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Corporate Update – Pembina Pipeline Corp

Pembina Pipeline Corp · Jan 31, 2014 · 42 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. Corporate Update – Pembina Pipeline Corp – slide 1
    PEMBINA PIPELINE CORPORATION CORPORATE UPDATE TSX: PPL, NYSE: PBA January, 2014 1
  2. Corporate Update – Pembina Pipeline Corp – slide 2
    VALUE PROPOSITION Efficient and well-managed assets Industry Leader One of Canada's largest and most diversified energy infrastructure companies Solid Business Track record of solid performance Strong balance sheet Platform Stable,…
  3. Corporate Update – Pembina Pipeline Corp – slide 3
    CORPORATE PROFILE Common Shares Outstanding (1) 315 million TSX Common Share Trading Price (1) 37.20 TSX 52-Week Trading Range (1) 28.47 - 37.59 Market Capitalization (2) 13.0 billion Total Enterprise Value (2) 14.7 billion…
  4. Corporate Update – Pembina Pipeline Corp – slide 4
    OUR BUSINESSES AT A GLANCE Oil Sands & Heavy Oil Gas Services Conventional Pipelines Midstream 1,650 km of pipelines 368 MMcf/d net natural 8,200 km network 73,000 bpd fractionator; with 880 mbpd of gas processing capacity;…
  5. Corporate Update – Pembina Pipeline Corp – slide 5
    IDEALLY LOCATED ASSETS Gas Processing Plant Redwater Fractionator Midstream Storage Facility Truck Terminal Rail Terminal Other Pembina Pipelines Third Party Pipelines Map for illustrative purposes only. 6
  6. Corporate Update – Pembina Pipeline Corp – slide 6
    CUSTOMER FOCUSED VALUE CHAIN Conventional Gas Services Pipelines Midstream Mainline Extraction Gas/HVP Value Chain: Gathering and processing Transportation on Conventional Pipelines Gathering, Fractionation at Production…
  7. Corporate Update – Pembina Pipeline Corp – slide 7
    STRONG MARKET PERFORMANCE 696 % total return* * Jan 1 2003 Dec 31, 2013 , inclusive of dividends reinvested 4 % CAGR in dividends per share* * 2002 - 2013 2.8 billion in dividends paid since inception* * To…
  8. Corporate Update – Pembina Pipeline Corp – slide 8
    SUPERIOR MARKET PERFORMANCE Pembina was the strongest performing Canadian energy infrastructure stock in 2013 Significant outperformance of both the composite index (+25%) and average peer performance (+20%) 45% 2013 Calendar Year…
  9. Corporate Update – Pembina Pipeline Corp – slide 9
    STRONG FINANCIAL PERFORMANCE 2.50 10 % CAGR in CFPS 2003 Q3 2013 20 % CAGR in operating margin 2003 Q3 2013 1,000 900 2.00 800 700 Cash Flow Per Share 1.50 600 Millions 500 1.00 400 300 0.50 200 100…
  10. Corporate Update – Pembina Pipeline Corp – slide 10
    2014 CAPITAL SPENDING PLAN 1,800 1.7 billion 4% 1,600 15% Total 2014 planned Capex = 1,400 9% 76% higher than 2013 and largest in 1,200 Pembinas history 21% 1,000 60% directed towards NGL-related value ( millions)…
  11. Corporate Update – Pembina Pipeline Corp – slide 11
    FEE-FOR-SERVICE FOCUSED CAPITAL PROGRAM OVERVIEW Capital Project Business Contract Type In-Service (CMM) Crude Expansions (Phase II) Conventional Pipelines Fee-for-Service 250 2014 NGL Expansions (Phase II) Conventional Pipelines…
  12. Corporate Update – Pembina Pipeline Corp – slide 12
    CONVENTIONAL PIPELINES 13
  13. Corporate Update – Pembina Pipeline Corp – slide 13
    INDUSTRY LEADER Operational excellence Fort McMurray 99% reliable Fort Proximal to prolific geology St John Dunvegan Taylor Valleyview Grande Swan Hills 2012 throughput: 456.3 Prairie Fort Saskatchewan mbpd Whitecourt…
  14. Corporate Update – Pembina Pipeline Corp – slide 14
    SOLID BUSINESS PLATFORM 100% of revenue is fee-for-service No direct commodity exposure Expansions underpinned by long-term contracts Established infrastructure captures incremental production from major resources plays…
  15. Corporate Update – Pembina Pipeline Corp – slide 15
    INCREASING THROUGHPUT Solid industry performance combined with strategically located assets has led to strength in Pembina's throughput profile 456 mbpd 489 mbpd 500 414 mbpd 393 mbpd 374 mbpd 400 (mbpd) 300 200…
  16. Corporate Update – Pembina Pipeline Corp – slide 16
    PHASE I & II EXPANSIONS Crude oil and condensate expansions (Peace Pipeline) Dawson Creek, Grande Prairie and Kaybob/Fox Creek areas of Alberta Pre- Phase II expansion Phase I Capacity 40,000 bpd 55,000 bpd 250,000 155,000…
  17. Corporate Update – Pembina Pipeline Corp – slide 17
    2 BILLION PHASE III EXPANSION 540 km new pipeline along certain segments from Taylor, BC to Edmonton, AB Core will entail new 270 km 24 diameter pipeline from Fox Creek to Edmonton, with expected initial capacity of 320 mbpd…
  18. Corporate Update – Pembina Pipeline Corp – slide 18
    2 BILLION PHASE III EXPANSION Underpinned by long-term transportation services agreements with 30 customers ten-year take-or-pay for volumes that average over 230,000 bpd or 75% of initial capacity steady, long-term EBITDA stream…
  19. Corporate Update – Pembina Pipeline Corp – slide 19
    OIL SANDS & HEAVY OIL 20
  20. Corporate Update – Pembina Pipeline Corp – slide 20
    INDUSTRY LEADER Operational excellence 99% reliable CNRL Horizon Diverse connectivity to Syncrude Fort various industry hubs McMurray for crude oil and Seal / Pelican Heavy Oil Cheecham Terminal condensate Superior…
  21. Corporate Update – Pembina Pipeline Corp – slide 21
    SOLID BUSINESS PLATFORM Contracts are long-life and provide flow through of operating expenses PIPELINE SYSTEM SYNCRUDE HORIZON CHEECHAM NIPISI & MITSUE Contracted 389,000 250,000(1) 136,000 127,000 Capacity (bpd) Contract Type…
  22. Corporate Update – Pembina Pipeline Corp – slide 22
    CORNERSTONE OPPORTUNITY Signed 35 million engineering support agreement CNRL HORIZON (ESA) Backstopped by KKD Oil Sands Partnership (KOSP a SYNCRUDE partnership between Statoil Canada Ltd. and PTTEP Canada Ltd.) FORT MCMURRAY…
  23. Corporate Update – Pembina Pipeline Corp – slide 23
    GAS SERVICES 24
  24. Corporate Update – Pembina Pipeline Corp – slide 24
    INDUSTRY LEADER Operational excellence; shallow cut 98% reliable Peace Pipeline Musreau High plant utilization: 85% Gas Plant Cutbank Regional wells contain total Gas Plant Kakwa Gas Plant NGL of 75 -100 bbls/MMcf…
  25. Corporate Update – Pembina Pipeline Corp – slide 25
    SOLID BUSINESS PLATFORM Strategically positioned infrastructure in active and emerging NGL rich plays Provide gas gathering, compression and shallow/deep cut processing services 100% fee-for-service revenue (no direct commodity…
  26. Corporate Update – Pembina Pipeline Corp – slide 26
    GAS SERVICES EXPANSIONS 1,198 MMcf/d 1,200 60,000 200 1,000 50,000 100 130 bpd (NGL and C5 output) 800 40,000 200 MMcf/d 600 30,000 50 400 200 20,000 Contracted Growth 200 10,000 318 Cutbank Musreau…
  27. Corporate Update – Pembina Pipeline Corp – slide 27
    GROWING FEE-FOR-SERVICE GAS PROCESSING: SATURN I, SATURN II & MUSREAU II Fully-contracted 200 MMcf/d Saturn I in-service Constructing 170MM Saturn II Firm-service contract for 130 MMcf/d (65% of total capacity) for a term of 10…
  28. Corporate Update – Pembina Pipeline Corp – slide 28
    MIDSTREAM NGL 29
  29. Corporate Update – Pembina Pipeline Corp – slide 29
    INDUSTRY LEADER Map for illustrative Redwater West: purposes only. Gas Processing Plant 73 mbpd NGL fractionator and 7.8 mmbbls Redwater Fractionator of finished product cavern storage Midstream Storage Facility Truck Terminal…
  30. Corporate Update – Pembina Pipeline Corp – slide 30
    STRONG DEMAND FOR OUR SERVICES: FULL NGL SERVICE OFFERING RFS II: Doubling size of Redwater at estimated cost of 415MM expected on-stream Q4 2015 Incremental 73,000 bpd of C2+ fractionation capacity Committed take-or-pay revenue…
  31. Corporate Update – Pembina Pipeline Corp – slide 31
    MIDSTREAM CRUDE OIL 32
  32. Corporate Update – Pembina Pipeline Corp – slide 32
    INDUSTRY LEADER Gas Processing Plant Develop and provide Redwater Fractionator Midstream Storage Facility terminal, hub & storage Truck Terminal Rail Terminal services to support the Midstream Operations Other Pembina Pipelines…
  33. Corporate Update – Pembina Pipeline Corp – slide 33
    SOLID BUSINESS PLATFORM Integrated revenue stream Liquids capture and terminaling support growth for other Pembina businesses Interconnectivity increases options for customers Access to five diluent streams through PNT…
  34. Corporate Update – Pembina Pipeline Corp – slide 34
    PEMBINA NEXUS TERMINAL Peace Pipeline Pembina Redwater Fractionators, CN & CP Rail Storage and Rail Facility Northern Pipeline (Crude Oil by Rail and Unit Train Capability) Opportunities Swan Hills Pipeline Nipisi Pipeline Heartland…
  35. Corporate Update – Pembina Pipeline Corp – slide 35
    STRONG FINANCIAL PLATFORM
  36. Corporate Update – Pembina Pipeline Corp – slide 36
    LIQUIDITY & ACCESS TO CAPITAL Access capital at attractive rates Total Debt Maturity Profile Sufficient funding for near-term projects 500 DRIP(1) currently raising 24 million per month 450 400 1.5 billion credit facility 350…
  37. Corporate Update – Pembina Pipeline Corp – slide 37
    SUMMARY
  38. Corporate Update – Pembina Pipeline Corp – slide 38
    SUMMARY Proven track record and management team Solid historical financial and operational performance under experienced leaders Demonstrated ability to execute on business plan and generate returns for shareholders Strategically…
  39. Corporate Update – Pembina Pipeline Corp – slide 39
    GOING THE DISTANCE BOB MICHALESKI Chief Executive Officer MICK DILGER President & Chief Executive Officer MICK DILGER President & Chief Operating Officer PETER ROBERTSON Senior Vice President, Chief Financial Officer PETER ROBERTSON…
  40. Corporate Update – Pembina Pipeline Corp – slide 40
    APPENDIX This presentation uses the terms total enterprise value (Pembina's market capitalization plus long-term debt and convertible debentures) and operating margin (revenue less operating expenses and product purchases), which are not…
  41. Corporate Update – Pembina Pipeline Corp – slide 41
    HEARTLAND HUB 42
  42. Corporate Update – Pembina Pipeline Corp – slide 42
    FULLY INTEGRATED SERVICES 43

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