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Raymond James North American Equities Conference – Enterprise Products Partners LP

Enterprise Products Partners LP · Sep 9, 2013 · 28 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. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 1
    Enterprise Products Partners L.P. Raymond James North American Equities Conference September 2013 Randy Fowler www.enterpriseproducts.com EVP & CFO All rights reserved. Enterprise Products Partners L.P.
  2. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 2
    Key Investment Considerations One of the largest U.S. publicly traded energy partnerships with an enterprise value of more than 70 billion 64th on Fortune 500 Integrated midstream energy system serving producers and consumers of…
  3. Raymond James North American Equities 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. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 4
    Geographic and Business Diversification Provides Multiple Earnings Streams 4.7 Billion Gross Operating Margin 5 Year Growth Capital Allocation 20112015E (1) For 12 months ended June 30, 2013 15.4 Billion 17% 22% 51% 14% 44%…
  5. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 5
    Existing Wells and Shale Plays Shales: Source Rock of Conventional Oil & Gas Its no coincidence EPD Pipelines Gas Crude Oil Liquids (NGL & Products) Shale Plays Existing North American Production 0 250 500 Miles Oil Gas…
  6. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 6
    Shale Plays: LongTerm Future Development Potential Shale Play Estimated Remaining Wells Potential Years Acres Locations per Year of Drilling Marcellus 15,000,000 175,000 1,650 100 Utica 13,000,000 50,000 600 80 Bakken / Three…
  7. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 7
    U.S. NGL Supply Potential Assuming Sufficient Markets 975 ROCKIES 902 APPALACHIAN 694 MID-CONTINENT 839 131 4966 PERMIAN NGL Components OTHER Total Mbd 1425 Ethane 2,321 GULF COAST Propane 1,353 Normal Butane 473…
  8. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 8
    Low Gas to Crude Spread Continuing to Drive U.S. NGL Advantage NYMEX Natural Gas Price as a % of Crude Bcf/d U.S. Ethane Demand / Ethylene Production 180% 30 1,000 65 931 935 160% 915 60 25 140% 900 884 55 000 Barrels/Day…
  9. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 9
    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…
  10. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 10
    Visibility to Growth: 8.0 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…
  11. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 11
    Major NGL Capital Growth Projects Western Pipeline Expansions 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…
  12. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 12
    Major NGL Capital Growth Projects ATEX and Aegis Ethane Pipelines ATEX Express 140 ATEX C2 Contracted Volumes 1,230 mile pipeline 120 Capacity: 190 MBPD, expandable with 100 system enhancements 80 MBPD 15 year ship-or-pay 60…
  13. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 13
    Propane Exports Global Supply / Demand Supply EPD 6 Mos. 2013: 36 MMBbls North Sea / Northwest Europe Decline in North Sea output and ongoing field and terminal maintenance Exports Loaded % of Destination Market programs impact…
  14. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 14
    Increased Use of Ethane Has Reduced 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 14 maximize ethane consumption 12.8 800…
  15. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 15
    Changing Crude Oil Flow EPDs Assets Are At The Center Of It All 2012 2020 Canada: Canada: Heavy Light Heavy Light 1.8 MMBPD 0.7 MMBPD 3.1 MMBPD 1.5 MMBPD USGC is 45% of U.S. USGC 45% of U.S. Light Refining Capacity Light…
  16. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 16
    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…
  17. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 17
    ECHO Connectivity Growing Volumes, Multiple Grades4 MMBbls of Demand Valero Lyondell PRSI Shell Deer Park Beaumont / Port Arthur Galena Park Bertron Speed Exxon Baytown Pasadena Delivery Morgans Point Genoa Junction…
  18. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 18
    Financial All rights reserved. Enterprise Products Partners L.P.
  19. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 19
    (1) Solid Operating Performance 16 Natural Gas Pipeline Volumes 4,800 Liquids Pipeline Volumes 14.5 4,701 14.3 13.9 14 4,600 12.7 11.9 12 4,400 TBtu/d MBPD Offshore 4,289 10 4,205 4,200 Onshore 4,024 8 4,000…
  20. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 20
    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 2.4 2.5 2.3 3.1 2.8 2.0 1.8 1.6 2.1 1.5 1.0 0.0 0.5 2009 2010…
  21. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 21
    History of Financial Discipline While Executing Growth Strategy (1) (2) Total Growth Capex & Debt Leverage 4.5 4.50x 4.2 4.0 3.9 4.2x 3.6 4.25x 3.5 3.1 Debt / Adjusted EBITDA Total Growth Capex 3.0 3.9x 4.00x 2.5…
  22. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 22
    Strengthening Debt Portfolio Extending Maturities Without Increasing Costs 14 8.0% 11.1 Billion Notes Issued 14.0 20092013 10.4% 12 12.4 7.0% 10.4% 11.0 Cost of Debt 6.1% Year 10 6.0% 5.7% 5.8% 5.7% 9.2 9.2 5.5%…
  23. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 23
    S&P 500 Fun Facts With an enterprise value of more than 70 billion, EPD ranks 49th overall Largest Energy Companies by Enterprise Value Largest Utility Companies by Enterprise Value 1 Exxon Mobil Corporation 415,004 1 Duke Energy…
  24. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 24
    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 6M 2013 1 1 1 CAGR CAGR CAGR REIT Commodities IG Bonds MLP Index EPD EPD EPDEPD REIT EPDEPD EPD EPD…
  25. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 25
    Non-GAAP Reconciliations All rights reserved. Enterprise Products Partners L.P.
  26. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 26
    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…
  27. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 27
    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…
  28. Raymond James North American Equities Conference – Enterprise Products Partners LP – slide 28
    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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