RBC Capital Markets MLP Conference Partnership Overview November 15, 2007 Dallas, Texas
Forward Looking Statements Some of the statements in this presentation concerning future performance will be forward- looking within the meanings of the securities laws. Forward-looking statements are not guarantees of future…
SEP Representatives Name Position Background Greg Harper President & Chief Executive 20 year Spectra Energy veteran Officer 1 year as GVP responsible for Spectra Energy spinoff 3 years as GVP of Duke Energy North America commercial…
SEP Management Team Name Position Martha B. Wyrsch Chairman of the SEP Board C. Gregory Harper President, Chief Executive Officer & Director Lon C. Mitchell, Jr. Vice President & Chief Financial Officer Spectra Energy Partners…
SEP Board of Directors Name GP Board Position Affiliation Martha B. Wyrsch Chairman of the Board President and CEO, Spectra Energy Transmission C. Gregory Harper Director President and CEO of SEP William S. Garner, Jr. Director…
Key Investment Highlights Elements of SEPs Compelling Investment Profile Portfolio Strategically Positioned Attractive Assets Provides Stable Cash Flows Growth-Oriented Business Strategies Visible Growth from Identified Organic…
Asset Portfolio East Tennessee Natural Gas Gulfstream Natural Gas Market Hub Partners (100%) (24.5%) (50%) 1,400 mile interstate natural 690 mile interstate natural 2 high deliverability salt cavern gas pipeline gas pipeline storage…
East Tennessee Natural Gas The Partnerships Cornerstone Asset Managed on a fully-integrated basis with Mid lf n Gu ter wes WV as bia Spectra Energys U.S. pipeline and storage sE IL tern lum IN…
Gulfstream Natural Gas System Key Growth Vehicle for the Partnership State-of-the-art interstate natural gas Cypress So pp r Su ade uth ly Pipeline He transmission system AL GA ea Project st MS Florida Gas…
Market Hub Partners Strategically Located Storage Facilities Two high deliverability salt cavern natural gas Growin g On Supply shore L LA MS g i ts n NE storage facilities row arke G M Aggregate working gas storage capacity…
Financial Objectives/Highlights/Performance SEP Maintaining a Strong and Flexible Financial Position Maintain stable and increasing distributable cash flows Maintain strong balance sheet Objectives Provide flexibility for…
Third Quarter Financial Results Ongoing Net Income of 23.8 million Cash Available for Distribution of 37.1 million On track for S-1 estimate of 85 million for the first 12 months Strong results in our initial quarter…
Earnings Summary Three Months Ended ( millions) September 30, 2007 2006 Operating Revenues 23.8 18.6 Operating Expenses 14.8 12.5 Operating Income 9.0 6.1 Equity earnings in Gulfstream our 24.5% 9.9 5.0 Equity earnings in…
Cash Available for Distribution ( millions) Three Months Ended September 30, 2007 Adjusted EBITDA 16.6 Cash Available from Gulfstream - Our 24.5% 14.0 Cash Available from MHP - Our 50% 9.7 Less: Cash Interest Expense (net)…
Minimum Cash Flow for Distributions ( in millions, except per unit data) Twelve months ending June 30, 2008 Net Income 72.4 Add: Depreciation and amortization 21.5 Interest expense 26.9 Less: Equity in earnings from Gulfstream…
Questions and Answers Key Investment Highlights Attractive Assets st ea rth No & es itim Growth Opportunities ar M ui n o nq Alg Strong Sponsorship Experienced Management Roanoke Knoxville Financial…
Loading...
