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BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P.

Plains All American Pipeline, L.P. · Nov 14, 2012 · 36 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. BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P. – slide 1
    Bank of America Merrill Lynch y 2012 Global Energy Conference Roy Lamoreaux Director, Investor Relations Miami, FL November 14, 2012
  2. BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P. – slide 2
    Plains All American Ownership Structure PAA Supportive GP Owners General Partner Oxy 35% PAA Public (privately owned) y Anderson et al Kayne 27% Unitholders 6% LP 2% GP EMG 25% 92% LP Interest Interest + IDRs Management 5%…
  3. BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P. – slide 3
    PAA Offers Stability of a Large-Cap Investment-Grade Entity y with Strong g Visibility y for Continued Growth Financial Profile Assets(4) Total Assets ((1)) 18 18.2 2B Pipelines (active miles) 18,000 18 000 Liquids Storage 120…
  4. BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P. – slide 4
    PAA has Delivered Solid Operating and Financial Results and a d Attractive tt act e Distribution st but o G Growth o t for o OOver e a Decade ecade 43 Consecutive Quarters of Performance In-line With or Above Guidance 550 550…
  5. BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P. – slide 5
    PAAs Activities Are Conducted on Four Product Platforms Crude Oil is the Largest Crude Oil Natural Gas Liquids Refined Products Natural Gas Storage Gas Producers Facilities End Users Refineries Stations Barge Gathering…
  6. BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P. – slide 6
    PAA Operates in Three Segments Segment Performance Benefitting from Investments & Strong Demand Reporting Segments(1) Adjusted Segment Profit (in billions) 2.5 Supply & Logistics (Margin Based -- includes fee-based equivalent +…
  7. BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P. – slide 7
    Preliminary 2013 Adjusted EBITDA Guidance Projects Strong Fee- Based Growth & Baseline Supply pp y & Logistics g Performance /---Projected Results Provided for Strong Fee-Based Directional Illustration Only---/ Cash Flow 2.017 B…
  8. BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P. – slide 8
    Market Overview & PAA Positioning
  9. BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P. – slide 9
    US & Canada Leading the World in Leading Crude Oil Production Growth (Expected To Continue for Several Years) Worlds 10 Largest Oil Producers Crude Oil Production 0.7 3 Year Production Growth 9.8 95 9.5 (1) (2011 mmb/d) (2009 2011…
  10. BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P. – slide 10
    Strong Oil Prices have Shifted Resources Toward the Development p of Oil Resource/Shale Plays y vs. Natural Gas Natural Gas & Crude Oil Prices(1) Historical Oil & Gas Rig Count(2) 150 15 1,800 130 13 1 500 1,500 110 11 1,200…
  11. BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P. – slide 11
    Resource Plays Are Expected to Continue to Drive Very Significant g Increases in North American Production Projected Cumulative Growth Top 10 World Producers From 2009 to 2016/18 Time Period(2) 3YYr. C Cum. G Growth th (2009…
  12. BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P. – slide 12
    PAAs Assets -- Well Positioned to Service Areas of Recent and Anticipated Crude Oil Production Growth* Canada: 25% Bakken: 150% Marcellus/ Utica: Rockies: 75% Mid-Continent: 80% Permian Basin: 70% Eagle Ford:…
  13. BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P. – slide 13
    PAA Investment Focused on Areas of Recent and Anticipated Crude Oil Production Growth As Well as Market Outlets* Canada (2,000mm) (2 000mm) BP NGL acquisition and related projects Rainbow II Pipeline Bakken (450mm) Nexen crude…
  14. BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P. – slide 14
    PAA has an Extensive Capital Project Portfolio g Strong Providing g Visibility y for Continued Growth 5+ billion project portfolio(1) provides visibility to invest 1.15 billion in 2012, 900 million to 1.1 billion in 2013, and a…
  15. BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P. – slide 15
    PAA Remains Active in Pursuit of Strategic Acquisitions Primary Focus: Bolt-on acquisitions fill out / expand asset footprint in core areas Strategic acquisitions establish new core areas or complement asset base Since 2011,…
  16. BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P. – slide 16
    PAA has a Long History of Completing and Integrating Significant Acquisitions PAA Acquisition Investment (2001 2012) 2001 - 2012 3,500 Total: 9.3 billion 3,000 2,500 2007 2012 millions 2,000 Average: 800 mm/yr In m…
  17. BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P. – slide 17
    PAAs Solid Capitalization & Liquidity Capitalization (in millions) 9/30/12 12/31/11 Long-term debt 5,811 4,520 Partners' capital 6,925 5,974 T t l book Total b k capitalization it li ti 12 12,736 736 10 494 10,494 Credit…
  18. BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P. – slide 18
    PAA Continues to Generate Meaningful Cash Flow in Excess of Distributions 1,600 1,463 1,400 1,200 1,156 495 (in millions) 1,000 365 800 762 80 600 968 400 682 791 200 0 2010 2011 2012(G) (1) Distributions Paid…
  19. BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P. – slide 19
    PAA has Proven Track Record of Delivering Solid Distribution Growth and Total Returns Over Multi-year y Periods Adjusted EBITDA Distributions Target 2,017 Increased in 32 of 34 quarters 7-8% 1,925 2.55 Growth 1 598 1,598 2.17 2.25…
  20. BAML 2012 Global Energy Conference – Plains All American Pipeline, L.P. – slide 20
    PAA Investment Considerations Proven business model & management team Long history of solid operational and financial performance, including during 2007 2009 market turmoil and other pperiods of significant g volatility y…
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