Regency Energy Partners LP RBC Capital Markets MLP Conference November 15, 2012
Key Investment Highlights Integrated midstream portfolio with high percentage of fee-based margins High-quality asset base strategically located in critical supply basins Significant organic growth platform driven by liquids and…
Integrated Midstream Platform Regencys diverse portfolio of services generates solid results while offering complete midstream services to producers Natural Gas Services Residue Gas Utilities Residential Natural Gas Natural…
Significant Organic Growth Opportunities Diversified asset portfolio is generating the strongest organic growth opportunities since our IPO Mississippian Shale Assets positioned in stable, Mississippi an mature play with potential…
Announced Growth Projects The majority of Regencys 1 billion of announced expansion projects is expected to come online in 2013; generating additional earnings and volume growth RGP Growth Capital Project Contract Type Estimated…
Gathering and Processing: NLA Continue to see an increase in processable Cotton Valley volumes due to new horizontal drilling techniques used by producers Dubach Expansion 75 million project will increase the processing capacity…
Gathering and Processing: West Texas New Ranch Joint Venture facilities will provide additional processing capacity for volume growth when operational later this year Ranch Joint Venture1 The JV includes construction of a 25…
Gathering and Processing: South Texas Volumes on the Eagle Ford Expansion Project grew 28% from the second quarter to the third quarter of 2012 Eagle Ford Expansion Project Approximately 490 million project to provide gas and…
Lone Star Expansion Plans Mont Belvieu Fractionator 1 Highlights Capacity (Bbls/d) 100,000 Contracting Status Fully Contracted Additional Y-grade liquids storage facilities to be developed Refinery Services West Texas Gateway…
Contract Compression Horsepower additions in liquids-rich plays are overcoming declines in dry gas regions Growth Opportunities Barnett/Haynesville Set first units in Utica Shale during the third quarter Over 60,000 horsepower…
Contract Treating Beginning to benefit from growth in wet-gas regions Growth Opportunities Fayetteville Made substantial progress toward expanding product line in the first nine months of 2012 Barnett Shale Completed design,…
Maintain Stable Cash Flows: Business Mix Goal is to maintain more than 80% fee-based margins Adjusted Total Segment Margin FY 2009 FY 2010 FY 2011 FY 2012E Fee Hedged Unhedged 6% 9% 3% 11% 9% 2% 21% 27% 71% 76% 83%…
Concluding Thoughts Integrated Midstream Strategic location of assets and diverse portfolio of services provide attractive options for producers Platform Fee-Based Cash Flows Diversity of cash flows reduces volatility and…
Appendix
Maintain Stable Cash Flows: DCF Sensitivities DCF Sensitivity to Commodity Price Changes - 2012 Change in WTI Price (/Bbl) Change in Natural Gas Price Decrease 10.00 Flat Increase 10.00 (/MMbtu) Decrease 1.00 (1.7)M…
Maintain Stable Cash Flows: Comprehensive Hedging Program Utilize a comprehensive hedging program to mitigate exposure C2 to C4 Equity Production vs. Hedged 5,000 4,000 Bbl/d 3,000 2,000 62% 84% 58% 55% 60% 4% 4% 4% 4% 1,000…
Non-GAAP Reconciliation For the Year Ended December 31, 2011 2010 (in thousands) Net cash flows provided by operating activities 253,755 169,207 Add (deduct): Depreciation and amortization, including debt issuance cost amortization…
Non-GAAP Reconciliation Nine Months Ended September 30, 2012 2011 2010 ( in thousands) Net cash flows provided by operating activities 180,925 204,416 127,903 Add (deduct): Depreciation and amortization, including debt issuance cost…
Non-GAAP Reconciliation Nine Months Ended September 30, 2012 2011 ( in thousands) Net income 56,773 59,991 Add (deduct): Operation and maintenance 121,248 105,506 General and administrative 47,106 54,010 Loss on asset sales, net…
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