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RBC Capital Markets MLP Conference – Enterprise Products Partners LP

Enterprise Products Partners LP · Nov 19, 2014 · 34 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. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 1
    ENTERPRISE PRODUCTS PARTNERS L.P. RBC CAPITAL MARKETS MLP CONFERENCE November 19, 2014 Mike Creel CEO ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
  2. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 2
    ADDITIONAL INFORMATION This communication does not constitute an offer to buy or solicitation of an offer to sell any securities. In furtherance of the proposed merger of Oiltanking Partners, L.P. (Oiltanking) with a whollyowned…
  3. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 3
    ENTERPRISE PRODUCTS PARTNERS L.P. EPD is one of the largest publicly traded midstream energy partnerships with a firm value of 90 billion One of the largest integrated midstream energy systems Diversified sources of cash flow…
  4. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 4
    EPD TODAY: NATURAL GAS, NGLS, CRUDE OIL, REFINED PRODUCTS AND PETROCHEMICALS Asset Overview Connectivity Pipelines: 52,000 miles of natural gas, NGL, crude oil, refined Connected to U.S. major shale basins products and…
  5. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 5
    GEOGRAPHIC AND BUSINESS DIVERSIFICATION PROVIDE MULTIPLE EARNINGS STREAMS 5.2 Billion Gross Operating Margin 4 Year Growth Capital Allocation 20132016E(1) For 12 months ended September 30, 2014 12.5 Billion 15% 15% 13% 21%…
  6. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 6
    VISIBILITY TO GROWTH: 20B PROJECTS Recently Completed / Under Construction Organic Growth Capital Projects Projects completed since 2011: 12.7 Billion 4.5 12.7B Completed 6.3B Under Construction approximately 3% under budget 0.3…
  7. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 7
    VISIBILITY TO GROWTH: MAJOR CAPITAL PROJECTS 6.2B InService in 2013 / 3Q14; 6.3B Under Construction In Service Date 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 2015 2016 NGL Pipeline & Services Eagle Ford Yoakum gas processing facility…
  8. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 8
    VISIBILITY TO GROWTH Additional Opportunities Under Development Supplyside Opportunities Demandside Opportunities NGLs NGLs Purity and mixed NGL pipelines from Pipeline and storage projects to serve expanding petrochemical industry…
  9. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 9
    POTENTIAL ENERGY PRODUCTION GROWTH 100 U.S. Natural Gas 20 North American Crude Oil & Condensate 90 U.S. Canada 16.7 90 15 80 Million BPD 71 10.7 Bcf/d 70 10 7.5 60 59 5 50 40 0 3.0 U.S. Ethane 3.0 U.S. LPG…
  10. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 10
    PROJECTS OVERVIEW ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
  11. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 11
    MAJOR NGL CAPITAL GROWTH PROJECTS ATEX and Aegis Ethane Pipelines ATEX Pipeline Initial Origins 1,265mile, 16 and 20 pipeline Initial capacity 125 MBPD, expandable to 265 MBPD Connected to 4 NGL fractionators 15 year shiporpay…
  12. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 12
    EPD PDH FACILITY UPDATE Propylene production from ethylene crackers decreased by 5.4 billion lbs. or 37% since 2010 due to the decline in cracking naphtha Capacity to produce up to 1.65 billion pounds per year of polymer grade…
  13. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 13
    EXPORT CAPACITY: LINKING U.S. SUPPLIES TO GROWING GLOBAL DEMAND Beaumont OTI EPD Mont Sealy OTI Belvieu Houston Product Docks Berths U/C Morgans Point OILT Beaumont Multi 2 4 2 EPD Beaumont Refined 1 0 1 OILT Houston Multi…
  14. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 14
    U.S. BECOMES LARGEST EXPORTER OF PROPANE Propane Exports by Destination as of October 2014 2014 YTD Propane Exports (from EPD Facility) by Destination Region: 68 MMBbls % of Cargoes Loaded % of Destination Market North America 33%…
  15. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 15
    EPD BOOKING CARGOES / BUILDING CAPACITY 2,000 LPG Cargoes Scheduled Through 2024 Historical & Contracted Future LPG Loadings vs. Capacity 16 14 12 10 MMBbls 8 6 Existing Capacity: 7.5 MMBbls/mo 4 Expansion 1Q 2015:…
  16. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 16
    NEW MARKETS DEVELOP FOR U.S. ETHANE Market Potential EPD Ethane Export Facility at Morgans Point, TX Ethylene cracker feedstock displacing current Supported by longterm contracts crude oil derivative feedstocks or new demand Combined…
  17. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 17
    SEAWAY CRUDE OIL PIPELINE EXPANSION COMPLETED Cushing Seaway Loop: 512 mile, 30 parallel pipeline along existing pipeline; O k l a h o m a completed June 2014 A r k a n Linefill is underway Expect volumes to reach Jones Creek…
  18. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 18
    EPD & SEAWAYS GULF COAST CRUDE SYSTEM Access to 8 MMBPD Refining and Water From Cushing Galena Park Sealy Baytown XOM VLO H.R. PRSI Shell Beaumont Katy 24 Rancho Bertron 24 Motiva VLO TOT XOM Speed Junction Genoa ECHO…
  19. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 19
    OILTANKING ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
  20. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 20
    ACQUISITION OF OILTANKING (OILT) OVERVIEW AND RATIONALE On October 1, 2014, EPD acquired OILTs GP and related IDRs, 15.9 million OILT common units and 38.9 million OILT subordinated units (which converted oneto one to common units…
  21. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 21
    ACQUISITION OF OILT PRINCIPLE DRIVERS OF VALUE CREATION At least 30 million of synergies and cost savings from the complete integration of OILTs business into Enterprises system as well as public company cost savings Opportunities…
  22. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 22
    OILT HOUSTON ASSET OVERVIEW 13.2 MMBbls of storage at main site 6.7 MMBbls at Appelt site 100 miles of pipeline in Houston area 7 ship docks (post expansion) and 3 barge docks Hosts EPDs expanding LPG refrigeration facility…
  23. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 23
    OILT BEAUMONT ASSET OVERVIEW Two sites with 5.5 MMBbls of storage 4 ship docks (post expansion), EPD Storage Facility 2 barge docks Significant land for expansion Adjacent to EPDs storage facility Near EPDs refined products…
  24. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 24
    FINANCIAL ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
  25. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 25
    SOLID OPERATING PERFORMANCE 5.3 5.2 Liquids Pipeline Volumes Equity NGL Production & Feebased Processing 5.0 140 5 121 126 125 4.8 116 Feebased Processing 120 Equity NGL Production 4.6 4.9 4.5 101 Million BPD 100…
  26. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 26
    DRIVES STRONG FINANCIAL RESULTS Gross Operating Margin 4.5 Distributable Cash Flow (DCF) (1) 5.0 4.8 4.1 4.4 3.8 3.8 3.9 3.9 4.0 3.5 3.3 3.7 3.0 Billions Billions 3.0 2.5 3.0 2.9 2.3 2.8 2.0 2.2 1.5 1.0 0.0 0.5…
  27. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 27
    HISTORY OF FINANCIAL DISCIPLINE WHILE EXECUTING GROWTH STRATEGY (1) (2) Total Growth Capex & Debt Leverage 4.5 4.2 4.7x 4.0 3.9 3.6 3.5 4.5x 3.1 3.1 Debt / Adjusted EBITDA 3.0 4.3x 2.5 Billions 4.1x 2.0 3.9x…
  28. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 28
    STRENGTHENING DEBT PORTFOLIO Extending Maturities Without Increasing Costs 15.9 Billion Notes Issued 98.9% Fixed Rate Debt 2009 10/2/2014 15 14.7 7.5% 13 13.3 7.3% Average Maturity Years 12.3% 12.4 Cost of Debt…
  29. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 29
    EPD TOTAL RETURN Compared to 9 Other Asset Classes 15-Year 10-Year 5-Year 3-Year 2006 2007 2008 2009 2010 2011 2012 2013 9M 2014 1 1 1 1 CAGR CAGR CAGR CAGR REIT Commodities IG Bonds MLP Index EPD EPD EPD EPD REIT Small Cap Equity…
  30. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 30
    NONGAAP RECONCILIATIONS ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
  31. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 31
    GROSS OPERATING MARGIN We evaluate segment performance based on the nonGAAP financial measure of gross operating margin. Gross operating margin (either in total or by individual segment) is an important performance measure of the core…
  32. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 32
    ADJUSTED EBITDA Adjusted EBITDA is commonly used as a supplemental financial measure by our management and external users of our financial statements, such as investors, commercial banks, research analysts and ratings agencies to…
  33. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 33
    DISTRIBUTABLE CASH FLOW Distributable cash flow is an important nonGAAP financial measure for our limited partners since it serves as an indicator of our success in providing a cash return on investment. Specifically, this financial…
  34. RBC Capital Markets MLP Conference – Enterprise Products Partners LP – slide 34
    CONTACT INFORMATION Randy Burkhalter Vice President, Investor Relations (713) 3816812 rburkhaltereprod.com ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 35

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