Discussion Outline Brief Overview of Plains All American Crude Oil Fundamentals Update PAAs Strategic Positioning PAAs Operating Leverage & Outlook www.plainsallamerican.com NYSE: PAA & PAGP 3
Simplified Organization Structure PAA GP Holdings, LLC Unified Board (PAGP GP) Financial structure provides flexibility and optionality Two publicly traded equity Public Investors securities (NYSE: PAGP) Investors Receive 1099…
PAA: A Leading Crude Oil & NGL Midstream Operator Focused On Optimizing Integrated System & Growing Fee-Based EBITDA Legend PAAs Crude Oil Value Chain Under Construction PAA Has: 1. Highly integrated crude oil pipeline &…
Activities Over The Last Year Improves PAAs Positioning For The Long-Term Operating Initiatives Financial Initiatives Continued to Execute Multi-Year Organic Initiated and Completed Simplification Growth Capital Program Transaction…
2017 Investor Day Key Takeaways Leading Permian Position (1.2mmb/d(1) of production growth from 2017 to 2019) PAAs largest asset base / most operating leverage; active across full crude oil midstream value chain with significant…
Illustrative Lower 48 Onshore Production Based On Regional U.S. Cash Flow Reinvestment At Various Crude Prices 11,000 Assumptions: For illustration, black line assumes 55/bbl and 2017 assumes 55 / bbl WTI in all cases PAAs…
U.S & Canada Crude Oil Production Could Increase 2.7 mmb/d From YE 2016 To YE 2018, 50% Of Which Is In The Permian Basin 2Q 2017 Case assumes 55 WTI and producers outspend cash flow as follows: % Outspend Permian Eagle Ford STACK DJ…
Permian, Eagle Ford, STACK And DJ Basins To Lead North American Production Growth 5,000 2,000 +2.7 mmb/d + 700 mb/d Permian Basin 2022 Eagle Ford 2022 4,000 2021 1,600 +325 mb/d 2021 +1.3 mmb/d 2020 2020 2015 2019 2019 2018…
Permian Production Growth Expectations Driving New Investment In Takeaway Capacity mb/d Permian Production vs. Operable Capacity (as needed, requires improved visibility) 5,000 4,500 2017 to 2019: New Project Assumption*: 4,000…
Incremental Volume Flowing To The U.S. Gulf Coast Will Require Export, Pressuring Market Clearing Price In The Gulf Cushing Expect majority of the increased production from the Permian to flow to the Gulf Coast Permian…
PAA Is Completing A Multi-Year Capital Program That Will Drive Cash Flow Growth Diamond Pipeline JV --Projects underway Permian Basin area gathering systems highlighted in purple-- and connections- includes Alpha gathering system…
PAA Permian Basin New Build Crude Oil Pipelines Permian to Cushing, OK April 18 Announced open season for committed pipeline capacity Origin points Midland, TX and Colorado City, TX. Open season volume: 350,000 b/d Expect to…
Recent Permian Investments Extends Reach, Market Access & Further Optimizes PAAs Existing Permian Basin System PAAs assets in Red and Blue ACC Acquisition Permian to Cushing Open Season BridgeTex Expansion Wink…
Diamond Pipeline Update Mid-Continent Demand Pull Growth Project Progressing Project Summary Status Update 440 mile, 20 pipeline from Cushing, OK to Project on track for 4Q17 Memphis, TN in-service timing 50/50 JV with VLO Pipeline…
PAAs Existing System Has Significant Incremental Earnings Capacity 2016 Investor Day Lookback Excerpts from 2016 Investor Day Estimated fee-based incremental upside over 2016 results 600 mm 2017 fee-based guidance up 220 mm over…
PAAs Fee-Based Operating Leverage Illustration Potential Growth Over 2017 Guidance With Recovery Current estimate with no-to-low addl CAPEX Including additional growth CAPEX 650mm Potential Upside 800+mm Potential Upside…
Operating Leverage Provides Potential For PAA EBITDA Of 3B+ Over The Next Several Years PAAs operating leverage drives growth potential in fee-based segments Builds on historical fee-based growth and continues to improve quality of…
Key Takeaways North American crude oil production growth to be lead by the Permian Basin PAAs Permian Basin assets provide an unmatched position in the largest growth basin Completion of key projects and expansions drives…
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