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November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp

Boardwalk Pipeline Partners, Lp · Nov 14, 2016 · 24 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. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 1
    Investor Presentation November 2016 Boardwalk Pineville Compressor Louisiana Midstream: Station Sulphur Hub 1
  2. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 2
    Boardwalk Overview Boardwalk Pineville Compressor Louisiana Midstream: Station Sulphur Hub 33
  3. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 3
    Key Investment Highlights Diversified Primary services: Transportation and storage of natural gas and liquids midstream MLP Geographic footprint situated to serve growing supply and demand Approximately 90% of annual revenue is from…
  4. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 4
    Boardwalk is a diversified midstream MLP that primarily transports and stores natural gas and liquids Boardwalk 2015 Operational Highlights Natural Gas Liquids Pipelines (miles) 14,090 435 Throughput (2015) 2.4 Tcf 47 MMbbls Storage…
  5. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 5
    More on Boardwalk Louisiana Midstream and Evangeline Through Boardwalk Louisiana Midstream (BLM) and Evangeline Ethylene Pipeline, we provide liquids storage and pipeline transportation and brine supply services. BLM Choctaw Hub…
  6. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 6
    Boardwalks GP: Loews Corporation Subsidiary Our general partner is a wholly-owned subsidiary of Loews Corporation, a large diversified public company with four key operating subsidiaries in insurance, energy, and luxury lodging…
  7. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 7
    Boardwalk Organizational Structure BPHC Public Unitholders Loews Corporation Subsidiary 49% L.P. interest* 49% L.P. interest 2% G.P. interest Boardwalk Pipeline Partners, LP NYSE: BWP Boardwalk Pipelines, LP Texas Gas Gulf…
  8. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 8
    Strategy Boardwalk Pineville Compressor Louisiana Midstream: Station Sulphur Hub 99
  9. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 9
    Boardwalk Strategy Identify Leverage and Optimize Strategic Strengthen Asset Base Growth Existing Opportunities Assets Continue to identify and implement optimal Explore acquisitions and uses for assets, other opportunities that…
  10. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 10
    Growth Projects Placed Into Service in 2016 Southern Indiana Lateral 75 million in planned capex Western Kentucky Lateral Capacity: 53,500 MMBtu/d 80 million in planned capex In service: June 2016 Capacity: 230,000 MMBtu/d In…
  11. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 11
    Growth Projects Underway: approx. 1.2 billion Northern Supply Access 230 million in planned capex Capacity: 284,000 MMBtu/d In service: H1-2017 (est) Other Projects to Serve End-Use Markets in Louisiana 85 million in planned…
  12. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 12
    Market Fundamentals Boardwalk Pineville Compressor Louisiana Midstream: Station Sulphur Hub 13 13
  13. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 13
    U.S. Natural Gas Production is Forecasted to Grow 23% over the Next Five Years Supply Basins Connected to or Near Boardwalk System: SCOOP, STACK, Haynesville, Eagle Ford, Cana Marcellus/Utica 16 Woodford, Barnett and…
  14. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 14
    U.S. Natural Gas Demand and Exports are Forecasted to Grow 17% over the Next 5 Years Demand Markets: LNG Exports Power and Industrial Plants 16 14 14 12 12 10 10 Bcf/d Bcf/d 8 8 6 6 4 4 2 2 0 0 5-Year Growth…
  15. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 15
    Our Boardwalk Louisiana Midstream and Evangeline Assets are Well Situated to Provide Ethylene Transportation and Storage Services to Accommodate Forecasted Supply and Demand Legend Ethane Crackers Under Construction Ethane Crackers…
  16. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 16
    Changing Flow Patterns Impacting Basis Spreads to Henry Hub DOMINION SOUTH POINT LEGEND Average Annual Spread (0.81) (1.14) 2016 (0.21) 2015 0.31 COLUMBIA GULF 2013 MAINLINE 2009 CENTERPOINT EAST (0.09) KOSCI (0.06) (0.12)…
  17. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 17
    Financial Highlights Boardwalk Pineville Compressor Louisiana Midstream: Station Sulphur Hub 18
  18. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 18
    Financial Highlights Substantially a long-term, fixed-fee revenue base Significant portion of revenues backed by firm, ship-of-pay contracts with primarily investment-grade customers Internally generated cash flow, in excess of…
  19. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 19
    Boardwalk Revenue Profile Backed by Firm, Long-term Contracts Majority of revenues are under firm contracts Capacity reservation charges, representing approximately 80% of our revenue base, are received monthly regardless of…
  20. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 20
    EBITDA and Leverage Improving Long-Term Debt, net of Cash (at quarter end) EBITDA (Rolling Last Twelve Months) 3,700 3,670 800 778 3,650 780 763 760 3,600 740 740 3,550 722 3,527 ( millions) ( millions) 3,516 720 3,500…
  21. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 21
    Debt Maturity Schedule 900 Boardwalk Pipelines notes maturing in November 2016 and Revolving credit facility 800 February 2017 to be paid off from expires in May 2021(2) proceeds of 550 million of 700 Boardwalk Pipelines 10-year…
  22. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 22
    Capitalization Adjustments for December 31, 2016 Financing September 30, ( in millions, except ratio data) 2015 Activities 2016 Recent steps to enhance Debt: liquidity: Boardwalk 5.875% Notes due Nov 2016 Boardwalk 5.50% Notes due…
  23. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 23
    Key Investment Highlights Diversified Primary services: Transportation and storage of natural gas and liquids midstream MLP Geographic footprint situated to serve growing supply and demand Approximately 90% of annual revenue is from…
  24. November 2016 Investor Presentation – Boardwalk Pipeline Partners, Lp – slide 24
    EBITDA Reconciliation Non-GAAP Financial Measures Earnings before interest, taxes, depreciation and amortization (EBITDA) is used as a supplemental financial measure by Boardwalks management and by external users of Boardwalks financial…

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