CONE Midstream Partners LP RBC Capital Markets MLP Conference November 16, 2016
Q3 Highlights Another Quarter of Solid Performance Bottom line results ahead of internal expectations Increases over prior year (3Q 2015): Revenue (gross) up 13% Net CNNX Volumes up 31% Net Income to CNNX up 20% Adjusted EBITDA…
Inventory of Wells Drilled But Not Connected Anchor Growth Additional Total Wet Dry Inventory 12/31/15 60 0 62 122 68 54 2016 Well Connections Q1 TIL 26 0 0 26 0 26 Q2 TIL 8 0 6 14 6 8 Q3 TIL 1 0 0 1 0 1 Scheduled Q4 6 - 0 - 0…
Split of Sponsors Upstream JV a Win-Win-Win What Doesnt Change: Total acreage dedicated to CONE by CONSOL and Noble Gathering Rates Fundamental terms and conditions of gas gathering agreements Right of First Offer (ROFO) on…
Drop of Remaining Interest in Anchor System Key Terms: Total purchase consideration: 248 million Cash: 140 million, sourced from revolver draw Common LP Units: 108 million o Units priced based on 20 days VWAP preceding signing 0f…
Appendix
CONSOL Recap of Exchange Agreement Shows Split of Acreage Positions Source: CONSOL Energy Analyst Call Presentation Oct 31, 2016 8
Noble Sees Value Maximization for All Parties from JV Split Source: Noble Energy Earnings Call Presentation November 2, 2016 9
Non-GAAP Financial Measures EBITDA and Adjusted EBITDA We define EBITDA as net income (loss) before net interest expense, depreciation and amortization, and Adjusted EBITDA as EBITDA adjusted for non-cash items which should not be…
Loading...
