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BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc.

Williams Companies, Inc. · Mar 7, 2012 · 28 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. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 1
    Barclays Capital Investment Grade Energy and Pipeline Conference Don Chappel Chief Financial Officer March 7, 2012 2012 Williams Partners L.P. All rights reserved.
  2. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 2
    Highlights 42% increase in full-year distributable cash flow attributable to partnership operations Strong cash distribution coverage ratio of 1.41x Higher fee revenues, NGL margins drive strong performance 2010-11 acquisitions…
  3. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 3
    24% growth in full-year adjusted consolidated segment profit Midstream 34% higher full-year adjusted segment profit 12% growth in fee-based revenues NE Pennsylvania Marcellus ramping up gathering volumes nearly doubled in 2011…
  4. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 4
    Corporate Solid segment profit + DD&A growth Adjusted Segment Profit1 + DD&A (midpoint of guidance, dollars in millions) 4,000 Williams Partners 3,500 +33% 3,000 Increase 2,500 2,000 1,500 4-Yr Total 10,073 3-Yr CAGR…
  5. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 5
    Williams Partners L.P. (WPZ) 78% of business is low-risk, fee-based WPZ Gross Margin* 2010 2013 Forecast Total Gross Margin: 3.1B Total Gross Margin: 3.8B 6% 6% Gas Pipeline 16% Demand Revenues 18% Non-demand Revenues…
  6. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 6
    Strong growth and coverage outlook Adjusted Segment Profit Distributable Cash Flow Attributable to Partnership Operations 2,400 2,200 2,200 2,000 1,800 2,000 1,600 1,800 1,400 1,600 1,200 Guidance 1,000 1,400 2010 2011 2012…
  7. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 7
    Visibility to growth in all areas Growth Capital Spending by Supply and Market Areas 2012-2013 2012-2016 3,530-4,090 8,390-10,190 15,465-17,715 In guidance In guidance Under negotiation In guidance Under negotiation Potential…
  8. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 8
    3 Bcf/d Susquehanna Supply Hub Creating significant supply hub with access to best markets Planning access to 3 Bcf/d of takeaway capacity by 2015 Key customers include Cabot, WPX Energy, Carrizo Susquehanna Supply Hub Key…
  9. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 9
    Deepwater Gulf of Mexico - WPZ Keathley Canyon Connector Major expansion of the central Gulf of Mexico (Discovery) gas gathering system Over 200 miles of new large diameter deepwater gas pipeline Originating in southeast…
  10. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 10
    WPZ Midstream Gulfstar FPS Tubular Bells Agreements in place with Hess and Chevron Services include production handling, export pipeline, oil and gas gathering and gas processing services Location is eastern Gulf of Mexico,…
  11. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 11
    WPZ Midstream Growing our franchise western assets Expansion of the existing Parachute plant complex Additional 350MMcf/d high ethane recovery, cryogenic processing plant Capable of recovering 15-18 Mbp/d, with ethane…
  12. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 12
    Visibility to 3.5 billion in growth N Seattle Lateral Constitution NE Connector/ Nov. 12 March 2015 Rockaway Lateral As early as April 14 S Seattle Lateral NE Supply Link 2013 Nov. 13 Atlantic Access Jackson Prairie As early…
  13. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 13
    Atlantic Access connects Marcellus to Transco markets (proposed) 1,800 MDth/d of firm transportation on 3 firm paths: Rivervale Natrium Path (900 MDth/d), Natrium Plant (DTI), Ft. Butler Beeler Plant (Caiman) and Majorsville Plant…
  14. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 14
    Superior investment Higher fee revenues, NGL margins drive strong performance Visibility to significant growth throughout the businesses Expect continued strength in distributable cash flow even with conservative commodity price…
  15. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 15
    2012 Williams Partners L.P. All rights reserved.
  16. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 16
    Appendix 2012 Williams Partners L.P. All rights reserved.
  17. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 17
    Williams Partners L.P. (WPZ) Price assumptions and financial impacts 2011 2012 Guida nce 2013 Guida nce 2014 G Actual Low Midpoint High Low Midpoint High Crude Oil - WTI 94.01 90.00 100.00 110.00 90.00 100.00 110.00 Natural…
  18. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 18
    Adjusted segment profit and DD&A guidance 2012 2013 Dollars in millions Guidance Guidance Adjusted Segment Profit: Midstream 1,050 - 1,500 1,150 - 1,600 1,450 1,100 - 1,550 Gas Pipeline 680 - 720 700 - 750 Total Adjusted…
  19. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 19
    Williams Partners L.P. (WPZ) Capital expenditures guidance 2012 2013 Dollars in millions Guidance Guidance Maintenance Capex: Midstream 115 - 135 50 - 70 Gas Pipeline 330 - 380 300 - 350 Total Maintenance Capex 445 - 515 350…
  20. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 20
    Williams Partners L.P. (WPZ) 2012-2041 WPZ debt amortization WPZ Consolidated Debt (Dollars in millions) 2,200 2,100 2,000 1,918 1,800 1,600 1,400 1,250 1,200 1,000 750 785 800 600 500 500 375 600 400 325 668…
  21. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 21
    Liquidity position WPZ Proceeds from WPZs 500mm Liquidity (millions) 12/31/2011 bond offering in November repaid revolver borrowings Cash and cash equivalents 163 WPZ has no significant debt Available revolver capacity 2,000…
  22. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 22
    WPZ Midstream Gas & Liquids Commodity price risk management Weighted Volumes Designated as hedging instruments Period Average Hedged Hedge Price (per gallon) NGL sales - isobutane (million gallons) Feb - Dec, 2012 12.8…
  23. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 23
    Non-GAAP Reconciliations 2012 Williams Partners L.P. All rights reserved.
  24. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 24
    WPZ Non-GAAP Reconciliations WPZ distributable cash flow reconciliation Dollars in millions 4th Quarter Year-to-Date 2011 2010 2011 2010 Net income 391 286 1,378 1,101 Depreciation and amortization 152 148 611 568 Non-cash…
  25. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 25
    WPZ Non-GAAP Reconciliations WPZ coverage ratios Dollars in millions, except coverage ratios 4th Quarter Year-to-Date 2011 2010 2011 2010 Net income 391 286 1,378 1,101 Distributable cash flow attributable to partnership…
  26. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 26
    WPZ Non-GAAP Reconciliations Net income & distributable cash flow Dollars in millions 2012 Guidance 2013 Guidance Low Midpoint High Low Midpoint High Net Income 1,160 1,400 1,640 1,260 1,523 1,785 DD&A 650 670 690 680 700 720…
  27. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 27
    WPZ Non-GAAP Reconciliations Segment profit guidance reported to adjusted Dollars in millions 2012 Guidance 2013 Guidance Low Midpoint High Low Midpoint High Reported segment profit: Midstream 1,050 1,275 1,500 1,150 1,375 1,600…
  28. BARCLAYS CAPITAL INVESTMENT GRADE ENERGY AND PIPELINE CONFERENCE – Williams Companies, Inc. – slide 28
    WPZ Non-GAAP Reconciliations Adjusted segment profit reconciliation Reconciliation of GAAP Segment Profit to Non-GAAP Adjusted Segment Profit (UNAUDITED) 2010 2011 (Dollars in millions) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st…

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