GOING BEYOND Regency Energy Partners LP First Quarter Earnings Release May 5 5, 2011
Fundamentals: Drilling Activity Total U.S. land rig count increased 32% from Q1 2010 to Q1 2011 Largest increases occurred in the Permian Basin in west Texas and the Granite Wash in Midcontinent U.S. Drilling Rig Trends 400 Rig…
Fundamentals: Commodity Prices May NYMEX contract settled at 4.38 per MMbtu1 WTI crude climbed to over 113 per barrel during the first quarter of 2011 Gas Price Trends Crude/NGL Price Trends 100.00 6.00 80.00 5.00 60.00…
First Quarter Performance 5
First Quarter Performance Regencys first quarter performance was in line with internal projections Comparing first quarter 2011 to first quarter 2010, adjusted EBITDA increased 49% Pro Rata Adjusted EBITDA1 130 110 102 90…
Business Review 7
Gathering and Processing Segment The decrease in segment margin from Q1 2010 to Q1 2011 is primarily attributable to lower realized commodity prices Gathering and Processing Throughput and Adjusted Segment Margin1 1,050 1,030…
Joint Ventures Segment Regencys Adjusted EBITDA from Joint Ventures increased to 44 million for Q1 2011, compared to 11 million for Q1 2010, primarily due to the acquisition of the MEP Joint Venture in May 2010 Joint Ventures…
Contract Compression & Contract Treating Segments Regencys revenue generating horsepower has increased for five consecutive quarters and increased 12% from Q1 2010 to Q1 2011 Contract Compression 900 60 Revenue Generatiing…
Financial Review
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 78% 56% 82% 79% 33% 2,000 73% 67% 11% 1 000 1,000 - Q1 2011 Q2 2011 Q3…
Commodity Price Risk Management DCF Sensitivity to Commodity Price Changes 2011 Change in WTI Price (/Bbl) Change in Natural Gas Price Decrease 10.00 Flat Increase 10.00 /MMbtu) Decrease 1.00 (1.7)M (0.5)M 0.7M Flat…
Diverse Portfolio Our target is to achieve and retain over 80% of feebased adjusted segment margin 2009 Adjusted Segment Margin 2009 Adjusted Segment Margin 2010 Adjusted Segment Margin 2010 Adjusted Segment Margin 2011E Pro Forma…
Liquidity Position The 578 million purchase price for our portion of the Lone Star Joint Venture was funded by a combination of revolver debt and private placement of equity Capitalization Pro Forma ( in millions) 12/31/2010…
Q&A
Appendix
NonGAAP Reconciliation Three Months Ended March 31, 2011 December 31, 2010 September 30, 2010 June 30, 2010 March 31, 2010 ( in thousands) Net income (loss) 14,305 (8,923) 7,846 (9,391) (450) Add (deduct): Interest expense, net…
NonGAAP Reconciliation Three Months Ended March 31, 2011 December 31, 2010 September 30, 2010 June 30, 2010 * March 31, 2010 * ( in thousands) Net income (loss) 14,305 (8,923) 7,846 (9,391) (450) Add (Deduct): Operation and…
NonGAAP Reconciliation Three Months Ended March 31, 2011 ( in thousands) Net cash flows provided by operating activities 57,366 Add (deduct): Depreciation and amortization, including debt issuance cost amortization (41,649)…
Gathering & Processing Segment Three Months Ended March 31, 2011 2010 ( in thousands) Gathering and Processing Segment Financial data: Segment margin (1) 53,800 50,802 Adjusted segment margin (1) 52,085 54,608 Operating data:…
Contract Compression Segment Three Months Ended March 31, 2011 2010 ( in thousands) Contract Compression Segment (1) Financial data: Segment margin 41,440 37,030 Operating data: Revenue generating horsepower 848,026 759,704…
Contract Treating Segment Three Months Ended March 31, 2011 2010 ( in thousands) Contract Treating Segment Financial data: Segment margin 7,251 - Operating data: Revenue generating GPM 3,268 - 24
Joint Ventures Segment The following provides key performance measures for 100% of the Haynesville Joint Venture Three Months Ended March 31, 2011 2010 ( in thousands) Joint Ventures Segment Financial data: Segment margin 47,472…
Joint Ventures Segment The ffollowing Th 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 March 31, 2011 2010 ( in thousands)…
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