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Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company

Dte Gas and Oil Company · Feb 16, 2012 · 37 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. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 1
    Year End 2011 Earnings Conference Call February 16, 2012
  2. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 2
    Participants p Gerry Anderson - Chairman, President and CEO Dave Meador - Executive Vice President and CFO Peter Oleksiak - Vice President, Controller & Investor Relations Nick Khouri - Vice President and Treasurer Mark…
  3. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 3
    2011 Accomplishments Long-Term Growth Update Financial Update p 4
  4. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 4
    DTE Energy System of Priorities 5
  5. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 5
    2011 Accomplishments p Employee Higher employee engagement Engagement Five consecutive years of increased Gallup scores Five consecutive years of increased Gallup scores DTE ranks in the 71st percentile * Improved safety…
  6. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 6
    2011 Accomplishments p (continued) ( ) Regulatory Constructive outcome in Detroit Edison rate case C t ti t i D t it Edi t Solid political and regulatory context continues to support utility investments Growth First major…
  7. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 7
    2011 Accomplishments Long-Term Growth G Update Financial Update 8
  8. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 8
    DTE E Energy E i Earnings G th Growth Targeting 5% - 6% Long-Term Operating EPS Growth From 2012 Guidance Midpoint DTE Energy Operating Earnings Per Share* Guidance G idance 3.80** 3.73 3.60 3.30 2.89 2008A 2009A…
  9. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 9
    Detroit Edison Investment Profile, Profile 2012 2016 Base Environmental Renewable Energy & Infrastructure* ast uctu e Compliance Co p a ce Energy e gy Efficiency c e cy 4 billion 1.3 - 1.8 billion 900 million Investments to…
  10. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 10
    Detroit Edison R Renewable bl Energy E Update U d t Gratiot Wind Energy gy Michigan g Thumb Wind Projects j First Spinning Detroit Edison Turbine, Nov. 2011 Foundation Construction for Wind Turbine 212 MW project scheduled…
  11. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 11
    MichCon Investment Profile, Profile 2012 2016 Base Main Meter Capital Cap ta Renewal e e a Move-out o e out 675 million 250 million 115 million Strengthen and expand 670 mile main replacement over Move out 27,000 meters…
  12. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 12
    Non-Utility Growth Driven by Investments in Bluestone and Reduced Emissions Fuel (REF) Growth projects driving earnings potential of 225 million by 2016 (millions) Gas Storage & Pipeline Power & Industrial Projects 125 Operating…
  13. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 13
    Gas Storage and Pipeline D l DevelopmenttU d t Update Bluestone Pipeline & Gathering Millennium Pipeline 280 million investment First 2 mainline expansions on Phase 1 (including initial line late 2012 and 2013 gathering) inservice…
  14. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 14
    Power & Industrial Projects Reduced Emission Fuels Development Update Significant value and strong contribution for next 10 years 2011 Status 2012 Plan 2013 2021 Outlook 3 units in service at Optimize operations and Detroit…
  15. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 15
    2011 Accomplishments p Long-Term Growth Update Financial Update 16
  16. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 16
    2011 Operating Earnings Per Share* Share 3.73 Detroit Edison MichCon** Non-Utility Corporate & Other 2.60 0.65 0.83 (0.35) Gas Storage & Unconventional Power & Industrial Energy Trading Pipelines Gas Production…
  17. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 17
    Continuous Improvement Efforts Offsetting I fl ti and Inflation d Other Oth Costs C t Utility Operations and Maintenance Expense* ( millions) 1,900 350 1,635 Target 1,550 1,590** 1,550 2005 2006 2007 2008 2009 2010 2011…
  18. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 18
    Michigan Economy Continues to Show Signs of I Improvementt % Michigan Unemployment Detroit Edison Sales 14 Declining* g Improving p g (Temperature Normal Territory Sales GWh) 12 10 53,770 49,894 8 48,280 Other 6…
  19. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 19
    2012 Operating Earnings Guidance* Guidance 2011 2012 (millions, except EPS) Actual* Guidance* 2012 Drivers Full year rate order impact at lower ROE, 2011 one-time tax Detroit Edison 443 438 448 items and increased earnings from…
  20. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 20
    DTE Energy 2012 Cash Flow Guidance C h Flow Cash Fl S Summary 2012 D Drivers i (billions) 2011 2012 Actual Guidance 2012 cash from operations slightly lower than 2011 driven by higher VEBA contributions and federal tax payments…
  21. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 21
    DTE Energy 2012 Capital Expenditure Guidance Capital Expenditures Summary 2012 Drivers (millions) 2011 2012 Detroit Edison Actual Guidance Increased operational investment for improved Detroit Edison generation and distribution…
  22. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 22
    Strong Balance Sheet Supports Growth Leverage* Target 50% - 52% A strong balance sheet remains a key priority 51% 51% 50% Leverage and cash flow metrics within targeted ranges 2010 2011 2012E Refinanced over 1 billion of debt…
  23. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 23
    Dividend is Well Supported Dividend Yield (as of February 2012) DTE Energy Annualized Dividend 6% 2.35 5% 4 4% 4.4% 2.24 4% 2.12 3% 2% 1% 0% TEG VVC SO PNW NI WEC CMS NVE CNP WR LNT…
  24. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 24
    Investment Thesis DTE Energy has a plan it believes will provide 5% - 6% long-term operating EPS growth, an attractive dividend yield and a strong balance sheet Utility growth plan driven by mandated investments Constructive…
  25. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 25
    Contact Us DTE Energy Investor Relations www.dteenergy.com/investors 313-235-8030 26
  26. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 26
    Appendix
  27. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 27
    2011 Operating Earnings Variance Operating Earnings* Drivers ( millions, except EPS) 2010 2011 Change Detroit Edison Detroit Edison 438 443 5 Rate increase partially offset by increased maintenance activity MichCon 107 110 3…
  28. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 28
    Detroit Edison Variance Analysis Detroit Edison Operating Earnings* Variance Drivers ( millions) 35 (31) Margin 438 1 443 2011 rate increase Increased energy optimization incentives Return on renewable energy capital O&M…
  29. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 29
    MichCon Variance Analysis MichCon Operating Earnings* Variance Drivers ( millions) 16 (8) (5) 110 107 Colder weather in 2011 Lower midstream revenue Other primarily driven by 2010 GCR adjustment 30 * Reconciliation…
  30. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 30
    Barnett Shale Operating Metrics Reserves (Bcfe) Acreage Position (000s Acres) 2011 Results 87 21 new wells on-line, 2 in progress 555 559 70 17 Net Production of 5.1 Bcfe (54% liquids) 201 186 Proved Developed 58% increase in oil…
  31. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 31
    Unconventional Gas: Barnett Shale Assets F d on M Focused bl F Marble ll Oil Pl Falls Play Oil and NGLs* driving value Revenue by product (%) Focus on maturing Marble Falls oil play Oil 52% Wells confirming resource play…
  32. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 32
    DTE Energy Trading Reconciliation of O ti E Operating i * tto E Earnings* i N Economic Nett IIncome ( millions) 52 (5) Energy Trading Operating 47 E Earnings* i * Economic net income ( millions, after-tax) equals economic…
  33. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 33
    Reconciliation of 2011 Reported t O to Operating ti Earnings E i Use of Operating Earnings Information DTE Energy management believes that operating earnings provide a more meaningful representation of the companys earnings from…
  34. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 34
    Reconciliation of 2010 Reported t O to Operating ti Earnings E i Use of Operating Earnings Information DTE Energy management believes that operating earnings provide a more meaningful representation of the companys earnings from…
  35. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 35
    Reconciliation of 2009 Reported t O to Operating ti Earnings E i Use of Operating Earnings Information DTE Energy management believes that operating earnings provide a more meaningful representation of the companys earnings from…
  36. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 36
    Reconciliation of 2008 Reported t Operating to O ti Earnings E i Use of Operating Earnings Information DTE Energy management believes that operating earnings provide a more meaningful representation of the companys earnings from…
  37. Year End 2013 Earnings Conferenece Call – Dte Gas and Oil Company – slide 37
    Reconciliation of Other Reported t O to Operating ti Earnings E i Use of Operating Earnings Information DTE Energy management believes that operating earnings provide a more meaningful representation of the companys earnings from…

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