Skip to main content Q4 2015 Investor Presentation – Targa Resources Corp. | Shale Experts
Loading...
Pm

Q4 2015 Investor Presentation – Targa Resources Corp.

Targa Resources Corp. · Feb 25, 2016 · 35 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. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 1
    Targa Resources Investor Presentation Fourth Quarter 2015 February 25, 2016
  2. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 2
    Targa Resources Corp. Closes Acquisition of TRP On February 17th, Targa Resources Corp. (Targa or TRC) closed its acquisition of all of the outstanding common units of Targa Resources Partners LP (TRP) not already owned by Targa All…
  3. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 3
    Targas New Public Structure TRC Public On February 18th, Targa announced a Shareholders 500 million 9.5% Series A Preferred Stock private placement with Stonepeak Infrastructure Partners 100% Interest (160,563,494 Shares) TRC…
  4. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 4
    Leverage and Financial Position Senior Note Maturities(1) On February 17th, Targa closed its acquisition 2,000 of TRP pro forma: Senior Note Maturities ( in MM) TRP continues as a reporting entity, and all 1,600 existing debt…
  5. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 5
    Business Mix, Diversity and Fee Based Margin Business Mix Field G&P Diversity FY 2015 Operating Margin FY 2015 Natural Gas Inlet Volumes 2% 8% 5% 17% 22% 47% 53% 20% 6% 7% 13% SAOU WestTX Sand Hills G&P Downstream Versado…
  6. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 6
    Diversity and Scale Help Mitigate Commodity Price Changes Adjusted EBITDA vs. Commodity Prices Adjusted EBITDA - Actual WTI Crude Oil Prices - Quarter Realized (1) Growth has been driven by investing in the 1,400 130 business, not…
  7. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 7
    Fee-Based Margin Provides Cash Flow Stability Increasing Fee-Based Margin Provides Additional Stability to Our Business 275 150% ( in millions) 251 140% 250 235 236 130% 227 225 219 120% 211 200 110% 187 100% 175 164 90%…
  8. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 8
    2016 Net Growth Capex Targa has four major projects underway, representing approximately 275 million of 2016E growth capex (net) Pre-funded equity portion of 2016E growth capex via a 125 million Series A Preferred Unit Offering in…
  9. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 9
    Counterparty Credit Exposure and Mitigants Area Potential Description of (Predominant Counterparty Payments Contract Type) Credit Risk Mitigants Downstream Targa invoices for fees N/A Low Creditworthiness of due customers…
  10. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 10
    Targas Attractive Asset Footprint
  11. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 11
    Attractive Asset Positions Despite Lower Producer Activity Rig activity has decreased significantly across the U.S. Targas footprint has been impacted, but positioning in some of the best basins / areas provides resiliency…
  12. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 12
    Producer Activity Drives NGL Flows to Mont Belvieu Rockies Growing field NGL production increases NGL flows to Mont Belvieu Increased NGL production could support Targas existing and expanding Mont Belvieu and Galena Park…
  13. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 13
    Logistics Assets Extensive Gulf Coast Footprint Fractionators Gross Net Capacity Capacity (MBbl/d) (MBbl/d)(2) CBF - Mont Belvieu(1) Trains 1-3 253 223 Backend Capacity 40 35 Train 4 100 88 GCF - Mont Belvieu 125 47 Total - Mont…
  14. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 14
    Targas LPG Export Business 2015 Targa LPG Exports by Destination 2015 Targa Propane and Butane Exports 15% 30% 50% 85% 20% Latin America/South America Caribbean Rest of the World Propane Butanes Fee based business…
  15. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 15
    Extensive Field Gathering and Processing Position Summary Footprint Over 24,000 miles of pipeline across attractive positions in the Permian Basin, Eagle Ford Shale, Barnett Shale, Anadarko Basin, Ardmore Basin, Arkoma Basin and…
  16. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 16
    Permian East Premier Midland Basin Footprint Summary Footprint Footprint includes approximately 5,700 miles of pipeline in the Midland Basin Targa is one of the largest Midland Basin gas processors with over 1.0 Bcf/d in gross…
  17. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 17
    Permian West Well Positioned to Capture Growth Summary Footprint Footprint includes approximately 5,000 miles of pipeline Growth opportunities driven by continued producer activity Processing capacity available at Versado to…
  18. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 18
    Strategic North Texas, SouthTX and Oklahoma Positions Summary Footprint Four footprints including approximately 13,000 miles of pipeline Over 1.8 Bcf/d of gross processing capacity Announced a joint venture with Sanchez Energy…
  19. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 19
    Strategic Position in the Core of the Williston Basin Summary Footprint System currently consists of oil gathering and terminaling and natural gas gathering and processing in McKenzie, Dunn and Mountrail Counties, ND Acquired in…
  20. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 20
    Additional Information
  21. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 21
    TRP Update 350 1,400 FY 2013 FY 2014 FY 2015 Q4 2013 Q4 2014 Q4 2015 325 1,191 300 1,200 258 250 237 1,000 970 in milions 221 in milions 203 868 199 798 200 800 763 171 635 150 137 600 116 515 446 422 100 400 50…
  22. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 22
    TRP Capitalization ( millions) Actual Actual 500MM Preferred Pro Forma Cash and Debt Maturity Coupon 9/30/2015 Adjustments 12/31/2015 Adjustments 12/31/2015 Cash and Cash Equivalents 92.8 42.6 135.4 0.7 136.1 Accounts Receivable…
  23. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 23
    TRC Capitalization ( millions) Actual Actual 500MM Preferred Pro Forma Capitalization Maturity 9/30/2015 Adjustments 12/31/2015 Adjustments 12/31/2015 Cash and Cash Equivalents -- 10.1 (5.3) 4.8 -- 4.8 Senior Secured Revolver (670…
  24. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 24
    Managing Capex Spending Illustrative Example Targa managed its 2015 growth Growth Capex(1) and Crude Oil Prices capex spending based on market 1,500 2015 Guidance Capex 2016 Guidance Capex WTI Crude Oil Price 100 conditions and will…
  25. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 25
    Dynamics of the LPG Market VLGC Freight Rates(1) Increasing VLGC Fleet(2) 1.80 0.35 300 +10 1.60 +44 0.30 250 1.40 +32 253 243 Number of VLGCs 0.25 1.20 200 199 1.00 0.20 /gal /gal 150 167 0.80 0.15 0.60 100…
  26. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 26
    Petroleum Logistics Highlights At TRPs Channelview and Patriot Terminals: Expanding presence along the Houston Ship Channel In 2014 completed construction of a new 8 bay truck rack and installed a marine vapor combustor for…
  27. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 27
    Marketing and Distribution Segment Marketing and Distribution Highlights NGL and Natural Gas Marketing Manage physical distribution of mixed NGLs and specification products using owned and third party facilities Manage inventories…
  28. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 28
    Well Positioned Along the Louisiana Gulf Coast Summary Footprint LOU (Louisiana Operating Unit) 440 MMcf/d of gas processing (180 MMcf/d Gillis plant, 80 MMcf/d Acadia plant and 180 MMcf/d Big Lake plant) Interconnected to Lake…
  29. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 29
    Reconciliations
  30. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 30
    Non-GAAP Measures Reconciliation Adjusted EBITDA - The Partnership defines Adjusted EBITDA as net income attributable to Targa Resources Partners LP before: interest; income taxes; depreciation and amortization; impairment of goodwill;…
  31. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 31
    Non-GAAP Reconciliation Q4 2015 EBITDA and Gross Margin The following table presents a reconciliation of Adjusted EBITDA and operating margin to net income (loss) for the periods shown for TRP: Three Months Ended Year Ended December 31,…
  32. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 32
    Non-GAAP Reconciliation DCF The following table presents a reconciliation of reported distributable cash flow to net income (loss) for the periods shown for TRP: Three Months Ended ( in millions) 31-Mar 30-Jun 30-Sep 31-Dec 31-Mar…
  33. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 33
    Non-GAAP Reconciliation 2010-2012 Fee-Based Margin The following table presents a reconciliation of operating margin to net income (loss) for the periods shown for TRP: Three Months Ended 3/31/2010 6/30/2010 9/30/2010 12/31/2010…
  34. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 34
    Non-GAAP Reconciliation 2013-2015 Fee-Based Margin The following table presents a reconciliation of operating margin to net income (loss) for the periods shown for TRP: Three Months Ended 3/31/2013 6/30/2013 9/30/2013 12/31/2013…
  35. Q4 2015 Investor Presentation – Targa Resources Corp. – slide 35
    1000 Louisiana Suite 4300 Houston, TX 77002 Phone: (713) 584-1000 Email: InvestorRelationstargaresources.com Website: www.targaresources.com 37

From the store

Browse maps, data & reports in the Shale Experts store