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JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP

Enterprise Products Partners LP · Jun 13, 2013 · 30 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. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 1
    Enterprise Products Partners L.P. J.P. Morgans 2nd Annual Energy Corporate Access Day June 13, 2013 www.enterpriseproducts.com All rights reserved. Enterprise Products Partners L.P.
  2. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 2
    Key Investment Considerations Largest publicly traded energy partnership with an enterprise value of more than 71 billion 64th on Fortune 500; 226th on Fortune Global 500 Integrated midstream energy system serving producers and…
  3. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 3
    Geographic and Business Diversification Provides Multiple Earnings Streams 4.6 Billion Gross Operating Margin 5 Year Growth Capital Allocation 20112015E (1) For 12 months ended March 31, 2013 15 Billion 17% 23% 14% 45% 53% 10%…
  4. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 4
    Leading Business Positions Across Midstream Energy Value Chain Midstream Energy Services Natural Gas Natural Gas Pipelines Storage Pipelines Ethane NGL Exports Propane Natural Gas Butane Pipelines Gas Processing Iso-Butane…
  5. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 5
    EPD Portfolio of Integrated Assets Major Asset Overview 50,000 miles of natural gas, NGL, crude oil, refined 21 NGL & Propylene fractionators products and petrochemical pipelines 6 offshore hub platforms 200 MMBbls of NGL, refined…
  6. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 6
    EPD Accesses Some of the Most Prolific Emerging Shale / Non-Conventional Plays Williston Basin Bakken & Appalachian Basin Three Forks Appalachian Basin Marcellus Utica Jonah Powder River Basin Pinedale Niobrara Michigan Basin…
  7. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 7
    Shale Plays: Its Not Just Gas / NGLs 8 MMBPD Crude Oil Increase (2008 to 2020) Canada +2.35 Williston +1.25 CA / AK Rockies NE U.S. 0.36 +0.22 +0.43 Mid-Cont. +0.41 North of Cushing / 4.3 MMBPD Permian South of Cushing /…
  8. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 8
    Emerging Opportunities Near EPD Assets Drilling Marcellus Utica Anadarko Miss. Tuscaloosa Permian San Juan Piceance Play Rich Gas Rich Gas Cana Chat / Lime Marine Avalon Shale, Mancos Mancos Woodford Shale Bone Spring, Niobrara…
  9. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 9
    Visibility to Growth: 7.5 Billion in Major Capital Projects Under Construction In Service Date 1Q 2013 2Q 2013 3Q 2013 4Q 2013 2014 2015 NGL Pipeline & Services Eagle Ford Yoakum Gas Processing Facility (Phase III additional 300…
  10. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 10
    Review of Selected Major Projects All rights reserved. Enterprise Products Partners L.P.
  11. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 11
    Portfolio of Major Capital Growth Projects Western Expansion MAPL Rocky Mountain Front Range Texas Express ATEX Express Seaway Pipeline Looping Gulf Coast Projects Aegis ethane header pipeline Fractionation expansions…
  12. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 12
    Major NGL Capital Growth Projects Western Pipeline Expansion Front Range JV: EPD, Anadarko and DCP 435 miles of 16 pipe; DJ basin to Skellytown; connections to Texas Express and MAPL Capacity: 150 MBPD, expandable to 230 MBPD 10…
  13. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 13
    Major NGL Capital Growth Projects ATEX Express and Aegis Ethane Header Pipeline ATEX Express 1,230 mile pipeline Capacity: 190 MBPD, expandable with system enhancements 15 year ship-or-pay Expected in-service: 1Q 2014 Announced…
  14. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 14
    Major Crude Oil Growth Projects Seaway JV Looping & Laterals 512 mile, 30 parallel pipeline Supported by commitments up to 20 years 45 mile, 36 lateral from Jones Creek to ECHO 96 mile, 30 lateral from ECHO to Beaumont / Port…
  15. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 15
    Future ECHO Supply Connectivity Multiple Grades of Crude with Access to Numerous Markets Valero Lyondell PRSI Shell Deer Park Beaumont / Port Arthur Galena Park Bertron Speed Exxon Baytown Pasadena Delivery Morgans…
  16. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 16
    EPDs Eagle Ford Shale Projects Cumulative Capital Expenditures: 4 Billion with 3.3 Billion Placed In Service To-Date Eagle Ford Crude / 900 Condensate Production 800 600 550 MBPD 300 214 3 35 0 2009 2010 2011 2012 2013…
  17. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 17
    Propane Export Destinations EPDs Export Facility Loaded 46 MMBbls in 2012 Europe 6.8 MMBbls (2012 10% U.S.) Far East (2005 0.1% U.S.) 3.7 MMBbls (2012 3% U.S.) Mexico (2005 0% U.S.) 10.8 MMBbls Caribbean (2012 92% U.S.) 6.0…
  18. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 18
    EPD to Develop Refined Products Export Facilities on Texas Gulf Coast Utilize existing refined products pipeline, storage and terminal facilities Southern Complex: 12 MMBbls storage capacity; connected to 3 interstate pipelines, 1…
  19. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 19
    Increased Use of Ethane Reduces U.S. Propylene Supply Ethane demand increasing vs. naphtha due to favorable economics 16 15.2 1000 14.7 U.S. petrochemical industry is retooling to 900 maximize ethane consumption 14 12.8 800…
  20. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 20
    Financial All rights reserved. Enterprise Products Partners L.P.
  21. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 21
    (1) Solid Operating Performance 16 Natural Gas Pipeline Volumes Liquids Pipeline Volumes 4,492 4,500 14.3 14.5 14 13.8 4,300 4,289 12.7 4,205 11.9 12 4,100 TBtu/d 4,024 MBPD Offshore 3,990 10 3,900 Onshore 8…
  22. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 22
    Drives Strong Financial Results 5.0 Gross Operating Margin 4.5 Distributable Cash Flow (DCF) 4.4 4.1 3.8 4.0 3.9 3.5 3.3 2.9 Billions 3.0 Billions 2.5 2.3 2.9 2.8 2.0 1.2 1.6 2.2 1.5 1.0 0.9 0.0 0.5 2009 2010…
  23. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 23
    History of Financial Discipline While Executing Growth Strategy (1) (2) Total Growth Capex & Debt Leverage 4.5 5.00x 4.2 4.0 3.9 4.75x 3.6 3.5 4.50x 3.1 Debt / Adjusted EBITDA 3.0 4.2x 4.25x 2.5 Billions 3.9x…
  24. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 24
    Strengthening Debt Portfolio Extending Maturities Without Increasing Costs 15 8.0% 11.1 Billion Notes Issued 20092013 14.3 10.4% 13 7.0% 12.4 10.4% 11 Cost of Debt 6.1% 11.0 6.0% Year 5.7% 9 5.8% 5.7% 9.2 9.2…
  25. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 25
    S&P 500 Fun Facts With an enterprise value of 70.9 billion, EPD ranks 49th overall Largest Energy Companies by Enterprise Value Largest Utility Companies by Enterprise Value 1 Exxon Mobil Corporation 404,764 1 Duke Energy Corporation…
  26. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 26
    EPD and AMZ MLP Index Attractive Total Return vs. 9 Other Asset Classes 10-Year 5-Year 3-Year 2006 2007 2008 2009 2010 2011 2012 3M 2013 CAGR 1 CAGR 1 CAGR 1 REIT Commodities IG Bonds MLP Index EPD EPD EPD EPD REIT EPD EPD EPD EPD…
  27. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 27
    Non-GAAP Reconciliations All rights reserved. Enterprise Products Partners L.P.
  28. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 28
    Gross Operating Margin We evaluate segment performance based on the non-GAAP financial measure of gross operating margin. Gross operating margin (either in total or by individual segment) is an important performance measure of the core…
  29. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 29
    Adjusted EBITDA Adjusted EBITDA is commonly used as a supplemental financial measure by our management and external users of our financial statements, such as investors, commercial banks, research analysts and ratings agencies to…
  30. JP Morgans 2nd Annual Energy Corporate Access Day – Enterprise Products Partners LP – slide 30
    Distributable Cash Flow Distributable cash flow is an important non-GAAP financial measure for our limited partners since it serves as an indicator of our success in providing a cash return on investment. Specifically, this financial…

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