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1Q 2017 Earnings Call – Semgroup Corporation

Semgroup Corporation · May 24, 2017 · 40 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
    Investor Presentation First Quarter 2017 Results May 2017
  2. 1Q 2017 Earnings Call – Semgroup Corporation – slide 2
    Investor Presentation - May 2017 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…
  3. 1Q 2017 Earnings Call – Semgroup Corporation – slide 3
    Investor Presentation - May 2017 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…
  4. 1Q 2017 Earnings Call – Semgroup Corporation – slide 4
    Investor Presentation - May 2017 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…
  5. 1Q 2017 Earnings Call – Semgroup Corporation – slide 5
    Investor Presentation - May 2017 Crude Business Overview DJ Basin White Cliffs Pipeline - 51% ownership DJ Basin to Cushing, Oklahoma Two 527-mile, 12-inch pipelines 150,000 bpd current capacity Currently ships two crude types…
  6. 1Q 2017 Earnings Call – Semgroup Corporation – slide 6
    Investor Presentation - May 2017 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 2.8 years…
  7. 1Q 2017 Earnings Call – Semgroup Corporation – slide 7
    Investor Presentation - May 2017 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…
  8. 1Q 2017 Earnings Call – Semgroup Corporation – slide 8
    Investor Presentation - May 2017 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…
  9. 1Q 2017 Earnings Call – Semgroup Corporation – slide 9
    Investor Presentation - May 2017 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…
  10. 1Q 2017 Earnings Call – Semgroup Corporation – slide 10
    Investor Presentation - May 2017 Maurepas Pipeline Overview Project Construct, own & operate three pipelines for Motiva Enterprises, LLC in St. James, LA connecting Motiva's refineries 24-inch, 34 mile crude oil pipeline connected…
  11. 1Q 2017 Earnings Call – Semgroup Corporation – slide 11
    Investor Presentation - May 2017 Maurepas Pipeline Area Map 13
  12. 1Q 2017 Earnings Call – Semgroup Corporation – slide 12
    Investor Presentation - May 2017 SemGas Natural Gas Business SemGas Areas of Operation N. Oklahoma 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…
  13. 1Q 2017 Earnings Call – Semgroup Corporation – slide 13
    Investor Presentation - May 2017 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…
  14. 1Q 2017 Earnings Call – Semgroup Corporation – slide 14
    Investor Presentation - May 2017 SemCAMS Natural Gas Business SemCAMS Areas of Operations Average Throughput Volume 600 500 407.6 (mmcf/d) 384.7 388.5 396.8 400 304.1 114.3 135.0 143.1 146.9 300 147.1 200 100 270.4…
  15. 1Q 2017 Earnings Call – Semgroup Corporation – slide 15
    Investor Presentation - May 2017 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 & leverage current…
  16. 1Q 2017 Earnings Call – Semgroup Corporation – slide 16
    Investor Presentation - May 2017 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…
  17. 1Q 2017 Earnings Call – Semgroup Corporation – slide 17
    Investor Presentation - May 2017 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 -…
  18. 1Q 2017 Earnings Call – Semgroup Corporation – slide 18
    Investor Presentation - May 2017 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…
  19. 1Q 2017 Earnings Call – Semgroup Corporation – slide 19
    Investor Presentation - May 2017 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)…
  20. 1Q 2017 Earnings Call – Semgroup Corporation – slide 20
    Investor Presentation - May 2017 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…
  21. 1Q 2017 Earnings Call – Semgroup Corporation – slide 21
    Investor Presentation - May 2017 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…
  22. 1Q 2017 Earnings Call – Semgroup Corporation – slide 22
    Investor Presentation - May 2017 STACK Play Crude & Natural Gas Pipeline Projects 24
  23. 1Q 2017 Earnings Call – Semgroup Corporation – slide 23
    APPENDIX
  24. 1Q 2017 Earnings Call – Semgroup Corporation – slide 24
    Investor Presentation - May 2017 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…
  25. 1Q 2017 Earnings Call – Semgroup Corporation – slide 25
    Investor Presentation - May 2017 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…
  26. 1Q 2017 Earnings Call – Semgroup Corporation – slide 26
    Investor Presentation - May 2017 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…
  27. 1Q 2017 Earnings Call – Semgroup Corporation – slide 27
    Investor Presentation - May 2017 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)…
  28. 1Q 2017 Earnings Call – Semgroup Corporation – slide 28
    Investor Presentation - May 2017 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:…
  29. 1Q 2017 Earnings Call – Semgroup Corporation – slide 29
    Investor Presentation - May 2017 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:…
  30. 1Q 2017 Earnings Call – Semgroup Corporation – slide 30
    Investor Presentation - May 2017 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…
  31. 1Q 2017 Earnings Call – Semgroup Corporation – slide 31
    Investor Presentation - May 2017 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…
  32. 1Q 2017 Earnings Call – Semgroup Corporation – slide 32
    Investor Presentation - May 2017 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…
  33. 1Q 2017 Earnings Call – Semgroup Corporation – slide 33
    Investor Presentation - May 2017 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…
  34. 1Q 2017 Earnings Call – Semgroup Corporation – slide 34
    Investor Presentation - May 2017 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…
  35. 1Q 2017 Earnings Call – Semgroup Corporation – slide 35
    Investor Presentation - May 2017 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:…
  36. 1Q 2017 Earnings Call – Semgroup Corporation – slide 36
    Investor Presentation - May 2017 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…
  37. 1Q 2017 Earnings Call – Semgroup Corporation – slide 37
    Investor Presentation - May 2017 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…
  38. 1Q 2017 Earnings Call – Semgroup Corporation – slide 38
    Investor Presentation - May 2017 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…
  39. 1Q 2017 Earnings Call – Semgroup Corporation – slide 39
    Investor Presentation - May 2017 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…
  40. 1Q 2017 Earnings Call – Semgroup Corporation – slide 40
    Investor Presentation - May 2017 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…

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