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2Q 2017 Results – Semgroup Corporation

Semgroup Corporation · Aug 31, 2017 · 41 slides

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Slides

  1. 2Q 2017 Results – Semgroup Corporation – slide 1
    Investor Presentation Second Quarter 2017 Results August 2017
  2. 2Q 2017 Results – Semgroup Corporation – slide 2
    Investor Presentation - August 2017 Delivering Long-Term Value Transforming SemGroup from an upstream dependent company to a premier diversified energy infrastructure company Adding growth paths in exciting new areas: Gulf…
  3. 2Q 2017 Results – Semgroup Corporation – slide 3
    Investor Presentation - August 2017 Company Strengths Stable Cash Flows Counterparty Strength(2) Over 95% of gross margin is Over 70% of SemGroup's pro forma revenue is fee based derived from investment grade counterparties 4%…
  4. 2Q 2017 Results – Semgroup Corporation – slide 4
    Investor Presentation - August 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 230 crude oil trucks and trailers Maurepas…
  5. 2Q 2017 Results – Semgroup Corporation – slide 5
    Crude Business 7
  6. 2Q 2017 Results – Semgroup Corporation – slide 6
    Investor Presentation - August 2017 Crude Business Overview DJ Basin U.S. Gulf Coast White Cliffs Pipeline - 51% ownership Maurepas Pipeline DJ Basin to Cushing, Oklahoma 24-inch, 34 mile crude oil pipeline Two 527-mile, 12-inch…
  7. 2Q 2017 Results – Semgroup Corporation – slide 7
    Investor Presentation - August 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 2.6 years…
  8. 2Q 2017 Results – Semgroup Corporation – slide 8
    Investor Presentation - August 2017 Crude Business Overview Oklahoma/Kansas Assets Cushing Storage Glass Mountain Pipeline 50% ownership 7.6 million barrels of storage 215-mile pipeline 82% under long-term fixed fee contracts…
  9. 2Q 2017 Results – Semgroup Corporation – slide 9
    Investor Presentation - August 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…
  10. 2Q 2017 Results – Semgroup Corporation – slide 10
    HFOTCO 12
  11. 2Q 2017 Results – Semgroup Corporation – slide 11
    Investor Presentation - August 2017 Unique Position on the Houston Ship Channel Ship & Barge Docks Land Five ship docks which can receive up to Suez-max vessels 300 acres of waterfront land on the Houston Ship Channel with 45-foot…
  12. 2Q 2017 Results – Semgroup Corporation – slide 12
    Investor Presentation - August 2017 with Strong Connectivity to the Houston Refinery Complex Connects directly or indirectly to crude pipelines serving the Eagle Ford, Permian, Bakken, Midcontinent and Canada 14
  13. 2Q 2017 Results – Semgroup Corporation – slide 13
    Investor Presentation - August 2017 Diversified, Long-Term and Primarily Investment Grade Customers Approximately 88% of HFOTCOs 2016 revenue is generated by take-or-pay storage contracts The remaining 12% based on predictable…
  14. 2Q 2017 Results – Semgroup Corporation – slide 14
    Natural Gas Business 16
  15. 2Q 2017 Results – Semgroup Corporation – slide 15
    Investor Presentation - August 2017 SemGas Natural Gas Business SemGas Areas of Operation N. Oklahoma Avg Processed Volume 600 500 (mmcf/d) 400 300 200 325.9 290.6 284.4 284.2 273.6 262.8 100 0 1Q 2Q 3Q 4Q 1Q 2Q 2016…
  16. 2Q 2017 Results – Semgroup Corporation – slide 16
    Investor Presentation - August 2017 SemCAMS Natural Gas Business SemCAMS Areas of Operations Average Throughput Volume 600 500 407.6 (mmcf/d) 384.7 388.5 396.8 400 304.1 343.3 114.3 135.0 143.1 146.9 300 172.2 147.1…
  17. 2Q 2017 Results – Semgroup Corporation – slide 17
    Financials, Guidance & Capital Expenditures 19
  18. 2Q 2017 Results – Semgroup Corporation – slide 18
    Investor Presentation - August 2017 Second Quarter 2017 Results As Reported (in millions, excluding EPS, unaudited) 2Q 2017 1Q 2017 Net income (loss) attributable to SemGroup 9.6 (10.3) Net income (loss) per share - diluted 0.15…
  19. 2Q 2017 Results – Semgroup Corporation – slide 19
    Investor Presentation - August 2017 Leverage and Liquidity Standalone Pro Forma (in millions, unaudited) 6/30/2017 Adjustments 6/30/2017 SemGroup (B2 / B+)(1) (2) Revolving Credit Facility - 1.0 Billion due 2021 164 301 465…
  20. 2Q 2017 Results – Semgroup Corporation – slide 20
    Investor Presentation - August 2017 Updated 2017 Adjusted EBITDA Guidance Crude Adjusted EBITDA 330 million - 350 million Average Cushing storage rate: 0.33/barrel/month Maurepas Pipeline: completed Transportation volumes(3):…
  21. 2Q 2017 Results – Semgroup Corporation – slide 21
    Investor Presentation - August 2017 Updated 2017 Capital Expenditure Guidance 575 million Capex Spend on Strategic Crude and Natural Gas Projects 65 75 11% Key Committed Projects 13% Crude Projects Maurepas Pipeline…
  22. 2Q 2017 Results – Semgroup Corporation – slide 22
    Investor Presentation - August 2017 Key Projects Update Maurepas Pipeline 500 million(1) Pipeline construction of all three pipelines is complete 24 crude pipeline is operational and cash flowing 6 and 12 product pipelines are…
  23. 2Q 2017 Results – Semgroup Corporation – slide 23
    Investor Presentation - August 2017 Maurepas Pipeline Area Map Maurepas Pipeline Project Completed July 2017 25
  24. 2Q 2017 Results – Semgroup Corporation – slide 24
    Investor Presentation - August 2017 STACK Crude Omega Pipeline Provides significant operational synergies by connecting to Glass Mountain Pipeline Omega Pipeline 44-mile pipeline extension of Glass Mountain Pipeline to STACK…
  25. 2Q 2017 Results – Semgroup Corporation – slide 25
    Investor Presentation - August 2017 STACK SemGas Canton Pipeline Provides significant operational synergies with our existing assets Canton Pipeline 24-inch diameter natural gas pipeline, 50 miles long Originates from SemGroups…
  26. 2Q 2017 Results – Semgroup Corporation – slide 26
    Investor Presentation - August 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…
  27. 2Q 2017 Results – Semgroup Corporation – slide 27
    Investor Presentation - August 2017 HFOTCO Strategically Located Asset HFOTCO is strategically situated on the Houston Ship Channel in close proximity to both supply sources (residual fuel oil from refineries and domestic crude oil…
  28. 2Q 2017 Results – Semgroup Corporation – slide 28
    APPENDIX 30
  29. 2Q 2017 Results – Semgroup Corporation – slide 29
    Investor Presentation - August 2017 Consolidated Balance Sheets (in thousands, unaudited, condensed) June 30, December 31, 2017 2016 ASSETS Current assets 543,126 635,874 Property, plant and equipment, net 1,948,787 1,762,072…
  30. 2Q 2017 Results – Semgroup Corporation – slide 30
    Investor Presentation - August 2017 Consolidated Statements of Operations and Comprehensive Income (Loss) (in thousands, except per share amounts, unaudited, condensed) Three Months Ended Six Months Ended June 30, March 31, June…
  31. 2Q 2017 Results – Semgroup Corporation – slide 31
    Investor Presentation - August 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…
  32. 2Q 2017 Results – Semgroup Corporation – slide 32
    Investor Presentation - August 2017 Non-GAAP Adjusted EBITDA Calculation (in thousands, unaudited) Three Months Ended Six Months Ended June 30, March 31, June 30, Reconciliation of net income to Adjusted EBITDA: 2017 2016 2017 2017…
  33. 2Q 2017 Results – Semgroup Corporation – slide 33
    Investor Presentation - August 2017 Non-GAAP Financial Data Reconciliations Crude - Transportation Segment (in thousands, unaudited) Three Months Ended Six Months Ended June 30, March 31, June 30, 2017 2016 2017 2017 2016 Net…
  34. 2Q 2017 Results – Semgroup Corporation – slide 34
    Investor Presentation - August 2017 Non-GAAP Financial Data Reconciliations Crude - Facilities Segment (in thousands, unaudited) Three Months Ended Six Months Ended June 30, March 31, June 30, 2017 2016 2017 2017 2016 Net…
  35. 2Q 2017 Results – Semgroup Corporation – slide 35
    Investor Presentation - August 2017 Non-GAAP Financial Data Reconciliations Crude - Supply and Logistics Segment (in thousands, unaudited) Three Months Ended Six Months Ended June 30, March 31, June 30, 2017 2016 2017 2017 2016…
  36. 2Q 2017 Results – Semgroup Corporation – slide 36
    Investor Presentation - August 2017 Non-GAAP Financial Data Reconciliations SemGas Segment (in thousands, unaudited) Three Months Ended Six Months Ended June 30, March 31, June 30, 2017 2016 2017 2017 2016 Net income (loss)…
  37. 2Q 2017 Results – Semgroup Corporation – slide 37
    Investor Presentation - August 2017 Non-GAAP Financial Data Reconciliations SemCAMS Segment (in thousands, unaudited) Three Months Ended Six Months Ended June 30, March 31, June 30, 2017 2016 2017 2017 2016 Net income 6,652…
  38. 2Q 2017 Results – Semgroup Corporation – slide 38
    Investor Presentation - August 2017 Non-GAAP Financial Data Reconciliations SemLogistics Segment (in thousands, unaudited) Three Months Ended Six Months Ended June 30, March 31, June 30, 2017 2016 2017 2017 2016 Net income…
  39. 2Q 2017 Results – Semgroup Corporation – slide 39
    Investor Presentation - August 2017 Non-GAAP Financial Data Reconciliations SemMaterials Mxico Segment (in thousands, unaudited) Three Months Ended Six Months Ended June 30, March 31, June 30, 2017 2016 2017 2017 2016 Net…
  40. 2Q 2017 Results – Semgroup Corporation – slide 40
    Investor Presentation - August 2017 Non-GAAP Financial Data Reconciliations Corporate & Other Segment (in thousands, unaudited) Three Months Ended Six Months Ended June 30, March 31, June 30, 2017 2016 2017 2017 2016 Net loss…
  41. 2Q 2017 Results – Semgroup Corporation – slide 41
    Investor Presentation - August 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…

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