Third Quarter 2016 Earnings Conference Call Presentation October 27, 2016
Highlights Strategic initiatives announced by MPC support MPLXs distribution growth Reported strong results on higher volumes in the Northeast and Southwest Third-quarter adjusted EBITDA of 375 million Distributable cash flow of 301…
Logistics & Storage Segment Commenced operations of Cornerstone Pipeline, on schedule and under budget Continued construction of the Hopedale pipeline connection, with in-service expected by year-end Continued construction of…
Gathering & Processing Segment Southwest Operations 2016: Processed Volumes Processed volumes expected to Available Average Utilization increase 15% over prior year Area Capacity Volume (%) (MMcf/d)(a) (MMcf/d) Gathered volumes…
Gathering & Processing Segment Marcellus & Utica Operations Processed Volumes 2016: Available Average Processed volumes expected to Area Capacity Volume Utilization increase 15% over prior year (MMcf/d)(a) (MMcf/d) (%) Gathered…
Gathering & Processing Segment Marcellus & Utica Fractionation 2016 fractionated volumes expected to increase 30% over Fractionated Volumes prior year Available Average Utilization 2017 fractionated volumes Area Capacity Volume…
Organic Capital Investment 2016 organic growth capital 2016 Organic Capital Investment forecast of 1.1 B to 1.2 B 2017 organic growth capital 25% forecast of 1.2 B to 1.6 B 7% Gathering & Processing capital includes infrastructure…
Adjusted EBITDA 3Q 2016 vs. 3Q 2015 Variance Analysis 400 267 5 375 350 300 250 MM 200 150 100 32 66 5 50 0 3Q 2015 Adjusted L&S Marine Business MarkWest Other 3Q 2016 Adjusted EBITDA Attributable to EBITDA…
MPLX has Strong Financial Flexibility to Manage and Grow Asset Base As of (MM except ratio data) 9/30/16 Cash and cash equivalents 208 Total assets 16,415 Total debt 4,412 Redeemable preferred units 1,000 Total equity 10,154…
Commodity Price Sensitivities 90% fee-based net operating margin, 10% commodity exposed for 2017 Maintain active hedging program and have currently hedged 50% of our remaining 2016 commodity exposure; currently hedged 25% for 2017…
Forecast 12-15% distribution growth in 2017; double-digit distribution growth in 2018 Affirmed 2016 Forecast: Financial Measure 2016 Forecast Net Income(a) 140 million - 240 million Adjusted EBITDA(b) 1.3 billion - 1.4 billion Net…
Appendix 14
Growth Capital Forecast 2017 forecast 1.2 B - 1.6 B Est. Est. Gathering & Processing Projects Shale Resource Capacity Completion Logistics & Storage Projects Completion Date Date Marcellus and Utica Infrastructure Build-out Mid-2017…
Adjusted EBITDA and Distributable Cash Flow Reconciliation from Net Income (MM) 2013 2014 1Q 2015 2Q 2015 3Q 2015 4Q 2015 1Q 2016 2Q 2016 3Q 2016 Net income (loss) 211 239 68 76 63 42 (37) 20 143 Plus: Depreciation and amortization 70…
Segment Operating Income Reconciliation to Income From Operations (MM) 3Q 2015 3Q 2016 L&S segment operating income attributable to MPLX 81 124 G&P segment operating income attributable to MPLX(a) - 293 Segment portion attributable…
2016 Forecast - Adjusted EBITDA and Distributable Cash-Flow Reconciliation from Net Income (MM) Low High Net income 140 240 Plus: Depreciation and amortization 540 540 Impairment expense(a) 130 130 Net interest and other financial…
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