Connections for Americas Energy Jefferies 2014 Global Energy Presentation Title Conference Presentation Subtitle 11/10/2014 November 11, 2014 Crestwood Midstream Partners LP Crestwood Equity Partners LP
Flexible Ownership Structure Two publicly traded MLPs provides strategic flexibility to enhance value Crestwood / Inergy mergers in June & October 2013 created a First Reserve/Crestwood new platform Holdings CEQP Public Well…
Operations and Assets in Key Shale Plays Organized in four operating regions to ensure consistency and synergy Natural Gas 1.4 Bcf/d transportation 2.5+ Bcf/d gathering 80 Bcf storage 615 MMcf/d processing NGLs and Crude Oil 350…
Operations across the Midstream Value Chain Cash flow diversity across operating segments and geography increases stability 2014 EBITDA Operating Segments Regional Footprint Operating Assets West 4% West Other 4% US Salt Gathering…
Fixed Fee Contracts provide Cash Flow Stability Limited commodity exposure and long-term contract duration provide stable cash flows Cash flow stability with 87% of EBITDA from 2014 EBITDA fixed-fee and firm contracts COLT Hub rail…
Improving Consolidated Results Since Merger Sequential Consolidated LTM EBITDA growth; record natural gas and crude volumes ( MMs) 2013 2014 Segment EBITDA (1) Segment Adjusted EBITDA 3Q (2) 4Q 1Q 2Q 3Q Gathering and Processing 43.2…
Improving Balance Sheet Outlook Recent equity issuance improves credit metrics; no near-term debt maturities December 31, September 30, BB/Ba3 credit rating; stable outlook ( in millions) 2013 2014 500 MM Class A preferred equity…
Improving DCF and Leverage Outlook Since closing the Crestwood / Inergy CMLP merger, Crestwood has invested cumulative ( millions) capital of 1.5 billion Capital largely allocated to core growth assets in Marcellus, Bakken and…
3Q 2014 Operations Highlights Natural Gas Record Marcellus gathering & compression volumes; 2014 capital projects completed ahead of schedule; 875 MMcf/d capacity going into 2015 Strong utilization of NE storage & transportation by…
Marcellus / Utica Region Core growth opportunity in the most prolific natural gas play in history Regional Commentary (1) 20 Bcf/d and 1 MMBbl/d NGLs out of Marcellus / Utica by 2020 timeframe Distribution constraints for natural…
SW Marcellus (Antero) 3Q 2014 Update Antero Midstream Crestwood Dedication Area Dedication Area Crestwood Dedication Area Antero Crestwood 2012 Agreements 20-year, fixed-fee gathering and compression services w/ annual escalators…
NE Marcellus S&T Expansion Projects North-South Millennium Interconnect Expansion for additional 200 MMcf/d of firm 200 MMcf/d North-South transportation service Expansion Project Capex 10.9 MM; sub 2x EBITDA multiple 117 MMcf/d…
NE Marcellus Proposed MARC II Pipeline Project Proposed 31-mile, 30 pipeline to connect MARC I to the proposed PennEast Pipeline Expected pipeline design capacity of 1.0 Bcf/d, scalable from 0.5 Bcf/d to MARC II Pipeline 1.8…
Bakken / PRB Niobrara Region Value chain strategy at work in Bakken and PRB Niobrara Regional Commentary (1) Bakken Shale the premier crude oil shale play in North America 1.5 MMBbls/d by 2020 194 active rigs running in the Bakken…
Crude Price Impact on Bakken Development North Dakota Oil and Gas Industry Impacts Study 2014-2019: KLJ, Inc Report commissioned by North Dakota legislature to forecast the level of production and the trends that impact production…
Bakken Arrow Gathering Crestwoods Bakken crude oil value chain strategy begins with Arrow Gathering Acquired in November 2013 150,000 acre dedication on Fort Berthold Indian Reservation (FBIR); long-term crude, rich-gas and…
Bakken COLT Hub and Connector COLT Hub links Bakken crude supply to prime markets; currently the leading rail terminal in North Dakota by volume Sourcing Capacity Storage Capacity Takeaway Capacity 290,000 Bbls/d 1.2 MM Bbls…
Bakken Arrow/COLT 3Q 2014 Update 220 MBbls/d in 3Q via gathering, trucking, rail loading and pipe Arrow Gathering Update Arrow Gathering Continuing volume increases following severe winter weather in 1Q 2014 76 wells connected YTD…
PRB Niobrara Gathering, Processing & CBR Expanding gathering, processing and crude-by-rail (CBR) assets in the Powder River Basin (PRB) to serve increasing production Jackalope Gas Gathering 20-year 15% cost-of-service agreement and…
Barnett Shale Gathering & Processing Update New drilling activity & successful work-over programs offsetting existing well decline rates Crestwood provides critical services to Quicksilver (KWK), Tokyo Gas and Eni under existing…
Tres Palacios Storage & Pipeline Update Exports to Mexico to Grow to 4.0 Bcf/d by 2019 Strategic Process Update Long term Gulf Coast storage fundamentals remain attractive Conducted sales/JV process with strategic storage…
Organic Expansion Drives Long-Term Growth 2.0 billion of identified potential expansion opportunities around asset footprint Services across the full value chain E Diverse asset footprint across A all premier shale plays Multiple…
Key Investor Highlights Financial stability with visible growth through execution of value chain strategy Attractive operations in premier US natural gas, liquids-rich and crude oil shale plays Strategically located assets in…
Crestwood Midstream Partners LP Non-GAAP Reconciliations CRESTWOOD MIDSTREAM PARTNERS LP (FORMERLY INERGY MIDSTREAM, L.P.) Segment Data (in millions) (unaudited) 2 0 14 2 0 13 3 rd Q t r 2 nd Q t r 1s t Q t r 4th Qtr 3 rd Q t r…
Crestwood Midstream Partners LP Non-GAAP Reconciliations CRESTWOOD MIDSTREAM PARTNERS LP (FORMERLY INERGY MIDSTREAM, L.P.) Reconciliation of Non-GAAP Financial Measures (in millions) (unaudited) 2 0 14 2 0 13 3 rd Q t r 2 nd Q t r…
Crestwood Equity Partners LP Non-GAAP Reconciliations CRESTWOOD EQUITY PARTNERS LP (FORMERLY INERGY, L.P.) Segment Data (in millions) (unaudited) 2 0 14 2 0 13 3 rd Q t r 2 nd Q t r 1s t Q t r 4th Qtr 3 rd Q t r Gathering and…
Crestwood Equity Partners LP Non-GAAP Reconciliations CRESTWOOD EQUITY PARTNERS LP (FORMERLY INERGY, L.P.) Reconciliation of Non-GAAP Financial Measures (in millions) (unaudited) 2 0 14 2 0 13 3 rd Q t r 2 nd Q t r 1s t Q t r 4th…
Loading...
