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3Q 2014 – DCP Midstream Partners Lp

DCP Midstream Partners Lp · Nov 6, 2014 · 15 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. 3Q 2014 – DCP Midstream Partners Lp – slide 1
    THIRD QUARTER 2014 Earnings Review 11/6/2014
  2. 3Q 2014 – DCP Midstream Partners Lp – slide 2
    Q3 2014 Results Q3 Q3 YTD YTD Key highlights: (MM) 2013 2014 2013 2014 16th consecutive distribution Adjusted EBITDA 92 149 62% 276 397 44% increase, now at 3.08 annualized (1) DCF 72 144 100% 217 359 65% Key Q3 earnings…
  3. 3Q 2014 – DCP Midstream Partners Lp – slide 3
    Capital & Distribution Growth Outlook 2.0B 3 - 5B 2014 Distribution Outlook 2014e 2016e potential 2014e 2016e potential organic projects dropdowns from DCP 2014 distribution 2014 DCF target growth target 435-450MM 7% 33%Sand…
  4. 3Q 2014 – DCP Midstream Partners Lp – slide 4
    Natural Gas Services Update Natural Gas Services Strong growth from expanding asset base in the Eagle Ford, East Texas, DJ Basin & Discovery Eagle Ford volumes up 20% from Q313 DJ System driving strong results Eagle Ford System…
  5. 3Q 2014 – DCP Midstream Partners Lp – slide 5
    NGL Logistics & Wholesale Propane Update NGL Logistics Sand Hills and Southern Hills pipelines ramping up and expanding capacity Sand Hills (100% view) Southern Hills (100% view) Pipeline Throughput (MBPD) Pipeline Throughput…
  6. 3Q 2014 – DCP Midstream Partners Lp – slide 6
    Consolidated Financial Results Q3 2014 Adjusted EBITDA (MM) YTD 2014 Adjusted EBITDA (MM) 61 million increase 140 million increase (1) (1) Q3 2013 Q3 2014 YTD 2013 YTD 2014 72(2) Distributable Cash Flow 144 100% 217(2)…
  7. 3Q 2014 – DCP Midstream Partners Lp – slide 7
    Q3 2014 Segment Adjusted EBITDA (MM) Natural Gas Services Eagle Ford and DJ Basin systems driving growth in Natural Gas Services 46 million increase Wholesale Growth in NGL (1) Propane reflects Logistics driven lower unit by…
  8. 3Q 2014 – DCP Midstream Partners Lp – slide 8
    Financial Position & 2014 Sensitivities Financial positioning is key to growth strategy Liquidity and Credit Metrics (9/30/14) Strong capital structure and investment grade Effective Interest Rate 3.8% credit ratings Credit Facility…
  9. 3Q 2014 – DCP Midstream Partners Lp – slide 9
    Summary Distribution Growth Executing Strategy Successfully executing growth Delivering strong results (MM) Q313 Q314 Adjusted EBITDA 92 149 62% DCF 72 144 100% Progress on 2014 Outlook Leverage Ratio 3.4x Quality pipeline of…
  10. 3Q 2014 – DCP Midstream Partners Lp – slide 10
    Supplemental Information Appendix 11
  11. 3Q 2014 – DCP Midstream Partners Lp – slide 11
    2014 Sensitivities 2014 Margin 95% Fee-Based/Hedged(1) Fee-based margin percentage is up 5% from Fee-Based/Hedged 2013 95% Estimated 2014 Commodity Sensitivities Amount Impact to of Adjusted Commodity Change EBITDA…
  12. 3Q 2014 – DCP Midstream Partners Lp – slide 12
    Commodity Hedge Position Overall 95% fee-based/hedged in 2014 55% fee-based 45% commodity is 90% hedged Virtually all 2014 hedges are direct commodity price hedges Current Commodity Hedge Position Hedge Price 2014 2015 2016 NGL…
  13. 3Q 2014 – DCP Midstream Partners Lp – slide 13
    Consolidated Financial Results Three Months Ended Nine Months Ended September 30, September 30, ( in millions) 2014 2013 2013 2014 2013 2013 As Reported As Reported Sales, transportation, processing and other revenues 827 721 704…
  14. 3Q 2014 – DCP Midstream Partners Lp – slide 14
    Commodity Derivative Activity Three Months Ended Nine Months Ended September 30, September 30, ( in millions) 2014 2013 2014 2013 Non-cash gains (losses) commodity derivative 17 (50) (26) (2) Other net cash hedge settlements received…
  15. 3Q 2014 – DCP Midstream Partners Lp – slide 15
    Balance Sheet As Reported September 30, December 31, December 31, 2014 2013 2013 (Millions) Cash and cash equivalents 97 12 12 Other current assets 476 491 491 Property, plant and equipment, net 3,274 3,046 3,005 Other long…

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