October 11, 2013 Boardwalk Annual Customer Meeting Nashville Customer Meeting Presentation for Boardwalks Wells Response Fargo Kick the to theTour Tires Houston June 2015 Changing Market Kathy Kirk, Senior Vice President…
Key Investment Highlights Diversified midstream MLP that transports, stores, gathers and processes natural gas and liquids A substantial portion of revenue is from fixed-fee, take-or-pay contracts with investment-grade customers…
Large and Diverse Platform of Infrastructure Assets Boardwalk is a diversified midstream MLP that transports, stores, gathers and processes natural gas and liquids Boardwalk Operational Highlights Pipelines: We own and operate…
Introduction to Boardwalks General Partner Our general partner is a wholly-owned subsidiary of Loews Corporation, which is one of the largest diversified corporations in the United States Principal subsidiaries and percent of…
Boardwalk Strategy Leverage and strengthen existing natural gas pipeline transportation and storage assets by attaching to new end-use markets and accessing abundant supply sources Optimize asset base by identifying and implementing…
Boardwalk Accomplishments Completed 2.1 billion of growth projects and acquisitions since the Fall of 2011: 1.5 billion in acquisitions + 600 million in organic growth projects Diversification from traditional operations by adding:…
Projects Completed Since Fall 2011 (2.1 billion) Growth Project/Acquisition Scope Timing Est MM (Capex) Acquisition of Petal Gas Storage Acquired approx. 23 Bcf of working gas capacity and 105 miles of natural gas pipelines Closed…
Major Growth Projects Southern Indiana Lateral 75M in capex Capacity: 53,500 MMBtu/d In service: H2-2016 (est)* Northern Supply Access 310M in capex Western Kentucky Lateral Capacity: 384,000 MMBtu/d 80M in capex + 270,000…
Well Positioned to Capitalize on Changing Supply Dynamics By 2020, U.S. supply is forecasted to grow by approximately 21 Bcf/d Boardwalk assets are located near shale gas supply sources with significant reserves 34.1 Bcf/d 14.8…
Changing Demand Dynamics: LNG Exports Bcf/d LNG Facilities by Location Approved Proposed Potential Texas 3.9 10.0 8.1 Louisiana 5.9 7.4 4.4 Mississippi - 1.5 - Grand Total 9.8 18.9 12.5 FERC Approved, Proposed or Potential U.S.…
Changing Demand Dynamics: Industrial Markets INDUSTRIALS We provide approximately 186 industrial facilities with a combination of firm and interruptible natural gas and liquids transportation and storage services Industrials…
Forecasted U.S. Coal Retirements Over the Next 15 Years POWER PLANTS We are directly connected to 39 natural-gas-fired power generations facilities in nine states. Year Forecasted MWs 2015 14,883 2016-2019 19,973 2020-2029…
Basis Spreads to Henry Hub LEGEND DOMINION Average Annual SOUTH POINT Spread (1.07) 2015 (0.21) 2013 0.31 2009 COLUMBIA GULF MAINLINE KOSCI CENTERPOINT EAST (0.07) (0.08) (0.05) (0.06) (0.12) (0.00) 0.06 (0.10) (0.62)…
October 11, 2013 Boardwalk Annual Customer Meeting Nashville Customer Meeting Boardwalks Response Financial to the Overview Changing Market Kathy Kirk, Senior Vice President Marketing & Origination Moss Point Compressor…
Financial Highlights Substantially a long-term, fixed-fee revenue base Significant portion of revenues backed by contracts with primarily investment-grade customers Continued focus on reducing leverage to maintain investment-…
Boardwalk Revenue Profile Backed by Firm, Long-term Contracts Majority of revenues are under firm contracts Capacity reservations charges are received monthly regardless of utilization Weighted-average contract life of approximately 5…
Financial Information Results For the Three Months Ended March 31, 2015 2015 Total Cap-Ex Forecasted ( in millions) ( in millions) Net Income 78 Total Cap-Ex Forecasted = 570 Depreciation and amortization 82 Interest expense 45…
Capitalization Adjustments for December 31, 2015 Financing March 31, Issued 350 million of 4.95% notes in ( in millions, except ratio data) 2014 Activities 2015 November 2014 and additional 250 Cash and Equivalents 7 22 29 million of…
Reduced Refinancing Risk for Senior Unsecured Notes 900 Term Loan was paid in May 2015 800 2015 Gulf South and Texas Gas notes refinanced to 2024 700 maturity under Boardwalk* 600 500 in millions 400 300 200…
Key Investment Highlights Diversified midstream MLP that transports, stores, gathers and processes natural gas and liquids A substantial portion of revenue is from fixed-fee, take-or-pay contracts with investment-grade customers…
October 11, 2013 Boardwalk Annual Customer Meeting Nashville Customer Meeting Appendix Boardwalks Response to the Changing Market Kathy Kirk, Senior Vice President Marketing & Origination Moss Point Compressor Station 25
Coastal Bend Header Project to Serve Planned Freeport Liquefaction Export Terminal Capex Est.: 720 mm* Contracted Capacity: 1.4 Bcf/d with 20-year firm Precedent agreements In-Service: 2018 (est.)** *Capex may change based on…
North-to-South Projects: OH-LA and Southern Indiana Lateral Ohio-to-Louisiana Access Project Southern Lebanon Capex Est.: 115 mm Indiana Lateral Marcellus & Utica Supplies Contracted Capacity: 626,000 MMBtu/d with 13-year weighted…
Additional North-to-South Projects Northern Supply Access Project Capex Est.: 310 mm Lebanon Contracted Capacity: Marcellus & 384,000 MMBtu/d with 16-year Utica Supplies weighted average precedent agreements In Service: H2-2017 (est.)…
Western Kentucky Lateral Western Kentucky Lateral Texas Gas Transmission Proposed lateral Marcellus Interconnect & Utica Lebanon Supplies Western Kentucky Lateral Capex Est.: 80 mm Contracted Capacity: 230,000 MMBtu/d with…
Project to Serve Power Plant in South Texas Capex Est.: 80mm Contracted Capacity: 185,000 MMBtu/d with 20-year precedent agreement to serve new combined cycle power plant in South Texas In-Service: H2-16 Project is subject to FERC…
Projects to Attach to Additional End-Use Markets Projects to provide approximately 390,000 MMBtu/d of natural gas deliveries to power and industrial plants EXECUTED AGREEMENT Connection to power plant in Indiana Executed 5-year…
Boardwalk Louisiana Midstream Growth Evangeline Ethylene Pipeline provides ethylene Expansion to Serve Sasols Ethane transportation from East TX/West LA to the Mississippi Cracker: River Corridor Ethane cracker to be located near our…
EBITDA and Distributable Cash Flow Reconciliation Non-GAAP Financial Measures Earnings before interest, taxes, depreciation and amortization (EBITDA) is used as a supplemental financial measure by Boardwalks management and by external…
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