Regency g y Energy gy Partners LP Morgan Stanley MLP and Diversified Natural Gas Corporate Access Day March 16, 2010
2009 Highlights
2009 Highlights 2009 Goals Execution Achieved X Generated 205 million in adjusted EBITDA with X Achieve adjusted EBITDA guidance range four solid quarters of operating performance for y full-year 2009 X Construction completed under…
2009 Highlights: Haynesville Shale Expansions Haynesville Expansion Project1 Projects Completion Date / Description Announced Expected Completion Adds 1.1 Bcf/d of capacity with 46 miles of 36 pipe, 75 miles of 42 pipe and Base…
Business Review
Business Review: Quarter-Over-Quarter Performance f Demonstrated consistent performance across all four quarters of 2009 f Generated 420 million of combined adjusted total segment margin in 2009, with each of our three businesses…
Business Review: Transportation Segment Performance Combined transportation segment volumes were down quarter-over-quarter throughout 2009 due to a decline in volumes driven by reduced levels of Cotton Valley drilling and compressed…
Business Review: Transportation Segment Growth f Regencys Haynesville Expansion Project is the first material increase in capacity that has come online in the Haynesville Shale Haynesville Expansion Project: 653mm Red River…
Business Review: Gathering and Processing Segment Regencys gathering and processing operations are primarily located in Texas, Louisiana, Oklahoma and Kansas1 Mid-Continent East Texas Plants2 1 Plants 1 Gathering System 3,470…
Business Review: Gathering and Processing Segment Performance Despite a difficult commodity environment, including a steep decline in gas prices for the first three quarters of 2009, Regencys Gathering and Processing volumes and segment…
Business Review: Gathering and Processing Segment Growth f Regencys Logansport Expansions are expected to add an incremental 450-485 MMcf/d of gathering capacity, an incremental 435 MMcf/d of takeaway capacity and an incremental 300…
Business Review: Contract Compression Segment Core compression operations in Texas, Louisiana, Arkansas and Pennsylvania HP by Region, State Total HP of Units Gulf Coast 250,618 316 West 285,908 392 North 216,802 179 Total 753,328…
Business Review: Contract Compression Segment Performance Regencys Contract Compression business averaged approximately 99% run-time for full-year 2009, with overall horsepower declining only 3% in 2009 compared to 2008 despite a…
Financial Review
Financial Review: Majority Fee-Based Portfolio Since 2007, Regency has made a concerted effort to grow fee-based margins 71% of Regencys Adjusted Segment Margin in 2009 was attributable to stable, fee-based cash flows Only 5% of…
Financial Review: Commodity Price Risk Management f Regency believes that maintaining a strong hedging program enables us to more accurately project and maintain stable cash flows f We expect to execute additional hedges for 2011…
Financial Review: Commodity Price Risk Management In aggregate, 80% of NGLs, 84% of condensate and 85% of natural gas are hedged for 2010 34% of NGLs, 42% of condensate and 27% of natural gas are hedged for 2011 E Executed t…
Financial Review: Commodity Price Risk Management DCF Sensitivity to Commodity Price Changes - 2010 Change in WTI Price (/bbl) Change in Natural Gass ( in millions) Decrease 10.00 Flat Increase 10.00 e (/MMbtu) Decrease…
Financial Review: Liquidity Update f In 2009, Regency prudently managed its balance sheet by opportunistically accessing the capital markets to finance accretive growth projects using a combination of debt and equity Total…
Financial Review: Capital Spend for 2010 f Our anticipated 2010 organic growth capital expenditures of 167 million include: 137 million related to Gathering and Processing, of which 77 million relates to previously approved…
Q&A
Appendix
Non-GAAP Reconciliation Three Months Ended December 31, 2009 September 30, 2009 June 30, 2009 March 31, 2009 ( in thousands) Net (loss) income (3,347) (10,543) 5,955 148,424 Add (deduct): Interest expense, net 22,028 22,173 19,568…
Non-GAAP Reconciliation1 Three Months Ended December 31, 2009 September 30, 2009 June 30, 2009 March 31, 2009 ( in thousands) Adjusted Total Segment Margin 91,717 90,342 93,467 103,885 Adjusted Total Segment Margin for Haynesville…
Gathering and Processing Segment Three Months Ended December 31, 2009 September 30, 2009 June 30, 2009 March 31, 2009 ( in thousands) Gathering and Processing Segment Financial data (1)(2): Segment margin 54,828 59,501 57,507…
Combined Transportation Segment Three Months Ended December 31, 2009 September 30, 2009 June 30, 2009 March 31, 2009 ( in thousands) Transportation T t ti Segment S t Financial data: Segment margin - - 160 11,554 Operating…
Contract Compression Segment Three Months Ended December 31, 2009 September 30, 2009 June 30, 2009 March 31, 2009 ( in thousands) Contract Compression Segment Financial data: Segment margin 34,163 34,085 35,800 36,980 Operating…
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