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4Q and Full Year 2016 – Semgroup Corporation

Semgroup Corporation · Feb 28, 2017 · 36 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. 4Q and Full Year 2016 – Semgroup Corporation – slide 1
    Investor Presentation Post 4Q & Full Year 2016 Results
  2. 4Q and Full Year 2016 – Semgroup Corporation – slide 2
    Creating Long-Term Shareholder Value Strong foundation to execute on strategic growth and create shareholder value Simplified corporate structure, enhanced credit profile, prefunded capital needs for 2017 Targeting annual dividend…
  3. 4Q and Full Year 2016 – Semgroup Corporation – slide 3
    Company Strengths Stable Cash Flows(1) Counterparty Strength(2) 89% of total LTM gross margin from fixed fee based cash flows Nearly 70% of SemGroup's revenue is derived from investment grade counterparties 600 500 11% 11%…
  4. 4Q and Full Year 2016 – Semgroup Corporation – slide 4
    Crude and Gas Assets in Key Growth Areas Crude Oil 1,800 miles of crude oil pipelines 10 million barrels of crude oil storage capacity More than 225 crude oil trucks and trailers Maurepas Pipeline under construction(1) Locations:…
  5. 4Q and Full Year 2016 – Semgroup Corporation – slide 5
    Crude Business Overview DJ Basin White Cliffs Pipeline 51% ownership DJ Basin to Cushing, OK Two 527-mile, 12-inch pipelines 150,000 bpd current capacity Currently ships two crude types DJ Basin crude/condensate Kansas common…
  6. 4Q and Full Year 2016 – Semgroup Corporation – slide 6
    White Cliffs Pipeline Contract & Rate Structure Committed Take or Pay Volumes Wtd. Avg. Volumes Origination Rate (/bbl) Remaining (bpd) Contract Life(1) Platteville, CO 72,000 5.20 3.0 years Healy, KS 5,000 2.09 4.6 years 77,000…
  7. 4Q and Full Year 2016 – Semgroup Corporation – slide 7
    Crude Business Overview Oklahoma/Kansas Assets Cushing Storage Glass Mountain Pipeline 50% ownership 7.6 million barrels of storage 215-mile pipeline 83% under long-term fixed fee contracts with first 140,000 bpd current capacity…
  8. 4Q and Full Year 2016 – Semgroup Corporation – slide 8
    Crude Key Performance Metrics Facilities - Cushing Storage Supply and Logistics Volumes(2) 7.6 million Barrels Capacity 250 (Thousand Barrels per Day) 8 1.3 0.5 1.3 200 1.3 6 4.7 150 4 6.3 6.3 100 191.2 209.8 198.5 206.7 197.7…
  9. 4Q and Full Year 2016 – Semgroup Corporation – slide 9
    Glass Mountain Pipeline STACK Extension 215-mile-long pipeline delivers crude oil from the Mississippi Lime and Granite Wash plays to the Cushing storage hub SemGroup and NGL Energy Partners LP jointly own Glass Mountain Pipeline…
  10. 4Q and Full Year 2016 – Semgroup Corporation – slide 10
    Maurepas Pipeline Overview Project Construct, own and operate three pipelines for Motiva Enterprises, LLC in St. James, LA connecting Motiva's refineries 24-inch, 34 mile crude oil pipeline connected to LOCAP, crossing the Mississippi…
  11. 4Q and Full Year 2016 – Semgroup Corporation – slide 11
    Maurepas Pipeline Area Map 13
  12. 4Q and Full Year 2016 – Semgroup Corporation – slide 12
    SemGas Natural Gas Business SemGas Areas of Operation Northern Oklahoma Average Processed Volume (mmcf/d) 600 500 400 300 200 369.0 384.2 368.0 336.1 325.9 290.6 284.4 284.2 100 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2015 2016 Capacity…
  13. 4Q and Full Year 2016 – Semgroup Corporation – slide 13
    SemCAMS Natural Gas Business Average Throughput Volume (mmcf/d) SemCAMS Areas of Operation 600 500 394.4 385.4 373.4 384.7 388.5 396.8 400 348.0 91.9 96.6 106.0 114.3 304.1 135.0 143.1 300 93.4 147.1 200 302.5 288.8 254.6…
  14. 4Q and Full Year 2016 – Semgroup Corporation – slide 14
    Wapiti Sour Gas Plant in the Liquids-Rich Montney Play New 200 mmcf/d sour gas processing Wapiti plant will be integrated with our existing infrastructure to optimize and leverage current operations on the Wapiti Pipeline System…
  15. 4Q and Full Year 2016 – Semgroup Corporation – slide 15
    2016 - Year End Review & Results SemGroup Corporation (in millions, unaudited) 2016 Actuals 2016 Guidance(1) Adjusted EBITDA 282.8 270 - 320 CapEx(2) 306.6 350 Maurepas Pipeline 2016 Key Highlights construction Maurepas…
  16. 4Q and Full Year 2016 – Semgroup Corporation – slide 16
    SemGroup 2016 Capital Projects Review Maurepas Pipeline - expected completion late 2Q 2017 2016 Capital Expenditures - 307 million Isabel Pipeline - completed 1Q 2016 Wapiti Pipeline expansion - completed 3Q 2016 SemCAMS plant…
  17. 4Q and Full Year 2016 – Semgroup Corporation – slide 17
    Fourth Quarter & Full Year 2016 Results Year Ended As Reported (in millions, excluding EPS, unaudited) 4Q 2016 3Q 2016 2016 2015 (2) Net income (loss) attributable to SemGroup 12.0 (4.9) 2.1 30.3 (2) Net income (loss) per share -…
  18. 4Q and Full Year 2016 – Semgroup Corporation – slide 18
    Leverage & Liquidity December 31, (in millions, unaudited) 2016 1 billion revolver - 2021 20.0 7.500% Senior unsecured notes - 2021 300.0 5.625% Senior unsecured notes - 2022 400.0 5.625% Senior unsecured notes - 2023 350.0…
  19. 4Q and Full Year 2016 – Semgroup Corporation – slide 19
    SemGroup Corporation 2017 Guidance Guidance Assumptions Adjusted EBITDA of 270 million - 310 million(1) Average Commodity Price Assumptions(2) Crude Oil: 54/barrel Natural Gas: 3.40/mmbtu (in millions) Natural Gas Liquids:…
  20. 4Q and Full Year 2016 – Semgroup Corporation – slide 20
    2017 Capital Expenditures Guidance 2017 Capital Expenditures 500 million 65 13% Key Committed Projects 185 Crude Projects 180 37% Maurepas Pipeline completion late 2Q 2017: 180 million 36% Cushing 20 Pipeline completion 4Q 2017:…
  21. 4Q and Full Year 2016 – Semgroup Corporation – slide 21
    APPENDIX
  22. 4Q and Full Year 2016 – Semgroup Corporation – slide 22
    Consolidated Balance Sheets (in thousands, unaudited, condensed) December 31, December 31, 2016 2015 ASSETS Current assets 635,874 480,381 Property, plant and equipment, net 1,762,072 1,566,821 Goodwill and other intangible…
  23. 4Q and Full Year 2016 – Semgroup Corporation – slide 23
    Consolidated Statements of Operations and Comprehensive Income (Loss) (in thousands, except per share amounts, unaudited, condensed) Three Months Ended Year Ended December 31, September 30, December 31, 2016 2015 2016 2016 2015…
  24. 4Q and Full Year 2016 – Semgroup Corporation – slide 24
    2016 Quarterly Financial Data First Second Third Fourth (in thousands, except per share data, unaudited) Quarter Quarter Quarter Quarter Total Total revenues 314,851 287,377 327,764 402,172 1,332,164 Loss on disposal or impairment,…
  25. 4Q and Full Year 2016 – Semgroup Corporation – slide 25
    Non-GAAP Adjusted EBITDA Calculation (in thousands, unaudited) Three Months Ended Year Ended December 31, September 30, December 31, Reconciliation of net income to Adjusted EBITDA: 2016 2015 2016 2016 2015 Net income (loss) 12,000…
  26. 4Q and Full Year 2016 – Semgroup Corporation – slide 26
    Non-GAAP Financial Data Reconciliations Crude - Transportation Segment (in thousands, unaudited) Three Months Ended Year Ended December 31, September 30, December 31, 2016 2015 2016 2016 2015 Net income 15,810 6,057 13,052 59,951…
  27. 4Q and Full Year 2016 – Semgroup Corporation – slide 27
    Non-GAAP Financial Data Reconciliations Crude - Facilities Segment (in thousands, unaudited) Three Months Ended Year Ended December 31, September 30, December 31, 2016 2015 2016 2016 2015 Net income 11,756 6,705 7,697 34,608…
  28. 4Q and Full Year 2016 – Semgroup Corporation – slide 28
    Non-GAAP Financial Data Reconciliations Crude - Supply and Logistics Segment (in thousands, unaudited) Three Months Ended Year Ended December 31, September 30, December 31, 2016 2015 2016 2016 2015 Net income (loss) 2,853 2,598…
  29. 4Q and Full Year 2016 – Semgroup Corporation – slide 29
    Non-GAAP Financial Data Reconciliations SemGas Segment (in thousands, unaudited) Three Months Ended Year Ended December 31, September 30, December 31, 2016 2015 2016 2016 2015 Net income (loss) 4,385 16 3,750 (5,664) 16,704 Add:…
  30. 4Q and Full Year 2016 – Semgroup Corporation – slide 30
    Non-GAAP Financial Data Reconciliations SemCAMS Segment (in thousands, unaudited) Three Months Ended Year Ended December 31, September 30, December 31, 2016 2015 2016 2016 2015 Net income 931 3,646 5,080 11,612 7,879 Add: Interest…
  31. 4Q and Full Year 2016 – Semgroup Corporation – slide 31
    Non-GAAP Financial Data Reconciliations SemLogistics Segment (in thousands, unaudited) Three Months Ended Year Ended December 31, September 30, December 31, 2016 2015 2016 2016 2015 Net income (loss) (155) 1,276 948 (900) (1,624)…
  32. 4Q and Full Year 2016 – Semgroup Corporation – slide 32
    Non-GAAP Financial Data Reconciliations SemMaterials Mxico Segment (in thousands, unaudited) Three Months Ended Year Ended December 31, September 30, December 31, 2016 2015 2016 2016 2015 Net income 2,068 42 1,491 5,442 8,725 Add:…
  33. 4Q and Full Year 2016 – Semgroup Corporation – slide 33
    Non-GAAP Financial Data Reconciliations Corporate & Other Segment (in thousands, unaudited) Three Months Ended Year Ended December 31, September 30, December 31, 2016 2015 2016 2016 2015 Net loss (25,648) (21,317) (33,402)…
  34. 4Q and Full Year 2016 – Semgroup Corporation – slide 34
    Reconciliation of Net Income to Adjusted EBITDA (in thousands, unaudited) Three Months Ended March 31, 2016 Crude - Crude - Crude - Supply and Corporate Transportation Facilities Logistics SemCAMS SemLogistics SemMexico SemGas and…
  35. 4Q and Full Year 2016 – Semgroup Corporation – slide 35
    Reconciliation of Net Income to Adjusted EBITDA (in thousands, unaudited) Three Months Ended June 30, 2016 Crude - Crude - Crude - Supply and Corporate Transportation Facilities Logistics SemCAMS SemLogistics SemMexico SemGas and…
  36. 4Q and Full Year 2016 – Semgroup Corporation – slide 36
    Reconciliation of Net Income to Adjusted EBITDA (in thousands, unaudited) Year Ended December 31, 2014 Crude - Crude - Crude - Supply and Corporate Transportation Facilities Logistics SemCAMS SemLogistics SemMexico SemGas and Other…

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