GOING BEYOND Regency Energy Partners LP Third Quarter Earnings Release November 3, 2011 www.regencyenergy.com
ThirdQuarter Highlights Key Highlights Increased adjusted EBITDA by 25% over the third quarter of 2011 Completed public offering of 11.5 million of common units in October, raising approximately 230 million of proceeds…
Regency South Texas Expansion Plans Eagle Ford Expansion Key Highlights Miles of Gathering Pipeline 400 Compression (HP) 125,000 Gas and Condensate Terminals 4 Other South Texas Expansion Capacity Activity Incremental…
Growth Project Update Lone Star Mont Belvieu Fractionator 100,000 Bbl/d NGL fractionator to be constructed at Mont Belvieu Additional Y-grade liquids storage facilities to be developed A substantial amount of the fractionation…
ThirdQuarter Performance 6
ThirdQuarter Performance Comparing the third quarter of 2011 to the third quarter of 2010, adjusted EBITDA increased approximately 25% Adjusted EBITDA1 120 112 102 103 100 92 90 80 74 in millions 62 60 40…
Gathering and Processing Segment Volumes increased approximately 36% from the third quarter of 2010 to the third quarter of 2011, primarily driven by growth in the south Texas and west Texas regions Gathering and Processing…
Joint Ventures Segment Joint Ventures adjusted EBITDA increased to 56 million for the third quarter of 2011, compared to 25 million for the third quarter of 2010, primarily due to the acquisition of the Lone Star Joint Venture…
Contract Treating Segment For the third quarter of 2011, segment margin for the Contract Treating segment was 7 million As of September 30, 2011, the Contract Treating segments revenue generating GPM was 3,468 Revenue Generating…
Diverse Portfolio Our target is to maintain over 80% of feebased adjusted segment margin 2009 Adjusted Segment Margin 2010 Adjusted Segment Margin 2011E Adjusted Segment Margin 2% 3% 7% 21% 11% 27% 71% 76% 82%…
Liquidity Position In October 2011, Regency completed a public offering of 11.5 million of common units, raising approximately 230 million to refinance revolver borrowings Capitalization Pro Forma for ( in millions) 6/30/2011…
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 93% 91% 2,000 77% 62% 1,000 49% 25% 13% - Q3 2011 Q4 2011 Q1 2012…
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 (1.6)M (0.8)M 0 Flat…
NonGAAP Reconciliation Three Months Ended September 30, 2011 June 30, 2011 March 31, 2011 December 31, 2010 September 30, 2010 June 30, 2010 March 31, 2010 ( in thousands) Net income (loss) 30,849 14,837 14,305 (8,923) 7,846 (9,391)…
NonGAAP Reconciliation Three Months Ended (2) (1) (2) (1) (2) September 30, 2011 June 30, 2011 March 31, 2011 December 31, 2010 September 30, 2010 June 30, 2010 March 31, 2010 ( in thousands) Net income (loss) 30,849 14,837 14,305…
NonGAAP Reconciliation Three Months Ended September 30, 2011 ( in thousands) Net cash flows provided by operating activities 83,302 Add (deduct): Depreciation and amortization, including debt issuance cost amortization and bond…
Gathering & Processing Segment Three Months Ended September 30, 2011 2010 ( in thousands) Gathering and Processing Segment Financial data: Segment margin 64,716 42,723 Adjusted segment margin 64,890 56,690 Operating data:…
Contract Compression Segment Three Months Ended September 30, 2011 2010 ( in thousands) Contract Compression Segment Financial data: Segment margin - Gross 37,957 38,509 Less: Inter-segment elimination (3,341) (5,869) Segment…
Joint Ventures Segment The following provides key performance measures for 100% of the Haynesville Joint Venture Three Months Ended September 30, 2011 2010 ( in thousands) Haynesville Joint Venture Financial data: Segment margin…
Joint Ventures Segment The following provides key performance measures for 100% of the Lone Star Joint Venture Three Months Ended September 30, 2011 ( in thousands) Lone Star Joint Venture Financial data: Segment margin…
Joint Ventures Segment The following provides a reconciliation of Non-GAAP to GAAP measures for 100% of the Haynesville Joint Venture Three Months Ended September 30, 2011 2010 Haynesville Joint Venture ( in thousands) Net income…
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 September 30, 2011 Lone Star Joint Venture ( in thousands) Net income…
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