Crestwood Midstream Partners LP Jefferies Global Energy Conference November 13, 2013
Growth Oriented Partnership Structure The combined partnerships operate diverse midstream businesses with two valuable equity currencies to fund growth objectives Consolidation of Crestwood Holdings and NRGY First Reserve/Crestwood…
Diversified US Midstream Portfolio Asset Summary (1) Existing platform in every premier shale play Natural Gas 1.3 Bcf/d natural gas transportation capacity in North America creates significant opportunity for 2.1+ Bcf/d gathering…
Expanding Value Chain Services Fully integrated midstream service provider positioned to compete across the midstream value chain Offer customers a more comprehensive and competitive suite of services Capture incremental fee…
Linking New Shale Supply to Demand Significant commercial and operating synergy by linking natural gas, NGL and crude oil supplies with demand-side assets, services and relationships Supply Demand 6
Crestwood Strategic Objectives Pursue liquids-driven strategy around existing asset platform and geographic footprint to deliver promised growth objectives; success will be primarily driven by execution Execution & Integration &…
Execution Around Our Existing Portfolio Current asset platform is sufficient to achieve our growth objectives. 1.1 billion backlog of contracted and identified organic capital opportunities drive growth Marcellus / Utica Shale, Bakken…
Marcellus Shale Growing Gathering and Compression System Growing rich gas gathering and compression assets in the core Southwest portion of the Marcellus Acquired Antero Resources gathering assets in March 2012 and Enerven compression…
Antero is the Most Active Driller in the Marcellus Shale 2,900 well inventory of future Marcellus Shale drilling locations from Antero Source: Antero Resources Company Overview Presentation September 2013 10
Bakken Shale a Core Area for Future Growth Capital allocation to the core of the core of the most prolific liquids-rich and crude oil plays Positioning to be a full value chain midstream Original Oil in Place services provider for…
Arrow Midstream System Overview 750 mm accretive Arrow Midstream acquisition closed November 8, 2013 Asset Description Asset Map Located on the Fort Berthold Reservation in Dunn and McKenzie counties, North Dakota 460 miles of…
Integrating the Bakken Footprint Arrows CDP is a strategic liquidity hub south of the Missouri river, which complements CMLPs existing COLT Hub Synergy Potential Arrow system is located approximately 60 miles southeast of CMLPs COLT…
PRB Niobrara Shale 3Q 2013 Acquisitions Add to Rich Gas Growth Potential Integrated gathering, processing NGL pipeline and rail potential In the Powder River Basin (PRB) Acquired 50% interest in Jackalope Gas Gathering System CHK/RKI…
Niobrara Shale - Strong Producer Economics Accelerates Supply Growth Jackalope Area (Converse County, WY) Development Activity 9 CHK operated rigs active within Jackalope AMI (deep Niobrara and Turner rich gas targets) 3 RKI operated…
Past Performance Drives Growth Expectations (MMs) 350 Historical Adjusted EBITDA (1) CMLP Combined Legacy CMLP and Legacy NRGM 300 have generated 91% growth in Adjusted EBITDA since 2010 250 152 1.1 billion backlog of contracted…
Key Investor Highlights Positioning Crestwood for long-term visibility to growth to create unitholder value Liquids-focused strategy benefits from robust long-term macro fundamentals High quality asset base sufficient to drive long-…
Appendix 18
Legacy Crestwood Midstream Partners LP Non-GAAP Reconciliations Year Ended December 31, LTM 2010 2011 2012 9/30/2013 (in MMs) (audited) (audited) (audited) (unaudited) Net income 34.9 45.0 38.9 28.1 Depreciation and amortization…
Legacy Inergy Midstream, L.P. Non-GAAP Reconciliations FYE Sept. 30 LTM (1) (1) 2010 2011 2012 9/30/2013 (in MMs) (audited) (audited) (audited) (unaudited) Net income 43.2 53.5 65.7 7.7 Depreciation and amortization 42.4 43.9…
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