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Fourth Quarter 2016 – Enbridge Energy Partners Lp

Enbridge Energy Partners Lp · Feb 16, 2017 · 18 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. Fourth Quarter 2016 – Enbridge Energy Partners Lp – slide 1
    Fourth Quarter 2016 Supplemental Slides Enbridge Energy Partners, L.P. February 16, 2017
  2. Fourth Quarter 2016 – Enbridge Energy Partners Lp – slide 2
    Fourth Quarter Earnings (GAAP) Quarter Ended December 31, Segmented and corporate operating income (loss): 2016 2015 Change - Liquids 311.7 199.1 112.6 - Natural Gas (30.1) 1.2 (31.3) - Corporate (4.3) (3.5) (0.8) Operating income…
  3. Fourth Quarter 2016 – Enbridge Energy Partners Lp – slide 3
    Fourth Quarter Earnings (Adjusted) Quarter Ended December 31, 2016 2015 Change Segmented operating income (loss): - Liquids (1) 311.9 282.7 29.2 - Natural Gas (1) (3.7) 5.0 (8.7) - Corporate (4.3) (3.5) (0.8) Operating income(1)…
  4. Fourth Quarter 2016 – Enbridge Energy Partners Lp – slide 4
    Distribution Coverage As declared As paid As declared As paid Q4 2016 Q4 2016 YTD 2016 YTD 2016 Net income (loss) attributable to general and limited partner ownership in EEP 80.3 80.3 (162.4) (162.4) Noncash derivatives fair value…
  5. Fourth Quarter 2016 – Enbridge Energy Partners Lp – slide 5
    Segment Operating Income (Loss) (Adjusted) Quarter Ended December 31, Liquids 2016 2015 Change Operating revenue(1) 631.4 604.0 27.4 Power (70.6) (67.1) (3.5) Environmental costs (1) (1.9) (2.0) 0.1 Operating and administrative…
  6. Fourth Quarter 2016 – Enbridge Energy Partners Lp – slide 6
    Liquids Operating Income (Adjusted) Quarter Ended December 31, Liquids Adjusted Operating Income 2016 2015 Change Lakehead 267.9 226.5 41.4 Mid-Continent 17.4 19.5 (2.1) North Dakota 26.6 36.7 (10.1) Liquids adjusted operating…
  7. Fourth Quarter 2016 – Enbridge Energy Partners Lp – slide 7
    Lakehead Operating Income (Adjusted) Quarter Ended December 31, Lak ehead Adjusted Operating Income 2016 2015 Change (1) 533.1 486.7 46.4 Operating revenue Power (61.6) (57.9) (3.7) Operating and administrative expenses (1)…
  8. Fourth Quarter 2016 – Enbridge Energy Partners Lp – slide 8
    Mid-Continent Operating Income (Adjusted) Quarter Ended December 31, Mid-Continent Adjusted Operating Income 2016 2015 Change (1) 40.0 (2.8) Operating revenue 37.2 Power (1.6) (2.4) 0.8 Operating and administrative expenses (1)…
  9. Fourth Quarter 2016 – Enbridge Energy Partners Lp – slide 9
    North Dakota Operating Income (Adjusted) Quarter Ended December 31, North Dak ota Adjusted Operating Income 2016 2015 Change (1) 61.1 77.3 (16.2) Operating revenue Power (7.4) (6.8) (0.6) Operating and administrative expenses (1)…
  10. Fourth Quarter 2016 – Enbridge Energy Partners Lp – slide 10
    Capital Expenditures Q4 2016 YTD 2016 Maintenance Capex 23.4 69.5 (1)(2) Enhancement Capex 132.6 783.1 Ending PP&E, net 16,722.6 16,722.6 Q4 2016 Major Enhancement Expenditures Q4 2016 YTD 2016 Eastern Access (2) 16.0 167.7…
  11. Fourth Quarter 2016 – Enbridge Energy Partners Lp – slide 11
    Book Capitalization 12/31/2016 12/31/2015 Short-term debt - 300.0 Long-term debt (1) 7,684.4 7,528.4 Total Debt 7,684.4 7,828.4 Partners' capital(1) 8,361.8 9,482.1 Total Capitalization 16,046.2 17,310.5 Total Debt / Total…
  12. Fourth Quarter 2016 – Enbridge Energy Partners Lp – slide 12
    Volume History Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2014 2015 2015 2015 2015 2016 2016 2016 2016 Liquids Business - Volumes (kbpd) Lakehead 2,187 2,330 2,208 2,338 2,388 2,735 2,440 2,495 2,624 Mid-Continent 222 199 221 216 213 168 216 217…
  13. Fourth Quarter 2016 – Enbridge Energy Partners Lp – slide 13
    Adjusted Earnings The foregoing presentation makes reference to adjusted net income in order to exclude the effect of non-cash and other items that we believe are not indicative of our core operating results. A reconciliation to net…
  14. Fourth Quarter 2016 – Enbridge Energy Partners Lp – slide 14
    Adjusted Segment Operating Income (Loss) The foregoing presentation makes reference to adjusted operating income (loss), which is reconciled to nearest comparable GAAP measures as shown below. Liquids Natural Gas Q4 2016 Q4 2015 Q4…
  15. Fourth Quarter 2016 – Enbridge Energy Partners Lp – slide 15
    Adjusted Gross Margin The foregoing presentation makes reference to gross margin for the Natural Gas segment, which is reconciled to nearest comparable GAAP measures as shown below. Natural Gas Q4 2016 Q4 2015 Operating revenues…
  16. Fourth Quarter 2016 – Enbridge Energy Partners Lp – slide 16
    Adjusted EBITDA The foregoing presentation makes reference to adjusted EBITDA which is used as a supplemental financial measurement to manage the performance of the entity. A reconciliation of net income (loss) to adjusted EBITDA is…
  17. Fourth Quarter 2016 – Enbridge Energy Partners Lp – slide 17
    Distributable Cash Flow The foregoing presentation makes reference to distributable cash flow, which is used as a supplemental financial measurement to assess liquidity and the ability to generate cash sufficient to pay interest costs…
  18. Fourth Quarter 2016 – Enbridge Energy Partners Lp – slide 18
    Adjusted EBITDA to DCF A reconciliation of adjusted EBITDA to distributable cash flow is provided below. Three months ended Twelve months ended Distributable Cash Flow December 31, December 31, (unaudited; dollars in millions) 2016…

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