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HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc.

Exterran Holdings, Inc. · Mar 29, 2011 · 39 slides

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Slides

  1. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 1
    Howard Weil 2011 Energy Conference March 29-30, 2011 Michael Anderson Senior Vice President and Chief Financial Officer
  2. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 2
    Exterran (NYSE: EXH) Company Overview Leading global provider Over 10,000 of full-service natural employees with gas compression and operations in surface production approximately 30 solutions countries EXH owns an equity…
  3. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 3
    Exterran Growth driven by: Comprehensive product and service offerings North America shale gas development International energy infrastructure demand Relationship with Exterran Partners Financial highlights and key…
  4. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 4
    A World of Energy Solutions COMPRESSION PROCESSING Gas Sales Reciprocating Dehydration Screw Dewpointing Sweetening NGL extraction Wells PRODUCTION Oil Sales NGL stabilization Separation Heating/Cooling Gas dehydration Oil…
  5. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 5
    Exterrans Unique Combination of Expertise BUILD, OWN & OPERATE SALES & SERVICES Contract operations Fabrication Aftermarket services Focused on providing speed to delivery for customer needs 5
  6. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 6
    Reasons for Customer Outsourcing to Exterran Speed to delivery Enhanced Superior run-time Eliminate hard Outsource asset production or asset management transportation Lower operating volumes investments costs Eliminate…
  7. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 7
    Geographic & Product Diversification Segment Gross Margin Mix1,2 Geographic Gross Margin Mix1,2 International Contract Latin America Operations 31% 36% North America North America Contract 44% Operations 38% Aftermarket…
  8. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 8
    Global Presence North America Eastern Hemisphere Unconventional production Demand for integrated projects as drives growth opportunities natural gas infrastructure developed Latin America Established contract compression…
  9. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 9
    COMPRESSIONSolutions Compressor packages Reciprocating Rotary screw Gas engine drive Electric motor drive Compressor Engine Cooler 9
  10. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 10
    PRODUCTIONSolutions Separation Separators / Scrubbers Heated separators Filters / Coalescers Free water knock outs Sand separators Process heaters / Coolers BTEX control Fuel gas packages Flow measurement packages Crude oil…
  11. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 11
    PROCESSINGSolutions Gas sweetening Amine, sulfur recovery systems Gas dehydration TEG, Mol Sieve, Silica Gel Dewpoint control Refrigeration, JT Systems NGL recovery Cryogenic systems Fractionation Stabilization 11
  12. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 12
    INTEGRATEDSolutions Single source accountability Facility design Project management Installation and construction Turnkey facilities Compression Processing and treating Production Gas storage 12
  13. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 13
    AFTERMARKET Solutions Installation and startup Maintenance Preventive Long term agreements Unscheduled Replacement parts Overhaul and remanufacturing Facility operations 13
  14. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 14
    Belleli Energy Critical process equipment for refineries, power plants and other industrial applications Storage tanks for oil and petroleum products Desalination plants 14
  15. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 15
    Exterran Growth driven by: Comprehensive product and service offerings North America shale gas development International energy infrastructure demand Relationship with Exterran Partners Financial highlights and key…
  16. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 16
    North American Shales 16
  17. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 17
    Emerging U.S. Shale Gas Plays Drive Growth Marcellus and Eagle Ford Shale Plays: Robust activity levels enhance demand for compression services and production and processing equipment. With its extensive geographic…
  18. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 18
    Favorable Long-Term Market Trends Total U.S. Production1 Total U.S. Compression Fleet2 25 22.9 20 Million HP of compression 20 Trillion cubic feet 15 15 10 10.0 10 5 5 0 0 1994 1996 1998 2000 2002 2004 2006…
  19. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 19
    Improving Horsepower Trends and Stable Pricing Total Operating Horsepower1 (000s) North America Revenue/HP/month2 4000 22.00 3535 3472 3452 3455 20.00 19.09 19.20 19.12 3500 3308 18.51 18.55 18.55 18.30 17.68 17.82 17.98 17.95…
  20. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 20
    Exterran Growth driven by: Comprehensive product and service offerings North America shale gas development International energy infrastructure demand Relationship with Exterran Partners Financial highlights and key…
  21. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 21
    Global Growth Opportunities Exterrans ability to provide a full range of production-related equipment enhances its ability to seize growth opportunities in international markets Exterran Total Revenue ( millions)1 Annual Gas…
  22. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 22
    Increased Presence in Brazil Brazil % of Exterran International1 Revenue 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% 2008 2009 2010 1 Includes Latin America and Eastern Hemisphere. 22
  23. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 23
    Processing Facility in Brazil 23
  24. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 24
    Production Module for FPSO Vessel 24
  25. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 25
    Exterran Growth driven by: Comprehensive product and service offerings North America shale gas development International energy infrastructure demand Relationship with Exterran Partners Financial highlights and key…
  26. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 26
    Relationship with Exterran Partners EXH owns an equity interest and the entire GP interest in Exterran Partners, L.P. EXLP currently owns about 44% of the combined EXH/EXLP U.S. Contract Operations fleet Over time, EXH intends…
  27. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 27
    Summary Exterran Organizational Structure NACO International Market Equity1 : 1.5 Billion (56% of Total Contract Fabrication AMS NACO Business)2 Operations 38% LP 2% GP U.S. (44% of Total U.S. Business)2 Market Equity1…
  28. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 28
    Exterran Growth driven by: Comprehensive product and service offerings North America shale gas development International energy infrastructure demand Relationship with Exterran Partners Financial highlights and key…
  29. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 29
    Pro Forma Debt Structure Pro Forma Debt Structure as of December 31, 2010 ( millions) Funded Size Maturity Rating Type Amount Senior Secured Facility1,2 510 1,360 2012 / 2013 BBB-/Ba1 7.25% Senior Notes 350 350 2018 BB/Ba3 3…
  30. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 30
    Exterran Parent Sources and Uses of Cash Sources: Operating cash flow from directly-owned assets Distributions from EXLP Proceeds from dropdowns Uses: Investment in growth projects and fleet assets Debt reduction 30
  31. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 31
    Significant Debt Reduction 3,000 EXLP Exterran Parent 2,500 2,000 Millions 1,500 1,000 500 0 12/31/08 3/31/09 6/30/09 9/30/09 12/31/09 3/31/10 6/30/10 9/30/10 12/31/10 12/31/10 Pro Forma1 Exterran Parent debt…
  32. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 32
    Exterran Partners Relatively stable fee-based contract operations business is a good fit with distribution-focused MLP investment vehicle MLP tax structure provides relatively lower cost of capital EXLP continues to trade at a cash…
  33. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 33
    Priorities for 2011 OPERATIONAL Continue focus on expanding international business through both contract operations and fabrication work Key markets include Eastern Hemisphere, Mexico and Brazil Capitalize on North American market…
  34. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 34
    APPENDIX 34
  35. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 35
    Results - Exterran Financial Results Summary 1 ( in millions) 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q10 Revenues North America Contract Operations 194.4 178.5 167.6 154.9 152.6 152.0 152.0 151.4 International Contract…
  36. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 36
    Non-GAAP Financial Measures EBITDA, as adjusted, a non-GAAP measure, is defined as income (loss) from continuing operations plus income taxes, interest expense (including debt extinguishment costs and gain or loss on termination of…
  37. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 37
    Non-GAAP Financial Measures (cont.)1 Three Months Ended March 31, June 30, Sept. 30, Dec. 31, March 31, June 30, Sept. 30, Dec. 31, ( millions) 2009 2009 2009 2009 2010 2010 2010 2010 Income (loss) from continuing operations (59.7)…
  38. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 38
    Non-GAAP Financial Measures (cont.)1,2 Year Ended December 31, ( millions) 2006 2007 2008 2009 2010 Reconciliation of GAAP to Non-GAAP Financial Information: Income (loss) from continuing operations 60.7 (3.8) (981.8) (249.2)…
  39. HOWARD WEIL 2011 ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 39
    39

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