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1Q 2017 Earnings Call – Semgroup Corporation

Semgroup Corporation · May 5, 2017 · 30 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. 1Q 2017 Earnings Call – Semgroup Corporation – slide 1
    First Quarter 2017 Results Earnings Conference Call May 5, 2017
  2. 1Q 2017 Earnings Call – Semgroup Corporation – slide 2
    First Quarter 2017 Results First Quarter 2017 Results SemGroup Corporation (in millions, unaudited) 1Q 2017 4Q 2016 2017 Guidance Adjusted EBITDA(1) 60.7 66.2 270 - 310 million First Quarter Adjusted EBITDA Results SemCAMS -…
  3. 1Q 2017 Earnings Call – Semgroup Corporation – slide 3
    First Quarter 2017 Results 2017 Capital Expenditure Guidance 500 million to Strategic Crude and Natural Gas Projects 65 Key Committed Projects 13% Crude Projects Maurepas Pipeline completion late 2Q 2017: 180 million 185 180…
  4. 1Q 2017 Earnings Call – Semgroup Corporation – slide 4
    First Quarter 2017 Results SemGas STACK Pipeline Project Provides significant operational synergies with our existing assets Canton Pipeline 24-inch diameter natural gas pipeline, 50 miles long Originates from SemGroups Rose…
  5. 1Q 2017 Earnings Call – Semgroup Corporation – slide 5
    First Quarter 2017 Results Key Projects Update Maurepas Pipeline All field welds expected to be complete in May On budget and expected construction completion late 2Q 2017 STACK Crude Pipeline Acquired over 90% of right of…
  6. 1Q 2017 Earnings Call – Semgroup Corporation – slide 6
    First Quarter 2017 Results 1Q 2017 Results SemGroup Corporation As Reported (in millions, excluding EPS, unaudited) 1Q 2017 4Q 2016 Net income (loss) attributable to SemGroup (10.3) 12.0 Net income (loss) per share - diluted…
  7. 1Q 2017 Earnings Call – Semgroup Corporation – slide 7
    First Quarter 2017 Results Leverage and Liquidity SemGroup Corporation (in millions, unaudited) March 31, 2017 Refinanced 2021 Notes to achieve 1 billion revolver - 2021 90.0 lower borrowing costs and extended maturity 5.625%…
  8. 1Q 2017 Earnings Call – Semgroup Corporation – slide 8
    First Quarter 2017 Results Delivering Long-Term Value High Return Targeting 8% Financial Focus on Portfolio Growth Projects & Dividend CAGR Discipline & Strong Balance & Secure Strategic through 2020 Balance Sheet Cash…
  9. 1Q 2017 Earnings Call – Semgroup Corporation – slide 9
    Appendix 11
  10. 1Q 2017 Earnings Call – Semgroup Corporation – slide 10
    First Quarter 2017 Results SemGroup 2017 Guidance Guidance Assumptions (1) Average Commodity Price Assumptions(2) Adjusted EBITDA 270 million - 310 million Crude Oil: 54/barrel Natural Gas: 3.40/mmbtu (in millions) Natural Gas…
  11. 1Q 2017 Earnings Call – Semgroup Corporation – slide 11
    First Quarter 2017 Results Company Strengths Stable Cash Flows(1) Counterparty Strength(2) Over 90% of total LTM gross margin from Over 70% of SemGroup's revenue is derived from fixed fee based cash flows investment grade…
  12. 1Q 2017 Earnings Call – Semgroup Corporation – slide 12
    First Quarter 2017 Results Crude Key Performance Metrics Facilities - Cushing Storage 7.6 million Barrels Capacity Supply and Logistics Volumes 8 1.3 0.5 1.3 250 1.3 (Thousand Barrels per Day) 6 4.7 200 4 150 6.3 6.3…
  13. 1Q 2017 Earnings Call – Semgroup Corporation – slide 13
    First Quarter 2017 Results Natural Gas Key Performance Metrics SemGas Northern OK Avg Processed Volume 600 500 (mmcf/d) 400 300 200 325.9 290.6 284.4 284.2 273.6 100 0 1Q 2Q 3Q 4Q 1Q 2016 2017 Capacity Processing…
  14. 1Q 2017 Earnings Call – Semgroup Corporation – slide 14
    First Quarter 2017 Results Consolidated Balance Sheets (in thousands, unaudited, condensed) March 31, December 31, 2017 2016 ASSETS Current assets 672,770 635,874 Property, plant and equipment, net 1,834,400 1,762,072 Goodwill…
  15. 1Q 2017 Earnings Call – Semgroup Corporation – slide 15
    First Quarter 2017 Results Consolidated Statements of Operations and Comprehensive Income (Loss) (in thousands, except per share amounts, unaudited, condensed) Three Months Ended March 31, December 31, 2017 2016 2016 Revenues…
  16. 1Q 2017 Earnings Call – Semgroup Corporation – slide 16
    First Quarter 2017 Results 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…
  17. 1Q 2017 Earnings Call – Semgroup Corporation – slide 17
    First Quarter 2017 Results Non-GAAP Adjusted EBITDA Calculation (in thousands, unaudited) Three Months Ended March 31, December 31, Reconciliation of net income to Adjusted EBITDA: 2017 2016 2016 Net income (loss) (10,277)…
  18. 1Q 2017 Earnings Call – Semgroup Corporation – slide 18
    First Quarter 2017 Results Non-GAAP Financial Data Reconciliations Crude - Transportation Segment (in thousands, unaudited) Three Months Ended March 31, December 31, 2017 2016 2016 Net income 12,242 19,295 15,810 Add:…
  19. 1Q 2017 Earnings Call – Semgroup Corporation – slide 19
    First Quarter 2017 Results Non-GAAP Financial Data Reconciliations Crude - Facilities Segment (in thousands, unaudited) Three Months Ended March 31, December 31, 2017 2016 2016 Net income 6,884 7,705 11,756 Add: Interest…
  20. 1Q 2017 Earnings Call – Semgroup Corporation – slide 20
    First Quarter 2017 Results Non-GAAP Financial Data Reconciliations Crude - Supply and Logistics Segment (in thousands, unaudited) Three Months Ended March 31, December 31, 2017 2016 2016 Net income (loss) (3,961) 13,461 2,853…
  21. 1Q 2017 Earnings Call – Semgroup Corporation – slide 21
    First Quarter 2017 Results Non-GAAP Financial Data Reconciliations SemGas Segment (in thousands, unaudited) Three Months Ended March 31, December 31, 2017 2016 2016 Net income (loss) 3,673 (13,474) 4,385 Add: Interest expense…
  22. 1Q 2017 Earnings Call – Semgroup Corporation – slide 22
    First Quarter 2017 Results Non-GAAP Financial Data Reconciliations SemCAMS Segment (in thousands, unaudited) Three Months Ended March 31, December 31, 2017 2016 2016 Net income 3,506 3,276 931 Add: Interest expense 2,162…
  23. 1Q 2017 Earnings Call – Semgroup Corporation – slide 23
    First Quarter 2017 Results Non-GAAP Financial Data Reconciliations SemLogistics Segment (in thousands, unaudited) Three Months Ended March 31, December 31, 2017 2016 2016 Net income (loss) 1,285 (246) (155) Add: Interest…
  24. 1Q 2017 Earnings Call – Semgroup Corporation – slide 24
    First Quarter 2017 Results Non-GAAP Financial Data Reconciliations SemMaterials Mxico Segment (in thousands, unaudited) Three Months Ended March 31, December 31, 2017 2016 2016 Net income 406 696 2,068 Add: Income tax expense…
  25. 1Q 2017 Earnings Call – Semgroup Corporation – slide 25
    First Quarter 2017 Results Non-GAAP Financial Data Reconciliations Corporate & Other Segment (in thousands, unaudited) Three Months Ended March 31, December 31, 2017 2016 2016 Net loss (34,312) (35,606) (25,648) Add: Interest…
  26. 1Q 2017 Earnings Call – Semgroup Corporation – slide 26
    First Quarter 2017 Results 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…
  27. 1Q 2017 Earnings Call – Semgroup Corporation – slide 27
    First Quarter 2017 Results Reconciliation of Net Income to Adjusted EBITDA (in thousands, unaudited) Three Months Ended September 30, 2016 Crude - Crude - Crude - Supply and Corporate Transportation Facilities Logistics SemCAMS…
  28. 1Q 2017 Earnings Call – Semgroup Corporation – slide 28
    First Quarter 2017 Results Reconciliation of Net Income to Adjusted EBITDA (in thousands, unaudited) Year Ended December 31, 2016 Crude - Crude - Crude - Supply and Corporate Transportation Facilities Logistics SemCAMS…
  29. 1Q 2017 Earnings Call – Semgroup Corporation – slide 29
    First Quarter 2017 Results Reconciliation of Net Income to Adjusted EBITDA (in thousands, unaudited) Year Ended December 31, 2015 Crude - Crude - Crude - Supply and Corporate Transportation Facilities Logistics SemCAMS…
  30. 1Q 2017 Earnings Call – Semgroup Corporation – slide 30
    First Quarter 2017 Results 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…

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