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Jefferies Energy Conference – Plains All American Pipeline, L.P.

Plains All American Pipeline, L.P. · Nov 28, 2017 · 23 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. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 1
    Jefferies Energy Conference November 28, 2017 www.plainsallamerican.com NYSE: PAA & PAGP 1
  2. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 2
    Presentation Outline Brief Overview of Plains Crude Oil Market Observations PAAs Asset Base & Positioning Key Takeaways www.plainsallamerican.com NYSE: PAA & PAGP 3
  3. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 3
    PAA Has One of the Largest and Most Integrated Crude Oil Pipeline & Terminal Systems in North America PAAs Crude Oil Value Chain Legend Plains Current Profile (1) Volumes Handled: 5 mmb/d Transportation volumes 1.1 mmb/d Supply &…
  4. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 4
    PAA Capabilities & Focus Areas Fundamental analysis and commercial intelligence supports strategic planning and identification of new opportunities System integration & optimization capabilities Large regional presence in key…
  5. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 5
    Crude Oil Market Observations www.plainsallamerican.com NYSE: PAA & PAGP 6
  6. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 6
    U.S. Among Worlds Top Liquids Producers (1) 10 Countries Produce Nearly 70% of World Liquids Supply 70% of World Liquids Supply 2017E Avg. World Liquids Production: 98 mmb/d US & Canada = 20 mmb/d Permian Basin = Largest US…
  7. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 7
    Permian is the Leading Crude Growth Basin Potential 5 Yr. Outlook Total U.S. & Canada Oil Production to Grow 3.9 mmb/d, Permian is 50% of Total --Ring size illustrates magnitude Permian Basin Crude Oil Production (exc. NGL) of…
  8. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 8
    Quality Matters: Increasing Condensate Volumes Will Require Segregation Infrastructure Permian Condensate Growth Delaware Basin mb/d mb/d 1,100 1,000 900 800 Midland Basin 700 600 1,000 Condensate: 500 400 mb/d 45- 52+…
  9. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 9
    Crude Oil Production Growth Will Impact Flows & Will Require Export, Particularly for Light Crudes Cushing YE 2021 crude growth impact (illustrative) Permian Incremental Volumes to USGC (Q4'16 vs. 2021) Permian +1,700 to…
  10. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 10
    PAAs Asset Base & Positioning www.plainsallamerican.com NYSE: PAA & PAGP 11
  11. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 11
    Completing a Multi-Year Capital Program, Positioning PAA for Further Fee-Based Growth PAAs Crude Oil Value Chain Legend Fort Sask Projects Include: Supply-push pipelines DJ Basin Permian-centric (e.g. Cactus, BridgeTex)…
  12. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 12
    Permian Growth Drives Demand for New Takeaway Capacity Permian is PAAs largest asset concentration and area of most significant operating leverage Permian Production vs. Operable Pipeline Takeaway Capacity mb/d 5,000 PAA Projects*:…
  13. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 13
    PAAs Permian System: Unmatched Capacity & Interconnectivity Providing Flow Assurance & Access To Multiple Markets Permian Basin Assets / Activities Cushing Hub Transportation Volumes 2,700 mb/d Cushing to Broome Lease Gathering…
  14. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 14
    Permian Investments Extend Reach, Market Access & Further Optimize PAAs Existing Permian Basin System Sunrise Extension ACC Acquisition BridgeTex Expansion Delaware Basin Expansion Wink Wolfbone Ranch Advantage JV…
  15. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 15
    Significant Capacity Exists & Phased Projects Allow Further Optimization Capabilities Available Capacity (late 2017) 100 mb/d 0 100 mb/d Substantially Full PAAs integrated system enables: Producer access to multiple markets…
  16. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 16
    Significant Capacity Exists & Phased Projects Allow Further Optimization Capabilities Available Capacity (late 2019) (after current/potential PAA expansion projects) 100 mb/d 0 100 mb/d Substantially Full PAAs integrated system…
  17. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 17
    PAAs Permian Outlook is Positive Expect Permian oil production to grow 70% over next five years YE 2022 --Permian Basin Oil Production Growth Scenario Illustration-- 4,800 mb/d For illustration, black line assumes 55/bbl & PAA…
  18. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 18
    Permian DUC Inventory Supports Production Growth PAA Estimates 20-25% of Hz DUCs* Reside Within PAA Dedicated Acreage Permian production currently in-line with PAAs 2017 expectations Well performance continues to improve Rig count…
  19. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 19
    Industry Challenges & PAA Positioning Industry downturn and significant influx of capital & competition has challenged PAAs margin-based business and financial metrics Long-term view for crude oil sector and for PAA remains…
  20. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 20
    Executing on PAAs Deleveraging Plan (Plan announced August 25th 2017) On Track Complete 1. Distribution Reset Declared annualized distribution of 1.20 / Unit Results in 1.1 billion in retained cash flow over 6 quarters Distribution…
  21. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 21
    Completion of PAAs Capital Program, Permian Production Growth & Resulting Cash Flow Ramp Drives Visible Fee-based Growth Permian Drives Fee- Based Operating Leverage(1) ( billions) --PAA Expansion Capital-- 2.5 Response to…
  22. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 22
    Key Takeaways www.plainsallamerican.com NYSE: PAA & PAGP 23
  23. Jefferies Energy Conference – Plains All American Pipeline, L.P. – slide 23
    Key Takeaways Long-term view for crude oil sector is strong World needs US production; Permian Basin will be key supply Infrastructure is critical to domestic & international value chain PAAs system is well positioned to serve…

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