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The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP

Tallgrass Energy, LP · Sep 30, 2015 · 26 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. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 1
    The Energy & Minerals Group 2015 Annual Meeting September 30, 2015
  2. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 2
    Summary Ownership Structure TEP Owners LP Ownership % Public 56% TDEV 10% Tallgrass Equity 33% Management, Kelso Tallgrass Equity Ownership % & EMG(1) Public (TEGP) 30% Management 17% Class B Kelso & EMG 53% Shares…
  3. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 3
    Tallgrass Energy Overview Two operating partnerships with distinct functions make up the Tallgrass platform which currently allows Tallgrass to develop assets at TDEV while reducing capex requirements and execution risk at TEP TDEV…
  4. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 4
    Two Attractive Investment Opportunities TEP Tallgrass Energy Partners TEGP Tallgrass Energy GP Master Limited Partnership Pure-Play General Partner Owns operating assets TEP Incentive Distribution Rights and GP interest Investors…
  5. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 5
    Tallgrass Execution
  6. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 6
    Recent Business Update Pony Express Rockies Express Pipeline Q2 2015 Operating and Financial Performance East-to-West Project Cash Flow In-service August 1st Distributed 60 million on an 8/8ths basis for Q2 Provides 1.2 Bcf/d…
  7. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 7
    Tallgrasss Execution of Stated Strategic Plan Tallgrass continues to demonstrate its ability to increase cash flow, reduce commodity exposure and grow its business Tallgrass Strategy Asset Stated Plan Accomplishments Reduce commodity…
  8. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 8
    Tallgrass Energy Accomplishments TEGP IPO TMID Keep Revolver Whole Contract Upsize to Conversion 850mm 570mm TEP Commence follow-on Equity At-the-Market Water 330mm Offering TIGT West End Equity Program Expansion Business TEP…
  9. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 9
    TEP Highlights
  10. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 10
    TEP is a High-Growth Traditional Midstream MLP Crude Oil Transportation and Logistics Processing and Logistics 764-mile FERC regulated crude oil pipeline from Processing and treating Guernsey, WY / NE Colorado to Cushing, OK 190…
  11. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 11
    Stable Cash Flow Profile Only 2% of TEPs next twelve months forecasted EBITDA is directly exposed to commodity prices and will be further strengthened with acquisitions of the last third of Pony and 50% of REX(1) Crude Oil…
  12. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 12
    High Quality Customer Base 60% of TEP revenue is derived from investment grade customers or investment grade corporate families Description Investment Grade Revenue(1) Established relationships across diverse, high-quality customer…
  13. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 13
    Visible Cash Flow Growth Dropdowns Organic Projects Since IPO, TEP has completed 3 dropdowns with an 2B+ of capital projects completed or in process(1) aggregate purchase price of 1.5B Emphasize return on capital deployed over amount…
  14. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 14
    Attractive Business Model Stable Operations Crude Oil Transportation & Logistics Segment Natural Gas Transportation & Logistics Segment Firm commitments totaling 300,000 bbl/d Majority of transportation revenue is Take or Pay 5-year…
  15. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 15
    Solid Financial Performance Guidance Outperformance Annualized LP Distribution TEP has consistently met or exceeded guidance (1) At IPO S-1 FY2013 FY2014 Adjusted EBITDA Maintenance Capex Coverage DPU Exceeded Guidance Met…
  16. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 16
    Appendix
  17. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 17
    TEP Segment Overview
  18. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 18
    Summary of Segments Sizable asset footprint which services some of the largest, most economic domestic basins 1 Crude Oil Transportation & Logistics Segment 2 Natural Gas Transportation & Logistics Segment 764-mile FERC regulated crude…
  19. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 19
    Crude Oil Transportation & Logistics Overview Asset Overview Current Footprint Powder River 764-mile FERC regulated crude oil pipeline from Guernsey, Basin WY / NE Colorado to Cushing, OK Guernsey WY Base capacity of 320,000…
  20. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 20
    Natural Gas Transportation & Logistics Overview Asset Overview Long Term Customer Base Consists of two FERC-regulated natural gas transportation & storage The top 15 customers weighted average systems (TIGT and Trailblazer) tenure of…
  21. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 21
    Processing & Logistics Overview Asset Overview Processing Footprint Processing and treating Powder River Big Horn 190 MMcf/d of processing capacity in the Powder Basin Basin River (PRB) and Wind River Basins in Wyoming 3,500 bbl/d…
  22. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 22
    TEP and TEGP Growth Opportunities
  23. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 23
    Dropdown Opportunity: Rockies Express Pipeline Prominent pipeline providing natural gas transportation service to North American energy markets REX is becoming the nations northernmost natural gas header system Attractive access to both…
  24. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 24
    (1) Dropdown Opportunity: Tallgrass Terminals Tallgrass Energy is utilizing the Pony system as an entry point into the terminals business Powder River Basin Located at the intersection of the Guernsey WY Guernsey to Sterling and…
  25. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 25
    Non-GAAP Reconciliations
  26. The Energy and Minerals Group Annual Meeting – Tallgrass Energy, LP – slide 26
    TEP EBITDA & DCF Reconciliation Six Months Year Ended December 31, Ended June 30, (in thousands) 2013 (1) 2014 2015 Net income attributable to partners 9,747 70,681 77,218 Add: Interest expense, net of noncontrolling interest…

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