Morgan Stanley MLP/Diversified Natural Gas, Utilities & Clean Tech Conference February 28 and March 1, 2017 Boardwalk Pineville Compressor Louisiana Dillsboro Compressor Midstream: Station Station Sulphur (Dillsboro,…
Boardwalk Overview Boardwalk Pineville Compressor Louisiana Dillsboro Compressor Midstream: Station Station Sulphur (Dillsboro, Indiana)Hub 33
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…
Boardwalk is a diversified midstream MLP that primarily transports and stores natural gas and liquids Boardwalk 2016 Operational Highlights Natural Gas Liquids Pipelines (miles) 13,930 435 Throughput 2.3 Tcf 64.8 MMbbls Storage…
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…
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…
Strategy Boardwalk Pineville Compressor Louisiana Dillsboro Compressor Midstream: Station Station Sulphur (Dillsboro, Indiana)Hub 99
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…
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…
Growth Projects Underway: approx. 1.3 billion Northern Supply Access 230 million in planned capex Capacity: 284,000 MMBtu/d In service: March 2017 Other Projects to Serve End-Use Markets in Louisiana 170 million in planned…
Market Fundamentals Boardwalk Pineville Compressor Louisiana Dillsboro Compressor Midstream: Station Station Sulphur (Dillsboro, Indiana)Hub 13 13
Key Supply Basins: Production and Rig Counts Marcellus/Utica Fayetteville Production (a) Rig Count (b) Production (a) Rig Count (b) 40 12 150 3.0 10 30 2.5 Number of Rigs Number of Rigs 100 2.0 8 Bcf/d 20 Bcf/d…
Changing Flow Patterns Impacting Basis Spreads to Henry Hub DOMINION SOUTH POINT LEGEND Average Annual Spread (0.83) (0.99) 2017 0.02 2016 0.31 COLUMBIA GULF 2012 MAINLINE 2009 CENTERPOINT EAST (0.11) KOSCI (0.08) (0.18)…
Demand Forecast: LNG Exports Total US LNG Export Capacity (a) Bcf/d LNG Facilities Existing Approved Proposed Proposed by Location (Under Construction & (Pending (Pre-filing) Not Under Construction) Application) Texas - 6.4 6.9…
Demand Forecast: Power Plants U.S. Coal Retirements Forecasted Over the Next 15 Years POWER PLANTS We have executed approx. 2.5 Bcf/d of firm transportation We are directly connected to agreements with power 47 natural-gas-fired…
Demand Forecasts: Industrials INDUSTRIALS We provide approximately 190 industrial facilities with a combination of firm and interruptible natural gas and liquids transportation and storage services Forecasted Industrial Demand…
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…
Financial Highlights Boardwalk Pineville Compressor Louisiana Dillsboro Compressor Midstream: Station Station Sulphur (Dillsboro, Indiana)Hub 20
Financial Highlights Substantially a long-term, fixed-fee revenue base Significant portion of revenues backed by firm, ship-or-pay contracts with primarily investment-grade customers Internally generated cash flow, in excess of…
Boardwalk Revenue Profile Backed by Firm, Long-term Contracts Majority of revenues are under firm contracts Capacity reservation charges, representing approximately 81% of our revenue base, are received monthly regardless of…
Contracted Firm Transportation Revenues Contracted Annual Revenues from Capacity Reservation and Minimum Bill Charges under Committed Firm Transportation Agreements Based on contracts in place as of December 31, 2016 1,200…
EBITDA and Leverage Improving Long-Term Debt, net of Cash (at quarter end) EBITDA (Rolling Last Twelve Months) 3,750 850 3,698 3,700 803 800 3,650 778 763 3,600 3,584 ( millions) ( millions) 750 740 3,556 3,548 722 3,550…
Debt Maturity Schedule 900 In May 2016, Boardwalk Pipelines issued 550 million of 10-year In January 2017, Boardwalk 800 notes to pay off notes maturing in Pipelines issued 500 million of November 2016 and February 10-year notes to…
Capitalization Pro-Forma Adjustments Adjustments for for As Adjusted December 31, 2016 Financing December 31, 2017 Financing December 31, ( in millions, except ratio data) 2015 Activities 2016 Activities 2016 Debt: Steps to…
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…
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…
Morgan Stanley MLP/Diversified Natural Gas, Utilities & Clean Tech Conference February 28 and March 1, 2017 Boardwalk Pineville Compressor Louisiana Dillsboro Compressor Midstream: Station Station Sulphur (Dillsboro,…
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