THIRD QUARTER 2014 CONFERENCE CALL PRESENTATION November 6, 2014
NON-GAAP MEASURES Distributable Cash Flow (DCF), Adjusted EBITDA are non-GAAP Financial Measures, and should not be considered separately from or as a substitute for net income, income from operations, or cash flow as reflected in our…
THIRD QUARTER 2014: FINANCIAL SUMMARY Record third quarter 2014 volume results: Total system volume of 4.6 Bcf/d for third quarter: 16% increase over the prior quarter; and 52% increase compared to the third quarter 2013 Marcellus…
T H I R D Q U A R T E R 2 0 1 4 : O P E R AT I O N A L & C O M M E R C I A L SUMMARY Completed five new projects: Seneca III 200 MMcf/d processing plant Sherwood IV 200 MMcf/d processing plant Sherwood V 200 MMcf/d processing plant…
SOUTHWEST SEGMENT OVERVIEW Processed Volumes (MMcf/d) 1,200 Average utilization of 85% during the 20% third quarter 2014 1,000 Forecasted Processed volumes increased 6% from Avg. Increase last quarter and 26% compared to the from…
MARCELLUS SEGMENT OVERVIEW MarkWest continues to achieve record volumes Processed Volumes (MMcf/d) and operating income at five major complexes 3,500 Processed volumes increased 22% when compared to last quarter and 95% from the…
M A R K W E S T M A R C E L L U S O P E R AT I O N S 24 facilities completed; 16 facilities under construction KEYSTONE COMPLEX HOPEDALE FRACTIONATION COMPLEX Butler Sarsen I 40 MMcf/d Operational (MarkWest & MarkWest Utica EMG…
UTICA SEGMENT OVERVIEW MarkWest Utica EMG continues to develop its Processed Volumes (MMcf/d) leading fully integrated midstream system in 1,000 eastern Ohio Operating income reached a record 11.7 900 110% million for the third…
M A R K W E S T U T I C A O P E R AT I O N S 7 facilities completed; 6 facilities under construction HOPEDALE FRACTIONATION COMPLEX MWE Gathering System (MarkWest & MarkWest Utica EMG shared MWE Utica Complex fractionation…
M A R C E L L U S & U T I C A F R A C T I O N AT I O N O V E R V I E W Fractionated Volumes (Bbl/d) 300,000 Total C2+ fractionated volumes for the third C3+ C2 quarter 2014 were a record 177 MBbl/d 250,000 55% Utilization of…
M A R K W E S T S T O TA L P R O C E S S E D V O L U M E F O R E C A S T 6.0 For 2015, total 5.0 processed volumes are forecasted to exceed 5 Bcf/d Processed Volumes (Bcf/d) 4.0 3.0 2.0 1.0 0.0 2011…
FINANCIAL SUMMARY MarkWest has over 1.0 billion of liquidity MarkWest preserves a strong balance sheet to fund growth As of today, we have over 1.0 billion of liquidity to support our capital investment program As of September 30,…
DCF & ADJUSTED EBITDA FORECAST 2015 DCF Forecast of 800 to 880 million & Adjusted EBITDA of 1.0 to 1.1 billion 1,200 1,000 22% Growth in DCF 1,000 - 1,100 DCF & Adjusted EBITDA ( in millions) & Adjusted EBITDA from…
CAPITAL INVESTMENT FORECAST 2015 Capital Investment Forecast of Growth Capital Investments and PP&E 1.8 to 2.3 billion Growth Capex Growth Capex as % of PP&E 2,500 35% Marcellus 72% 30% 2,000 25% 1,500 20% 15% 1,000…
APPENDIX
R E C O N C I L I AT I O N O F D C F & D I S T R I B U T I O N C O V E R A G E Nine Months Ended Year Ended ( in millions) 9/30/2014 12/31/2013 Net Income 115.0 40.4 Depreciation, amortization and other non-cash operating expenses…
R E C O N C I L I AT I O N O F A D J U S T E D E B I T D A LTM Ended Year Ended Year Ended ( in millions) 9/30/2014 12/31/2013 12/31/2012 Net income 111.1 40.4 217.0 Non-cash compensation expense 9.8 7.8 8.2 Unrealized (gain) loss…
R E C O N C I L I AT I O N O F N E T O P E R AT I N G M A R G I N Nine Months Ended Year Ended ( in millions) 9/30/2014 12/31/2013 Income from operations 267.1 245.9 Facility expenses 250.8 291.1 Derivative (loss) gain (7.6)…
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