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CORPORATE PRESENTATION – Pembina Pipeline Corp

Pembina Pipeline Corp · Oct 1, 2014 · 38 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. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 1
    PEMBINA PIPELINE CORPORATION CORPORATE UPDATE TSX: PPL, NYSE: PBA October 2014 1
  2. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 2
    PEMBINA IS A UNIQUE INVESTMENT OPPORTUNITY Pembina represents a pure play energy infrastructure company that allows investors to participate in the resurgent volume growth of the Western Canadian Sedimentary Basin Well-Positioned…
  3. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 3
    BUSINESSES AT A GLANCE Oil Sands & Heavy Oil TSX: PPLNYSE: PBA 1,650 km of pipelines with 880 mbpd of contracted capacity Common shares outstanding (1) 328 million TSX common share trading price (1) 49.58 Gas Services TSX 52-week…
  4. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 4
    IDEALLY LOCATED ASSETS Integrated system of pipelines transport hydrocarbon liquids produced in western Canada: conventional and synthetic crude oil, heavy oil and oil sands products, condensate (diluent) natural gas liquids…
  5. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 5
    ASSETS AND MAJOR PLAYS ALBERTA ATHABASCA OIL SANDS MONTNEY SLAVE POINT SEAL PELICANLAKE SWAN HILLS Gas Processing Plant Redwater Fractionator Midstream Storage Facility DEEP BASIN Truck Terminal Rail Terminal Pembina…
  6. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 6
    CUSTOMER FOCUSED VALUE CHAIN Conventional Gas Services Pipelines Midstream Mainline Extraction Gas/HVP Value Chain: Gathering and processing Transportation on Conventional Pipelines Gathering, Fractionation at Production…
  7. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 7
    STRONG MARKET PERFORMANCE 500 % total return* * Jan 1, 2004 Dec 31, 2013, inclusive of dividends reinvested 4.6 % CAGR in dividends per share* * 2004 - 2013 2.8 billion in dividends paid since inception* * To…
  8. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 8
    STRONG FINANCIAL PERFORMANCE 10 21 % CAGR % CAGR in ACFPS in operating margin 2004 2013 2004 2013 2.50 1,000 900 Adjusted Cash Flow Per Share 2.00 800 700 1.50 600 ( millions) 500 1.00 400 300 0.50 200…
  9. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 9
    FEE-FOR-SERVICE PROJECTS Capital Red indicates projects under Projects (all fee-for-service) In-Service (CMM) construction or development Conventional Pipelines Does not include Vantage and SEEP Phase II Expansions 695 2014-2015…
  10. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 10
    BUSINESS OVERVIEW 11
  11. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 11
    CONVENTIONAL PIPELINES Operational excellence ALBERTA 99% reliable FORT ST JOHN TAYLOR DUNVEGAN FORT MCMURRAY Proximal to prolific geology Q2 2014 throughput: 573 VALLEYVIEW mbpd (18% increase from Q2 GRANDE PRAIRIE SWAN…
  12. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 12
    SOLID BUSINESS PLATFORM 100% of revenue is fee-for-service No direct commodity exposure Expansions underpinned by long-term contracts Established infrastructure captures incremental production from major resources plays…
  13. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 13
    GROWING THROUGHPUT Solid industry performance combined with strategically located assets has led to strength in Pembina's throughput profile 573 mbpd 492 mbpd 456 mbpd 414 mbpd 500 393 mbpd 374 mbpd 400 (mbpd) 300…
  14. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 14
    OUR EXPANSIONS COULD BRING CAPACITY TO 1.5 MILLION BPD 1,600 1,508 mbpd 1,400 1,200 420 1,000 mbpd 800 55 53 52 40 600 175 400 200 453 Pre-Expansion Phase I Phase II Phase III Phase III (Ultimate Phase…
  15. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 15
    RECENTLY UPSIZED 2.44 BILLION PHASE III EXPANSION ALBERTA Secured additional commitments to FT. ST. JOHN upsize expansion to include a new TAYLOR GORDONDALE 16 pipeline from Fox Creek into Namao and a new 12 pipeline from DAWSON…
  16. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 16
    NEW PIPELINE ACQUISITION IN THE NORTH DAKOTA BAKKEN Entered into agreement to acquire the Vantage HVP pipeline system for USD 650 million, including associated assets1 Fort Saskatchewan EDMONTON Petrochemical Pipeline originates…
  17. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 17
    OIL SANDS & HEAVY OIL Syncrude Pipeline Horizon Pipeline Operational excellence Cheecham Lateral Nipisi Pipeline 99+% reliable over Mitsue Pipeline Peace Pipeline operating history Diverse connectivity to various industry hubs…
  18. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 18
    SOLID BUSINESS PLATFORM PIPELINE SYSTEM SYNCRUDE HORIZON CHEECHAM NIPISI & MITSUE Contracted Capacity 389,000 250,0001 136,000 127,000 (bpd) Contract Type Cost-of-Service Fixed Return Fixed Return Fixed Return Initial Term 25+…
  19. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 19
    GAS SERVICES Operational excellence Gas Processing Plant Redwater Fractionator 96% reliable PEACE PIPELINE Pembina Conventional MUSREAU GAS Pipelines Regional wells contain total PLANT & DEEP CUT Pembina Gas Services…
  20. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 20
    SOLID BUSINESS PLATFORM Strategically positioned infrastructure in active and emerging NGL rich plays Provide gas gathering, compression and shallow/deep cut processing services 100% fee-for-service revenue (no direct commodity…
  21. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 21
    NEW GAS PLANT ACQUISITION CANADA Entered into agreement to acquire the in-development Saskatchewan Ethane Extraction Plant (SEEP) as part of Viewfield Plant Vantage acquisition 1 WEYBURN Expected additional capital cost…
  22. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 22
    EXPANDING TO MEET CUSTOMER DEMAND 1,400 70,000 1,257 MMcf/d 1,200 200 60,000 54 1,000 50,000 100 Bpd (NGL and C5 Output) 130 800 40,000 MMcf/d 200 600 30,000 50 205 Additional 61% of contracted 400 20,000…
  23. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 23
    NGL MIDSTREAM Map for illustrative Redwater West: purposes only. Gas Processing Plant 73 mbpd NGL fractionator and 7.8 mmbbls Redwater Fractionator of finished product cavern storage Midstream Storage Facility Truck Terminal…
  24. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 24
    NATURAL GAS LIQUIDS FRACTIONATION GROWTH 300 RFS II: 250 mbpd New 415 million 73 mbpd C2+ fractionator 250 Committed take-or-pay revenue streams for 10-year term from in-service date, for 55 97% of the operating capacity 200 9…
  25. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 25
    PROPANE EXPORT TERMINAL PROCESS Existing NGL Value Chain Western Canada Marine Terminal Propane export project would extend Pembina's NGL value chain participation 26
  26. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 26
    NEW POTENTIAL WEST COAST PROPANE TERMINAL Signed terminal agreement with the Port of Portland, Oregon to advance a propane export terminal Initially will plan to develop a 37,000 bpd propane export facility for expected capital of…
  27. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 27
    STORAGE POTENTIAL NGL SALT CAVERN STORAGE POTENTIAL ABOVE GROUND STORAGE POTENTIAL 2,000 40 Cavern development: 38 MM bbls 1.8 mmbbls At Redwater, 13 1,800 35 caverns in-service and 5 in 1,600 development 30 600 Significant…
  28. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 28
    CRUDE OIL MIDSTREAM Develop and provide ALBERTA terminal, hub & storage services to support the energy industry FORT 630,000 barrels of TAYLOR MCMURRAY above ground crude oil and condensate storage capacity, with…
  29. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 29
    SOLID BUSINESS PLATFORM Revenue generated from multiple service offerings Liquids capture and terminaling support growth for other Pembina businesses Interconnectivity increases options for customers Access to 5 diluent…
  30. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 30
    PEMBINA NEXUS TERMINAL Crude oil Dilbit Synthetic Crude Diluent Heavy Export Red indicates Pembina- owned existing and proposed pipelines and connections Dashed lines and/or grey text indicates proposed projects whereas…
  31. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 31
    STRONG FINANCIAL PLATFORM
  32. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 32
    LIQUIDITY & ACCESS TO CAPITAL Access capital at attractive rates DRIP(1) currently raising 26 million per month; raised Capital Structure(2) 286 million for full year 2013 1% 1.5 billion credit facility: currently completely…
  33. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 33
    DEBT METRICS Total Debt to EBITDA Funds from Operations / Total Debt 5.0x 35% 30% 4.0x 25% 3.0x 20% 2.0x 15% 10% 1.0x 5% 0.0x - 1 2010 2011 2012 2013 2010 2011 2012 1 2013 Total Debt / EBITDA Funds from Operations /…
  34. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 34
    CLEAN BALANCE SHEET 7.0x BBB 6.0x A- BBB(H) A- BBB BBB+ 5.0x Total Debt / 2013E EBITDA 4.0x NR BBB 3.0x Ba2 2.0x 1.0x 0.0x Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Total Debt / 2013E…
  35. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 35
    SUMMARY
  36. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 36
    SUMMARY Strategically located and well-established Highly contracted and stable cash flow infrastructure Fee-for-service focused capital program Extensive asset footprint with high barriers to entry Strong growth portfolio Assets…
  37. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 37
    GOING THE DISTANCE BOB MICHALESKI Chief Executive Officer MICK DILGER President & Chief Executive Officer MICK DILGER President & Chief Operating Officer PETER ROBERTSON Senior Vice President, Chief Financial Officer PETER ROBERTSON…
  38. CORPORATE PRESENTATION – Pembina Pipeline Corp – slide 38
    NON-GAAP AND ADDITIONAL GAAP MEASURES This presentation uses certain terms that are not defined by GAAP but are used by management of Pembina to evaluate Pembina's performance. Non-GAAP and additional GAAP financial measures do not have…

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