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MARCH 2010 INVESTOR UPDATE – Altagas Limited

Altagas Limited · Mar 8, 2010 · 13 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. MARCH 2010 INVESTOR UPDATE – Altagas Limited – slide 1
    Investor Update March 2010 2
  2. MARCH 2010 INVESTOR UPDATE – Altagas Limited – slide 2
    Forward-looking information y Certain information presented today may constitute forward- looking statements with respect to AltaGas Income Trust (the Trust). Such statements reflect the Trusts current expectations, estimates,…
  3. MARCH 2010 INVESTOR UPDATE – Altagas Limited – slide 3
    5 Growth through stable revenue sources Gas operating income ( millions) 2009 Gas Segment 120 110.3 net revenue 103.6 7% 100 9% 80 63.3 60.0 59.3 60 57% 27% 40 20 Fee-for-service Cost-of-service and take-or-pay 0…
  4. MARCH 2010 INVESTOR UPDATE – Altagas Limited – slide 4
    Gas outlook y Solid performance from extraction and transmission assets; hedged 50 percent of frac spread exposed NGLs at 21/Bbl y Increased producer activity and facility expansions boost processing volumes y Full-year…
  5. MARCH 2010 INVESTOR UPDATE – Altagas Limited – slide 5
    Revenue underpinned by hedging strategy Power operating income ( millions) 2009 Power Segment 120 117.9 net revenue 100 94.6 90.9 88.0 34% 80 60 48.7 40 66% 20 Hedged revenue 0 Unhedged revenue 2005 2006 2007* 2008…
  6. MARCH 2010 INVESTOR UPDATE – Altagas Limited – slide 6
    Projects in pipeline Run-of-river projects Wind projects Harmattan Co-Stream Gas processing projects Gas storage projects 12 2 billion of organic growth in next five years Run-of-river projects Wind projects…
  7. MARCH 2010 INVESTOR UPDATE – Altagas Limited – slide 7
    Gas focus y Grow extraction and processing volumes y Expand and diversify gas distribution business y Develop additional gas storage y Capitalize on energy value chain Power focus y Expand and grow power generating capacity…
  8. MARCH 2010 INVESTOR UPDATE – Altagas Limited – slide 8
    Expand and diversify natural gas distribution business y Stable, rate regulated revenues y Opportunities to grow: Expect rate base growth of approx. 20 percent in 2010 Business acquisitions Develop additional gas storage y…
  9. MARCH 2010 INVESTOR UPDATE – Altagas Limited – slide 9
    Wind projects Portfolio of 1,500 MW under development, including: y 70-MW Walker Ridge in Northern California y 100-MW Glen Ridge in Southeast Alberta y 91.5-MW Rough Rider in North Dakota Walker Ridge site Walker Ridge site Glen…
  10. MARCH 2010 INVESTOR UPDATE – Altagas Limited – slide 10
    As AltaGas grows, business risk decreases Now Future Unhedged commodity Hedged commodity Fee-for-service Rate regulated and cost-of-service y Adding low-risk, long-life infrastructure Utilities, renewable power,…
  11. MARCH 2010 INVESTOR UPDATE – Altagas Limited – slide 11
    Financing strategy Target Target Rationale description Efficient access to capital Credit rating BBB+ markets and counterparty support Leverage balanced to minimize 45-50% debt-to- Leverage cost of capital for AltaGas cap…
  12. MARCH 2010 INVESTOR UPDATE – Altagas Limited – slide 12
    Strong track record 300 250 200 ( millions) 150 100 50 0 2005 2006 2007 2008 2009 Net income Funds from operations EBITDA Distributions 23 Balanced portfolio of energy infrastructure assets 2009…
  13. MARCH 2010 INVESTOR UPDATE – Altagas Limited – slide 13
    Corporate conversion y Corporate structure in H2-2010 Expect to address conversion at annual meeting in early June y Focus on growth and income Expected annual dividend range: 1.10-1.40 per share Significant tax pools available y…

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