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DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer

Energy Transfer · Sep 30, 2014 · 23 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. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 1
    ENERGY TRANSFER EQUITY Deutsche Bank 22nd Annual Leveraged Finance Conference September 30, 2014 Jamie Welch Group CFO
  2. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 2
    ENERGY TRANSFER FAMILY ENERGY TRANSFER EQUITY, L.P. (NYSE: ETE) General Partner / Parent Company 23.5% LP Interest, 50.16 million 9.0% LP Interest, 0.7% GP Interest, Class H Units (1) 1.0% GP Interest & IDRs & IDRs 30.8% LP…
  3. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 3
    CREDIT SUMMARY BY ENTITY Ratings Moody's S&P Fitch Rating Outlook Rating Outlook Rating Outlook ETE Corporate Rating Ba2 Stable BB Stable BB Stable Senior Secured Ba2 Stable BB Stable BB+ Stable ETP Senior Unsecured Baa3 Stable…
  4. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 4
    SIGNIFICANT FINANCIAL SCALE AND DIVERSIFICATION ACROSS THE FAMILY Enterprise Value of Approximately 100 billion Relative Unit Price Performance since Jan 1, 2013 Energy Transfer Equity, L.P. ETE ETP SXL RGP SUSP ETE: 168% (NYSE:…
  5. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 5
    BUSINESS OVERVIEW Energy Transfer Equity (ETE), a pure-play general partner (GP), is an MLP that receives all of its cash flow from limited partner interests, GP interests and incentive distribution rights (IDRs) in Energy Transfer…
  6. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 6
    THESE CHANGING MARKET DYNAMICS HAVE RESULTED IN A TRANSFORMATION OF OUR BUSINESS MODEL M&A, Organic Growth & Re-Purposing Assets Dry Gas Liquids Rich Natural Gas Midstream Transmission & Storage Gathering and Processing Interstate…
  7. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 7
    SHALE BASIN PRODUCTION GROWTH ALIGNED WITH ENERGY TRANSFER FAMILY OPERATING ASSETS Retail Locations Includes Distributers, Dealers, and Co-ops Energy Transfer Asset Overview Sunoco ETP Assets SXL Assets , RGP Assets , Susser…
  8. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 8
    UNIQUELY POSITIONED TO CAPITALIZE ON GROWING U.S. EXPORT STORY Asset base well-positioned to capture the changing supply and demand dynamics for condensates, natural gas, NGLs and LNG Canada Europe NGLs LNG Asia Natural…
  9. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 9
    KEY INVESTMENT HIGHLIGHTS ETEs cash flow comes from a highly diversified revenue stream supported by long-term, fee-based contracts from large scale, regulated operations ETP has six distinct business segments, each making meaningful…
  10. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 10
    TRANSFORMATION AND CONTINUED GROWTH ETP Adjusted Propane Midstream Intrastate Interstate NGL Retail Crude All other EBITDA by Operating 7% 13% Segment 15% 18% 20% 12% ( in millions) 14% 2009 LTM 10% 53% 1,477 4,303 27% 11% SXL…
  11. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 11
    ORGANIC DEVELOPMENT AND ACQUISITIONS DRIVE GROWTH RGP SXL ETP 1.20 Over 15 billion of Board approved new organic growth projects being executed 12
  12. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 12
    CONSISTENT AND GROWING DISTRIBUTIONS FROM STRONG, DIVERSIFIED OPERATING BUSINESSES ETE currently receives significant cash flow from Lake Charles LNG and through its LP, GP and IDR interests in ETP, RGP and SXL Lake Charles ( in…
  13. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 13
    ETE CREDIT SNAPSHOT As of 6/30/14, ETEs LTM Net Debt/EBITDA was 4.3x (GAAP Basis) No maturities in the next 3 years Weighted average interest rate is 5.2% Capital Structure Maturity Profile ( millions) ( millions) 06/30/14 Revolving…
  14. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 14
    LAKE CHARLES LNG (LC LNG) Liquefaction transforms LC LNG into a bi-directional facility capable of importing and exporting LNG - Lake Charles LNG Export Company LLC (LCE) , the liquefaction project in development, is currently owned…
  15. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 15
    LAKE CHARLES LNG ON TRACK FOR FINAL INVESTMENT DECISION IN MID-2015 Train 1 DOE FTA & non-FTA Approvals Definitive FID In-Service Pre-FEED & Feed Study Agreements mid-2019 FERC Pre-Filing & Application Preliminary Commercial Q3 14…
  16. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 16
    APPENDIX
  17. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 17
    NET IDR RELINQUISHMENTS TO ETP FROM ETE ( in millions) 2014 2015 2016 2017 2018 2019 Total Net IDR Relinquishments (124) (86) (107) (85) (80) (70) (552) Management Fees (95) (95) (5) (195) Total (219) (181) (112) (85) (80)…
  18. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 18
    NON-GAAP RECONCILIATIONS Trunkline LNG Company, LLC (MM) 2Q14 Revenues 53 Operating expenses (4) Selling, general and administrative expenses (2) Adjusted EBITDA attributable to Trunkline LNG 47 19
  19. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 19
    NON-GAAP RECONCILIATIONS Energy Transfer Partners, L.P. Twelve Months Ended December 31, (1) (1) (MM) 2009 2010 2011 2012 2013 2Q14 LTM Net income 791 617 697 1,648 768 581 1,003 Interest expense, net of interest capitalized 395 412…
  20. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 20
    NON-GAAP RECONCILIATIONS Energy Transfer Equity, L.P. (MM) Twelve Months Ended December 31, 2010 2011 2012 2013 2Q14 LTM (1) ETP GP distributions 396 441 459 522 125 476 ETP LP distributions 191 180 180 268 29 148 ETP…
  21. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 21
    NON-GAAP RECONCILIATIONS Sunoco Logistics Partners L.P. Twelve Months Ended December 31, (MM) 2009 2010 2011 2012 2013 2Q14 LTM Net Income 250 348 322 531 474 158 454 Interest expense, net 45 73 89 79 77 21 78 Depreciation and…
  22. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 22
    NON-GAAP RECONCILIATIONS Regency Energy Partners LP Thre e Months Ende d June 30, 2014 2013 ( in millions) Net (loss) income (4) 11 Add (deduct): Interest expense, net 78 41 Depreciation, depletion and amortization 168 68 Income…
  23. DEUTSCHE BANK CONFERENCE ANNUAL CONFERENCE – Energy Transfer – slide 23
    SUSP / SUN NON-GAAP PRO FORMA RECONCILIATION SUSP / SUN Proforma (1) Reconciliation of Non-GAAP Measures (M) 2Q14 Net income 28,602 Interest expense, net of interest capitalized 4,745 Income tax expense (benefit) from…

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