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4Q 2017 Earnings Conference Call – MPLX Lp

MPLX Lp · Feb 1, 2018 · 19 slides

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Slides

  1. 4Q 2017 Earnings Conference Call – MPLX Lp – slide 1
    Fourth-Quarter 2017 Earnings Conference Call Presentation February 1, 2018
  2. 4Q 2017 Earnings Conference Call – MPLX Lp – slide 2
    Opening Comments Reported record fourth-quarter and full-year results in 2017 Announced robust organic growth plan for 2018 MPLX celebrated 5 year anniversary Announced closing of transactions completing planned strategic…
  3. 4Q 2017 Earnings Conference Call – MPLX Lp – slide 3
    Fourth-Quarter and Full-Year Highlights Reported record fourth-quarter adjusted EBITDA of 569 million and distributable cash flow of 445 million with strong coverage ratio of 1.24x Reported full-year adjusted EBITDA of 2 billion and…
  4. 4Q 2017 Earnings Conference Call – MPLX Lp – slide 4
    Logistics & Storage Segment Ozark and Wood River-to-Patoka pipeline expansion projects expected to complete in mid-2018 Headquarters Robinson butane cavern expected to be MPLX Pipelines: Owned & Operated placed in service in 2Q…
  5. 4Q 2017 Earnings Conference Call – MPLX Lp – slide 5
    Gathering & Processing Segment Marcellus & Utica Operations Processed Volumes(a) Achieved record 4Q 2017 volumes Available Average Gathered volumes of 2.7 Bcf/d Utilization Area Capacity Volume (%)(b) Processed volumes of 5.2 Bcf/d…
  6. 4Q 2017 Earnings Conference Call – MPLX Lp – slide 6
    Gathering & Processing Segment Marcellus & Utica Fractionation Commenced operations of second Fractionated Volumes(a) de-ethanization plant at Majorsville Available Average Utilization Area Capacity Volume Achieved record 4Q 2017…
  7. 4Q 2017 Earnings Conference Call – MPLX Lp – slide 7
    Gathering & Processing Segment Southwest Operations Achieved record 4Q 2017 volumes Processed Volumes(a) Gathered volumes of 1.5 Bcf/d Available Average Utilization Area Capacity Volume Processed volumes of 1.4 Bcf/d (MMcf/d)…
  8. 4Q 2017 Earnings Conference Call – MPLX Lp – slide 8
    2018 Capital Outlook Forecast organic growth capital of 2.2 B* 5% G&P Segment Utica Eleven additional plants expected 20% to complete by end of 2018 Southwest 1.5 Bcf/d processing capacity 60% 100 MBPD fractionation capacity…
  9. 4Q 2017 Earnings Conference Call – MPLX Lp – slide 9
    Fourth-Quarter and Full-Year 2017 Financial Highlights Adjusted EBITDA Distributable Cash Flow 2,500 2,000 2,004 1,628 2,000 1,500 1,419 1,140 1,500 MM MM 1,000 1,000 569 445 500 391 500 318 0 0 4Q Full-Year 4Q…
  10. 4Q 2017 Earnings Conference Call – MPLX Lp – slide 10
    Adjusted EBITDA 4Q 2017 vs. 4Q 2016 Variance Analysis 700 600 54 569 25 35 500 64 391 MM 400 300 200 100 0 4Q 2016 Adjusted 1Q 2017 Drop 3Q 2017 Drop Logistics & Gathering & 4Q 2017 Adjusted EBITDA Attributable…
  11. 4Q 2017 Earnings Conference Call – MPLX Lp – slide 11
    Adjusted EBITDA 2017 vs. 2016 Variance Analysis 2,250 210 2,004 2,000 66 48 1,750 226 35 1,500 1,419 1,250 MM 1,000 750 500 250 0 2016 Adjusted 1Q 2016 Drop 1Q 2017 Drop 3Q 2017 Drop Logistics & Gathering & 2017…
  12. 4Q 2017 Earnings Conference Call – MPLX Lp – slide 12
    MPLX Capitalization, Leverage and Liquidity As of (MM except ratio data) 12/31/17 Cash and cash equivalents 5 Total assets 19,500 Total debt(a) 7,332 Redeemable preferred units 1,000 Total equity 9,973 Consolidated total…
  13. 4Q 2017 Earnings Conference Call – MPLX Lp – slide 13
    Appendix 14
  14. 4Q 2017 Earnings Conference Call – MPLX Lp – slide 14
    MPLX Organic Growth Capital Projects Gathering and Processing Segment Est. Completion Est. Completion Processing and Fractionation Shale Resource Capacity Gathering Date Date Sherwood IX Processing Plant(b) Marcellus 200 MMcf/d…
  15. 4Q 2017 Earnings Conference Call – MPLX Lp – slide 15
    MPLX Organic Growth Capital Projects Logistics and Storage Segment Est. Completion Projects Description Date Increasing pipeline capacity to 360 MBPD; provides crude sourcing Ozark Pipeline Expansion Mid-2018 optionality to Midwest…
  16. 4Q 2017 Earnings Conference Call – MPLX Lp – slide 16
    Reconciliation of Adjusted EBITDA and Distributable Cash from Net Income (MM) 4Q 2017 4Q 2016 YTD 2017 YTD 2016 Net income 241 182 836 434 (a)The Partnership makes a distinction Depreciation and amortization 168 153 683 591 between…
  17. 4Q 2017 Earnings Conference Call – MPLX Lp – slide 17
    Reconciliation of Adjusted EBITDA and Distributable Cash from Net Cash Provided by Operating Activities (MM) 4Q 2017 4Q 2016 YTD 2017 YTD 2016 Net cash provided by operating activities 569 516 1,907 1,491 Changes in working capital items…
  18. 4Q 2017 Earnings Conference Call – MPLX Lp – slide 18
    Segment Operating Income Reconciliation to Income From Operations (MM) 4Q 2017 4Q 2016 YTD 2017 YTD 2016 L&S segment operating income attributable to 205 118 782 453 MPLX G&P segment operating income attributable to 364 311 1,335…
  19. 4Q 2017 Earnings Conference Call – MPLX Lp – slide 19
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