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3Q 2017 Earnings Call – Semgroup Corporation

Semgroup Corporation · Nov 7, 2017 · 42 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. 3Q 2017 Earnings Call – Semgroup Corporation – slide 1
    Investor Presentation Third Quarter 2017 Results November 2017
  2. 3Q 2017 Earnings Call – Semgroup Corporation – slide 2
    Investor Presentation - November 2017 Executing on Strategic Plan Looking ahead to 2018 and beyond our focus remains Canada Mid-Continent Gulf Coast Expect to fully pay HFOTCO second payment by end of 1Q 2018 Focused…
  3. 3Q 2017 Earnings Call – Semgroup Corporation – slide 3
    Investor Presentation - November 2017 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…
  4. 3Q 2017 Earnings Call – Semgroup Corporation – slide 4
    Investor Presentation - November 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 240 crude oil trucks and trailers Maurepas…
  5. 3Q 2017 Earnings Call – Semgroup Corporation – slide 5
    Crude Business 7
  6. 3Q 2017 Earnings Call – Semgroup Corporation – slide 6
    Investor Presentation - November 2017 Crude Business Overview DJ Basin U.S. Gulf Coast White Cliffs Pipeline - 51% ownership Maurepas Pipeline DJ Basin to Cushing, OK 24-inch, 34 mile crude oil pipeline Two 527-mile, 12-inch…
  7. 3Q 2017 Earnings Call – Semgroup Corporation – slide 7
    Investor Presentation - November 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 2.3…
  8. 3Q 2017 Earnings Call – Semgroup Corporation – slide 8
    Investor Presentation - November 2017 Crude Business Overview Oklahoma/Kansas Assets Cushing Storage Glass Mountain Pipeline 50% ownership(1) 7.6 million barrels of storage 215-mile pipeline 2017 average storage rate of 0.33 per…
  9. 3Q 2017 Earnings Call – Semgroup Corporation – slide 9
    Investor Presentation - November 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…
  10. 3Q 2017 Earnings Call – Semgroup Corporation – slide 10
    HFOTCO 12
  11. 3Q 2017 Earnings Call – Semgroup Corporation – slide 11
    Investor Presentation - November 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. 3Q 2017 Earnings Call – Semgroup Corporation – slide 12
    Investor Presentation - November 2017 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. 3Q 2017 Earnings Call – Semgroup Corporation – slide 13
    Investor Presentation - November 2017 Diversified, Long-Term and Primarily Investment Grade Customers Approximately 90% of HFOTCOs revenue(1) is generated by take-or-pay storage contracts The remaining 10% based on predictable…
  14. 3Q 2017 Earnings Call – Semgroup Corporation – slide 14
    Natural Gas Business 16
  15. 3Q 2017 Earnings Call – Semgroup Corporation – slide 15
    Investor Presentation - November 2017 SemGas Natural Gas Business SemGas Areas of Operation N. Oklahoma Avg Processed Volume 600 500 (mmcf/d) 400 300 200 325.9 290.6 284.4 284.2 273.6 262.8 250.4 100 0 1Q 2Q 3Q 4Q 1Q…
  16. 3Q 2017 Earnings Call – Semgroup Corporation – slide 16
    Investor Presentation - November 2017 SemCAMS Natural Gas Business SemCAMS Areas of Operations Average Throughput Volume 600 500 407.6 408.2 (mmcf/d) 384.7 388.5 396.8 400 304.1 343.3 114.3 135.0 143.1 146.9 140.9 300…
  17. 3Q 2017 Earnings Call – Semgroup Corporation – slide 17
    Financials 19
  18. 3Q 2017 Earnings Call – Semgroup Corporation – slide 18
    Investor Presentation - November 2017 Third Quarter 2017 Results As Reported (in millions, excluding EPS, unaudited) 3Q 2017 2Q 2017 Net income (loss) attributable to SemGroup (19.1) 9.6 Net income (loss) per share - diluted…
  19. 3Q 2017 Earnings Call – Semgroup Corporation – slide 19
    Investor Presentation - November 2017 Updated 2017 Adjusted EBITDA Guidance Crude 2017 FY Adjusted EBITDA 315 million - 330 million(1) Average Cushing storage rate: 0.33/barrel/month Maurepas Pipeline: completed Transportation…
  20. 3Q 2017 Earnings Call – Semgroup Corporation – slide 20
    Investor Presentation - November 2017 2017 Capital Expenditure Guidance 575 million Capex Spend on Strategic Projects 65 Key Committed Projects 75 11% 13% Crude Projects Maurepas Pipeline completed: 180 million Cushing 20…
  21. 3Q 2017 Earnings Call – Semgroup Corporation – slide 21
    Investor Presentation - November 2017 Key Projects Update Maurepas Pipeline 500 million(1) 24 crude pipeline operational and cash flowing late July 6 and 12 product pipelines operational and cash flowing in mid-September STACK…
  22. 3Q 2017 Earnings Call – Semgroup Corporation – slide 22
    Investor Presentation - November 2017 Maurepas Pipeline Area Map Maurepas Pipeline Project Completed July 2017 24
  23. 3Q 2017 Earnings Call – Semgroup Corporation – slide 23
    Investor Presentation - November 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…
  24. 3Q 2017 Earnings Call – Semgroup Corporation – slide 24
    Investor Presentation - November 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…
  25. 3Q 2017 Earnings Call – Semgroup Corporation – slide 25
    Investor Presentation - November 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…
  26. 3Q 2017 Earnings Call – Semgroup Corporation – slide 26
    Investor Presentation - November 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…
  27. 3Q 2017 Earnings Call – Semgroup Corporation – slide 27
    Investor Presentation - November 2017 Leverage and Liquidity Consolidated Consolidated net leverage 5.7x Consolidated available liquidity 736 million Targeting consolidated leverage of 5.0x or lower SEMG Standalone SEMG…
  28. 3Q 2017 Earnings Call – Semgroup Corporation – slide 28
    Investor Presentation - November 2017 Leverage and Liquidity (in millions, unaudited) 9/30/2017 SemGroup (B2 / B+)(1) Revolving Credit Facility - 1.0 Billion due 2021 332 5.625% Senior unsecured notes due 2022 400 5.625% Senior…
  29. 3Q 2017 Earnings Call – Semgroup Corporation – slide 29
    APPENDIX 31
  30. 3Q 2017 Earnings Call – Semgroup Corporation – slide 30
    Investor Presentation - November 2017 Consolidated Balance Sheets (in thousands, unaudited, condensed) September 30, December 31, 2017 2016 ASSETS Current assets 698,894 635,874 Property, plant and equipment, net 3,394,035…
  31. 3Q 2017 Earnings Call – Semgroup Corporation – slide 31
    Investor Presentation - November 2017 Consolidated Statements of Operations and Comprehensive Income (Loss) (in thousands, except per share amounts, unaudited, condensed) Three Months Ended Nine Months Ended September 30, June 30,…
  32. 3Q 2017 Earnings Call – Semgroup Corporation – slide 32
    Investor Presentation - November 2017 Non-GAAP Adjusted EBITDA Calculation (in thousands, unaudited) Three Months Ended Nine Months Ended September 30, June 30, September 30, Reconciliation of net income to Adjusted EBITDA: 2017…
  33. 3Q 2017 Earnings Call – Semgroup Corporation – slide 33
    Investor Presentation - November 2017 Non-GAAP Financial Data Reconciliations Crude - Transportation Segment (in thousands, unaudited) Three Months Ended Nine Months Ended September 30, June 30, September 30, 2017 2016 2017 2017…
  34. 3Q 2017 Earnings Call – Semgroup Corporation – slide 34
    Investor Presentation - November 2017 Non-GAAP Financial Data Reconciliations Crude - Facilities Segment (in thousands, unaudited) Three Months Ended Nine Months Ended September 30, June 30, September 30, 2017 2016 2017 2017…
  35. 3Q 2017 Earnings Call – Semgroup Corporation – slide 35
    Investor Presentation - November 2017 Non-GAAP Financial Data Reconciliations Crude - Supply and Logistics Segment (in thousands, unaudited) Three Months Ended Nine Months Ended September 30, June 30, September 30, 2017 2016…
  36. 3Q 2017 Earnings Call – Semgroup Corporation – slide 36
    Investor Presentation - November 2017 Non-GAAP Financial Data Reconciliations HFOTCO (in thousands, unaudited) Three Months Ended Nine Months Ended September 30, June 30, September 30, 2017 2016 2017 2017 2016 Net loss (5,293)…
  37. 3Q 2017 Earnings Call – Semgroup Corporation – slide 37
    Investor Presentation - November 2017 Non-GAAP Financial Data Reconciliations SemGas Segment (in thousands, unaudited) Three Months Ended Nine Months Ended September 30, June 30, September 30, 2017 2016 2017 2017 2016 Net…
  38. 3Q 2017 Earnings Call – Semgroup Corporation – slide 38
    Investor Presentation - November 2017 Non-GAAP Financial Data Reconciliations SemCAMS Segment (in thousands, unaudited) Three Months Ended Nine Months Ended September 30, June 30, September 30, 2017 2016 2017 2017 2016 Net…
  39. 3Q 2017 Earnings Call – Semgroup Corporation – slide 39
    Investor Presentation - November 2017 Non-GAAP Financial Data Reconciliations SemLogistics Segment (in thousands, unaudited) Three Months Ended Nine Months Ended September 30, June 30, September 30, 2017 2016 2017 2017 2016 Net…
  40. 3Q 2017 Earnings Call – Semgroup Corporation – slide 40
    Investor Presentation - November 2017 Non-GAAP Financial Data Reconciliations SemMaterials Mxico Segment (in thousands, unaudited) Three Months Ended Nine Months Ended September 30, June 30, September 30, 2017 2016 2017 2017…
  41. 3Q 2017 Earnings Call – Semgroup Corporation – slide 41
    Investor Presentation - November 2017 Non-GAAP Financial Data Reconciliations Corporate & Other Segment (in thousands, unaudited) Three Months Ended Nine Months Ended September 30, June 30, September 30, 2017 2016 2017 2017 2016…
  42. 3Q 2017 Earnings Call – Semgroup Corporation – slide 42
    Investor Presentation - November 2017 Reconciliation of Net Income to Adjusted EBITDA (in thousands, unaudited) 2016 2017 1Q 2Q 3Q 4Q 1Q 2Q 3Q Net income (loss) (4,893) 10,787 (4,635) 12,003 (10,277) 9,611 (19,103) Add: Interest…

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