Atlas Pipeline Partners, L.P. Wells Fargo Securities Energy Symposium December 10-11, 2013 New York City
Atlas Pipeline Partners, L.P. (NYSE: APL) Growth-oriented midstream gathering & Invested over 530 million since 2011 in processing MLP with 14 processing plants, organic expansions across all of our 1.5 Bcf/d of processing capacity,…
APL Asset Overview 1 West OK System 4 Arkoma System Geographic Area: Anadarko Basin/Mississippi Lime Geographic Area: Woodford Shale/Arkoma Processing Capacity: 500 mmcfd Processing Capacity: 220 mmcfd 1 Processing Plants: 4…
Drilling in Texas and Oklahoma Remains Strong With significant operations in both the Permian basin in West Texas and the Eagle Ford shale in South Texas, Atlas Pipeline volume growth has benefitted from crude/condensate production in…
Strong Results Pave Way for Future Success Strong Foundation for Growth Operational and Financial Goals for 2013-2014 Partnership produced strong 2012 results as the result of record Most plants are all at or near capacity and…
Strategic Focus & Business Initiatives Targeting high rates of return on organic growth capital (fee contracts 15%+, commodity exposed contracts 20%+) Capital Utilize credit profile and liquidity to fund highly accretive projects at…
Operational Overview 8
Atlas Pipeline is Expanding its Entire Business System Previous Expansion New Timing Comment Capacity Capacity Velma 100 mmcfd 60 mmcfd 160 mmcfd Online now Expansion is contracted in full starting in 3Q 2013 for 9 years WestOK 258…
SouthTX Profile Overview SouthTX System Map Geographical Area: Eagle Ford Shale Silver Oak Plant Complex Key Producers Low Pressure Gas Gathering In Area Miles of Pipeline: Approx. 500 Proposed Gas Gathering Processing Capacity:…
WestOK Update Overview WestOK System Geographical Area: Anadarko Basin / Mississippi Lime Key Producers In Area Miles of Pipeline: Approx. 5,400 Processing Capacity: 500,000 Mcfd Number of Rigs Running: 28 Average Processed…
Velma Update Overview Velma System Geographical Area: Woodford Shale/Ardmore Basin Key Producers In Area Miles of Pipeline: Approx. 1,200 Processing Capacity: 160,000 mcfd Number of Rigs Running: 14 Average Processed Volume…
Arkoma Update Overview Arkoma System Geographical Area: Woodford Shale/Arkoma Basin Key Producers Seminole In Area Miles of Pipeline: Approx. 100 Grady Pottawatomie Caddo McClain Hughes Processing Capacity: 220,000 Mcfd (gross)…
WestTX Update Overview WestTX System Key Producers Geographical Area: Permian Basin In Area Miles of Pipeline: Approx. 3,300 Current Processing Capacity: 455,000 Mcfd Number of Rigs Running: 61 Average Processed Volume (mcf/d)…
West Texas LPG NGL Pipeline Overview West Texas LPG Geographical Area: Permian Basin, Barnett Shale Miles of Pipeline: Approx. 2,200 Transportation Capacity: 240,000 bbls/day Delivery to: Mont Belvieu Driver Plant Average Volume…
Contract Gas Treating Overview Overview Treating map Formed by Cardinal in Q4 2009, acquired by APL in December 2012 Provides in-roads to attractive plays and develops relationships with Granite Wash providers outside the Woodford…
Financial & Investment Overview 17
Summary Quarterly Performance Comparison 3rd Quarter Update ( in millions except as noted) 3Q 2013 2Q 2013 % Variance Throughput Volume (Mcfd) Partnership growth plans continued to be executed Velma Arkoma 157,330 265,992…
3Q 2013 Results similar to Last Quarter as Expansion Work Ongoing EBITDA & Distribution results Realized NGL price vs. Run-Rate Distributable Cash Flow/Unit similar to 2Q 2013 results as 1.40 3.40 DCF weaker realized gas prices and…
Financial Objectives Return leverage Structure Balance Maintain Adequate toward approx. 4.0x Sheet to Maintain Liquidity by end of 2014 Financial Flexibility Grow Fee Business Improve Credit Maintain Significant to over 45% of…
Significant Positive Credit Rating Developments (2010 - Today) Timeline of Recent Credit Upgrades & Activity for Atlas Pipeline Partners 2010 2011 2012 2013 Aug Sept Nov Feb Nov Sept Dec Dec Dec Feb Dec May Dec Current…
APL Fixed-Fee Trending Towards 40%+ of Margin by YE 2014 Pre-Elk City & LMM Sale (3Q 2010)* Current 3Q 2013 Contract Mix* Expected YE 2014 Contract Mix* Keep-Whole: 1% Fixed Keep- Fee Keep- Whole 17% Whole Fixed 14% Fixed 32% Fee…
Gross Margin Coverage for remaining 2013 is 89% including Hedges and Fee Business Unhedged 3% Keep-Whole Hedged 14% 11% 89% of run-rate Gross Margin is under Fee-Based arrangement or Hedged to Limit Commodity Price Exposure…
Commodity Exposure Well Protected for 2013-2014; Growing for 2015 Executing on Risk Total Risk Management Margin Coverage(1) Management Strategy, Average for 90% remaining including targeting up to 83% 81% 2013: 83% 80% of value…
Key Investment Highlights Gathering & Processing MLP with diversified assets in Oklahoma, Texas and Kansas Diversified Robust growth of drilling programs in attractive NGL-rich areas in Partnerships footprint asset base Significant…
Appendix 26
Atlas Organizational Structure 100% 100% Atlas Pipeline Atlas Resource Public Public Partners GP, LLC Partners GP, LLC 6.4% LP ** (1) 37% LP 2.0% GP & 5.8MM units 24.7MM units 2.0% GP & 100% IDRs 100% IDRs 93.6% LP ** 63%…
Reconciliation to Non-GAAP Measures Reconciliation to Non-GAAP Measures Three Months Ended LTM 30-Sep-13 30-Jun-13 31-Mar-13 31-Dec-12 30-Sep-12 30-Jun-12 30-Sep-13 Reconciliation of net income (loss) to other non-GAAP measures: Net…
Hedging Program Update Natural Gas Liquids & Condensate Hedges Natural Gas Hedges Swap Contracts - NGLs Swap Contracts - Natural Gas Rolling 36-Month Strategy Using Product Production Period Purchased/Sold Commodity Gallons Avg Fixed…
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