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Simmons Energy Conference – Enterprise Products Partners LP

Enterprise Products Partners LP · Feb 28, 2013 · 29 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. Simmons Energy Conference – Enterprise Products Partners LP – slide 1
    Enterprise Products Partners L.P. Simmons Energy Conference February 28, 2013 Randy Fowler www.enterpriseproducts.com EVP & CFO All rights reserved. Enterprise Products Partners L.P.
  2. Simmons Energy Conference – Enterprise Products Partners LP – slide 2
    Key Investment Considerations Largest publicly traded energy partnership with an enterprise value of approximately 66 billion 62nd on Fortune 500; 226th on Fortune Global 500 Diversified sources of cash flow from over 35 billion in…
  3. Simmons Energy Conference – Enterprise Products Partners LP – slide 3
    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…
  4. Simmons Energy Conference – Enterprise Products Partners LP – slide 4
    Geographic and Business Diversification Provide Multiple Earnings Streams (1) 4.4 Billion Gross Operating Margin 5 Year Growth Capital Allocation 20112015E For 12 months ended December 31, 2012 13.4 Billion 18% 27% 13% 46% 56%…
  5. Simmons Energy Conference – Enterprise Products Partners LP – slide 5
    Continually Evaluating Emerging Shale / Non-Conventional Plays Williston Basin Appalachian Basin Bakken Appalachian Basin Marcellus Utica Jonah Powder River Basin Pinedale Niobrara Michigan Basin Uinta Basin Antrim Mancos Denver…
  6. Simmons Energy Conference – Enterprise Products Partners LP – slide 6
    Rich Gas: Understanding Profitability and Producer Incentives Rich Gas Value per Mcf of Gas Forward 12 Month Strip 7.00 5.82 Mcf 6.00 Ethane (0.26 /gal) 0.34 6% Natural Gasoline (2.15 /gal) 0.47 5.00 4.61 Mcf Iso Butane (1.77…
  7. Simmons Energy Conference – Enterprise Products Partners LP – slide 7
    Low Gas to Crude Spread Drives U.S. NGL Advantage NYMEX Natural Gas Price as a % of Crude Bcf/d Global Indicative Ethylene Cash Costs 180% 30 Dollars Per Metric Ton Ethylene 1,400 160% 25 1,200 140% 1,000 120% 20 100% 800…
  8. Simmons Energy Conference – Enterprise Products Partners LP – slide 8
    U.S. Petrochemical Industry is Retooling: Maximize Ethane Consumption for Max Sasol ExxonMobil CP Chemical Announces front-end Filed permits to expand CEO announced permits engineering / design for an Baytown ethylene filed for 1.5 MM…
  9. Simmons Energy Conference – Enterprise Products Partners LP – slide 9
    Visibility to Growth: 6.8 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. Simmons Energy Conference – Enterprise Products Partners LP – slide 10
    Major EPD Growth Projects All rights reserved. Enterprise Products Partners L.P.
  11. Simmons Energy Conference – Enterprise Products Partners LP – slide 11
    EPDs Eagle Ford Shale Projects Cumulative Capital Expenditures: 4 Billion 2.7 Billion Placed In Service Eagle Ford Crude / 900 Condensate Production 800 600 550 MBPD 300 Eagle Ford Crude / 214 Condensate Production 3 35 0…
  12. Simmons Energy Conference – Enterprise Products Partners LP – slide 12
    Exceeding Expectations Yoakum Inlet MTBV Fractionation (4, 5 & 6) MMcf/d MBPD Yoakum NGL Production Performance from our Yoakum facility has exceeded our expectations, including recovery flexibility MBPD Plant has…
  13. Simmons Energy Conference – Enterprise Products Partners LP – slide 13
    Shale Plays Drive EPDs Western NGL Pipeline Expansions: 1.2 Billion MAPL Rocky Mountain NGL Pipeline Expansion: 265 miles of 16 pipeline expected to be in service 2Q 2014 Increase capacity from 275 MBPD to 350 MBPD Project status:…
  14. Simmons Energy Conference – Enterprise Products Partners LP – slide 14
    Seaway Crude Oil Pipeline Relieves Cushing Bottleneck Seaway JV reversed flow and expanded capacity to provide Gulf Coast access for Mid- Continent, Bakken and Canadian crude oil Constructing 512-mile, ECHO Crude Oil Terminal…
  15. Simmons Energy Conference – Enterprise Products Partners LP – slide 15
    Appalachia to Texas (ATEX) Express P/L Transport Ethane from Marcellus / Utica Shale 140 Contracted Volumes 120 100 MBPD 80 60 131 116 104 40 81 68 Proposed Ethane Header 20 Pipeline 0 2014 2015 2016 2017 2018 550-mile…
  16. Simmons Energy Conference – Enterprise Products Partners LP – slide 16
    LPG Exports Continue at Unprecedented Pace CPG International Propane Arb Top 5 Propane Exporters and U.S. 30 25 MMBbls / Month 20 15 10 5 0 2007 2008 2009 2010 2011 1H 2012 Saudi Arabia Qatar United Arab Emirates…
  17. Simmons Energy Conference – Enterprise Products Partners LP – slide 17
    EPD 2012 Propane Export Destinations 46 MMBbls Europe 6.8 MMBbls Far East 3.7 MMBbls Mexico 10.8 MMBbls Caribbean 6.0 MMBbls Central America 1.3 MMBbls South America 17.3 MMBbls All rights reserved. Enterprise…
  18. Simmons Energy Conference – Enterprise Products Partners LP – slide 18
    Increased Ethane Usage Reduces U.S. Propylene and Butadiene Supply Ethane demand increasing vs. 16 1000 naphtha due to favorable 15.2 14.7 economics 14 900 Shift to ethane has significantly 12.8 800 12 reduced propylene and…
  19. Simmons Energy Conference – Enterprise Products Partners LP – slide 19
    Propane Dehydrogenation Plant (PDH) EPD announced plans to build one of the worlds largest PDH units along the Texas Gulf Coast Will consume up to 35 MBPD of propane to produce up to 1.65 billion lbs. per year (25 MBPD) of polymer…
  20. Simmons Energy Conference – Enterprise Products Partners LP – slide 20
    Financial All rights reserved. Enterprise Products Partners L.P.
  21. Simmons Energy Conference – Enterprise Products Partners LP – slide 21
    Macro Cost Environment Supportive to Capital Investment North America Steel Costs Pipeline Labor Costs 1,600 50 1,400 45 1,200 40 /Man Hour /S.Ton 1,000 800 35 600 30 400 200 25 - 20 HR Coil Plate National…
  22. Simmons Energy Conference – Enterprise Products Partners LP – slide 22
    (1) Solid Operating Performance 15 Natural Gas Pipeline 14.5 Liquids Pipeline Volumes 14.3 4,300 4,289 Volumes 4,181 13 12.7 4,100 11.9 4,024 3,990 11.0 11 3,900 TBtu/d MBPD Offshore 9 3,704 3,700 Onshore 7…
  23. Simmons Energy Conference – Enterprise Products Partners LP – slide 23
    Drives Strong Financial Results 4.5 Gross Operating Margin 4.4 4.5 Distributable Cash Flow (DCF) 4.1 3.9 3.8 3.5 3.5 3.3 Billions Billions 2.9 2.5 2.3 2.6 2.5 1.6 1.5 1.4 1.5 0.5 2008 2009 2010 2011 2012 2008 2009 2010…
  24. Simmons Energy Conference – Enterprise Products Partners LP – slide 24
    History of Financial Discipline While Executing Growth Strategy (1) (2) Total Growth Capex & Debt Leverage 50 major capital growth 4.0 3.9 4.6x 4.7x projects totaling 8.0 billion 3.5 3.6 of investment were completed 3.1 4.5x…
  25. Simmons Energy Conference – Enterprise Products Partners LP – slide 25
    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 1 1 1 CAGR CAGR CAGR REIT Commodities IG Bonds MLP Index EPD EPD EPD EPD REIT EPD EPD EPD EPD EPD…
  26. Simmons Energy Conference – Enterprise Products Partners LP – slide 26
    Non-GAAP Reconciliations All rights reserved. Enterprise Products Partners L.P.
  27. Simmons Energy Conference – Enterprise Products Partners LP – slide 27
    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…
  28. Simmons Energy Conference – Enterprise Products Partners LP – slide 28
    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…
  29. Simmons Energy Conference – Enterprise Products Partners LP – slide 29
    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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