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Salient Partners MLP Investor Conference – Enterprise Products Partners LP

Enterprise Products Partners LP · Apr 12, 2012 · 25 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. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 1
    Salient Partners MLP Investor Conference April 12, 2012 Michael A. Creel www.enterpriseproducts.com President and CEO All rights reserved. Enterprise Products Partners L.P.
  2. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 2
    Key Investment Considerations Largest publicly traded energy partnership in U.S. with an enterprise value of approximately 59 billion Integrated midstream energy system serving producers and consumers of natural gas, NGLs, crude oil,…
  3. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 3
    EPD System Map at IPO Asset Overview 500 miles of NGL and petrochemical pipelines 35 MMBbls of NGL storage capacity Al abama 6 fractionators Mi ssissippi NGL import / export terminal Butane isomerization complex Octane enhancement…
  4. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 4
    EPD Portfolio of Integrated Assets Major Asset Overview 50,600 miles of natural gas, NGL, crude oil, refined 20 NGL & Propylene fractionators products and petrochemical pipelines 6 offshore hub platforms 190 MMBbls of NGL, refined…
  5. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 5
    Leading Business Positions Across Midstream Energy Value Chain Midstream Energy Services Natural Gas Natural Gas Pipelines Storage Pipelines NGL Exports Ethane Propane Natural Gas Butane Pipelines Gas Processing Iso-Butane…
  6. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 6
    Geographic and Business Diversification Provide Multiple Earnings Streams 3.9 Billion Gross Operating Margin For year ended December 31, 2011 NGL Pipelines & Services (56%) Approximately 73% Fee Based Natural gas processing & related…
  7. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 7
    No GP IDRs Results in Lower Cost of Equity Capital (1) 50% Selected Pipeline and Terminal MLPs 45% 40% GP Share of Current Distributions 37% 30% 27% 29% 24% 25% 21% 20% 17% 19% 16% 12% 13% 10% 8% 0% 0% 0% 0% 0% EPD EPD…
  8. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 8
    History of Financial Discipline While Executing Growth Strategy (1) Total Growth Capex & Debt Leverage Funded growth investments 4.0 through issuance of debt 4.7x 3.5 3.6 3.5 and equity, retained DCF 4.5x and proceeds from…
  9. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 9
    (1) Record Operating Performance 15 Natural Gas Pipeline Volumes Liquids Pipeline Volumes 4,181 14.3 4,200 13 12.7 3,990 4,000 4,000 11.9 11.0 11 3,800 10.1 TBtu/d 3,704 MBPD 9.4 9 3,600 3,574 Offshore 3,406 7…
  10. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 10
    Drives Strong Financial Results Gross Operating Margin Distributable Cash Flow 4.0 3.9 4.0 3.7 3.3 3.0 2.9 3.0 2.6 2.3 Billions Billions 2.0 2.0 1.8 2.0 1.6 1.4 1.0 1.0 1.0 1.0 0.0 0.0 2006 2007 2008 2009 2010 2011…
  11. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 11
    Visibility to Growth 7.5 Billion Growth Projects Under Construction Investment in new natural gas, NGLs and crude oil infrastructure to support development of shale plays Haynesville / Bossier shale Eagle Ford shale Rockies Permian…
  12. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 12
    Continually Evaluating Emerging Shale / Non-Conventional Plays Williston Basin Appalachian Basin Bakken Appalachian Basin Marcellus Utica Jonah Powder River Basin Pinedale Niobrara Michigan Basin Uinta Basin Antrim Mancos Denver…
  13. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 13
    Eagle Ford Shale Projects All rights reserved. Enterprise Products Partners L.P. 14
  14. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 14
    MAPL Rocky Mountain NGL Expansion Non-Conventional Plays Driving Expansion Shippers executed 10-year, ship-or-pay transportation agreements for initial commitment of 62.5 MBPD of NGL capacity 80-mile, 16-inch loop between Driven by…
  15. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 15
    Texas Express NGL Pipeline Joint venture between Enterprise (45%), Enbridge (35%) and Anadarko (20%) Anadarko / Elk City Gathering Build 580 miles of new 20 pipe from Skellytown to Mont Belvieu Initial capacity: 250 MBPD…
  16. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 16
    Appalachia to Texas (ATEX) Express P/L Transport Ethane from Marcellus / Utica Shale 1,230-mile pipeline with initial capacity up to 190 MBPD Will include 369 miles of new 16 pipe from PA to IN Reverse existing EPD 16 pipe from IN…
  17. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 17
    Seaway Crude Oil Pipeline Relieves Cushing Bottleneck Starting in 2012 EPD / ENB 50 / 50 JV to reverse flow of Seaway and expand capacity to provide Gulf Coast access to Mid-Continent, Bakken and Canadian shippers Phase I Reverse…
  18. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 18
    EPD Financial Snapshot Unit Price / Yield Debt Capitalization (as of December 31, 2011) EPD LP Unit Price (April 5, 2012) 50.69 Senior Unsecured Debt (Billions) 13.0 Current Annualized Cash Distribution Rate 2.48 Junior Subordinated…
  19. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 19
    EPD and AMZ MLP Index Attractive Total Return vs. Other Asset Classes EPD Total Return vs. Other Asset Classes Since December 31, 1998 EPD 1,618% AMZ 735% S&P 500 46% Source: Bloomberg L.P. Past results may not be…
  20. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 20
    EPD and AMZ MLP Index Attractive Total Return vs. Other Asset Classes 10-Year 5-Year 3-Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 3M 2012 1 1 1 CAGR CAGR CAGR Commodities EPD EPD EPD EPD Commodities Small…
  21. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 21
    Non-GAAP Reconciliations All rights reserved. Enterprise Products Partners L.P.
  22. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 22
    Non-GAAP Financial Measures This presentation utilizes the Non-GAAP financial measures of Gross Operating Margin, Adjusted EBITDA and Distributable Cash Flow. Gross Operating Margin and Adjusted EBITDA have been presented as if EPD were…
  23. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 23
    Non-GAAP Reconciliations Enterprise Products Partners L.P. Gross Operating Margin (Dollars in millions) For the Year Ended December 31, 2006 2007 2008 2009 2010 2011 Gross operating margin by segment: NGL Pipelines & Services…
  24. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 24
    Non-GAAP Reconciliations Enterprise Products Partners L.P. Adjusted EBITDA (Dollars in millions) For the Year Ended December 31, 2006 2007 2008 2009 2010 2011 Net income 772.4 762.0 1,145.1 1,140.3 1,383.7 2,088.3 Adjustments to…
  25. Salient Partners MLP Investor Conference – Enterprise Products Partners LP – slide 25
    Non-GAAP Reconciliations Enterprise Products Partners L.P. Distributable Cash Flow (Dollars in millions) For the Year Ended December 31, 2006 2007 2008 2009 2010 2011 Net income attributable to partners 601.1 533.6 954.0 1,030.9…

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