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Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P.

El Paso Pipeline Partners, L.P. · Mar 1, 2010 · 22 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. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 1
    Fourth Quarter 2009 Financial & Operational Update March 1, 2010 El Paso Pipeline Partners
  2. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 2
    2009 Highlights 214 MM net income attributable to EPB 24% increase from 2008 241 MM distributable cash flow 63% increase from 2008 1.38 x distribution coverage WIC Expansions placed in-service CIG Totem Storage CIG SNG WIC…
  3. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 3
    Consistent Cash Distribution Growth Per Unit 0.36 12.5% 0.35 0.33 0.325 0.32 4Q 2008 1Q 2009 2Q 2009 3Q 2009 4Q 2009 Increased quarterly distribution every quarter since IPO 4
  4. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 4
    Full Year Key Financial Metrics Millions, Except Per Unit Data Earnings per Adjusted Distributable Common Unit EBITDA Cash Flow 355.4 1.64 241.2 1.26 229.4 147.7 2009 2008 2009 2008 2009 2008 Strong financial performance…
  5. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 5
    Fourth Quarter Key Financial Metrics Millions, Except Per Unit Data Earnings per Adjusted Distributable Common Unit EBITDA Cash Flow 0.51 109.0 70.4 0.37 73.1 40.1 4Q 09 4Q 08 4Q 09 4Q 08 4Q 09 4Q 08 Delivering earnings…
  6. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 6
    Financial Results Quarters Ended December 31, ( Millions, Except Per Unit) 2009 2008 Operating revenues 151.1 125.5 Operating expenses (62.9) (53.1) Operating income 88.2 72.4 Earnings from unconsolidated affiliates 16.4 12.9…
  7. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 7
    Earnings from SNG Quarters Ended December 31, ( Millions) 2009 2008 SNG EBIT 80 58 Interest and debt expense, net (13) (15) Net income 67 43 Equity in earnings from SNG* 16.8 10.7 Franchise system in Southeast provides solid…
  8. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 8
    Distributable Cash Flow Quarters Ended December 31, ( Millions) 2009 2008 EBIT 84.2 68.5 Add: Depreciation and amortization 17.2 14.9 Distributions declared by unconsolidated affiliate 21.2 8.8 Net income attributable to…
  9. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 9
    Solid Financial Position ( Millions) December 31, 2009 Cash and cash equivalents 17.4 Revolving borrowings 520.0 CIG debt and other financing obligations 650.2 Notes payable 185.0 Capital lease obligations 7.4 Total debt 1,362.6…
  10. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 10
    Throughput by Region Annual % 2009 vs. 2008 Throughput Ups Downs WIC +4% Rockies supply, expansions CIG +3% Rockies supply, expansions SNG -1% Power generation Industrial 3% overall increase driven by expansions 11
  11. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 11
    Expansion Project Update Big Horn Basin Powder River WIC System Basin Expansion Green River Basin Uinta Basin Denver Basin Piceance Basin Southeast South System III Supply Header Expansion Expansion Florida Raton…
  12. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 12
    Major Expansion Projects Millions 2010 2011 & Beyond Wyoming Interstate Company System Expansion System Expansion Colorado Interstate Gas Raton Basin Southern Natural Gas SESH II SESH II South System III South System III 100%…
  13. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 13
    Continued Success Strong earnings and cash flow Increased cash distribution every quarter since IPO Successful organic growthprojects on-time, on- budget Completed acquisition from El Paso in July Solid financial position…
  14. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 14
    Fourth Quarter 2009 Financial & Operational Update March 1, 2010 El Paso Pipeline Partners
  15. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 15
    El Paso Pipeline Partners Appendix
  16. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 16
    Disclosure of Non-GAAP Financial Measures The SECs Regulation G applies to any public disclosure or release of material information that includes a non-GAAP financial measure. In the event of such a disclosure or release, Regulation G…
  17. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 17
    Financial Results 12 Months Ended December 31, ( Millions, Except Per Unit) 2009 2008 Operating revenues 537.6 457.2 Operating expenses (245.1) (227.4) Operating income 292.5 229.8 Earnings from unconsolidated affiliates 53.4 32.9…
  18. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 18
    Earnings From SNG 12 Months Ended December 31, ( Millions) 2009 2008 SNG EBIT 268 294 Interest and debt expense, net (60) (59) Net income 208 235 Equity in earnings from SNG* 52.5 29.8 *Equity in earnings reflect 10%…
  19. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 19
    Non-GAAP Reconciliation Quarters Ended December 31, ( Millions) 2009 2008 Net income 85.9 71.4 Net income attributable to noncontrolling interests (21.3) (19.9) Net income attributable to EPB 64.6 51.5 Add: Interest and debt…
  20. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 20
    Non-GAAP Reconciliation 12 Months Ended December 31, ( Millions) 2009 2008 Net income 279.5 234.0 Net income attributable to noncontrolling interests (66.0) (62.4) Net income attributable to EPB 213.5 171.6 Add: Interest and debt…
  21. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 21
    EPB Credit Facility Highlights As of December 31, 2009 Facility size: 750 MM Available: 215 MM Maturity: November 2012 Support: Diverse group of 25 financial institutions Primary Covenant* Last Twelve Months Debt to EBITDA <…
  22. Q4 2009 EARNINGS CALL – El Paso Pipeline Partners, L.P. – slide 22
    Ownership Structure Public Unitholders 52,158,350 EPB 55,326,397 EPB Common Units Common Units 27,727,411 EPB Subordinated Units GP interest and incentive distribution rights 38% Limited Partner 60% Limited Partner 2% General…

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