Operations Report May 3, 2016 Strong. Innovative. Growing. 1
2016: Focused on Stability & Execution Solid Execution on 2016 Plan Confident in meeting 2016 Guidance; ENLK adjusted EBITDA of 195 MM in Q1 2016 Stable cash flows supported 1.09x distribution coverage at ENLK and 1.04x coverage at…
EnLink is Positioned in the Very Best Basins & Counties in the U.S. Top Basins By IRR Top Counties in the U.S. * IRR % Rig Count 16% 20 = rank according to Bentek Counties where EnLink is serving customers 1 (labels show basin &…
Execution in Core Growth Areas Focus on Oklahoma, Permian & Louisiana EnLink executing on growth plans in North Americas best resource plays Permian Louisiana Currently 10 rigs New project: began operating on dedicated exporting…
Strong Financial Position Well Positioned with a Strong Balance Sheet 900 MM of liquidity on 1.5 B credit facility at ENLK Strong Investment grade balance sheet at ENLK Balance Sheet Debt / adjusted EBITDA of 3.8x in Q1 2016…
Oklahoma Segment Growing in the STACK & SCOOP Segment Cash Flows Volumes in millions 1,000 MMBtu/d Q1 Performance 617 215 570 572 547 Significant volume and segment cash flow growth with the acquisition of Tall Oak 432 Midstream…
First Mile of Pipeline in the STACK Excellent Well Results & Improved Drilling Efficiency Excellent Well Results Devons best drilling results on dedicated acreage Have IP rates of 1,500-3,000 Boe/d Meramec Wells are producing 60%…
Texas Segment Great Execution in North Texas and Permian North Texas: great execution on maintaining Segment Cash Flows Volumes in millions 1,000 MMBtu/d cash flows and reducing costs 2,751 2,743 2,767 Benefitted from reduced…
First Mile of Pipeline in the Permian Excellent Well Results & Improved Drilling Efficiency Excellent Midland Basin Well Results Best well results on dedicated acreage have IP rates of 800-1,600 Boe/d Encouraging spacing tests…
Louisiana Segment Demand-Driven Platform for Growth Gas Business Updates Segment Cash Flows * in millions Meaningful year-over-year growth in natural gas 202 transmission and processing volumes Participating in opportunities to…
Louisiana Natural Gas Platform Premier Position for Demand-Driven Growth Louisiana Gas Consumption in 2015 Bcf/d 5% 0.2 Bcf/d 4.0 Bcf/d 25% 1.0 Bcf/d 70% 2.8 Bcf/d Louisiana Gas Delivered by EnLink in 2015 29% 1.4…
Louisiana NGL Platform Well Positioned for Demand-Driven Growth Louisiana Y-Grade NGL Fractionation Market Share in 2015 570 MBbl/d 29% 165 MBbl/d EnLink Other 71% 405 MBbl/d First export ship at Riverside facility. Photo…
The Last Mile of Demand Multiple Projects & Opportunities With Excellent Returns Napoleonville Gas Baton Rouge EnLink Growth Projects Completed and/or Contracted Eunice Purity Batching 21,000 Bbl/d Storage Industrial Corridor…
Crude & Condensate Segment Attractive Diversity of Services Segment Updates Segment Cash Flows in millions Developing additional gathering footprint in Permian Basin 71 VEX, Port of Victoria and Cuero terminal assets all…
Appendix Strong. Innovative. Growing. 19
2016 Guidance Focus on Stability & Execution Project growth in adjusted EBITDA and DCF in 2016 Focus on protecting strong, investment grade balance sheet Capital program focused on the most urgent and economic projects Stable cash…
2016 Guidance in millions except percentages, ratios and per unit information 2016 Guidance* EnLink Midstream Consolidated Adjusted EBITDA** 720 - 800 % of Gross Operating Margin from Fee-based Contracts 95% Growth Capital…
Stable Cash Flows Fee-Based Cash Flows from Quality Customers 2016E EnLink Midstream Consolidated * Gross Operating Margin Top 50 Customer By Contract Type ** Revenue Distribution*** 5% 10% Commodity Non- Sensitive Investment…
Current Organizational Chart Devon Public Energy Unitholders 64% 36% TPG/Goldman* EnLink Midstream, LLC ENLC owns 100% of IDRs 750MM Convertible Preferred 0.4% GP 23% LP 39% 13% LP LP 25% IDR LP 16% Dist./Q Split Level…
Leverage & Liquidity Long-Term Debt as of 3/31/2016 (in millions) 2.70% Senior unsecured notes due 2019 400.0 7.125% Senior unsecured notes due 2022 162.5 4.40% Senior unsecured notes due 2024 550.0 4.15% Senior unsecured notes…
Reconciliation Segment Cash Flows to Operating Loss Q1 2016 Crude and For the Quarter Ended March 31, 2016 Texas Louisiana Oklahoma Corporate Total Condensate Total segment cash flows (1) 107.4 41.2 48.5 16.6 5.6 219.3 Shared…
Reconciliation Segment Cash Flows to Operating Income Q1 2015 Crude and For the Quarter Ended March 31, 2015 Texas Louisiana Oklahoma Corporate Total Condensate Total segment cash flows (1) 99.9 48.2 35.3 12.8 3.9 200.1 Shared…
Reconciliation ENLK Net Loss to Adjusted EBITDA Q1 2016 Three Months Ended March 31, 2016 Net loss (562.9) Interest expense 43.7 Depreciation and amortization 121.9 Impairments 566.3 Loss from unconsolidated affiliate investments 2.4…
Reconciliation ENLK Net Income (Loss) to Adjusted EBITDA - 2015 Three Months Ended Year Ended March 31, June 30, September 30, December 31, December 31, 2015 2015 2015 2015 2015 Net income (loss) 35.7 55.4 (755.2) (714.1) (1,378.2)…
Reconciliation ENLK net cash provided by operating activities to Adjusted EBITDA Q1 2016 Three Months Ended March 31, 2016 Net cash provided by operating activities 189.1 Interest expense, net (1) 31.4 Current income tax 1.0…
Reconciliation ENLK net cash provided by operating activities to Adjusted EBITDA 2015 Three Months Ended Year Ended March 31, June 30, September 30, December 31, December 31, 2015 2015 2015 2015 2015 Net cash provided by operating…
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