FOURTH-QUARTER AND FULL-YEAR 2015 EARNINGS Feb. 22, 2016
INDEX OKS Adjusted EBITDA Growth 4 Natural Gas Liquids Volume Update 5 Natural Gas Gathering and Processing Volume Update 7 Fourth Quarter vs. Third Quarter Segment Variances 9 Customer Credit 10 Appendix 11
OKS ADJUSTED EBITDA GROWTH DELIVERING RESULTS IN A CHALLENGING MARKET Q1 Q4 adjusted EBITDA Adjusted EBITDA and Distribution Coverage Ratio ( in thousands, except coverage ratio) increased 39% and distribution 450,248 coverage…
NATURAL GAS LIQUIDS VOLUME UPDATE Gathering Volume (MBbl/d) 11% - 14% CAGR Gathered volumes increased 44% in 2015, 175 compared with 2014, impacted by: 155 Volume growth in the Williston Basin, 800-870 Powder River Basin and…
ETHANE OPPORTUNITY BY BASIN INCREMENTAL ETHANE DEMAND Approximately one-third of all U.S. ethane being rejected is on ONEOK Partners NGL system ONEOK Partners NGL infrastructure already connects supply to Gulf Coast region…
NATURAL GAS GATHERING AND PROCESSING VOLUME UPDATE Gathered Volumes* (MMcf/d) Rocky Mountain 828 869 Q4 2015 gathered volumes increased 16%, 760 compared with Q3 2015, and 36% compared with Q4 657 2014 Lonesome Creek completed in…
WILLISTON BASIN VOLUME UPDATE Natural gas gathered volume expected to increase in 2016 Higher natural gas capture percentage (reduced flaring) as a result of pipelines, compression and processing plant placed in- service in late 2015…
BUSINESS SEGMENT PERFORMANCE Q4 2015 vs. Q3 2015 VARIANCES Natural Gas Liquids 27.1 million increase in our fee-based exchange-services, due primarily to increased volume in the Williston Basin in Q4 2015, timing of minimum volume…
CUSTOMER CREDIT INVESTMENT-GRADE PROFILE REDUCED RISK ONEOK Partners No single customer represents more than 10% of 2015 revenues, only 15 customers individually represented 1% or more of 2015 revenues The ten largest customers…
APPENDIX
NATURAL GAS GATHERING AND PROCESSING SEGMENT STATISTIC OVERVIEW Williston Basin More than 1 million acres of dedicated production in most productive areas of the basin Williston Basin Core-area initial production (IP) rates are 800 to…
NON-GAAP RECONCILIATIONS ONEOK PARTNERS ONEOK Partners has disclosed in this presentation its historical and anticipated adjusted EBITDA, distributable cash flow (DCF) and cash distribution coverage ratio, which are non-GAAP financial…
OKS NON-GAAP RECONCILIATIONS ( in Thousands) 1Q15 2Q15 3Q15 4Q15 Reconciliation of Net Income to Adjusted EBITDA and Distributable Cash Flow Net Income 147,032 211,610 229,665 9,565 Interest expense 80,709 86,492 86,666 85,044…
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