Master Limited Partnership Investor Conference March 2007
Regency Energy Partners Overview 2
Regencys Role in the Industry Midstream natural gas company offering comprehensive services from wellhead to market Markets Transmission Lines Gathering, Dehydration, Marketable and Compression NGL Mixed NGLs Products…
Regencys Formation and History September 2006 December 2004 February 2006 Completed private HM Capital Partners Completed initial public equity placement acquired Regency for 405 offering, with an totaling 60 million million and…
Regency Overview Simplified Organizational Chart Key Metrics Capitalization as of 2/9/2007 HM Capital Investors Public Unitholders 9,127,085 Common Units Private Investors 15,656,500 Common Units2 Market Capitalization (bn) 3 1.2…
Strategically Located Platform of Assets Regencys core operations are located in the key natural gas producing basins of Texas, Louisiana, Kansas and Oklahoma Mid-Continent: Hugoton/Anadarko Basin North Louisiana: TX-LA-MS Salt…
Regency Operating Structure Operations divided into Gathering & Processing Segment and Transportation Segment Adjusted Segment Margin Contribution2 Gathering & Processing Segment X Approximately 4,400 miles of gathering pipelines 27.7%…
Experienced & Incentivized Management Regencys executives have an average of over 25 years of industry experience X Employees own 7.4% of the Limited Partner units and management owns 8.7% of the General Partner Name Title Years James…
Transportation Segment Connecting constrained supply to premium markets Louisiana Basis Differential 1 Centerpoint Market Nat Gas Price/MMBtu 2005: 7.80 2006: 6.01 WASKOM ADA FIELD FIELD Columbia Gulf Market SLIGO VERNON…
Gathering and Processing Segment Providing integrated services across five geographic areas in the United States X Regencys gathering and processing segment operates in LA, TX and the mid- continent region X Gathering and processing…
Gathering and Processing Segment North Louisiana System Map Operating Statistics Plants 1 5 Gathering System Length (Miles) 600 Compression (hp) Pipeline 24,255 Plant 14,417 DUBBERLY PLANT Throughput (MMcf/d) Pipeline…
Gathering and Processing Segment East Texas System Map Operating Statistics Plants 1 1 Gathering System Length (Miles) 371 Compression (hp) Pipeline 9,064 Plant 14,531 Throughput (MMcf/d) Pipeline 150 Plant1 65 Note:…
Gathering and Processing Segment South Texas System Map Operating Statistics Plants 2 Gathering System Length 1,047 (Miles) Compression (hp) Pipeline 14,652 Plant 2,400 Throughput (MMcf/d) Pipeline 800 Plant 110 X…
Gathering and Processing Segment West Texas System Map Operating Statistics Plants 1 Gathering System Length (Miles) 750 Compression (hp) Pipeline 32,296 Plant 8,536 Throughput (MMcf/d) Pipeline 200 Plant 125 X…
Gathering and Processing Segment MidContinent System Map Operating Statistics Plant 1 2 Gathering System Length (Miles) 1,600 Compression (hp) Pipeline 39,877 Plant 3,200 Throughput (MMcf/d) Pipeline 265 Plant1 55…
Key Financial Highlights
Attractive Cash Flow Characteristics Favorable contract mix and structure X 74% of Regencys 2006 volumetric 2006 Pro Forma Volumetric Contracted Mix1 contract mix is fee-based Keep- Fees earned are volume driven Whole and typically…
Commodity Risk Management As a result of Regencys portfolio of contracts, the Company is a net seller of NGLs, condensate, and natural gas X Regency actively manages its commodity price exposure via an integrated strategy, including:…
Unit Price Performance Since IPO (through 2/27/07) Regencys total annualized return for 2006 was 46.1% 31.00 29.00 27.00 25.00 23.00 21.00 19.00 17.00 15.00 10/3/06 11/3/06 12/3/06 2/3/06…
Master Limited Partnership Investor Conference March 2007