SPECTRA ENERGY CORP SPECTRA ENERGY PARTNERS Second Quarter 2013 Earnings Review & Investor Update August 6, 2013
Safe Harbor Statement Some of the statements in this document concerning future company performance by Spectra Energy and Spectra Energy Partners will be forward- looking within the meanings of the securities laws. Actual results may…
2Q13 Spectra Energy Results YTD YTD Ongoing Earnings per Share (MM) 2Q13 2Q12 2Q13 2Q12 U.S. Transmission 248 237 514 508 0.33 Distribution 65 75 233 226 0.30 W. Canada Trans. & Processing 74 94 185 232 Field Services 46 66 134…
2Q13 Spectra Energy Partners Results YTD YTD 2Q13 2Q12 2Q13 2Q12 Cash available for distribution (MM) 55.6 53.1 128.5 119.3 Net Income (MM) 49.3 46.9 105.2 99.3 Declared distribution (per LP unit) 0.50875 0.485 1.01 0.965 Solid…
Transaction Overview Spectra Energy will drop down to its MLP, Spectra Energy Partners: all remaining U.S. Transmission & Storage assets all remaining Liquids assets (Express-Platte, 1/3rd interests in Sand Hills & Southern Hills)…
Spectra Energy Partners: Pro Forma Financial Profile Spectra Energy Partners: SEP Distributions as Paid (/unit) 2014e EBITDA: 1.48 billion 2.50 2014e maintenance capex: 300 million 2.25 2.41 2014e interest expense: 250 million…
Spectra Energy: Pro Forma Financial Profile Spectra Energy: GP Distribution(1) Growth (MM) 250 84%, including 2% GP interest Ownership in SEP on closing: 240 million LP units 225 200 6 million GP units 2015e GP…
Spectra Energy Pro Forma Segment Overview New structure maintains Spectra Energys significant scale, geographic reach and portfolio diversity 2013e 1,345 580 615 580 EBITDA* (UST only) (MM) SEP Distribution W. Canada Field…
Transaction Strategic Rationale & Benefits Maintains SEs Increases financial Creates two strong significant scale, and flexibility of both pro forma entities diversity of cash flow SE and SEP and earnings Accelerates…
Momentum Driven by Growth Projects Secured 3 Billion of growth projects since 1Q13 considerable progress toward 25+Billion in diverse opportunities by the end of the decade 28 25+B Union Gas 26 Gulf Coast 24 markets On the DCP…
FP&Ls Florida Pipeline Project Sabal Trail Transmission Texas Eastern Selected by FP&L in a highly competitive RFP process Sabal Trail Major natural gas pipeline to fuel Transmission growth in the Southeast 465-mile, 1 Bcf/d,…
Ohio Pipeline Energy Network OPEN Project Linking emerging supplies from the Utica and Marcellus shales to markets from the Northeast to the Gulf Coast region 73 mile greenfield pipeline in Ohio, connecting to Texas Eastern…
Algonquin Incremental Market Expansion AIM Project Moving Marcellus supplies along the Algonquin system to constrained, high demand New England market Expansion of existing system with added take up, relay and horsepower…
Progress on Projects in Advanced Development BC- LNG Front-end engineering and design phase W. Canada G&P Ongoing Montney growth; longer term, LNG exports drive G&P growth Express-Platte Binding Open Season for the Express…
Enhancing Value for SE & SEP Investors Our Value Proposition continues to create value for SE & SEP investors: Solid base businesses 42B SE Enterprise Value Premier asset footprint provides competitive advantage & springboard to…
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