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May 2015 Corporate Presentation – Keyera Corp.

Keyera Corp. · May 21, 2015 · 39 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. May 2015 Corporate Presentation – Keyera Corp. – slide 1
    Corporate Profile May 2015
  2. May 2015 Corporate Presentation – Keyera Corp. – slide 2
    Who Is Keyera Key service provider to oil and gas producers in western Canada Facilities well situated to capture decades- long energy resources History of growth in cash flow per share Track record of efficient capital allocation…
  3. May 2015 Corporate Presentation – Keyera Corp. – slide 3
    Keyeras Vision To be the North American Leader in Delivering Midstream Energy Solutions How will this be achieved By leveraging our strong market position in the natural gas, natural gas liquids, and oil sands sectors By continuing…
  4. May 2015 Corporate Presentation – Keyera Corp. – slide 4
    Excellent Track Record of Financial Performance Per Share (split-adj.) Historical Financial Results Payout Ratio 2.50 100% 2.00 90% 80% 70% 14% CAGR in distributable cash flow 1.50 60% per share2,4 50% 1.00 40% 0.50 30%…
  5. May 2015 Corporate Presentation – Keyera Corp. – slide 5
    Industry Fundamentals Driving Keyeras Growth 3Assuming timely receipt of approvals and no construction delays Infrastructure Required to Meet Growing Oil and Gas Production 6
  6. May 2015 Corporate Presentation – Keyera Corp. – slide 6
    Recently Completed Growth Projects Completed Projects In-Service Date Capital Cost1 (Net, in Millions) Twin Rivers Pipelines (Phases I & II) April 2015 75 Simonette Gas Plant Expansion (Condensate Stabilizer & Refrigeration Unit)…
  7. May 2015 Corporate Presentation – Keyera Corp. – slide 7
    Growth Projects Currently Under Development Approved Projects Capital Cost 2014 2015 2016 2017 (Net, in Millions)1 Rimbey Turbo Expander & Debottlenecking 250 Josephburg Rail Terminal 95 Zeta Creek New Gas Plant Construction 41…
  8. May 2015 Corporate Presentation – Keyera Corp. – slide 8
    Keyeras Integrated Business Lines 62% * 38% * * Operating Margin from Keyeras fee-for-service business represents 62% of total operating margin (LTM). Operating Margin refers to total operating revenues less total operating expenses…
  9. May 2015 Corporate Presentation – Keyera Corp. – slide 9
    Western Canada Sedimentary Basin Canada is home to some of the most economic natural gas plays in North America Significant multi-zone gas potential on the deeper (west) side of Western Canada Sedimentary Basin Majority of geological…
  10. May 2015 Corporate Presentation – Keyera Corp. – slide 10
    Gathering and Processing Business Unit Well maintained, long-life facilities 2.81 Bcf/d licensed gross capacity Adding up to 274 MMcf/d licensed gross capacity with the development of 2 new Montney gas plants2 Keyera operates 16 of…
  11. May 2015 Corporate Presentation – Keyera Corp. – slide 11
    Montney A World Class Resource Pipeline Legend Growing amount of western Canadian natural gas production Keyera New Keyera coming from the Montney geological horizon Third Party Recent Montney study1 estimates marketable volumes…
  12. May 2015 Corporate Presentation – Keyera Corp. – slide 12
    Simonette Expanding to Handle Montney Production Wapiti pipeline system construction Pipeline opened a new capture area northwest of plant in the Wapiti area, where producers are drilling liquids-rich Montney zone Two 90-km…
  13. May 2015 Corporate Presentation – Keyera Corp. – slide 13
    Duvernay An Emerging Resource Development Duvernay developing in two areas Northern Duvernay and Southern Duvernay Multinationals have acquired significant land positions in both areas High levels of condensate and other NGLs…
  14. May 2015 Corporate Presentation – Keyera Corp. – slide 14
    Southern Duvernay Significant Infrastructure Available Keyera well positioned to capture Southern Duvernay volumes: 12 plants in the area with 2.2 Bcf/d gross licensed capacity1 2 new plants being developed, adding up to 274 MMcf/d…
  15. May 2015 Corporate Presentation – Keyera Corp. – slide 15
    New Pipelines Capturing Growing Gas Production Producers targeting numerous geological zones in west central Alberta Keyera continues to expand plant capture areas through addition of gathering pipelines: Carlos pipeline offload and…
  16. May 2015 Corporate Presentation – Keyera Corp. – slide 16
    Enhancing Service Offering at Rimbey Adding 400 MMcf/d turbo expander to enhance liquids extraction: Ethane capacity up to 20,000 bbls/d Project underpinned by long-term ethane purchase agreement Gross capital 230 million…
  17. May 2015 Corporate Presentation – Keyera Corp. – slide 17
    Growing Through Selective Acquisitions Acquisitions completed in 2014: New Plants (under construction): 35% non-operating owner of Alder Flats gas plant 60% operating owner of Zeta Creek gas plant Existing Plants: 85% operating…
  18. May 2015 Corporate Presentation – Keyera Corp. – slide 18
    Stable and Growing Gas Plant Throughput Gross Plant Throughput % Change in Commodity (MMcf/d) Historical Throughput and the Percentage Change in AECO & WTI Price since January 2003 350% 1,600 300% 1,400 250% 1,200 200% 1,000…
  19. May 2015 Corporate Presentation – Keyera Corp. – slide 19
    LNG Development Will Require Midstream Infrastructure Multi-decade resource potential in early stages of development 19 coastal LNG projects under various stages of development1 9 export licenses approved by the NEB2 Producers…
  20. May 2015 Corporate Presentation – Keyera Corp. – slide 20
    Liquids Business Unit Fractionation: Storage: 102,000 bbls/d of C2+ and C3+ net Currently 11.6 million bbls of gross capacity at 5 locations capacity in 12 underground caverns for various NGLs Rail & truck terminals: Iso-octane…
  21. May 2015 Corporate Presentation – Keyera Corp. – slide 21
    Keyera Fort Saskatchewan (KFS) Expanding Fractionation Capacity Added 30,000 bbls/d de-ethanizer Fractionates an ethane-rich stream of NGLs (C2+ mix) into spec products Net cost to Keyera 179 million1, including pipeline connections…
  22. May 2015 Corporate Presentation – Keyera Corp. – slide 22
    KFS Adding Underground Storage Capacity 13th storage cavern; expected in- service Q3 20151 14th storage cavern washing underway; expected in-service H2 20161 15th storage cavern drilling of well bore completed; washing to commence…
  23. May 2015 Corporate Presentation – Keyera Corp. – slide 23
    Oil Sands Production Growth Expected to Continue Bitumen Production Forecast (Historical + Risked) Project Sanctioned and/or Capacity MB/d Company Under Construction (MB/d) Timing Imperial Oil Nabiye 40 2015 Pengrowth Lindbergh…
  24. May 2015 Corporate Presentation – Keyera Corp. – slide 24
    Diluent Demand Drives Logistics Services Top 8 Consumers by Ranking of Operated Production Source: Peters & Co. Limited estimates. Continued Growth In Demand For Condensate Infrastructure 25
  25. May 2015 Corporate Presentation – Keyera Corp. – slide 25
    Extensive, Flexible Condensate Infrastructure Multiple receipt points: Keyeras Condensate Network Local fractionators Kinder Morgan Cochin pipeline (sole receipt point) Enbridge Southern Lights pipeline Western Canada feeder…
  26. May 2015 Corporate Presentation – Keyera Corp. – slide 26
    Enbridge Norlite Pipeline Expanding our Condensate Service Offering Diluent pipeline from Fort Saskatchewan to Athabasca oil sands region Operated by Enbridge Keyera will be 30% non-operating owner Long-term take-or-pay agreement…
  27. May 2015 Corporate Presentation – Keyera Corp. – slide 27
    South Cheecham Terminal Diluent, Dilbit and Bitumen by Rail South Cheecham Rail and Truck Terminal completed in Q3, 2013 Ownership Keyera 50% (operator), Enbridge 50% Terminal capable of receiving diluent and loading dilbit and…
  28. May 2015 Corporate Presentation – Keyera Corp. – slide 28
    Alberta Crude Terminal Loading Crude Oil onto Rail 50/50 joint venture with Kinder Morgan Land Acquired in 2014 operated by Keyera Connection to Kinder Morgans extensive storage facility provides customers access to various crude…
  29. May 2015 Corporate Presentation – Keyera Corp. – slide 29
    Josephburg Terminal A Propane Solution for Industry Josephburg terminal will provide new propane rail infrastructure to handle growing propane supply from new liquids- rich production Capacity of approximately 40,000 bbls/d Capital…
  30. May 2015 Corporate Presentation – Keyera Corp. – slide 30
    Hull, Texas Terminal Access to Mont Belvieu Rail and truck facility in Hull, Texas Pipeline connected to Mont Belvieu NGL hub and Beaumont refining centre Handles NGL mix, propane, butane and iso-butane Complementary storage…
  31. May 2015 Corporate Presentation – Keyera Corp. – slide 31
    Iso-octane Manufacturing Alberta EnviroFuels Iso-octane is a high octane, low vapour pressure gasoline additive Only merchant iso-octane facility in North America; licensed capacity of 13,600 bbls/d Butane is the primary feedstock…
  32. May 2015 Corporate Presentation – Keyera Corp. – slide 32
    Base Line Terminal A Crude Oil Storage Solution for Industry 50/50 joint venture operated by Kinder Morgan (KM) Base Line Terminal Concept Rendering 12 crude oil storage tanks with 4.8 million Bbls of capacity (View Looking North)…
  33. May 2015 Corporate Presentation – Keyera Corp. – slide 33
    Keyeras Marketing Services Condensate Consumed in Alberta as diluent for bitumen C5 Demand significantly exceeds Alberta supply Significant imports today required Butane Consumed in Alberta C4 Feedstock for iso-octane…
  34. May 2015 Corporate Presentation – Keyera Corp. – slide 34
    All Three Business Segments Growing Millions Operating Margin1,2 700 600 500 400 300 Over the last 12 months, 62% of Operating Margin 200 has been derived from fee-for-service contracts 100 (65% when excluding 0 oil and…
  35. May 2015 Corporate Presentation – Keyera Corp. – slide 35
    Conservative Capital Structure 2.3x 15.5% Net Debt to Net Debt1 to Long-Term Debt Maturities4 EBITDA1,2 Enterprise Value3 300 250 200 CAD MM 150 264 100 109 167 143 125 50 97 60 60 75 46 0 2015 2016 2017 2018…
  36. May 2015 Corporate Presentation – Keyera Corp. – slide 36
    Q1 Results (Millions of Canadian dollars, except where noted) Q1/15 Q1/14 Operating Margin Gathering & Processing 60 48 NGL Infrastructure 54 39 Marketing 36 37 Other 4 3 Total Operating Margin1 154 127 Adjusted EBITDA1 185 108…
  37. May 2015 Corporate Presentation – Keyera Corp. – slide 37
    Trading Metrics KEY Trading Symbol (TSX) 43.86 Common Share Price1 7.4 B Market Capitalization1 8.8 B Enterprise Value1,2 169.3 M Common Shares Outstanding3 868,742 Average Daily Trading Volume4 1.38 Annualized Dividend per…
  38. May 2015 Corporate Presentation – Keyera Corp. – slide 38
    Providing Critical Infrastructure for the Oil and Gas Sector in Canada Keyeras growth driven by liquids-rich gas production and oil sands development Western Canadian geology with layered zones provides long-term resource Business…
  39. May 2015 Corporate Presentation – Keyera Corp. – slide 39
    For Further Information Contact: Lavonne Zdunich Director, Investor Relations Nick Kuzyk Manager, Investor Relations 888-699-4853 irkeyera.com Keyera Corp. 600, 144 4 Avenue SW Calgary, Alberta T2P 3N4 www.keyera.com…

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