Fourth Quarter Earnings Call February 14, 2017 Fourth Quarter and Year End 2016 Results 2017 Guidance Long-Term Outlook www.nblmidstream.com
Recent Highlights Strong 4Q Performance Driving Accelerated DPU Growth Commenced 20% Distribution per Unit (DPU) annual growth objective four quarters earlier than IPO expectation Expanding Delaware Basin Footprint Entered into a…
Fourth Quarter Results Commenced 20% DPU annual growth objective four quarters earlier than expected Declared first full quarter distribution of 0.3925 (1.57 annualized), a 4.7% increase over the MQD 2.0x coverage of 4Q distribution…
2.0x Coverage of 4Q Distribution 1.6x DCF1 coverage with normalized freshwater Gathering Segment Alone Providing Strong Coverage 4Q 2016 NBLX Net EBITDA and Distribution Coverage (1,2) Gathering segment alone provides DCF1…
Strategic Delaware Basin Acquisition and Partnership Transaction Overview & Rationale Joint Venture Structure (1) Entered definitive agreement with Plains All American Pipeline, L.P. to form a 50/50 joint venture to acquire…
Expanding Delaware Basin Footprint Advantage Details System Map Recently built pipeline that commenced operations in September 2013 70 mile, 16 inch crude oil pipeline connecting the Southern Delaware Basin to Crane, TX 150,000…
Midstream Services Portfolio Advantage Pipeline JV held by Trinity River DevCo Blanco River 25% Interest HWY 285 Trinity River Pump Station 100% Interest (1) Dedicated Service NBLX Dedicated Crude Oil Gas Prod. Water…
2017 Capital Budget 2017 capital projects well aligned with producers growth objectives Average Rigs 2017(E) Capital (1) on NBLX Dedicated Acreage 7 Net 6.3 Gross (attributable to the Partnership) 6 Trinity Colorado Trinity…
2017 DJ Basin Efficient expansions in Colorado River with growth projects underway in Green River and Laramie River Wells Ranch/East Pony IDP DJ Basin Rigs (1) NBL enhanced completion well results continue to on NBLX Dedicated…
2017 Delaware Basin 2 CGFs estimated to become operational in 2017 Phased infrastructure build out underway to support NBL's growth Includes 3-5 CGFs and 250 miles of gathering pipelines by 2020 Site preparation and…
2017 Guidance Detail 2016 2017 Estimates 3Q 4Q Full Year 1Q Full Year Oil Gathered (MBbl/d) 45 45 45 42 46 52 59 Gross Volumes Gas Gathered (BBtu/d) 142 146 132 140 150 154 165 Oil and Gas Gathered (MBoe/d) 63 64 62 60 65 72…
2017 Gross Volume Guidance Project start ups in 2H 2017 driving full year growth 2016 2017 (E) Produced Fresh Produced Fresh Oil & Gas Water Water Oil & Gas Water Water Gathered Gathered Delivered Gathered Gathered Delivered Fresh…
2020 Outlook Substantial organic growth with large existing drop-down inventory 2017 2020 Organic No Drop Downs CAGR 20% DPU Organic Net EBITDA 20% Growth while Building Distributable Cash Flow 20% Coverage Distribution per…
Appendix www.nblmidstream.com 16
EBITDA Reconciliation Non-GAAP Financial Measures This presentation includes EBITDA, Distributable Cash Flow, Cash Coverage and Free Cash Flow, all of which are non-GAAP measures which may be used periodically by management when…
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