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Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP

Enterprise Products Partners LP · Aug 21, 2013 · 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. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 1
    Enterprise Products Partners L.P. Citi 1x1 MLP / Midstream Infrastructure Conference August 2013 www.enterpriseproducts.com All rights reserved. Enterprise Products Partners L.P.
  2. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 2
    Key Investment Considerations Largest publicly traded energy partnership with an enterprise value of more than 70 billion 64th on Fortune 500 Integrated midstream energy system serving producers and consumers of natural gas, natural…
  3. Citi 1x1 MLP and Midstream Infrastructure 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. Citi 1x1 MLP and Midstream Infrastructure 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% 44% 51% 14% 13%…
  5. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 5
    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…
  6. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 6
    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 pipeline Fractionation expansions PDH…
  7. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 7
    NGLs and Petrochemicals Western Pipeline expansions, ATEX and Aegis expect to add 800 MBPD of new pipeline capacity supported by fixed-fee contracts All rights reserved. Enterprise Products Partners L.P.
  8. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 8
    Producer NGL Uplift Rich Gas Value per Mcf of Gas Forward 12 Month Strip 6.0 5.48/Mcf 5.5 3% Ethane 0.19 Nat. Gasoline 0.45 5.0 Iso Butane 0.55 4.5 4.17/Mcf 41% 4.0 Nat. Gasoline 0.32 Normal Butane 0.53 3.62/Mcf 20% Iso…
  9. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 9
    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…
  10. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 10
    Low Gas to Crude Spread Drives 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% 914 60 25 140% 900 884 55 000 Barrels/Day 120% 20…
  11. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 11
    EPD Gas Processing Contract Mix 84% of contract portfolio is fee-based and %-of-proceeds Inlet Gas 5.8 Bcf/d 2nd Quarter 2013 Equity NGL Production 118 MBPD Rockies 42 16% South Texas 40 (22% Nov 08) Louisiana 26 43% Chaco 7…
  12. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 12
    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…
  13. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 13
    Major NGL Capital Growth Projects ATEX Express and Aegis Ethane Pipeline 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…
  14. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 14
    Global Propane 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 production…
  15. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 15
    Propane: International Prices Support Exports Global Propane Prices CPG 250 230 210 190 170 150 130 Incentive For Exports 110 90 70 50 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13…
  16. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 16
    Expanding EPD NGL Fractionation Capacity MBPD Mont Belvieu is the premier option 1200 1,138 for fractionation: 1000 971 Connected to all major NGL pipelines 861 802 Direct access to largest salt dome 800 702 712 storage caverns in…
  17. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 17
    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 14 maximize ethane consumption 12.8 800…
  18. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 18
    Crude Oil All rights reserved. Enterprise Products Partners L.P.
  19. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 19
    Imports of Crude Down 3 Million BPD in Just 5 Years (excluding Canada & Mexico) U.S. Crude Oil Production & Imports MMBbl/d Excluding Canada & Mexico 8 U.S. Production 7 6 5 4 U.S. Imports, excluding Canada & Mexico…
  20. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 20
    Changing Crude 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 Refining…
  21. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 21
    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…
  22. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 22
    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…
  23. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 23
    Refined Products All rights reserved. Enterprise Products Partners L.P.
  24. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 24
    U.S. Refined Products Growing Supply Shrinking Demand Drive Exports Exports of petroleum products are expected to grow by 1.5 MMBPD by 2020 Shrinking domestic demand Sophisticated refining capacity located close to growing markets…
  25. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 25
    Refined Products Exports PADD 3 Gateway To Latin America Petroleum Product Exports 2012: Total U.S. Average 3.2 MMBPD (PADD 3 Average 2.4 MMBPD) Destinations for U.S. Refined Products Exports 3.5 Other 3.0 Canada Europe 2.5 The…
  26. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 26
    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…
  27. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 27
    Financial All rights reserved. Enterprise Products Partners L.P.
  28. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 28
    (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…
  29. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 29
    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…
  30. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 30
    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…
  31. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 31
    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%…
  32. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 32
    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 420,429 1 Duke Energy…
  33. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 33
    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…
  34. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 34
    Non-GAAP Reconciliations All rights reserved. Enterprise Products Partners L.P.
  35. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 35
    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…
  36. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 36
    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…
  37. Citi 1x1 MLP and Midstream Infrastructure Conference – Enterprise Products Partners LP – slide 37
    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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