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SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp

Spectra Energy Partners, Lp · Feb 5, 2014 · 44 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. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 1
    BUSINESS OUTLOOK & 2014 FINANCIAL PLAN Supplemental Information Appendix February 5, 2014
  2. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 2
    Our Strong Portfolio of Assets Natural Gas Transmission Pipe: 19,000 mi Natural Gas Storage Capacity: 300+ Bcf Natural Gas Gathering Pipe: 69,000 mi Crude Transmission Pipe: 1,700 mi NGL Transmission Pipe: 1,500 mi Gas storage…
  3. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 3
    Spectra Energy Asset Structure Reporting Segment Assets in Segment U.S. Transmission Saltville Gas Storage Algonquin Gas Transmission Texas Eastern Transmission Big Sandy Pipeline Maritimes & Northeast, US Bobcat Gas Storage…
  4. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 4
    BUSINESS OUTLOOK & 2014 FINANCIAL PLAN Appendix Section I U.S. Transmission Overview
  5. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 5
    Spectra Energy Partners: U.S. Transmission Natural Gas Transmission Pipe 13,700mi System Compression 2.5MM HP Natural Gas Storage Capacity 150 Bcf Access to multiple supply sources One of the largest storage positions in North…
  6. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 6
    Spectra Energy Partners: U.S. Transmission Contract Portfolio 95% of U.S. Transmission revenue comes from demand charges 2013 TETLP Firm Demand Revenues by 2013 TETLP Firm Demand Revenues by Service Provided Customer Type LDCs 62%…
  7. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 7
    Spectra Energy Partners: Solid Fee-Based Businesses Average Contract Term for Major U.S. Transmission Pipelines (years) 0 5 10 15 20 Texas Eastern 7.2 Algonquin 6.6 East Tennessee 8.1 Maritimes & Northeast (US) 18.1…
  8. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 8
    Spectra Energy Partners: U.S. Transmission Revenue Stability Based on Transmission Revenues for 12 months ended 12/31/13 100% 90% 95% 98% 97% 98% 98% 98% 93% 80% 70% 60% 50% 40% 30% 20% 2013 Reservation Revenue 2013 Usage and…
  9. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 9
    BUSINESS OUTLOOK & 2014 FINANCIAL PLAN Appendix Section II Liquids Overview
  10. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 10
    Spectra Energy Partners: Liquids Crude Pipelines Express Platte Hardisty Size: 785 mile, 24 pipe 932 mile, 20 pipe Express Casper, WY Guernsey WY Pipeline Nameplate 164 mbpd 280 mbpd Guernsey, WY Wood Express-Platte Capacity:…
  11. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 11
    BUSINESS OUTLOOK & 2014 FINANCIAL PLAN Appendix Section III Distribution Overview
  12. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 12
    Spectra Energy: Distribution Retail Customers 1.4 million Distribution Pipe 39,000 mi Union Gas 2nd largest natural Natural Gas Storage Capacity 160 Bcf Pipeline Capacity 6.4 Bcf/d gas distributor in Canada Natural Gas Transmission…
  13. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 13
    BUSINESS OUTLOOK & 2014 FINANCIAL PLAN Appendix Section IV Western Canada Transmission & Processing Overview
  14. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 14
    Spectra Energy: Western Canada Transmission & Processing Western Canadian G&P BC AB SK MB BC Pipeline QC Empress Maritimes & ON Northeast, Canada NB NS Gathering & BC Pipeline Natural Gas Liquids Empress System Processing…
  15. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 15
    BUSINESS OUTLOOK & 2014 FINANCIAL PLAN Appendix Section V Field Services Overview
  16. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 16
    Spectra Energy: Field Services Competitive Advantages 64 Plants, 12 Fractionators Premier US gas gatherer and 67,000 miles of Pipeline* processor Largest natural gas liquids (NGL) producer in the U.S. Located in most major oil &…
  17. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 17
    DCP Midstream: 2014 Financial Summary DCP Midstream Earnings (100%) ( MM) 2014e 2015e 2016e EBITDA 1,330 1,535 1,595 Net Income 510 545 555 Distributions to Owners 465 520 520 Commodity Sensitivities (100%) 2014 Earnings 12 mo…
  18. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 18
    2014 Plan- DCP Midstream: Margin / Volume By Contract 2014e Margin by Contract Type(1) 2014e G&P Volumes & Margin(1) Margins Volumes ( /MMBtu) (TBtu/d)(3) Keepwhole 10% Percent of 0.50 6.0 Other(2) Proceeds Percent of 25%…
  19. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 19
    BUSINESS OUTLOOK & 2014 FINANCIAL PLAN Appendix Section V Financial Information
  20. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 20
    Ongoing EBITDA by Segment ( US MM) 3,490 3,500 3,255 310 3,034 3,035 295 2,900 343 305 605 575 574 555 2,300 730 715 690 736 1,700 1,100 1,750 1,915 1,440 1,560 500 -100 -59 -75 -80 -70 2013 2014e 2015e 2016e Spectra…
  21. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 21
    Total Capital Expenditures Maintenance Capex Expansion Capex (US MM) ( US MM) 2,750 2,550 800 2,500 175 755 735 750 2,270 50 45 2,250 682 40 340 42 2,000 600 220 210 205 1,750 1,275 226 1,514 580 1,500 1,390 131 400 195…
  22. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 22
    Spectra Energy: Strong Investment Grade Balance Sheet Financial and Credit Projected Metrics Summary 12/31/13 12/31/14 Total Debt 14.7B 15.5B Debt / EBITDA 4.9x 5.1x Credit Ratings Spectra Energy Capital Baa2 / BBB- / BBB* *…
  23. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 23
    Spectra Energy Partners: Strong Investment Grade Balance Sheet Financial and Credit Projected Metrics Summary 12/31/13 12/31/14 Total Debt 5.9B 6.3B Debt / EBITDA 4.2x 4.2x Credit Ratings Spectra Energy Partners Baa2 / BBB /…
  24. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 24
    Liquidity Positions Total SEC-WEI- Total As of 12/31/13 SE Capital Westcoast Union Gas UGL SEP Enterprise Revolving Credit 1,000 282 377 1,659 2,000 3,659 Commitments Less: Commercial Paper (344) (34) (316) (694) (338) (1,032)…
  25. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 25
    SE Corp Consolidated Debt Maturity Profile as of 12/31/13 USD Millions 500 450 Express-Platte 2,500 400 SE Capital 350 SE Partners 300 M&N - Can 250 M&N - US 200 Union Gas 150 2,000 100 Westcoast 50 East Tenn 0 Algonquin…
  26. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 26
    SEP Consolidated Debt Maturity Profile as of 12/31/13 USD Millions 450 400 1,800 350 300 Express-Platte 250 SE Partners 1,600 200 M&N - US 150 East Tenn 1,400 100 Algonquin 50 TETLP 0 Dec-14 Oct-14 Aug-14 1,200…
  27. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 27
    Customer Credit Exposure as of 9/30/13 Spectra Energys customer mix is made up of primarily high quality credits 35% 32% A or Higher BBB+ to BBB- 7% 13% Non-Investment Investment Grade- Grade - Unsecured 13% Equivalent…
  28. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 28
    BUSINESS OUTLOOK & 2014 FINANCIAL PLAN Appendix Section VII Major SE and SEP Projects
  29. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 29
    SE and SEP Current Projects in Execution Expansion Project Segment Status (1) Est. CapEx (MM) In-Service North Montney Expansions W. Canada Partial In-Service 300 4Q12-2014 Kingsport U.S. Trans Execution 120 2H13-1H15 TEAM 2014 U.S.…
  30. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 30
    North Montney Expansions Purpose: Provides customers with North Montney gathering & processing and pipeline take- away capacity Project Scope: CapEx: 300 MM Major Customers: Progress Energy Talisman Energy Project Status:…
  31. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 31
    Kingsport Projects Purpose: Provides additional firm transportation capacity to support supply diversity for Eastman Chemical Companys power generation facility in Kingsport, Tennessee Project Scope: 25 Mmcf/d of firm capacity…
  32. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 32
    Texas Eastern Appalachian Market TEAM 2014 Purpose: Provides Producer Customers with diverse firm path options from Marcellus region to Northeast, Midwest and Henry Hub market areas TEAM 2014 Project Scope: TEAM 2014 600 MMcf/d…
  33. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 33
    TEAM-South Expansion Project MARCELLUS Purpose: Expansion of Texas Eastern from Appalachian area receipts to high growth markets in the South Project Scope: M2 UTICA Capacity: 300 MMcf/d…
  34. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 34
    Dawn-Parkway Expansion Purpose: Capacity increase to meet market Enbridge GTA Project interest for supply access at Dawn TCPL Kings North and other eastern receipt points on Project the TCPL system Parkway West Increase…
  35. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 35
    Ohio Pipeline Energy Network (OPEN) Purpose: Attach emerging Ohio Marcellus and Utica natural gas supplies to new markets Project Scope: 550 MMcf/d expansion of Texas Eastern CapEx: 500 MM Customers (15+ year terms): Chesapeake…
  36. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 36
    Uniontown to Gas City (U2GC) Purpose: Expansion of Texas Eastern from Appalachian area receipts to markets at Gas City, Indiana Project Scope: Capacity: 425 MMcf/d CapEx: 60 MM Customers (10+ year terms): CONSOL Energy East…
  37. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 37
    Salem Lateral Purpose: Provide natural gas service to a new power plant development on the site of an existing coal-fired plant Project Scope: 115 MMcf/d expansion connecting AGT Hubline and MNE to the new power plant CapEx: 60…
  38. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 38
    Algonquin Incremental Market (AIM) Expansion Purpose: Provide growing New England demand with access to abundant regional natural gas supplies Project Scope: Providing 340 MMcf/d of additional capacity to move Marcellus…
  39. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 39
    Gulf Markets Expansion Purpose: Provides Texas Eastern transportation service for Gulf Coast markets Project Scope: 350 MMcf/d expansion from Marcellus (M2) to Louisiana (WLA) 150 MMcf/d expansion from Eagle Ford (STX) to…
  40. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 40
    Sabal Trail Transmission Expansion Purpose: New interstate pipeline into Florida providing access to reliable onshore natural gas supply Project Scope: 1 Bcf/d of capacity connecting Transco Station 85 supply to Florida power…
  41. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 41
    BUSINESS OUTLOOK & 2014 FINANCIAL PLAN Appendix Section VIII Sustainability Recognition
  42. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 42
    Sustainability For Spectra Energy, Sustainability means: Providing natural gas, liquids and crude oil pipelines and midstream infrastructure to meet North Americas energy needs in a way that is economically, environmentally and…
  43. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 43
    Sustainability Recognition Environmental Social Governance Performance Dow Jones Sustainability 4th time on the World Index and 6th consecutive time Indexes on North America Index Member of the CDPs Global 500 and S&P 500 Climate CDP…
  44. SUPPLEMENTAL INFORMATION APPENDIX – Spectra Energy Partners, Lp – slide 44

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