NGL Energy Partners Overview NGL is a diversified midstream MLP that provides multiple services to producers and end-users Transportation and marketing of crude oil Water Solutions Transportation and marketing of NGLs Vertical…
NGL KeyOperational Assumptions Investment Highlights 1,671% EBITDA growth from EBITDA of 24mm at IPO to 425mm Fiscal 2015 Successful Track 57% distribution per unit increase since IPO Record of Growth Growth has been combination of…
Diversified Across Multiple Businesses and Producing Basins NGLs operations are geographically and operationally diversified across four attractive sub segments Significant presence in the most economic oil and natural gas shale plays…
NGL Energy Partners Business Strategy Grow at attractive multiples through: Organic projects Acquisitions/Mergers Emphasis on repeatable fee-based cash flows Conservative capital structure with low leverage consistent with…
Focus on Stable and Consistently Growing Cash Flows Historical Annualized Distributions Distributable Cash Flow Distribution Coverage Analysis Actual Guidance FY 2013 FY 2015 (1) Adjusted EBITDA 183.5 425.0 Maintenance…
Integrated Midstream Solutions Service a stable base of customers with integrated midstream services across the value chain Crude Logistics Pipeline LACT Units Storage Wellhead Truck Terminal Refiner Pipeline Rail Barge Water…
Significant Operational Diversity NGL's Core Business Lines Crude Logistics Water Solutions NGL Liquids Retail Purchase and transport Treatment of oil and gas Transport, handle, store Distribute propane / crude oil from wellhead to…
Experienced ExperiencedManagement Team Management Team President and Chief Financial Officer of Energy Transfer Partners LP (NYSE: ETP) (2004 2007); former Director of Energy Transfer Michael Krimbill Equity, the General Partner of…
Business Segment Overview 11
Crude Logistics Segment Operations Area of Operation Purchases and transports crude oil for resale to a pipeline injection Bakken point, storage terminal, barge Shale loading facility, rail facility, refinery or trade hub…
Crude Logistics Asset Overview 7.7 MMbbls of storage in Cushing (3.6MMbbls leased) 5 Gulf Coast terminals with aggregate capacity of 850 Mbbls Port of Catoosa, Oklahoma - storage services; truck and rail trans-loading to barges with…
Water Treatment and Processing Industry Overview Oil and natural gas producers preserve cash for drilling by outsourcing the disposal and treatment of oilfield produced and flowback water (waste water) Water quality is measured by…
Water Treatment and Processing Operational Model Treatment and Disposal Company-owned disposal facilities provide producers affordable well-disposal of wastewater generated from oil and natural gas production and drilling activities…
Water Treatment and Processing Basin Characteristics Water Quality Geology Regulatory Environment Low permeability for disposal wells, State of Wyoming regulates air, water 200-400 bpd quality and pressure TDS 12,000 mg/L…
Water Solutions Overview Segment Operations Area of Operation Provides services for the treatment, processing, and disposal of wastewater Bakken generated from oil and natural gas Shale Marcellus production Shale Pinedale…
Water Solutions Regional Operations Anticline DJ Basin Eagle Ford Permian Treatment of oil and gas Leading provider of oil and Growing presence in one of Expansive footprint across waste-water for recycling, gas waste-water…
NGL Liquids Overview Area of Operation 19
NGL Liquids Terminals and Wholesale Supply & Marketing Segment Railcar Segment 22 terminals serving over 300 customers Transports and markets NGLs to and from refiners, 17 terminals with rail loading capability gas processors,…
Retail Propane Overview Segment Operations Area of Operation Sell propane and petroleum distillates to end-users consisting of residential, agricultural, commercial and industrial customers Geographic diversity mitigates weather…
Retail Propane What Sets Us Apart Operational focus on regions with the highest number of degree days North East, Upper Midwest and Pacific NW Geographic Focus In warmer weather, gross margins temporarily expand to recoup a portion of…
Key Takeaways Compelling investment opportunity with attractive combination of yield and growth Distribution growth of 15% for calendar 2014 and 10% thereafter 63% distribution per unit increase since IPO NGL total return 106%…
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