Crestwood Midstream Partners LP Arrow Acquisition Overview October 10, 2013
Arrow Midstream Opportunity Overview Crestwood Midstream Partners Expands Bakken Shale Footprint with 750 Million Midstream Acquisition in Core of the Core of the Bakken play Attractive acquisition valuation drives immediate accretion…
Crestwood Strategic Objectives Pursue liquids-driven strategy around existing asset platform and geographic footprint to deliver promised growth objectives; success will be primarily driven by execution Execution & Integration &…
Established Platform Where We Want to Be Asset Summary (1) Existing platform in every premier shale play Natural Gas 1.3 Bcf/d natural gas transportation capacity in North America creates significant opportunity for 2.1+ Bcf/d…
Arrow Midstream: A Strategic Fit Highlights the immediate benefits of the merger of Crestwood and Inergy Midstream Substantial footprint in the core of the core of the prolific Bakken Shale Strong crude oil fundamentals drive robust…
Arrow Midstream System Overview Arrow Midstreams assets located in some of the most active areas of the Bakken Shale Asset Description Asset Map Located on the Fort Berthold Reservation in Dunn and McKenzie counties, North Dakota…
Bakken Shale a Core Area for Future Growth Capital allocation to the core of the core of the most prolific liquids-rich and crude oil plays Over 150,000 acres dedicated to Arrow systems Original Oil in Place including more than 1,000…
Liquids-Driven Value Chain Strategy Crestwood expands liquids-focused value chain services around Bakken Shale footprint for blue-chip producer customers Full Suite of Value Chain Services 2014E Margin Mix by Commodity (1) Expanding…
Integrating the Bakken Footprint Arrows CDP is a strategic liquidity hub south of the Missouri river, which complements CMLPs existing COLT Hub Synergy Potential Arrow system is located approximately 60 miles Tesoro southeast of…
Significant Visibility to Long-term Growth Core Arrow system poised for growth with system designed to get ahead of future expected system throughput demand Arrows oil, gas and water gathering systems have been engineered around…
Commitment to Operational Excellence Because of the early integration efforts surrounding the Crestwood and Inergy merger, Crestwood is well positioned to successfully integrate the Arrow system Crestwood is an experienced gatherer…
Financing Overview Crestwood has arranged fully-committed debt financing from Citigroup Global Markets Inc.; No financing contingencies to close the transaction Fully-committed equity financing in the form of equity consideration paid…
Key Investor Highlights Positioning Crestwood for long-term visibility to growth to create unitholder value Liquids-focused strategy benefits from robust long- term macro fundamentals High quality asset base sufficient to drive…
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