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Q@ 2015 Earnings Presentation – Midcoast Energy Partners, L.P.

Midcoast Energy Partners, L.P. · Jul 30, 2015 · 9 slides

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Slides

  1. Q@ 2015 Earnings Presentation – Midcoast Energy Partners, L.P. – slide 1
    Second Quarter 2015 Earnings Presentation July 30, 2015
  2. Q@ 2015 Earnings Presentation – Midcoast Energy Partners, L.P. – slide 2
    Second Quarter Highlights Solid Financial Performance Three consecutive quarters of solid financial results with 1.18X coverage through 1H 2015 Announced fifth consecutive quarterly cash distribution increase Actions to Strengthen…
  3. Q@ 2015 Earnings Presentation – Midcoast Energy Partners, L.P. – slide 3
    Financial Results Financial Summary (1) Volumes Midcoast Operating, LP 2Q 2015 2Q 2014 Anadarko East Texas North Texas 2,500 Adjusted EBITDA, inclusive of 59.6 60.7 other cash items (3) 297 (mmbtu/d in thousands) 2,000 300 304…
  4. Q@ 2015 Earnings Presentation – Midcoast Energy Partners, L.P. – slide 4
    Capital Expenditures Forecast & Available Liquidity Midcoast Operating, L.P. 2015e ( millions) Sufficient liquidity to fund balance of year Beckville Gas Processing Plant 60 capital requirements Eaglebine Developments 135…
  5. Q@ 2015 Earnings Presentation – Midcoast Energy Partners, L.P. – slide 5
    Executing on Strategic Priorities to Strengthen Underlying Business Sustainable cost reductions and Streamlining business with asset optimization actions on track divestiture of non-core assets Executing on plan to reduce annual…
  6. Q@ 2015 Earnings Presentation – Midcoast Energy Partners, L.P. – slide 6
    Sponsor Actions Underpin Visible Growth Sponsor (EEP) actions to enhance Partnerships ability to deliver distribution growth through December 31, 2017 5% distribution CAGR at MEP through 2017 EEP to potentially adjust its quarterly…
  7. Q@ 2015 Earnings Presentation – Midcoast Energy Partners, L.P. – slide 7
    Drop-down Program Drives Growth 100% Natural Gas business 48.4% ownership 51.6% July 1, 2014 2016e 2019e Drop-down program is strategic to both EEP and MEP Next drop-down proposal expected in 2016 Expected drop-down size…
  8. Q@ 2015 Earnings Presentation – Midcoast Energy Partners, L.P. – slide 8
    Key Takeaways Solid financial performance and healthy coverage through 1H 2015 1.18x YTD Coverage Fifth consecutive quarterly distribution increase (+8.5% vs 2Q14) Actions underway to strengthen underlying midstream business O&A cost…
  9. Q@ 2015 Earnings Presentation – Midcoast Energy Partners, L.P. – slide 9

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