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Q4 2012 RESULTS – Williams Companies, Inc.

Williams Companies, Inc. · Jul 30, 2013 · 21 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. Q4 2012 RESULTS – Williams Companies, Inc. – slide 1
    Williams and Williams Partners L.P. Fourth Quarter 2012 Earnings Alan Armstrong, Chief Executive Officer February 20, 2013 2013 The Williams Companies, Inc. All rights reserved.
  2. Q4 2012 RESULTS – Williams Companies, Inc. – slide 2
    Rewarding investors now and expanding our businesses to create continuing value growth, resilience Reporting solid 4Q in face of NGL margins off 46% from prior year Reaffirming strong cash-dividend and cash-distribution guidance…
  3. Q4 2012 RESULTS – Williams Companies, Inc. – slide 3
    4Q: Growing fee-based revenues and Geismar providing offset to dramatic drop in NGL margins Williams Williams Partners Adjusted Segment Profit + DD&A Up Distributable Cash Flow Up About 18MM or 3% vs. 3Q 89MM or 28% vs. 3Q 3Q…
  4. Q4 2012 RESULTS – Williams Companies, Inc. – slide 4
    Challenging 4Q 12 frac spread Natural Gas Henry Hub Ethane 5.50 2 0 1 0 2 0 1 1 2 0 1 2 0.90 2 0 1 0 2 0 1 1 2 0 1 2 5.00 0.80 4.50 0.70 / MMBtu / gallon 4.00 4Q 12 0.60 3.39 3.50 0.50 3.00 4Q 12 0.40 0.28 2.50 0.30…
  5. Q4 2012 RESULTS – Williams Companies, Inc. – slide 5
    Sharply lower ethane, propane price assumptions Natural Gas Henry Hub Ethane / MMBtu / gallon 4.50 High 0.80 Midpoint 0.70 4.00 3Q Guidance Midpoint 0.60 3Q Guidance 3.50 Low Midpoint 0.50 High 3.00 Midpoint 0.40 2.50 0.30…
  6. Q4 2012 RESULTS – Williams Companies, Inc. – slide 6
    Illustrating the strength of Geismars natural ethane hedge for WPZ in 2013 600 Ethane Frac Spread* Ethylene Crack Spread** For 2013 88MM* unfavorable difference in total gross 500 margin between zero and 50 cent ethane frac spread…
  7. Q4 2012 RESULTS – Williams Companies, Inc. – slide 7
    Growing fee-based business supports dividend growth even as NGL margin declines millions 2011 2012 2013 2014 4,000 Gross margin 3,500 Gross margin 3,000 Gross Gross margin margin1 2,500 Adjusted Segment Profit2 + DD&A2…
  8. Q4 2012 RESULTS – Williams Companies, Inc. – slide 8
    In-guidance projects bring large-scale infrastructure to the Marcellus and Utica WPZ Marcellus & Utica Shale Overview Susquehanna Supply Hub 2015* 3 Bcf/d takeaway capacity Laurel Mountain Midstream 2014* CHANGE MAP 900 MMcf/d…
  9. Q4 2012 RESULTS – Williams Companies, Inc. – slide 9
    Building scale in the Marcellus and Utica through strategic investments Steady and significant Expected gathering volume fee-based volume growth growth and upside capacity 1,600 5.5 Excludes Marcellus/Utica 5.0 investments in:…
  10. Q4 2012 RESULTS – Williams Companies, Inc. – slide 10
    ACMP ownership interest expect rapid growth in business and cash distributions, including IDRs WMB owns 50% of Access GP and 24% of LP Units Source: Access Midstream Partners February 2013 Investor Presentation 12 Williams…
  11. Q4 2012 RESULTS – Williams Companies, Inc. – slide 11
    Strategic, large-scale, primarily fee-based cash flows coming in service Project Description and Capex in Millions* Expected Remaining Time to In-Service Date (Excludes ACMP Projects) WPZ - Utica JV (Blue Racer Midstream) WPZ -…
  12. Q4 2012 RESULTS – Williams Companies, Inc. – slide 12
    Williams and Williams Partners premier energy infrastructure investments Natural gas infrastructure supercycle Large-scale positions, strong competitive advantages Deep, diverse, long-range growth opportunities provide…
  13. Q4 2012 RESULTS – Williams Companies, Inc. – slide 13
    WMBNon-GAAP Williams WMB Non-GAAP NGL &Reconciliations Petchem Reconciliations Services 2013 The Williams Companies, Inc. All rights reserved.
  14. Q4 2012 RESULTS – Williams Companies, Inc. – slide 14
    WMB Non-GAAP Reconciliations WMB non-GAAP reconciliation schedule Reconciliation of Income (Loss) from Continuing Operations Attributable to The Williams Companies, Inc. to Adjusted Income (UNAUDITED) 2011 2012 (Dollars in…
  15. Q4 2012 RESULTS – Williams Companies, Inc. – slide 15
    WMB Non-GAAP Reconciliations WMB non-GAAP reconciliation schedule cont. Adjustments below segment profit (loss) Early debt retirement costs - Corporate - - - 271 271 - - - - - Gulf Liquids litigation contingency interest accrual…
  16. Q4 2012 RESULTS – Williams Companies, Inc. – slide 16
    WMB Non-GAAP Reconciliations Non-GAAP reconciliation schedule adjusted segment profit (loss) Reconciliation of Segment Profit (Loss) to Adjusted Segment Profit (Loss) (UNAUDITED) 2011* 2012 (Dollars in millions) 1st Qtr 2nd Qtr…
  17. Q4 2012 RESULTS – Williams Companies, Inc. – slide 17
    WMB Non-GAAP Reconciliations Segment profit guidance reported to adjusted Dollars in millions 2013 Guidance 2014 Guidance Low Midpoint High Low Midpoint High Reported segment profit: Williams Partners (WPZ) 1,625 1,838 2,050…
  18. Q4 2012 RESULTS – Williams Companies, Inc. – slide 18
    WPZNon-GAAP Williams WPZ Non-GAAP NGL & Petchem Reconciliations Services Reconciliations 2013 The Williams Companies, Inc. All rights reserved.
  19. Q4 2012 RESULTS – Williams Companies, Inc. – slide 19
    WPZ Non-GAAP Reconciliations Reconciliation of Non-GAAP distributable cash flow to GAAP net income 2011* 2012 (Dollars in millions, except coverage ratios) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr* 2nd Qtr* 3rd Qtr* 4th Qtr…
  20. Q4 2012 RESULTS – Williams Companies, Inc. – slide 20
    WPZ Non-GAAP Reconciliations Adjusted segment profit reconciliation 2011* 2012 (Dollars in millions) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr* 2nd Qtr* 3rd Qtr* 4th Qtr Year Gas Pipeline 175 152 170 176 673 180 147 155 195…
  21. Q4 2012 RESULTS – Williams Companies, Inc. – slide 21
    WPZ Non-GAAP Reconciliations Segment profit guidance reported to adjusted Dollars in millions 2013 Guidance 2014 Guidance Low Midpoint High Low Midpoint High Reported segment profit: Midstream 900 1,088 1,275 1,525 1,775…

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