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UBS MLP One-on-One Conference 2016 – American Midstream Partners Lp

American Midstream Partners Lp · Jan 12, 2016 · 19 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. UBS MLP One-on-One Conference 2016 – American Midstream Partners Lp – slide 1
    Investor Presentation January 2016
  2. UBS MLP One-on-One Conference 2016 – American Midstream Partners Lp – slide 2
    Partnership overview Diversified natural gas and midstream operator 3,000 miles of pipelines 12 gas gathering systems 6 processing facilities1 5 major US resource plays 5 intrastate pipelines 3 interstate pipelines 3 terminal…
  3. UBS MLP One-on-One Conference 2016 – American Midstream Partners Lp – slide 3
    Growth strategy Diversifying portfolio to deliver long-term, sustainable distribution growth Acquisitions / Drop Downs Asset Development Organic Growth and Expansion Acquire nearby assets to consolidate Leverage development and…
  4. UBS MLP One-on-One Conference 2016 – American Midstream Partners Lp – slide 4
    Guidance Diversification strategy delivers strong 2016 guidance Adjusted EBITDA (millions)1 105 - 120 Conservative assumptions for 2016 Forward strip pricing: 2.65/dth and 50/bbl 65 - 70 Relatively flat volumes on existing assets2…
  5. UBS MLP One-on-One Conference 2016 – American Midstream Partners Lp – slide 5
    Improving financial flexibility Building distribution coverage in the near-term 1.1x 1.2x 1.00x Its important to note that we have sufficient 1.02x 1.89 1.89 distribution coverage in 2016 to increase 1.08x 1.85 distributions;…
  6. UBS MLP One-on-One Conference 2016 – American Midstream Partners Lp – slide 6
    Supportive General Partner Track record of multiple drop downs and financial support As the sponsor of the Partnership, we strongly believe the Partnerships current unit price undervalues the assets of the Partnership. In light of this…
  7. UBS MLP One-on-One Conference 2016 – American Midstream Partners Lp – slide 7
    Organic growth projects Executing on fee-based organic growth Permian Off-Spec Harvey Terminal Midla-Natchez Pipeline High Point Lateral Facility Condensate tanks Deepwater shipdock Midla pipeline construction 1920 Huertes Gate…
  8. UBS MLP One-on-One Conference 2016 – American Midstream Partners Lp – slide 8
    Delta House acquisition Fee-based cash flow from a de-risked, active deepwater Gulf of Mexico asset Located in the Mississippi Canyon region in deepwater Gulf of Mexico and operated by LLOG exploration; production commenced April 2015…
  9. UBS MLP One-on-One Conference 2016 – American Midstream Partners Lp – slide 9
    Compelling MLP investment Sustainable Building coverage to 1.1x to 1.2x in the near-term1 distribution Fee-based cash Greater than 90% fee-based cash flow1,2 flow Strong balance Improved financial flexibility; 4.0x to 4.5x…
  10. UBS MLP One-on-One Conference 2016 – American Midstream Partners Lp – slide 10
    Appendix: Partnership Overview
  11. UBS MLP One-on-One Conference 2016 – American Midstream Partners Lp – slide 11
    Guidance ( millions) 2016 Guidance 2015 Guidance Percent change1 Adjusted EBITDA 105 - 120 65 - 70 66.7% Distributable Cash Flow 70 - 85 50 - 55 47.6% Growth Capital Expenditures2 45 - 55 125 (60.0)% See Appendix slides 17-21 for…
  12. UBS MLP One-on-One Conference 2016 – American Midstream Partners Lp – slide 12
    Gathering and Processing Asset Overviews Approximate Average Pipeline Plant Throughput (MMcf/d) Longview (East Texas) Acquired October 2014 Design Design Length of Gathering system that feeds two cryogenic processing plants in Gregg…
  13. UBS MLP One-on-One Conference 2016 – American Midstream Partners Lp – slide 13
    Transmission Asset Overviews Approximate Average Approx. Throughput (MMcf/d) High Point System (SE Louisiana) Pipeline Length Intrastate system transporting natural gas from both onshore and Design Year Year of offshore producing…
  14. UBS MLP One-on-One Conference 2016 – American Midstream Partners Lp – slide 14
    Terminals Asset Overviews Terminal Storage Capacity (Mbbls) Three facilities Year Ended Year Ended As of Westwego, LA Terminal 12/31/13 12/31/14 9/30/2015 Harvey, LA Westwego - 1,045 1,045 Brunswick, GA Harvey - 238 535 Majority…
  15. UBS MLP One-on-One Conference 2016 – American Midstream Partners Lp – slide 15
    Appendix: Non-GAAP Financial Measures
  16. UBS MLP One-on-One Conference 2016 – American Midstream Partners Lp – slide 16
    Appendix: Non-GAAP Financial Measures (a) Direct operating expenses includes Gathering and Processing segment direct operating expenses of 10.1 million and 5.2 million, respectively, and Transmission segment direct operating…
  17. UBS MLP One-on-One Conference 2016 – American Midstream Partners Lp – slide 17
    Appendix: Non-GAAP Financial Measures (a) Excludes amortization of debt issuance costs and mark-to- market adjustments related to interest rate derivatives. (b) Represents quarterly maintenance capital expenditures in each given…
  18. UBS MLP One-on-One Conference 2016 – American Midstream Partners Lp – slide 18
    Appendix: Non-GAAP Financial Measures (a) Terminals segment amounts are for the period from April 15, 2013 to December 31, 2013 for the year ended December 31, 2013. (b) Direct operating expenses includes Gathering and Processing…
  19. UBS MLP One-on-One Conference 2016 – American Midstream Partners Lp – slide 19
    Appendix: Non-GAAP Financial Measures (a) Amounts noted represent the straight-line amortization of the cost of commodity put contracts over the life of the contract. (b) Excludes amortization of debt issuance costs and…

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