Enterprise Products Partners L.P. Mitsubishi Oil & Gas Conference May 14, 2014 Bryan Bulawa www.enterpriseproducts.com SVP, Finance & Treasurer All rights reserved. Enterprise Products Partners L.P.
Key Investment Considerations EPD is one of the largest U.S. publicly traded energy partnerships with an enterprise value of 87 billion 64th on Fortune 500 One of the largest integrated midstream energy systems Diversified sources of…
EPD Portfolio of Integrated Assets Major Asset Overview 51,000 miles of natural gas, NGL, crude oil, refined 22 NGL & Propylene fractionators products and petrochemical pipelines 6 offshore hub platforms 200 MMBbls of NGL, refined…
Geographic and Business Diversification Provide Multiple Earnings Streams 4.9 Billion Gross Operating Margin 4 Year Growth Capital Allocation 20132016E(1) For 12 months ended March 31, 2014 11.6 Billion 17% 16% 12% 55% 61% 22%…
Visibility to Growth: Major Capital Projects 6.8B Under Construction; 4.8B In-Service in 2013 / 1Q14 In Service Date: 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 2015/2016 NGL Pipeline & Services Eagle Ford Yoakum gas processing facility…
Major NGL Capital Growth Projects ATEX and Aegis Ethane Pipelines Initial Origins ATEX Pipeline 1,265-mile, 16 and 20 pipeline Initial capacity 125 MBPD, expandable to 265 MBPD Connected to 2 NGL fractionators; expect 2 additional…
U.S. NGL Supply Potential Assuming Sufficient Markets (MBPD) 128 OTHER ROCKIES 923 1,181 APPALACHIAN 661 MID-CONTINENT PERMIAN NGL Components 4Q 2008 Current 2020 Potential 1,026 Ethane* 686 1,275 2,509 Year 2020 Propane…
Propane Export Destinations 2013 Propane Exports (from EPD Facility) by Destination Region: 87 MMBbls % of Cargoes Loaded % of Destination Market North America 36% 54% South America 35% 52% Europe / North Africa 17% 11% Far East 13% 5%…
Ethane Supply Potential / Demand U.S. Expected to Remain Chronically Oversupplied MBPD 3,000 450700 MBPD excess before rejection 2,500 2,000 200250 MBPD rejection in 2013 1,500 1,000 500 0 2012 2013 2014 2015 2016…
NW Europe and Asia Offer New Markets for U.S. Ethane NW Europe EPD Announces Ethane Export Facility Current Feedstock Mix Announced plans to build a fully refrigerated ethane 8% export facility on Texas Gulf Coast Ethane Designed…
PDH Facility Update Capacity to produce up to 1.65 billion pounds per year of polymer grade propylene (25 MBPD) Will consume 35 MBPD of propane 100% of capacity is contracted under fee-based contracts that average 15 years with…
New Crudes and Changing Flows EPDs Assets Are At The Center Of It All Bakken Light Canada Heavy 1.5 3 0.9 1.5 2013 2020 2013 2020 Light Imports Eagle Ford & Permian Light 0.8 0.1 5 2013 2020 2.6 ECHO 2013 2020 Heavy…
Enterprise ECHO Distribution System Access to 8 MMBPD Refining and Water From Cushing Galena Park Sealy 24 Katy VLO H.R. PRSI Shell Pasadena Bertron Rancho 24 36 18 Motiva VLO TOT XOM Genoa Baytown ECHO Rancho II XOM 30 30…
Financial All rights reserved. Enterprise Products Partners L.P.
History of Financial Discipline While Executing Growth Strategy (1) (2) 4.5 Total Growth Capex & Debt Leverage Issued 2 billion Senior Notes 4.2 4.1 4. 7x in February 2014 4.0 3.9 850 million 10-year, 3.90% 3.6 3.7 4. 5x 3.5…
Strengthening Debt Portfolio Extending Maturities Without Increasing Costs 13.1 Billion Notes Issued 99.2% Fixed Rate Debt 2009 1Q 2014 15 14.6 8.8% 7.5% 8.8% 13 13.3 Average Maturity Years 12.4 Cost of Debt 6.5% 11…
No GP IDRs and Retained DCF Support Long-Term Distribution Growth Indicative Amount of EPD Growth Capital Required to Support 0.16/unit Distribution Growth based on No GP IDRs significantly Return on Capital (ROC) Assumptions(1)…
EPD and AMZ MLP Index Attractive Total Return vs. 8 Other Asset Classes 15-Year 10-Year 5-Year 3-Year 2006 2007 2008 2009 2010 2011 2012 2013 3M 2014 CAGR 1 CAGR 1 CAGR 1 CAGR 1 REIT Commodities IG Bonds MLP Index EPD EPD EPD EPD…
Appendix All rights reserved. Enterprise Products Partners L.P.
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…
MLP Math Illustrative Example All rights reserved. Enterprise Products Partners L.P.
Overview of Hypothetical Distribution Growth Analysis The slide on page 23 the following supporting schedules are intended to demonstrate the potential capital investment required to support our most recent annual distribution growth rate…
MLP Math: Illustrative Accretion from Investment 10.0% Assumed Return Source of Capital EPD Distribution Growth Matrix 100% Retained 40% Debt / 60% 40% Debt / 60% USD in millions, unless noted /unit DCF Retained DCF Common Units…
MLP Math: Illustrative Accretion from Investment 12.5% Assumed Return Source of Capital EPD Distribution Growth Matrix 100% Retained 50% Debt / 50% 50% Debt / 50% USD in millions, unless noted /unit DCF Retained DCF Common Units…
MLP Math: Illustrative Accretion from Investment 15.0% Assumed Return Source of Capital EPD Distribution Growth Matrix 100% Retained 60% Debt / 40% 60% Debt / 40% USD in millions, unless noted /unit DCF Retained DCF Common Units…
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