Shell Midstream Partners, L.P. (SHLX) Morgan Stanley Presentation Shell Midstream Partners 1
Shell Midstream Partners Strategy Flagship Portfolio Mainstream High quality assets Midstream: Extensive runway of strategic Stable, Fee assets for future growth Based Cash Flows Financial Top Tier Growth…
Diversified Asset Base Portfolio of Assets As of August 3, 2017 Offshore Onshore Ownership % Ownership % Pipelines Pipelines Auger 100.0% Bengal 50.0% Cleopatra 1.0% Colonial 6.0% Endymion 10.0% Delta 100.0% Mars 48.6% Explorer…
Americas Shales: Material discovered + prospective resources 11 billion boe Selective US Western Canada Gas 25% liquids, 75% gas Growth in the Western Canada LRS Selective acceleration of liquids development Permian Fox creek Appalachia…
Permian Gas Gathering System Linking to Shells Upstream Footprint Transaction price: 47 million for 50% Shell Leasehold Proposed System Map interest In-service June 2017 under budget and ahead of schedule 100,000 acreage dedication…
Operational Results Zydeco Mainline Throughput Volume, kbpd Zydeco: Increasing volumes with new connections and Outer Belt solution to de-bottleneck volumes into St. James 800 628 541 544 592 589 Mars: Steady growth from new…
2017-2018 Cash Available for Distribution, million Growth +27% Guidance 83 91 89 68 70 60 61 46 37 28 31 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Historical and Targeted Distribution Growth…
Integrated Project Delivery: Falcon and Mattox Large-scale midstream projects connected to Sponsor growth priorities FALCON ETHANE PIPELINE: 97-mile ethane supply line for Shells Pennsylvania Chemicals Project Will connect gas-rich…
Summary Delivering on Strategy, building a mainstream midstream portfolio Diversified asset base Extending reach beyond Shell Pipeline Top tier distribution growth, 20% CAGR through 2018 Executing our Growth Strategy: Exercise of…
Questions and Answers For further questions, please contact Courtney Selinidis +1 832 337 0881 Courtney.SelinidisShell.com Shell Midstream Partners 11
Shell Midstream Partners
Financial Results Three Months Ended ( million) June 30, 2017 March 31, 2017 from Operations Revenue 86.8 70.2 Cost and Expenses 54.0 38.4 Operating Income 32.8 31.8 Income from Equity Investments 37.2 38.7 Dividend Income 6.2 7.3…
Non GAAP Three Months Ended Financial Metrics ( million except per unit amount) June 30, 2017 March 31, 2017 Adjusted EBITDA Attributable to SHLX (1) 82.7 86.6 Less: Net Interest Paid 7.5 4.8 Maintenance Capital Attributable to…
Balance Sheet ( million) As of June 30, 2017 Cash and Cash Equivalents 135 Total Debt Outstanding 1,265 Total Credit Facilities (Inc. Zydeco) 1,390 Liquidity Available (Cash + Debt Capacity) 260 Shell Midstream Partners 16
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