Regency Energy Partners Wells Fargo 2010 Pipeline and MLP Symposium December 7, 2010
Forward-Looking Statements Certain matters discussed in this report include forward-looking statements. Forward-looking statements are identified as any statement that does not relate strictly to historical or current facts. Statements…
Regency Overview
Regency Profile From the wellhead to market, Regency offers a full range of midstream natural gas services, including contract compression, treating, gathering and processing, transportation and marketing of natural gas and natural gas…
Regency Overview: A Diverse Portfolio Regency Asset Map Asset Summary1 Gathering Pipeline 5,252 miles Treating/Processing Plants2 8 Intrastate Pipeline3 450 miles Interstate Pipeline4 517 miles Contract Compression (HP)5…
Transportation Segment: Haynesville Joint Venture (RIGS) Overview Haynesville Joint Venture (RIGS) Partnership Structure RIGS Details Regency Energy Partners 49.99% Capacity / 2.1 Bcf/d Pipeline Length 450 miles GE Energy Financial…
Transportation Segment: MEP Joint Venture Overview Midcontinent Express Pipeline MEP Joint Venture Partnership Structure Regency Energy 49.9% Partners Kinder Morgan 50.1% Operating Company MEP Details Zone 1 Zone 2…
Gathering and Processing Segment: Asset Overview Regencys gathering and processing operations are primarily located in Texas, Louisiana, Oklahoma and Kansas1 Mid-Continent Plants2 1 Gathering System 3,470 Length (Miles)…
Contract Services Segment: Contract Compression Overview Regencys core compression operations are located in Texas, Louisiana, Arkansas and Pennsylvania Horsepower by Region, Region Total HP of Units Central 153,378 163 West 236,654…
Contract Services Segment: Zephyr Acquisition Competitive Advantages Zephyr Acquisition Majority of assets are located in the Location fastest growing treating markets in the U.S. Management team has a long history of…
Key Objectives Regency is focused on obtaining investment grade metrics1 and consistently growing cash distributions to unitholders A Balanced Approach Strategic Objective Execution Benchmarks Target Outcomes Optimize existing…
Benefits of Regency and ETE Relationship Energy Transfer Equity, L.P. (ETE), which also owns the general partner of ETP, acquired Regencys general partnership on May 26, 2010 ETE is supportive of Regencys objective of reaching…
Overview of Business Results
Key 2010 Accomplishments Increases Scale and Enhances Improves Business Expands Financial Mix Geographic Reach Strength Completed construction of Haynesville and Red River expansion projects Acquired 49.9% interest in MEP…
Year-To-Date 2010 Performance Adjusted EBITDA1 In 2010, Regency has produced strong financial 250 For the Nine Months Ended results 225 200 Comparing the nine months ended 158 September 30, 2010 to same period in the 150 prior…
Commodity Price Risk Management 1 75% of NGLs, 64% of condensate, and 49% of natural gas are hedged for 2011 1 20% of NGLs and 17% of condensate are hedged for 2012 NGL Equity Production vs. Hedged 5,000 4,000 70% 77% 75% 68%…
Looking Ahead
Future Growth Opportunities Regency has exceptional opportunities across our diverse business portfolio Region Gathering Processing Compression Treating Eagle Ford Shale Marcellus Shale Haynesville Shale West…
Concluding Thoughts Regencys total return to unitholders over the last 12 months was 48% 14% Regency 12-Month Performance 30 16% 26 12% 25 (/unit) 14% Price(/unit) 10% Regency Dividend Yield (%) 22 Dividend Yield…
Q&A
Appendix
Gathering and Processing Segment (Year-Over-Year) Nine Months Ended September 30, 2010 2009 ( in thousands) Gathering and Processing Segment Financial data: Segment margin (1) 143,093 162,938 Adjusted segment margin (1) 166,460…
Contract Services Segment (Year-Over-Year) Nine Months Ended September 30, 2010 2009 ( in thousands) Contract Services Segment Financial data: Segment margin 116,083 106,865 Operating data: Revenue generating horsepower…
Corporate and Others Segment (Year-Over-Year) Nine Months Ended September 30, 2010 2009 ( in thousands) Corporate & Others Financial data: Segment margin (1) 15,751 4,311 (1) Segment margin varies from previously disclosed…
Transportation Segment (Year-Over-Year) The following provides key performance measures for 100% of the Haynesville Joint Venture and the MEP Joint Venture Nine Months Ended September 30, 2010 2009 ( in thousands) Transportation…
Non-GAAP Reconciliation (Year-Over-Year) Nine Months Ended September 30, 2010 2009 2008 ( in thousands) Net (loss) income (1,995) 143,836 69,392 Add (deduct): Interest expense, net 64,961 55,968 48,261 Depreciation and amortization…
Non-GAAP Reconciliation (Year-Over-Year) Nine Months Ended September 30, 2010 2009 2008 ( in thousands) Net (loss) income (1,995) 143,836 69,392 Add (Deduct): Operation and maintenance 92,550 90,271 85,475 General and…
Non-GAAP Reconciliation Nine Months Ended September 30, 2010 ( in thousands) Net cash flows provided by operating activities 127,903 Add (deduct): Depreciation and amortization, including debt issuance cost amortization (94,130)…
Non-GAAP Reconciliation (2010 Guidance) Low Estimate High Estimate ( in thousands) Forecasted net income 65,000 85,000 Add: Depreciation and amortization 120,000 120,000 Interest Expense 75,000 80,000 EBITDA at JV in excess of…
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