Enterprise Products Partners L.P. Mitsubishi UFJ Securities Oil & Gas Conference May 14, 2013 www.enterpriseproducts.com All rights reserved. Enterprise Products Partners L.P.
Key Investment Considerations Largest publicly traded energy partnership with an enterprise value of approximately 70 billion 64th on Fortune 500; 226th on Fortune Global 500 Integrated midstream energy system serving producers and…
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…
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…
Geographic and Business Diversification Provide 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% 24% 14% 46% 53% 8%…
EPD Accesses Some of the Most Prolific 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…
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…
Major EPD Growth Projects All rights reserved. Enterprise Products Partners L.P.
EPDs Eagle Ford Shale Projects Cumulative Capital Expenditures: 4 Billion with 3.3 Billion Placed In Service Eagle Ford Crude / 900 Condensate Production 800 600 550 MBPD 300 Eagle Ford Crude / 214 Condensate Production 3…
MAPL Rocky Mountain Expansion 265 miles of 16 pipeline and pump station modification Anchored by 10-year ship-or- pay transportation agreements Project Status: over 95% of Rocky Mountain right-of-way acquired; Expansion…
Front Range NGL Pipeline Joint venture EPD, Anadarko and DCP (each party owns ) EPD design, construct and operate 435 miles of 16 pipe from DJ Basin to Skellytown with connections to Texas Express and MAPL Front Range Capacity of…
Texas Express NGL Mainline Joint venture EPD (35%), Enbridge (35%), Anadarko (20%) and DCP (10%) EPD design, construct and operate 580 miles of new 20 pipe from Skellytown to Mont Belvieu Capacity of 280 MBPD expandable Texas…
Texas Express NGL Gathering Systems Joint venture EPD (45%), Enbridge (35%) and Anadarko (20%) Enbridge design, construct and operate two gathering systems: Elk City gathering: 200-mile pipeline system with capacity of 125 MBPD…
Appalachia to Texas (ATEX) Express P/L Transport Ethane from Marcellus / Utica Shale 140 Contracted Volumes 120 Aegis Pipeline 100 270-mile pipeline system, from Mont 80 MBPD Belvieu to multiple petchems in Texas and…
Opportunity to Further Repurpose TE Products Pipeline to Meet North American Demand for Diluent Proposed TE Products Southern Lights interconnection Potential TE Products 16 Potential TE Products 16 Proposed TE Products…
Understanding Profitability and Producer Incentives Comparison of Natural Gas Values /Mcf of Gas 12 Month Forward Strip May 1, 2013 Sources: NYMEX and EPD Fundamentals All rights reserved. Enterprise Products Partners L.P. 17
EPD View of U.S. Supply Potential Assuming Sufficient Markets Gas NGLs Ethane Propane Butanes C5+ (Bcf/d) (MBPD) (MBPD) (MBPD) (MBPD) (MBPD) Current (Feb-13) 69.7 2,453 949 765 428 312 2015 70.0 70.8 3,645 3,790 1,670 1,740 1,000…
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…
U.S. PetChems: Retooling and Expanding Announced Incremental C2 Demand Ranges from 600750 MBPD CP Chemical Dow Chemical ExxonMobil CEO announced permits Filed permits to expand 4 billion investment to filed for 1.5 MM mt/yr build 1.5…
A Fundamental Change in U.S. Exports Total Arbitrage per VLGC Cargo (550,000 Bbl/cargo) U.S. Import Export History 30 80 17% 70 15% 25 60 13% Millions / Cargo 20 Million Barrels 50 11% 15 40 9% 30 6% 10 20 4% 5…
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…
Increased Ethane Usage Reduces U.S. Propylene and Butadiene Supply Ethane demand increasing vs. naphtha due to favorable economics 16 1000 15.2 14.7 U.S. petrochemical industry is retooling 14 900 to maximize ethane consumption…
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…
Onshore Crude Oil Assets An Integrated System Not a Collection of Assets Assets complemented by large truck and barge fleets All rights reserved. Enterprise Products Partners L.P. 25
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 / 4.11 MMBPD Permian South of Cushing…
Eagle Ford Crude Oil Pipeline, Gathering and ECHO Terminal Eagle Ford Crude / 600 Condensate Production 550 400 MBPD 214 200 Eagle Ford Crude / Condensate Production 3 35 0 2009 2010 2011 2012 Source: EPD Fundamentals…
Seaway Crude Oil Pipeline Repurposing and Expanding Seaway JV (50 / 50 EPD / ENB) reversed flow and expanded capacity to provide Gulf Coast access for Mid-Continent, Bakken and Canadian crude oil Seaway Loop: constructing 512-mile,…
EPD ECHO Terminal A New Player in the Market Cushing, OK 1.6 million BPD Crude Oil Complex 0.8 million BPD Houston Texas City Refining Complex Refining Complex Canadian / Bakken Crude Production 400850 MBPD West Texas Crude…
EPD Offshore Assets Well Positioned to Handle GOM Growth Lucius Oil Pipeline: SEKCO EPD / GEL 50 / 50 JV 100 miles new 18 pipeline (extended) Design capacity of 115 MBPD First oil scheduled July 2014 Discoveries…
Financial All rights reserved. Enterprise Products Partners L.P.
History of Financial Discipline While Executing Growth Strategy (1) (2) Total Growth Capex & Debt Leverage Funded growth capital 4.5 4.6x 4.2 4.7x expenditures through 4.0 3.9 issuance of debt and 3.6 3.5 4.5x equity, retained…
History of Financial Discipline Retaining DCF for Financial Flexibility Long-term focus 4,500 Distributable Cash Flow (Retained 5.0B 20081Q2013) Retaining DCF (equity) 4,000 capital similar to C-corps 3,500 1,050 Moderate…
Long-Term Debt Maturity Schedule (2) March 31, 2013 Weighted Average Long-Term Debt Life (Years) 18.8 2,000 Weighted Average Long-Term Debt First Call (Years) 14.3 Average Interest Rate 5.4% % Fixed Rate Debt 99% 1,500…
Illustration of Indicative Accretion Potential in Millions, except per unit data Assumed Unlevered Returns on Capital 10.0% 12.5% 15.0% 17.5% EPD Major Growth Projects Put Into Service 20122015 10,600 10,600 10,600 10,600 Unlevered…
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…
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…
Non-GAAP Reconciliations All rights reserved. Enterprise Products Partners L.P.
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…
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…
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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