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2Q 2017 Earnings Call – Semgroup Corporation

Semgroup Corporation · Aug 7, 2017 · 27 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. 2Q 2017 Earnings Call – Semgroup Corporation – slide 1
    Second Quarter 2017 Results Earnings Conference Call August 7, 2017
  2. 2Q 2017 Earnings Call – Semgroup Corporation – slide 2
    Second Quarter 2017 Results Overview Achieving Significant Progress Base business performed as expected for 2Q 2017 Successfully completed the acquisition of Houston Fuel Oil Terminal Co. (HFOTCO) Strategic platform with…
  3. 2Q 2017 Earnings Call – Semgroup Corporation – slide 3
    Second Quarter 2017 Results HFOTCO Update SemGroup completed the acquisition of HFOTCO, one of the largest oil terminals in the U.S. on July 17, 2017 Initial consideration of 1.5 billion, comprised of: 301 million cash payment,…
  4. 2Q 2017 Earnings Call – Semgroup Corporation – slide 4
    Second Quarter 2017 Results 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 complete…
  5. 2Q 2017 Earnings Call – Semgroup Corporation – slide 5
    Second Quarter 2017 Results 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 (0.16)…
  6. 2Q 2017 Earnings Call – Semgroup Corporation – slide 6
    Second Quarter 2017 Results Leverage and Liquidity Second Quarter Actuals SEMG Standalone SEMG covenant net leverage 3.7x (target 4.5x; max 5.5x) SEMG available liquidity 850 million Pro Forma Leverage and Liquidity…
  7. 2Q 2017 Earnings Call – Semgroup Corporation – slide 7
    Second Quarter 2017 Results 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): flat year…
  8. 2Q 2017 Earnings Call – Semgroup Corporation – slide 8
    Second Quarter 2017 Results 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 completed: 180…
  9. 2Q 2017 Earnings Call – Semgroup Corporation – slide 9
    Second Quarter 2017 Results 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: Houston Ship…
  10. 2Q 2017 Earnings Call – Semgroup Corporation – slide 10
    Appendix 12
  11. 2Q 2017 Earnings Call – Semgroup Corporation – slide 11
    Second Quarter 2017 Results Company Strengths Stable Cash Flows(1) Counterparty Strength(2) Over 95% of total LTM gross margin from Over 70% of SemGroup's pro forma revenue is fee based cash flows derived from investment grade…
  12. 2Q 2017 Earnings Call – Semgroup Corporation – slide 12
    Second 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. 2Q 2017 Earnings Call – Semgroup Corporation – slide 13
    Second Quarter 2017 Results Natural Gas Key Performance Metrics SemGas Northern OK Avg Processed Volume 600 500 (mmcf/d) 400 300 200 325.9 290.6 284.4 284.2 273.6 262.8 100 0 1Q 2Q 3Q 4Q 1Q 2Q 2016 2017 Capacity…
  14. 2Q 2017 Earnings Call – Semgroup Corporation – slide 14
    Second Quarter 2017 Results 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 5.625%…
  15. 2Q 2017 Earnings Call – Semgroup Corporation – slide 15
    Second Quarter 2017 Results 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 Goodwill…
  16. 2Q 2017 Earnings Call – Semgroup Corporation – slide 16
    Second Quarter 2017 Results 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 30, 2017…
  17. 2Q 2017 Earnings Call – Semgroup Corporation – slide 17
    Second 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…
  18. 2Q 2017 Earnings Call – Semgroup Corporation – slide 18
    Second Quarter 2017 Results 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 2016…
  19. 2Q 2017 Earnings Call – Semgroup Corporation – slide 19
    Second Quarter 2017 Results 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 income…
  20. 2Q 2017 Earnings Call – Semgroup Corporation – slide 20
    Second Quarter 2017 Results 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 income…
  21. 2Q 2017 Earnings Call – Semgroup Corporation – slide 21
    Second Quarter 2017 Results 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 Net…
  22. 2Q 2017 Earnings Call – Semgroup Corporation – slide 22
    Second Quarter 2017 Results 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) 4,459 (325)…
  23. 2Q 2017 Earnings Call – Semgroup Corporation – slide 23
    Second Quarter 2017 Results 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 2,325…
  24. 2Q 2017 Earnings Call – Semgroup Corporation – slide 24
    Second Quarter 2017 Results 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 (loss)…
  25. 2Q 2017 Earnings Call – Semgroup Corporation – slide 25
    Second Quarter 2017 Results 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 income 633…
  26. 2Q 2017 Earnings Call – Semgroup Corporation – slide 26
    Second Quarter 2017 Results 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 (20,442)…
  27. 2Q 2017 Earnings Call – Semgroup Corporation – slide 27
    Second 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…

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