Third Quarter 2017 Results – MPLX Lp

MPLX Lp · Oct 26, 2017 · 18 slides

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Third-Quarter 2017 Earnings Conference Call Presentation October 26, 2017
Highlights Completed acquisition of joint-interest ownership in certain pipeline and storage facilities from sponsor MPC Evaluating MPCs offer of remaining dropdown Reported record third-quarter adjusted EBITDA of 538 million and…
Logistics & Storage Segment Acquired joint-interest ownership in pipelines and storage facilities from MPC Explorer Pipeline Southern Access Extension Pipeline (SAX) Louisiana Offshore Oil Port (LOOP) Headquarters LOCAP MPLX…
Gathering & Processing Segment Marcellus & Utica Operations Processed Volumes Gathering Available Average Record volumes averaged over 2.3 Bcf/d Utilization Area Capacity Volume (%) (MMcf/d)(a) (MMcf/d) Third-quarter volumes up…
Gathering & Processing Segment Marcellus & Utica Fractionation Record fractionated volumes of Fractionated Volumes 365 MBPD Available Average Utilization Area Capacity Volume First full quarter of operations for (%) (MBPD)(a)(b)…
Gathering & Processing Segment Southwest Operations Processed Volumes Continued construction of gas processing plants in the Southwest Available Average Utilization Area Capacity Volume (%) (MMcf/d)(a) (MMcf/d) Delaware Basin…
3Q 2017 Financial Highlights Adjusted EBITDA Distributable Cash Flow 600 500 500 538 400 442 400 300 MM MM 300 375 301 200 200 100 100 0 0 3Q 2016 3Q 2017 3Q 2016 3Q 2017 Three Months Ended Segment Operating…
Adjusted EBITDA 3Q 2017 vs. 3Q 2016 Variance Analysis 600 58 538 500 64 13 28 400 375 MM 300 200 100 0 3Q 2016 Adjusted Logistics & Storage 1Q 2017 Drop 3Q 2017 Drop Gathering & Processing 3Q 2017 Adjusted EBITDA…
MPLX Capitalization, Leverage and Liquidity As of (MM except ratio data) 9/30/17 Cash and cash equivalents 3 Total assets 19,238 Total debt(a) 7,051 Redeemable preferred units 1,000 Total equity 10,086 Consolidated total…
2017 Forecast Not revised since second-quarter 2017 earnings materials Expect to finish 2017 above the high end of ranges provided with the exception of organic and maintenance capital expenditures, which are expected to finish…
Appendix 12
Growth Capital Forecast Projects expected to be completed in 2017 Est. Completion Logistics & Storage Est. Completion Gathering & Processing Projects Shale Resource Capacity Date Projects Date Rich- and Dry-Gas Gathering(a)…
Growth Capital Forecast Projects expected to be completed in 2018 Est. Completion Logistics & Storage Est. Completion Gathering & Processing Projects Shale Resource Capacity Date Projects Date Houston I Processing Plant(a) Marcellus…
Commodity Price Sensitivities 95% fee-based net operating margin, 5% commodity exposure for 2017 Maintain active hedging program with 35% of our 2017 commodity exposure currently hedged Annual 2017 sensitivities to commodity price…
Reconciliation of Adjusted EBITDA and Distributable Cash from Net Income (MM) 2013 2014 2015 1Q 2016 2Q 2016 3Q 2016 4Q 2016 1Q 2017 2Q 2017 3Q 2017 Net income (loss) 211 239 333 (14) 72 194 182 187 191 217 (a)The Partnership makes a…
Reconciliation of Adjusted EBITDA and Distributable Cash from Net Cash Provided by Operating Activities (MM) 3Q 2017 3Q 2016 YTD 2017 YTD 2016 Net cash provided by operating activities 494 305 1,338 975 Changes in working capital items…
Segment Operating Income Reconciliation to Income From Operations (MM) 3Q 2017 3Q 2016 L&S segment operating income attributable to MPLX 213 124 G&P segment operating income attributable to MPLX(a) 349 293 Segment portion attributable…
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