GOING BEYOND Regency Energy Partners LP Fourth-Quarter & Full-Year 2011 Earnings Release February 16, 16 2012 www.regencyenergy.com
Significant Organic Growth Opportunities W Well positioned in key shale plays that are expected to require significant infrastructure development for the ll ii di k h l l h d i i ifi i f d l f h foreseeable future Growth…
FourthQuarter & FullYear Performance 4
2011 Performance Comparing the fourth quarter of 2011 to the fourth quarter of 2010, adjusted EBITDA increased approximately 13% Comparing full Comparing fullyear year 2011 to full 2011 to fullyear year 2010, adjusted EBITDA…
Gathering and Processing Segment Volumes increased approximately 19% from fullyear 2010 to fullyear 2011, primarily driven by growth in the Eagle Ford Shale and PermianDelaware Basin Gathering and Processing Throughput and…
Joint Ventures Segment Adjusted EBITDA for the Joint Ventures segment increased by 90 million from 123 million for fullyear 2010 to 213 million for fullyear 2011, primarily due to the acquisitions of the MEP Joint Venture and the…
Contract Compression Segment Revenue generating horsepower increased from 767,000 at December 31, 2010, to 777,000 at December 31, 2011 R Revenue Generating G ti H Horsepower 900 60 800 769 777 55 754 767 762 758 ng…
Contract Treating Segment Revenue generating gallons per minute increased from 3,431 at December 31, 2010, to 3,465 at December 31, 2011 Revenue Generating Gallons Per Minute (GPM) 3,600 20 3,431 3,468 3,465 3,368 18 3,400 3…
Diverse Portfolio Our target is for feebased margin to comprise over 80% of our adjusted segment margin 2010 Adjusted Segment Margin 2010 Adjusted Segment Margin 2011 Adjusted Segment Margin 2011 Adjusted Segment Margin 2012E Pro…
Commodity Price Risk Management DCF Sensitivity to Commodity Price Changes 2012 Change in WTI Price (/Bbl) Change in Natural Gas Price Decrease 10.00 Flat Increase 10.00 /MMbtu) Decrease 1.00 (7.6)M (3.2)M 1.3M Flat…
Liquidity Position Capitalization ( in millions) 12/31/2010 12/31/2011 Cash 9 1 Long-Term Debt Revolving Credit Facility 285 332 SSenior Notes Due 20166 6 256 255 Senior Notes Due 2018 600 600 Senior Notes Due 2021 - 500…
Q&A
Appendix
Commodity Price Risk Management We utilize a comprehensive hedging program to mitigate exposure NGL Equity Production vs. Hedged 5,000 4,000 Bbl/d 3,000 2 000 2,000 107% 1,000 77% 62% 58% 56% 12% - Q4 2011 Q1 2012 Q2 2012…
NonGAAP Reconciliation Three Months Ended December 31, 2011 September 30, 2011 June 30, 2011 March 31, 2011 ( in thousands) Net income (loss) 13,628 30,849 14,837 14,305 Add: Interest expense, net 28,926 28,852 24,689 20,007…
NonGAAP Reconciliation Three Months Ended December 31, 2010 September 30, 2010 June 30, 2010 March 31, 2010 ( in thousands) Net (loss) income (8,923) 7,846 (9,391) (450) Add: Interest expense, net 19,791 20,393 22,223 20,564…
NonGAAP Reconciliation Three Months Ended December 31, 2011 September 30, 2011 June 30, 2011 March 31, 2011 ( in thousands) Net income 13,628 30,849 14,837 14,305 Add (Deduct): Operation and maintenance 42,025 42 025 37,950 37 950…
NonGAAP Reconciliation Three Months Ended December 31, 2010 September 30, 2010 June 30, 2010 March 31, 2010 ( in thousands) Net (loss) income (8,923) 7,846 (9,391) (450) Add (Deduct): Operation and maintenance 33,100 34,306 29,717…
NonGAAP Reconciliation Three Months Ended December 31, 2011 ( in thousands) Net cash flows provided by operating activities 49,339 Add (deduct): Depreciation and amortization, including debt issuance cost amortization (47,551)…
Segment Details Three Months Ended December 31, 2011 2010 ( in thousands) Gathering and Processing Segment Financial data: Segment margin 64,452 52,915 Adjusted segment margin 63,901 59,731 Operating data: Throughput (MMbtu/d)…
Joint Ventures Segment The following provides key performance measures for 100% of the Haynesville Joint Venture Three Months Ended December 31,, 2011 2010 ( in thousands) Haynesville Joint Venture Financial data: g Segment…
Joint Ventures Segment The following provides key performance measures for 100% of the Lone Star Joint Venture Three Months Ended December 31, 2011 ( in thousands) Lone Star Joint Venture Financial data: Segment margin 66…
Joint Ventures Segment Th The ffollowing ll i provides id a reconciliation ili ti off N Non-GAAP GAAP to t GAAP measures for f 100% off th the Haynesville Joint Venture Three Months Ended December 31, 2011 2010 ( in…
Joint Ventures Segment The following provides a reconciliation of Non-GAAP to GAAP measures for 100% of the Lone Star Joint Venture Three Months Ended December 31,, 2011 ( in thousands) Net income - Lone Star Joint Venture…
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