Azure Midstream Enterprise Overview Azure Midstream Enterprise Overview Azure Midstream Partners, LP The Azure Midstream Enterprise is comprised of Azure Midstream Partners, LP In millions, except per unit data, as of 5/15/15 (NYSE:…
Diversified Midstream Operating Footprint Gas Gathering & Processing in East TX & North LA and Crude Logistics in the San Juan, Powder River and Uinta Basins Azure Midstream Assets Gas Gathering: Legacy Gathering System, Lake Murvaul…
Transaction Rationale Azure Sponsorship: Azure is financially incentivized to support the Partnerships growth through Strong Sponsor additional dropdowns Support / Aligned Strong Senior Leadership: Experienced leadership team brings…
Experienced Senior Leadership and Commercial Team President of Azure Midstream since July 2012 Founded Laser Midstream Company (Laser II), which developed a 1.4 Bcf/d gas gathering system in Northeast Pennsylvania and Southern New…
Azure Midstream Partners, LP Overview
Azure Midstream Partners, LP Overview Growth-oriented midstream MLP engaged in natural gas gathering, transportation, compression, dehydration, treating, processing, NGL transportation, and crude oil transloading services Investment…
Azure Midstreams Fee-Based Cash Flows Limit Commodity Exposure Revenues Backed by Fee-based Contracts with Minimum Volume Commitments Fee-based contracts with annual inflation adjustments Segment Gross Margin Pro Forma and remaining…
Legacy System Asset Overview 658 miles of high- and low-pressure gathering lines, serving 100,000 dedicated acres with access to seven major downstream markets Asset Summary Legacy System Footprint Located in Harrison, Panola and Rusk…
Logistics Asset Overview 6 total transloaders with minimum volume commitments of 22,528 Bbls/d across Utah, Wyoming and New Mexico Asset Summary Logistics Footprint AZURs logistics assets contribute 20% of pro forma 2014 EBITDA with…
Azure Midstream Has Stable Fee-based Cash Flows Low Direct Commodity Price Exposure Risk Relative to Selected Peers MIDSTREAM ENERGY LLC Commodity price Commodity price Commodity exposure, 17% (1) exposure, 2% (1) Price…
Strategically Positioned Assets in the Cotton Valley Cotton Valley Provides Meaningful Liquids Upside Potential Horizontal drilling and fracture stimulation have led to a renaissance of production in the Cotton Valley formation…
Well Positioned To Capitalize on Expanding LNG and NGL Markets LNG and NGL Demand Creates Substantial Opportunity for Growth Majority of the approved and proposed LNG export facilities in the United States are situated on the Southeast…
Logistics Business Upside in the Uinta Basin Uinta Basin Significant Oil Resource Provides Meaningful Upside for AZURs Wildcat Transloading Facility Due to the high paraffin content in Uinta oil, the crude has traditionally been…
Azure Holdings Overview
Azure Midstream Holdings Overview Gas gathering and processing assets with a book value of 900 million focused on the Haynesville, Cotton Valley and Bossier formations Investment Highlights Current Azure Holdings Footprint Premier…
Holly System Asset Overview 335 miles of high- and low-pressure pipeline serving 69,000 dedicated gross acres with throughput of 438 MMcf/d Holly System Summary Holly System Overview 438 MMcf/d throughput (three months ending March…
ETG and Shelby Systems Asset Overview Combined 373 miles of high-pressure pipeline serving 376,000 dedicated gross acres ETG and Shelby System Summary ETG System Overview 1.8 Bcf/d throughput (March 2015) ETG Miles of Pipeline 255…
Combination Creates Top-Tier Distribution Growth With over 900 million of drop-down inventory at the general partner level, AZUR has a 10-14% 3-year distribution CAGR target that positions us favorably relative to our G&P MLP Peer…
AZUR Retains Financial Flexibility To Fund Forward Growth Long Term Debt Outstanding debt as of March 31, 2015: 182.8 million IPO in millions PF 182.8 AZUR currently has lower leverage relative to its peer universe and the industry…
10 Year Historical Commodity Prices Historically, troughs in West Texas Intermediate (WTI) and Henry Hub (HH) prices have not lasted more than 10 15 months 4.5 months (WTI) 5 months (WTI) 5 months 9.5 months (HH) 14 months (HH) 10.5…
Azures Disciplined and Thoughtful Growth Financial Strategy Evaluate additional equity capital as part of growth strategy Use balanced amount of equity to finance growth Utilize unsecured debt to manage total senior secured…
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