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NAPTP MLP Investor Conference – Enterprise Products Partners LP

Enterprise Products Partners LP · May 21, 2015 · 35 slides

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Slides

  1. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 1
    ENTERPRISE PRODUCTS PARTNERS L.P. NAPTP MLP INVESTOR CONFERENCE May 2022, 2015 ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
  2. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 2
    ENTERPRISE PRODUCTS PARTNERS L.P. One of the largest integrated midstream energy companies Integrated system enables EPD to minimize impact of cyclical commodity swings Large supply aggregator and access to domestic and…
  3. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 3
    SIGNIFICANT INSIDER OWNERSHIP / DEEP BENCH Significant insider ownership EPCO and affiliates own 34.5% of L.P. units EPCO & Affiliates Supportive General Partner 100% Facilitated elimination of incentive General…
  4. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 4
    EPD TODAY: NATURAL GAS, NGLS, CRUDE OIL, REFINED PRODUCTS AND PETROCHEMICALS Asset Overview Connectivity Pipelines: 51,000 miles of natural gas, NGL, crude oil, refined Connected to U.S. major shale basins products and…
  5. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 5
    DIVERSIFIED SOURCES OF CASH FLOW BACKED BY FEEBASED BUSINESS MODEL (1) 5.3 Billion Gross Operating Margin 4 Year Growth Capital Allocation 20142017E For 12 months ended March 31, 2015 11.7 Billion (predominantly feebased) 15%…
  6. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 6
    INDICATIVE U.S. CRUDE AND CONDENSATE FORECASTS Based on 36 Month Forward Markets U.S. Crude and Condensate Sensitivities 12 12 April Case Annual Growth, MBPD Average 2014 to 2015 258 7075 11 11 2015 to…
  7. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 7
    INDICATIVE NGL PRODUCTION FORECASTS Based on 36 Month Forward Markets U.S. NGL Sensitivities 6,000 6,000 5,500 5,500 7075 5,000 5,000 6070 MBPD 4,500 4,500 5070 4,000 4,000 Jan15 High 3,500 3,500 Jan15 Base Apr15…
  8. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 8
    LOW GAS TO CRUDE SPREAD CONTINUING TO DRIVE U.S. NGL ADVANTAGE NYMEX Natural Gas Price as a % of Crude U.S. Ethane Crackers: Global Cost Advantage 70 Shale Gas Production Now Totals Asia Naphtha 50% of Total Gas Production 60…
  9. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 9
    U.S. ETHANE SUPPLY / DEMAND OUTLOOK MBPD 3,000 2,500 2,000 1,500 1,000 500 2014 2015 2016 2017 2018 2019 2020+ Production Range Existing Demand Conversions & Expansions New Builds Exports Potential Projects…
  10. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 10
    NORTHEAST PROPANE BALANCES (MBPD) Northeast has transitioned from a supply short to a seasonal supply long position Without an evacuation pipeline, propane is steeply discounted due to growing volumes evacuated by rail, which is…
  11. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 11
    PROPYLENE MARKET ENVIRONMENT 16 1,100 Propylene production from 15.2 14.7 ethylene crackers decreased by 14 1,000 5.8 billion pounds or 38% since 12.8 900 2006 due to decline in naphtha 12 11.4 800 and heavy NGL cracking 10.8…
  12. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 12
    SUCCESSFUL EXECUTION IN CONSTRUCTION OF CAPITAL PROJECTS Since 2009, completed 98 major capital projects totaling 15 billion of gross investment approximately 2% under budget 4% % Over / (Under) Budget 2% 2.6% 0% 1.0% 2.0%…
  13. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 13
    ATEX AND AEGIS ETHANE PIPELINES ATEX Pipeline 1,205mile, 16 and 20 pipeline Initial capacity 125 MBPD, expandable to 265 MBPD Connected to 4 NGL fractionators 15 year shiporpay commitments 150 ATEX C2 Contracted Volumes…
  14. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 14
    POTENTIAL MARCELLUS PROPANE TAKEAWAY PROJECT Only 150 miles separate TE Products and MAPL propane systems Linked systems would allow 4060 MBPD of Marcellus / Utica propane to access Midwest, Conway and Mont Belvieu markets…
  15. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 15
    EAGLE FORD JV PROJECT EXPANSION TO HANDLE CONDENSATE / PROCESSED CONDENSATE EPD and Plains JV will construct a new condensate gathering system 55 miles connecting surrounding counties to Three Rivers Terminal Marshall Expand…
  16. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 16
    MIDLAND TO HOUSTON CRUDE OIL PIPELINE 400mile, 24 pipeline from Oklahoma Cushing Midland to Sealy, Texas Initial capacity: 300 MBPD; expandable to 540 MBPD Supported by longterm agreements Lynch Hobbs Expected inservice: 2Q…
  17. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 17
    ECHO: UNPARALLELED CONNECTIVITY FOR CRUDE OIL AND CONDENSATE Moore Road From Cushing 36/24/24 EPD Houston Ship Channel 24 Galena Park Sealy 30 Baytown 24 24 45 draft XOM VLO H.R. PRSI Shell Beaumont Katy 24 Rancho…
  18. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 18
    EXPANSION OF PERMIAN ASSET FOOTPRINT Existing Assets 2 gas gathering systems: 1,500 miles of pipe 3 gas processing plants: 350 MMcf/d capacity 75 MBPD of NGL fractionation capacity at Hobbs 2.1 MMBbls of NGL cavern storage 950…
  19. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 19
    EPD HOUSTON SHIP CHANNEL TERMINAL A Recent Addition Houston Ship Channel Terminal Over 20 MMBbls storage with 3.1 MMBbls under construction Room to grow by more than 5 MMBbls on 58 acre Port of Houston lease Ship dock 1A and…
  20. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 20
    U.S. BECOMES LARGEST EXPORTER OF PROPANE Propane Exports from EPD Facilities as of March 2015 2015 Propane Exports from EPD Facilities by Destination Region: 22 MMBbls % of Cargoes Loaded % of Destination Market North America 24%…
  21. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 21
    ENTERPRISE LPG PROJECTS: EXPANDING THE PREMIERE U.S. LPG EXPORT FACILITY 16,500 BPH, using two dedicated pipes from Mont Belvieu (9.0 MMBbls/month) Upon completion of the expansion: New 30 pipeline from Mont Belvieu Maximum…
  22. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 22
    ETHANE EXPORT FACILITY: MORGANS POINT ON HOUSTON SHIP CHANNEL New ethane export Shipbuilders Response to Increased Ethane Demand facility with a combined Estimated Ethane / Ethylene Vessel Capacity (1) 14 operating rate of 50 12…
  23. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 23
    ENTERPRISE PDH FACILITY New PDH facility will produce up to 1.65 billion pounds per year of polymer grade propylene or 25 MBPD Consume 35 MBPD of propane 100% of capacity contracted under feebased contracts with investment…
  24. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 24
    SOLID OPERATING PERFORMANCE 5.3 5.3 Liquids Pipeline Volumes 5.2 Equity NGL Production & Feebased Processing 5.0 134 140 126 4.8 5 4.8 116 4.4 116 Feebased Processing 120 4.8 Equity NGL Production 4.5 101 Million…
  25. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 25
    STRONG FINANCIAL RESULTS Gross Operating Margin 4.5 Distributable Cash Flow (DCF) (1) 5.3 4.1 4.1 5.0 4.8 3.8 3.8 4.4 3.9 3.9 3.5 3.9 4.0 3.7 Billions Billions 3.0 2.5 3.0 2.8 2.0 1.3 1.5 1.0 1.0 0.0 0.5 2011…
  26. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 26
    HISTORY OF FINANCIAL DISCIPLINE WHILE EXECUTING GROWTH STRATEGY Total Growth Capex & Debt Leverage Retained 1.4 billion of DCF 8.0 7.8 in 2014; 0.3 billion in 1Q 4.6 4.7x 2015 to reinvest in the 7.0 partnership 4.5x 6.0…
  27. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 27
    (1) STRENGTHENING DEBT PORTFOLIO Extending Maturities Without Increasing Costs 18.4 Billion Notes Issued 96.6% Fixed Rate Debt 15 2009 2015 14.7 14.1 7.5% 13 13.3 Average Maturity Years 10.3% 12.4 Cost of Debt…
  28. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 28
    APPENDIX ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
  29. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 29
    THE CHEMICALS INDUSTRY IS ALSO MAKING VERY LARGE BETS ON U.S. SHALES American Chemistry Council (ACC) is tracking 225 U.S. chemical projects valued at 137 billion. They estimate that 60% of these new investments are from foreign…
  30. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 30
    VISIBILITY TO GROWTH: MAJOR CAPITAL PROJECTS 4.4B InService 2014 / 1Q 2015; 7.4B Under Construction In Service Date 2014 1Q2015 2Q2015 3Q2015 4Q2015 2016/2017 NGL Pipeline & Services Mid-America NGL pipeline expansion Rocky Mountain…
  31. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 31
    NONGAAP RECONCILIATIONS ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
  32. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 32
    GROSS OPERATING MARGIN We evaluate segment performance based on the nonGAAP financial measure of gross operating margin. Gross operating margin (either in total or by individual segment) is an important performance measure of the core…
  33. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 33
    ADJUSTED EBITDA Adjusted EBITDA is commonly used as a supplemental financial measure by our management and external users of our financial statements, such as investors, commercial banks, research analysts and ratings agencies to…
  34. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 34
    DISTRIBUTABLE CASH FLOW Distributable cash flow is an important nonGAAP financial measure for our limited partners since it serves as an indicator of our success in providing a cash return on investment. Specifically, this financial…
  35. NAPTP MLP Investor Conference – Enterprise Products Partners LP – slide 35
    CONTACT INFORMATION Randy Burkhalter Vice President, Investor Relations (713) 3816812 rburkhaltereprod.com Jackie Richert Senior Manager, Investor Relations (713) 3813920 jmricherteprod.com ALL RIGHTS RESERVED. ENTERPRISE…

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