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September 2015 Corporate Presentation – Keyera Corp.

Keyera Corp. · Sep 21, 2015 · 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. September 2015 Corporate Presentation – Keyera Corp. – slide 1
    Corporate Profile September 2015
  2. September 2015 Corporate Presentation – Keyera Corp. – slide 2
    About Keyera Key service provider to oil and gas producers in western Canada Facilities are well situated to capture decades-long energy resources History of growing cash flow per share Large portion of cash flows are…
  3. September 2015 Corporate Presentation – Keyera Corp. – slide 3
    Excellent Track Record of Financial Performance Per Share (split-adj.) Historical Financial Results Payout Ratio 14% 2.50 100% 90% 2.00 80% 70% CAGR in distributable cash flow 1.50 60% per share2,4 50% 8% 1.00 40% 30%…
  4. September 2015 Corporate Presentation – Keyera Corp. – slide 4
    Industry Fundamentals Driving Keyeras Growth Infrastructure Required to Meet Growing Oil and Gas Production 5
  5. September 2015 Corporate Presentation – Keyera Corp. – slide 5
    Recently Completed Growth Projects Completed Projects In-Service Date Capital Cost1 (Net, in Millions) Rimbey Turbo Expander & Debottlenecking & Truck Offload Expansion July 2015 285 Josephburg Rail Terminal July 2015 115 Alder Flats…
  6. September 2015 Corporate Presentation – Keyera Corp. – slide 6
    Growth Projects Currently Under Development Approved Projects Capital Cost 2015 2016 2017 (Net, in Millions)1 Zeta Creek New Gas Plant Construction 41 Fort Saskatchewan Frac Expansion 176 Strachan Sulphur Sulvaris JV 120 Alder…
  7. September 2015 Corporate Presentation – Keyera Corp. – slide 7
    Keyeras Integrated Business Lines Gathering & Processing1 Liquids Business Unit Gas Plants NGL Infrastructure1 Marketing Oil Sands Infrastructure1 Solvent Crude Oil Diluent Bitumen 75% Fee-for-Service2 25% Margin2 1 Revenues…
  8. September 2015 Corporate Presentation – Keyera Corp. – slide 8
    Western Canada Sedimentary Basin Canada is home to some of the most economic natural gas plays in North America Significant multi-zone gas potential on the deeper (west) side of Western Canada Sedimentary Basin Spirit River Majority…
  9. September 2015 Corporate Presentation – Keyera Corp. – slide 9
    Gathering and Processing Business Unit Well maintained, long-life facilities 2.81 Bcf/d licensed gross capacity 2 new gas plants adding up to 164 MMcf/d licensed gross capacity2 Montney Keyera operates 16 of 17 gas plants and will…
  10. September 2015 Corporate Presentation – Keyera Corp. – slide 10
    Montney A World Class Resource Pipeline Legend Growing amount of western Canadian natural gas production Keyera New Keyera coming from the Montney geological horizon Select Third Party Recent Montney study1 estimates marketable…
  11. September 2015 Corporate Presentation – Keyera Corp. – slide 11
    Simonette Expanding to Handle Montney Production Wapiti pipeline system construction Pipeline opened a new capture area northwest of plant in the Wapiti area, where producers are drilling liquids-rich Montney zone Two 90-km…
  12. September 2015 Corporate Presentation – Keyera Corp. – slide 12
    Duvernay An Emerging Resource Development Duvernay developing in two areas Northern Duvernay and Southern Duvernay Multinationals have acquired significant land positions in both areas High levels of condensate and other NGLs…
  13. September 2015 Corporate Presentation – Keyera Corp. – slide 13
    Southern Duvernay Significant Infrastructure Available Keyera well positioned to capture Southern Duvernay volumes: 12 plants in the area with 2.2 Bcf/d gross licensed capacity1 2 new plants adding up to 164 MMcf/d of gross licensed…
  14. September 2015 Corporate Presentation – Keyera Corp. – slide 14
    Enhancing Service Offering at Rimbey Added 400 MMcf/d turbo expander to enhance liquids extraction: Ethane capacity up to 20,000 bbls/d Project underpinned by long-term ethane purchase agreement Net capital cost to Keyera of 255…
  15. September 2015 Corporate Presentation – Keyera Corp. – slide 15
    Growing Through Selective Acquisitions Acquisitions completed in 2014: New Plants (under construction): 35% non-operating owner of Alder Flats gas plant 60% operating owner of Zeta Creek gas plant Existing Plants: 85% operating…
  16. September 2015 Corporate Presentation – Keyera Corp. – slide 16
    Stable and Growing Gas Plant Throughput Gross Plant Throughput % Change in Commodity (MMcf/d) Historical Throughput and the Percentage Change in AECO & WTI Price since January 2003 350% 1,600 300% 1,400 250% 1,200 200% 1,000…
  17. September 2015 Corporate Presentation – Keyera Corp. – slide 17
    LNG Development Will Require Midstream Infrastructure Multi-decade resource potential being delineated 21 coastal LNG-related projects under various stages of development1 12 export licenses approved by the NEB2 Producers likely…
  18. September 2015 Corporate Presentation – Keyera Corp. – slide 18
    Liquids Business Unit Fractionation: Storage: 102,000 bbls/d of C2+ and C3+ net Currently 11.6 million bbls of gross capacity at 5 locations capacity in 12 underground caverns at Fort Saskatchewan Rail & truck terminals: Iso-octane…
  19. September 2015 Corporate Presentation – Keyera Corp. – slide 19
    Keyera Fort Saskatchewan (KFS) Expanding Fractionation Capacity Added 30,000 bbls/d de-ethanizer Fractionates an ethane-rich stream of NGLs (C2+ mix) into spec products Net cost of 179 million1, including pipeline connections and…
  20. September 2015 Corporate Presentation – Keyera Corp. – slide 20
    KFS Adding Underground Storage Capacity 13th storage cavern expected in-service 3Q151 14th storage cavern washing underway; expected in-service 2H161 15th storage cavern drilling of well bore completed; washing expected to commence…
  21. September 2015 Corporate Presentation – Keyera Corp. – slide 21
    Oil Sands Production Growth Expected to Continue Bitumen Production Forecast (Historical + Risked) Project Sanctioned and/or Capacity Company Under Construction (MB/d) Timing Imperial Oil Nabiye 40 2015 Pengrowth Lindbergh Phase 1 13…
  22. September 2015 Corporate Presentation – Keyera Corp. – slide 22
    Diluent Demand Drives Logistics Services Top 7 Consumers by Ranking of Operated Production Continued Growth In Demand For Condensate Infrastructure 23
  23. September 2015 Corporate Presentation – Keyera Corp. – slide 23
    Extensive, Flexible Condensate Infrastructure Most connected condensate hub in Western Canada Keyeras Condensate Network 600,000 bbls/d of condensate traded daily on Keyeras system 500,000 bbls/d of firm capacity contracted beyond…
  24. September 2015 Corporate Presentation – Keyera Corp. – slide 24
    Enbridge Norlite Pipeline Diluent pipeline from Fort Saskatchewan to Athabasca oil sands region Operated by Enbridge Keyera will be 30% non-operating owner Long-term take-or-pay agreement with owners of Fort Hills project Suncor,…
  25. September 2015 Corporate Presentation – Keyera Corp. – slide 25
    South Grand Rapids Pipeline 50/50 joint venture between Keyera and Grand Rapids Pipeline LP (TransCanada PipeLines and Brion Energy) 45-kilometre 20-inch diluent pipeline from Edmonton to Fort Saskatchewan Will provide Keyera with…
  26. September 2015 Corporate Presentation – Keyera Corp. – slide 26
    South Cheecham Terminal Diluent, Dilbit and Bitumen by Rail South Cheecham Rail and Truck Terminal completed in 3Q13 Ownership Keyera 50% (operator), Enbridge 50% Terminal capable of receiving diluent and loading dilbit and bitumen…
  27. September 2015 Corporate Presentation – Keyera Corp. – slide 27
    Alberta Crude Terminal Loading Crude Oil onto Rail 50/50 joint venture with Kinder Morgan, Land Acquired in 2014 operated by Keyera, completed in 3Q14 Connection to Kinder Morgans extensive storage facility provides customers access…
  28. September 2015 Corporate Presentation – Keyera Corp. – slide 28
    Josephburg Rail Terminal A Propane Solution for Industry Provides customers with new rail infrastructure to handle growing propane supply from liquids-rich production Improves propane egress into North American demand centres…
  29. September 2015 Corporate Presentation – Keyera Corp. – slide 29
    Hull, Texas Terminal Access to Mont Belvieu Rail and truck facility in Hull, Texas commissioned in 4Q14 Pipeline connected to Mont Belvieu NGL hub and Beaumont refining centre Handles NGL mix, propane, butane and iso-butane…
  30. September 2015 Corporate Presentation – Keyera Corp. – slide 30
    Alberta EnviroFuels (AEF) Iso-octane Manufacturing Iso-octane is a high octane, low vapour pressure gasoline additive AEF is only merchant iso-octane facility in North America Licensed capacity of 13,600 bbls/d Butane is the primary…
  31. September 2015 Corporate Presentation – Keyera Corp. – slide 31
    Base Line Terminal A Crude Oil Storage Solution for Industry 50/50 joint venture operated by Kinder Morgan Base Line Terminal Concept Rendering (KM) (View Looking North) 12 crude oil storage tanks with 4.8 million bbls of capacity…
  32. September 2015 Corporate Presentation – Keyera Corp. – slide 32
    Marketing Segment Diversified Portfolio of Logistics Services Condensate Keyeras C5 hub creates industry liquidity C5 Consumed in Alberta as diluent for bitumen Demand from the oil sands greatly exceeds Alberta-based supply…
  33. September 2015 Corporate Presentation – Keyera Corp. – slide 33
    Value Added By All Three Business Segments Thousands Operating Margin (Rolling LTM) 700 600 500 400 300 200 100 - Gathering & Processing NGL Infrastructure Marketing 1 Operating Margin shown excludes other…
  34. September 2015 Corporate Presentation – Keyera Corp. – slide 34
    Conservative Capital Structure 2.45x 16.9% Net Debt to Net Debt1 to Long-Term Debt Maturities3 EBITDA1 Enterprise Value2 300 250 200 CAD MM 264 150 100 109 167 143 125 50 97 60 60 75 0 2015 2016 2017 2018 2019…
  35. September 2015 Corporate Presentation – Keyera Corp. – slide 35
    Results for the Second Quarter of 2015 (Millions of Canadian dollars, except where noted) 2Q15 2Q14 Change Operating Margin Gathering & Processing 56 64 -9% NGL Infrastructure 55 49 12% Marketing 53 53 1% Other 7 0 1575% Total…
  36. September 2015 Corporate Presentation – Keyera Corp. – slide 36
    Trading Metrics KEY Trading Symbol (TSX) 42.98 Common Share Price1 7.3 B Market Capitalization1 8.8 B Enterprise Value1,2 169.7 M Common Shares Outstanding3 726,433 Average Daily Trading Volume4 1.50 Annualized Dividend per…
  37. September 2015 Corporate Presentation – Keyera Corp. – slide 37
    For further information, please contact: Lavonne Zdunich, CA Director, Investor Relations & Communications Nick Kuzyk, MBA Manager, Investor Relations 888-699-4853 irkeyera.com Keyera Corp. 600, 144 4 Avenue SW Calgary,…

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