Midcoast Energy Partners, L.P. Stephen J. Neyland, Vice President, Finance NAPTP Annual Investor Conference May 20-22, 2015
Vision and Strategy VISION Be recognized as a leading natural gas and NGL midstream infrastructure developer, operator and service provider in North America SCALE SCOPE STRATEGY Provide best in class gathering, processing and…
Strong Sponsors and Management Leveraging Enbridge Inc. & Enbridge Energy Partners, L.P. ENB: North American leader in energy delivery Enbridge Inc. (ENB) A-/Baa1 45 billion equity market capitalization Enbridge Energy Partners,…
Strategically Positioned Asset Base Midcoast Business Segments Key Assets Gathering, Processing & Transportation: Natural Gas Deliveries 2.2 bcf/d strong asset foundation 90% EBITDA Gathering and Transportation Pipelines 11,100 miles…
Strategic Entry into Eaglebine Play Secured transactions establish strategic East Texas System foothold in the liquids-rich Eaglebine Midcoast to construct the Ghost Chili lateral Midcoast acquiring NGRs midstream assets 160 million…
Long-Term Transformation of Risk Profile Risk profile transforms as base business grows and new business is captured Demand volumes and revenue progressively ramping on Texas Express Re-contract and capture new business that enhances…
Executing on Strategic Priorities Strengthen underlying business Recontracted and captured new business that enhances cash flow certainty Executed plan to reduce operating & administrative costs by over 50 million proceeding ahead of…
Actions Underway to Navigate Current Market Conditions Average 2015 Forward Prices Challenging Market Conditions WTI Composite NGL BBL Composite NGL Barrel Price (/gal) WTI Average Forward Price (/Bbl) 100.00 0.95 0.87/gal…
Strong Sponsor Support EEP incentivized to invest alongside MEP Jointly fund on and off footprint growth Commitment to long-term drop-down strategy to enhance accretion at MEP Enhance MEP Cost of Equity Natural Gas Midstream -…
Key Takeaways Maintain positive momentum and focus on execution Solid 1Q performance and healthy coverage of 1.16x Fourth consecutive quarterly distribution increase (+11.2% vs 1Q14) Actions underway to strengthen underlying…