Jefferies 2014 Global Energy Conference Houston, TX November 12, 2014 www.plainsallamerican.com NYSE: PAA & PAGP 1
Plains All American Structure One Business - Two Ways to Invest (NYSE: PAA & PAGP) General Partner General Partner Owners (1) Public PAGP Class A Shareholders 21% Oxy amount Structured as a limited partnership, represents but…
Plains All American Profile (NYSE: PAA & PAGP) Financial Profile(1) PAA Assets(4) Total Enterprise Value 47.3 B Pipelines (active miles) 18,150 miles PAA Equity Market Cap 21.1 B Liquids Storage 120 MMBbls PAGP et. al. Eq. Mkt…
PAAs Integrated Assets Are Located Throughout North America in Major Crude Oil Production & Liquids Rich Areas as well as Inland and Coastal Terminal & Interchange Locations PAA Handles 3.9 MMBbls/d of Crude Oil & NGLs…
PAAs Activities Are Conducted on Four Product Platforms Crude Oil is the Largest Areas of involvement Illustrative Adj. Net Revenue reflected in Yellow Crude Oil Contribution NGL 20% Crude oil 75% Natural Gas Liquids…
Durable, Fee-Based Cash Flow Each Segment is Underpinned by Infrastructure Assets Reporting Segments(1) Adjusted Segment Profit Supply & Logistics (Margin Based -- includes fee-based equivalent + upside) 840 Trucks, 980 Trailers…
PAA Has Delivered Solid Performance Throughout Volatile Markets and Fluctuating Petroleum Supply and Demand PAA Adjusted EBITDA : Actual Performance vs. Guidance Met or Exceeded Guidance for over 12 Years 2,500 (51 Consecutive…
North American Crude Oil Markets Current Environment is Very Attractive for PAA www.plainsallamerican.com NYSE: PAA & PAGP 9
US & Canadian Production Growth Expected to Continue Resource Base Well Defined; Drilling & Recovery Technology Proven Rate of Forecasted Volume Growth Is Dependent on Constructive Crude Oil Prices and Capital Availability US &…
North American Crude Oil Production Forecast by Region Dominated by the Big 6 and Western Canada Methodology Assumes Constructive Oil Prices, Constant Rig/Completion Count and Well Productivity and Continued Access To Capital Strong…
PAA is a Top Provider of Flexible Midstream Assets In Substantially All Major N.A. Crude Oil Resource Plays Volume Growth Driving Increased Infrastructure Requirements Projected North American Crude Oil Production Growth Volume Growth…
North American Supply Growth Expected to Effectively Satisfy World Wide Demand Growth To achieve North American supply projections and avoid oversupply, worldwide demand will need to increase and/or OPEC/other countries will need to…
Illustration of Why a Potential Price Decline Due to U.S. / Canada Oversupply is Self-Correcting The decline of shale/resource wells are very Illustration of Eagle Ford Declines on steep new well production can often Existing Producing…
Solid Industry Fundamentals + Asset Base + Business Model Support Continued High Levels of Organic Capital Investment Annual Levels of Organic Investment 2,400 2,150 2,000 Strong Visibility for 1,950 1,500 Growth 2,000 1,620 (In…
PAA 2014 Expansion Capital Program Based on guidance furnished via Form 8-K on November 5, 2014 Expansion Capital (in millions) St. James Permian Basin Area Projects 425 Facility Expansions Cactus Pipeline 350 Permian Basin Area…
Recent & Current Investments in Organic Capital Projects Provide Visibility for Future Distribution Growth Organic Growth Capital Investment Directional Example of Time Lag Between 2,400 2,050 Completion of Annual 2,000 Growth…
Permian Basin: PAA Assets Provide Critical Connectivity to New Export Pipelines New long-haul pipelines have been/are being constructed to relieve volumetric bottlenecks PAA assets are providing 1.2 MMBbls/d of capacity to connecting…
Diamond Pipeline Diamond Pipeline Announced on August 21st, a 440-mile, 200 MBbls/d crude pipeline from PAAs Cushing, OK Terminal to Valeros Memphis Refinery Total project investment: 900 million Expected in service late 2016…
Indigo Pipeline System Provides Additional Long-term Supply for Rainbow System Cadotte Station Existing Rainbow System Wabasca P/L Acquired Rainbow PL in 2008 Capacity: 195,000 Bbls/d Calven P/L 2013 vols: 119,000 Bbls/d Rainbow…
BridgeTex LLC Acquisition (50% Interest) Transaction Summary PAA to acquire Oxys entire 50% non-operating interest in BridgeTex Pipeline Company, LLC (BridgeTex) for 1.075 billion Currently a 50/50 joint venture between Oxy and…
BridgeTex LLC Acquisition (50% Interest) Expanding PAAs Market Access to the Gulf Coast 400 mile, 20 crude oil Colorado City pipeline from Colorado City, TX to East Houston Nameplate capacity: 300,000 Bbls/d 400 miles from…
Long Term, Acquisitions Expected to be Additive to Organic Growth PAA Remains Active, but Disciplined Acquisitions Total: 11 Billion(2) (2001-2014) 2.0 2006 2012 Subject to 3.1B 2.3B BridgeTex Closing 1.5 2007 2012 In…
Generating Meaningful Excess Cash Flow 2.3 Billion Excess Cash Flow Reinvested Over 12 Year Period (in millions) 12-Year DCF 11.2 billion 12-Year Distribution Coverage 126%(1) Favorable Market Conditions 1,800 1,600 1,400 21%…
Consistent Execution Of PAAs Strategy Has Driven Attractive Distribution Growth & Total Returns Over Multi-Year Period Annualized Year-end Distributions(1) Midpoint Target 10% Growth Increased 40 out of last 42 quarters 8.5%…
Closing Thoughts Strategically located, geographically diverse & operationally flexible assets Well positioned to benefit from dynamic crude markets and service high-growth liquids resource plays Proven business model & management…
Loading...
