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MLP Investor Conference – Enterprise Products Partners LP

Enterprise Products Partners LP · May 22, 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. MLP Investor Conference – Enterprise Products Partners LP – slide 1
    Enterprise Products Partners L.P. MLP Investor Conference May 22, 2013 Michael A. Creel www.enterpriseproducts.com Chief Executive Officer All rights reserved. Enterprise Products Partners L.P.
  2. MLP Investor Conference – Enterprise Products Partners LP – slide 2
    Key Investment Considerations Largest publicly traded energy partnership with an enterprise value over 70 billion 64th on Fortune 500; 226th on Fortune Global 500 Integrated midstream energy system serving producers and consumers of…
  3. MLP Investor 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. MLP Investor Conference – Enterprise Products Partners LP – slide 4
    Geographic and Business Diversification Provides 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%…
  5. MLP Investor Conference – Enterprise Products Partners LP – slide 5
    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…
  6. MLP Investor Conference – Enterprise Products Partners LP – slide 6
    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 / 4.3 MMBPD Permian South of Cushing /…
  7. MLP Investor Conference – Enterprise Products Partners LP – slide 7
    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…
  8. MLP Investor Conference – Enterprise Products Partners LP – slide 8
    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…
  9. MLP Investor Conference – Enterprise Products Partners LP – slide 9
    Review of Selected Major Projects All rights reserved. Enterprise Products Partners L.P.
  10. MLP Investor Conference – Enterprise Products Partners LP – slide 10
    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 header pipeline Fractionation expansions…
  11. MLP Investor Conference – Enterprise Products Partners LP – slide 11
    NGL Major Capital Growth Projects Western Expansion 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 year…
  12. MLP Investor Conference – Enterprise Products Partners LP – slide 12
    NGL Major Capital Growth Projects ATEX Express and Aegis ATEX Express 1,230 mile pipeline Capacity 190 MBPD, expandable 15 year ship-or-pay expected in-service 1Q 2014 80% of expected project costs locked in Aegis Ethane…
  13. MLP Investor Conference – Enterprise Products Partners LP – slide 13
    Portfolio of Major Capital Growth Projects Expanding Crude Oil Assets 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…
  14. MLP Investor Conference – Enterprise Products Partners LP – slide 14
    Future ECHO Supply Connectivity Multiple Grades of Crude with Access to Numerous Markets Valero Lyondell PRSI Shell Deer Park Beaumont / Port Arthur Galena Park Bertron Speed Exxon Baytown Pasadena Delivery Morgans…
  15. MLP Investor Conference – Enterprise Products Partners LP – slide 15
    EPDs Eagle Ford Shale Projects Cumulative Capital Expenditures: 4 Billion with 3.3 Billion Placed In Service To-Date Eagle Ford Crude / 900 Condensate Production 800 600 550 MBPD 300 Eagle Ford Crude / 214 Condensate…
  16. MLP Investor Conference – Enterprise Products Partners LP – slide 16
    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…
  17. MLP Investor 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 1000 15.2 14.7 U.S. petrochemical industry is retooling to 900 maximize ethane consumption 14 12.8 Shift to…
  18. MLP Investor Conference – Enterprise Products Partners LP – slide 18
    Financial All rights reserved. Enterprise Products Partners L.P.
  19. MLP Investor Conference – Enterprise Products Partners LP – slide 19
    (1) Solid Operating Performance 16 Natural Gas Pipeline Volumes Liquids Pipeline Volumes 4,492 4,500 14.3 14.5 14 13.8 4,300 4,289 12.7 4,205 11.9 12 4,100 TBtu/d 4,024 MBPD Offshore 3,990 10 3,900 Onshore 8…
  20. MLP Investor 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 2.5 2.3 2.0 1.6 1.2 1.5 1.0 0.9 0.0 0.5 2009 2010 2011 2012…
  21. MLP Investor Conference – Enterprise Products Partners LP – slide 21
    History of Financial Discipline Retaining DCF for Financial Flexibility Long-term focus 4,500 Distributable Cash Flow (Retained 4.7B 20091Q2013) Retaining DCF (equity) 4,000 capital similar to C-corps 3,500 1,051 1,031 Moderate…
  22. MLP Investor Conference – Enterprise Products Partners LP – slide 22
    Strengthening Debt Portfolio Extending Maturities Without Increasing Costs 15 8.0% 11.1 Billion Notes Issued 20092013 14.3 10.4% 13 7.0% 12.4 10.4% 11 Cost of Debt 6.1% 11.0 6.0% Year 5.7% 9 5.8% 5.7% 9.2 9.2…
  23. MLP Investor Conference – Enterprise Products Partners LP – slide 23
    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…
  24. MLP Investor 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 3M 2013 CAGR 1 CAGR 1 CAGR 1 REIT Commodities IG Bonds MLP Index EPD EPD EPD EPD REIT EPD EPD EPD EPD…
  25. MLP Investor Conference – Enterprise Products Partners LP – slide 25
    Non-GAAP Reconciliations All rights reserved. Enterprise Products Partners L.P.
  26. MLP Investor 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. MLP Investor 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. MLP Investor 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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