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RBC Capital Markets MLP Conference – DCP Midstream LP

DCP Midstream LP · Nov 18, 2015 · 19 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. RBC Capital Markets MLP Conference – DCP Midstream LP – slide 1
    INVESTOR PRESENTATION November 2015
  2. RBC Capital Markets MLP Conference – DCP Midstream LP – slide 2
    DCP ENTERPRISE OVERVIEW 3
  3. RBC Capital Markets MLP Conference – DCP Midstream LP – slide 3
    DCP Enterprise Total Assets (Billions) (3) (2) NGL Production (MBbls/d) (3) (2) Natural Gas Gathered & Processed/Transported (MMcf/d) (3) (2) Note: All ownership percentages and asset statistics are as of…
  4. RBC Capital Markets MLP Conference – DCP Midstream LP – slide 4
    Positioning DCP Enterprise for the Future 3 billion of cash and assets contributed to DCP Midstream Strong Owner Support Benefits to DPM Transaction closed October 30 Reinforces strength of GP and DPM PSX: 1.5 billion of cash…
  5. RBC Capital Markets MLP Conference – DCP Midstream LP – slide 5
    Industry Leading Position 63 Plants (1) 66,400 miles of Pipeline (1) Antrim 3rd straight DJ Basin Lucerne 2 year Marcellus Wattenberg Conway DCP Enterprise: Midstream Leader Front Range Midcontinent 1 NGL Producer…
  6. RBC Capital Markets MLP Conference – DCP Midstream LP – slide 6
    Footprint in Core Areas of Key Basins DJ Basin/North Strategic assets backed by strong producers Midcontinent DCP Enterprise: Strong capital efficiency Q315 Avg Plant Utilization(1) Net Processing Utilization Region Capacity…
  7. RBC Capital Markets MLP Conference – DCP Midstream LP – slide 7
    DCP MIDSTREAM PARTNERS OVERVIEW 8
  8. RBC Capital Markets MLP Conference – DCP Midstream LP – slide 8
    Compelling Investment Opportunity Premier Premier geographic footprint and diversified footprint business model supports growth strategy Demonstrated Long track record of strategy execution and execution delivering sustainable…
  9. RBC Capital Markets MLP Conference – DCP Midstream LP – slide 9
    Premier Footprint DCPs leadership position in premier basins provides DPM with organic growth opportunities and continued asset footprint expansions DCP Midstream Partners 23 plants, 9 fractionators 15,400 miles of pipelines…
  10. RBC Capital Markets MLP Conference – DCP Midstream LP – slide 10
    Distribution Track Record Sustainable distribution history 0.78 (/unit) 0.35 Q1'06 Q1'07 Q1'08 Q1'09 Q1'10 Q1'11 Q1'12 Q1'13 Q1'14 Q1'15 Distribution history highlights Track record of increasing or maintaining…
  11. RBC Capital Markets MLP Conference – DCP Midstream LP – slide 11
    Growth Execution Completed 275MM of forecasted growth capex YTD Sept 2015 2015 Capital Forecast (MM) Project Updates Segment In Service Growth Capex 300 Keathley Canyon (40% interest) Q115 Maintenance Capex 25-35 Lucerne 2 plant…
  12. RBC Capital Markets MLP Conference – DCP Midstream LP – slide 12
    Strong Credit Metrics and Liquidity Strong Credit Metrics 9/30/15 Strong Liquidity Credit Facility Leverage Ratio(1) 1.1 billion of available revolver capacity(2) 3.2x (max 5.0x) Substantial liquidity available on revolver…
  13. RBC Capital Markets MLP Conference – DCP Midstream LP – slide 13
    Strong fee-based and hedged margins Fee-Based Investments 2015 2016 Mont Belvieu Fracs Texas Express Pipeline Decreasing NGL Front Range Pipeline 80% commodity 45% Logistics: Sand Hills Pipeline / Laterals Hedged sensitive margins…
  14. RBC Capital Markets MLP Conference – DCP Midstream LP – slide 14
    Positioning DCP Enterprise for the Future Proactive and Strong producer measurable relationships in key response to basins provides industry tremendous market challenges intelligence Rightsized the DCP enterprise in January…
  15. RBC Capital Markets MLP Conference – DCP Midstream LP – slide 15
    SUPPLEMENTAL INFORMATION APPENDIX November 2015
  16. RBC Capital Markets MLP Conference – DCP Midstream LP – slide 16
    Proven Track Record of Sustainable Growth Adjusted EBITDA (MM)(1) DCF (MM)(1) Distribution Per LP Unit 2.3% 655-685 545-565 growth 3.05 536 471 2.86 2.70 365 296 2.55 252 2.44 180 179 150 143 109 2010 2011 2012 2013 2014…
  17. RBC Capital Markets MLP Conference – DCP Midstream LP – slide 17
    Forward Hedge Position as of Sept 30, 2015 Hedge Position 2015 2016 2017 NGL Hedges (Bbls/d) 15,168 2,228 Crude equivalent (Bbls/d) 4,634 752 NGL hedge price(/Gal) 0.94 0.94 Gas Hedges (MMBtu/d) 25,915 10,023 17,500 Crude…
  18. RBC Capital Markets MLP Conference – DCP Midstream LP – slide 18
    DPMs Business Segments Wholesale Propane Natural Gas Services(1) NGL Logistics(1) Logistics(1) 23 Plants, 5 Fractionators 4 Fractionators Owned Terminals: 11,300 miles of pipelines 4,100 miles of NGL pipelines 6 rail, 1 marine,1…
  19. RBC Capital Markets MLP Conference – DCP Midstream LP – slide 19
    DCP Midstreams Assets DCP & DPM in the DJ Basin DCP in the Permian DCP in the Midcontinent 9 Gas Processing Plants, 2 Fractionators 16 Gas Processing Plants, 2 fractionators 12 Gas Processing Plants 3,500 miles of pipelines 16,400…

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