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BOA Global Energy Conference – Enterprise Products Partners LP

Enterprise Products Partners LP · Nov 13, 2014 · 36 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. BOA Global Energy Conference – Enterprise Products Partners LP – slide 1
    ENTERPRISE PRODUCTS PARTNERS L.P. BANK OF AMERICA GLOBAL ENERGY CONFERENCE November 13, 2014 Bryan Bulawa SVP and Treasurer ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
  2. BOA Global Energy Conference – Enterprise Products Partners LP – slide 2
    ENTERPRISE PRODUCTS PARTNERS L.P. (NYSE: EPD) EPD is one of the largest U.S. publicly traded energy partnerships with an enterprise value of more than 90 billion 56th on Fortune 500 One of the largest integrated midstream energy…
  3. BOA Global Energy Conference – Enterprise Products Partners LP – slide 3
    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…
  4. BOA Global Energy Conference – Enterprise Products Partners LP – slide 4
    GEOGRAPHIC AND BUSINESS DIVERSIFICATION PROVIDE MULTIPLE EARNINGS STREAMS (1) 5.2 Billion Gross Operating Margin 4 Year Growth Capital Allocation 20132016E For 12 months ended September 30, 2014 12.5 Billion 15% 15% 13%…
  5. BOA Global Energy Conference – Enterprise Products Partners LP – slide 5
    VISIBILITY TO GROWTH: 20B PROJECTS Recently Completed / Under Construction Projects completed since 2011: 12.7 Billion Organic Growth Capital Projects 4.5 6.3B Under 12.7B Completed approximately 3% under budget Construction…
  6. BOA Global Energy Conference – Enterprise Products Partners LP – slide 6
    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…
  7. BOA Global Energy Conference – Enterprise Products Partners LP – slide 7
    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…
  8. BOA Global Energy Conference – Enterprise Products Partners LP – slide 8
    FUNDAMENTALS OVERVIEW ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
  9. BOA Global Energy Conference – Enterprise Products Partners LP – slide 9
    UNCONVENTIONAL / SHALE PLAYS Decades of DrillingDecades of Production POTENTIAL YEARS OF DRILLING IN COMMERCIAL PLAYS Bakken 40k to 100k locations 20 to 50 years Utica 95k to 160k locations Mancos / Niobrara 100 years 75k to…
  10. BOA Global Energy Conference – Enterprise Products Partners LP – slide 10
    U.S. NGL SUPPLY POTENTIAL ASSUMING SUFFICIENT MARKETS (MBPD) 136 128 ROCKIES OTHER 581 922 301 1,182 APPALACHIAN MIDCONTINENT 501 661 PERMIAN Current (1) NGL Components Current 2020 3,192 MBPD Ethane 1,377 2,509…
  11. BOA Global Energy Conference – Enterprise Products Partners LP – slide 11
    LOW GAS TO CRUDE SPREAD CONTINUING TO DRIVE U.S. NGL ADVANTAGE NYMEX Natural Gas Price as a % of Crude U.S. Ethane Crackers: Global Cost Advantage 140% Shale Gas Production Now Totals 50% 40 70 of Total Gas Production Oct2005…
  12. BOA Global Energy Conference – Enterprise Products Partners LP – slide 12
    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…
  13. BOA Global Energy Conference – Enterprise Products Partners LP – slide 13
    PRODUCERS DRIVEN TOWARDS SUPER RICH 5.36/Mcf 3% 4.29/Mcf 3.84/Mcf Source: EPD Fundamentals ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 14
  14. BOA Global Energy Conference – Enterprise Products Partners LP – slide 14
    NEW CRUDES AND CHANGING FLOWS EPDs Assets Are At The Center Of It All 6 Canada Heavy Bakken Light 5 4 2 3 1.5 1.5 0 0.9 0 2013 2020 2013 2020 6 Eagle Ford & Light Imports 4 Near 0 6 Permian Light 4 2 0.8 0.1 2 5 0…
  15. BOA Global Energy Conference – Enterprise Products Partners LP – slide 15
    PROJECTS OVERVIEW ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
  16. BOA Global Energy Conference – Enterprise Products Partners LP – slide 16
    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…
  17. BOA Global Energy Conference – Enterprise Products Partners LP – slide 17
    EPD PDH FACILITY UPDATE Capacity to produce up to 1.65 billion pounds per year of polymer grade propylene (25 MBPD) Will consume 35 MBPD of propane 100% of capacity is contracted under feebased contracts that average 15…
  18. BOA Global Energy Conference – Enterprise Products Partners LP – slide 18
    EXPORT CAPACITY: LINKING U.S. SUPPLIES TO GROWING GLOBAL DEMAND Beaumont Mont Oiltanking Belvieu Morgans Point ECHO Texas City Dock Terminal Freeport / Pipeline Corridors Jones Creek NGLs Refined Products Corpus…
  19. BOA Global Energy Conference – Enterprise Products Partners LP – slide 19
    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%…
  20. BOA Global Energy Conference – Enterprise Products Partners LP – slide 20
    EPD BOOKING CARGOES / BUILDING CAPACITY 2,000 LPG Cargoes Scheduled Through 2024 Historical & Booked Future LPG Loadings vs. Capacity 16 14 12 10 MMBbls 8 6 Existing Capacity: 7.5 MMBbls/mo 4 Expansion 1Q 2015: +1.5…
  21. BOA Global Energy Conference – Enterprise Products Partners LP – slide 21
    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…
  22. BOA Global Energy Conference – Enterprise Products Partners LP – slide 22
    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 Awaiting upstream pipeline connections Jones Creek to…
  23. BOA Global Energy Conference – Enterprise Products Partners LP – slide 23
    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 ECHO Genoa…
  24. BOA Global Energy Conference – Enterprise Products Partners LP – slide 24
    EPD REFINED PRODUCTS TERMINAL BEGINS OPERATIONS Capabilities ExxonMobil EPD facility located at the Port of Beaumont, TX Capable of loading Panamax vessels at rates up EPD Beaumont Terminal to 15,000 Bbls/hr EPD Beaumont 2.9…
  25. BOA Global Energy Conference – Enterprise Products Partners LP – slide 25
    FINANCIAL ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
  26. BOA Global Energy Conference – Enterprise Products Partners LP – slide 26
    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…
  27. BOA Global Energy Conference – Enterprise Products Partners LP – slide 27
    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…
  28. BOA Global Energy Conference – Enterprise Products Partners LP – slide 28
    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…
  29. BOA Global Energy Conference – Enterprise Products Partners LP – slide 29
    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…
  30. BOA Global Energy Conference – Enterprise Products Partners LP – slide 30
    LEADING MIDSTREAM ENERGY COMPANIES 100 6 90 Enterprise Value 2014E Capital Expenditures 86 76 4.7 75 4.1 4 3.5 3.3 Billions Billions 50 33 2.0 28 2 1.7 25 20 21 0.7 7 0.4 0 0 (1) (2) EPD KMP ETP WPZ PAA MMP EEP NS…
  31. BOA Global Energy Conference – Enterprise Products Partners LP – slide 31
    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…
  32. BOA Global Energy Conference – Enterprise Products Partners LP – slide 32
    NONGAAP RECONCILIATIONS ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. enterpriseproducts.com
  33. BOA Global Energy Conference – Enterprise Products Partners LP – slide 33
    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…
  34. BOA Global Energy Conference – Enterprise Products Partners LP – slide 34
    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…
  35. BOA Global Energy Conference – Enterprise Products Partners LP – slide 35
    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…
  36. BOA Global Energy Conference – Enterprise Products Partners LP – slide 36
    CONTACT INFORMATION Randy Burkhalter Vice President, Investor Relations (713) 3816812 rburkhaltereprod.com ALL RIGHTS RESERVED. ENTERPRISE PRODUCTS PARTNERS L.P. 37

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