEX AND AEGIS ETHANE PIPELINES ATEX Pipeline 1,205mile, 16 and 20 pipeline Initial capacity 125 MBPD, expandable to 265 MBPD Connected to 4 NGL fractionators 15 year shiporpay commitments ATEX C2 Contracted Volumes Inservice…
NORTHEAST PROPANE BALANCES (MBPD) Northeast has transitioned from a supply short to a seasonal supply long position Without an evacuation pipeline, propane is steeply discounted due to growing volumes evacuated by rail, which is…
POTENTIAL MARCELLUS PROPANE TAKEAWAY PROJECT Only 150 miles separate TE Products and MAPL propane systems Linked systems would allow 4060 MBPD of Marcellus / Utica propane to access Midwest, Conway and Mont Belvieu markets…
PROPYLENE MARKET ENVIRONMENT 16 1,100 Propylene production from 15.2 14.7 ethylene crackers decreased by 14 1,000 5.8 billion pounds or 38% since 12.8 900 2006 due to decline in naphtha 12 11.4 800 and heavy NGL cracking 10.8…
ENTERPRISE PDH FACILITY New PDH facility will produce up to 1.65 billion pounds per year of polymer grade propylene or 25 MBPD Consume 35 MBPD of propane 100% of capacity contracted under feebased contracts with investment…
U.S. BECOMES LARGEST EXPORTER OF PROPANE EPD Propane Exports by Destination as of March 2015 EPD 2015 Propane Exports by Destination Region: 22 MMBbls % of Cargoes Loaded % of Destination Market North America 24% 42% South America…
LPG LOADINGS Historical and Committed Loadings vs. Capacity 1,800 Cargos Scheduled from 20152024 16 14 12 10 MMBbls 8 6 Existing Capacity: 9.0 MMBbls/mo 4 Expansion 4Q 2015: +7.0 MMBbls/mo Total Capacity: 16.0…
ENTERPRISE LPG PROJECTS: EXPANDING THE PREMIERE U.S. LPG EXPORT FACILITY 16,500 BPH, using two dedicated pipes from Mont Belvieu (9.0 MMBbls/month) Upon completion of the expansion: New 30 pipeline from Mont Belvieu Maximum…
HISTORY OF FINANCIAL DISCIPLINE WHILE EXECUTING GROWTH STRATEGY Total Growth Capex & Debt Leverage Retained 1.4 billion of DCF 8.0 7.8 in 2014; 0.3 billion in 1Q 4.6 4.7x 2015 to reinvest in the 7.0 partnership 4.5x 6.0…
STRENGTHENING DEBT PORTFOLIO Extending Maturities Without Increasing Costs 15.9 Billion Notes Issued(1) 93.6% Fixed Rate Debt 15 2009 2014 14.1 7.5% 13.7 13 13.3 7.3% Average Maturity Years 12.3% 12.4 Cost of Debt…
APPENDIX ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
VISIBILITY TO GROWTH: MAJOR CAPITAL PROJECTS 4.4B InService 2014 / 1Q 2015; 7.4B Under Construction In Service Date 2014 1Q2015 2Q2015 3Q2015 4Q2015 2016/2017 NGL Pipeline & Services Mid-America NGL pipeline expansion Rocky Mountain…
NONGAAP RECONCILIATIONS ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
GROSS OPERATING MARGIN We evaluate segment performance based on the nonGAAP financial measure of gross operating margin. Gross operating margin (either in total or by individual segment) is an important performance measure of the core…
ADJUSTED EBITDA Adjusted EBITDA is commonly used as a supplemental financial measure by our management and external users of our financial statements, such as investors, commercial banks, research analysts and ratings agencies to…
DISTRIBUTABLE CASH FLOW Distributable cash flow is an important nonGAAP financial measure for our limited partners since it serves as an indicator of our success in providing a cash return on investment. Specifically, this financial…
CONTACT INFORMATION Randy Burkhalter Vice President, Investor Relations (713) 3816812 rburkhaltereprod.com Jackie Richert Senior Manager, Investor Relations (713) 3813920 jmricherteprod.com ALL RIGHTS RESERVED. ENTERPRISE…
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