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Morgan Stanley Midstream Energy Conference – Energy Transfer

Energy Transfer · Feb 28, 2018 · 37 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. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 1
    ENERGY TRANSFER Morgan Stanley Midstream Energy Conference February 28th, 2018
  2. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 2
    KEY INVESTMENT HIGHLIGHTS Well Positioned Assets Growth From Organic Solid Financials Investments Fully integrated platform Completing multi-year Stable cash flow profile spanning entire midstream capex program with minimal major…
  3. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 3
    RECENT ETP HIGHLIGHTS Adjusted EBITDA (consolidated): 1.94 billion Q4 2017 ETP Distributable Cash Flow attributable to the partners of ETP: 1.20 billion Earnings Distribution per ETP common unit paid February 14, 2018: 0.565 (2.26 per…
  4. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 4
    WELL POSITIONED ASSETS
  5. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 5
    SIGNIFICANT GEOGRAPHIC FOOTPRINT ACROSS THE FAMILY Recently In-service & Asset Overview Announced Growth Projects Marcus Hook Lake Charles LNG Bayou Bridge ETP Assets Eagle Point Dakota Access Pipeline Rover Pipeline Legacy…
  6. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 6
    A TRULY UNIQUE FRANCHISE Natural NGLs Crude Gas Oil Gather 11.5 million Fractionate One of the largest Transport 15 Transport 3.8 More than 7.9 billion mmbtu/d of gas & 455,000 bbls/d of planned LNG million mmbtu/d of…
  7. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 7
    FULLY INTEGRATED PLATFORM SPANNING THE ENTIRE MIDSTREAM VALUE CHAIN Involvement in Major Midstream Themes Across the Best Basins and Logistics Hubs Franchise Strengths Opportunities Access to multiple shale plays, storage…
  8. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 8
    FULLY INTEGRATED SERVICES BY REGION ETP Services By Region Midstream Natural Gas Liquids Crude Interstate Intrastate Bakken Marcellus/Utica MidCon/Panhandle North Texas Permian Basin Ark-La-Tex Eagle Ford/SE…
  9. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 9
    ETP ASSETS ALIGNED WITH MAJOR U.S. DRILLING REGIONS ETP Rig Count Vs. Total US Rig Count ETP Rig Count Vs. Lower 48 US Rig Count 1100 1,056 1000 Rigs: 50 900 800 731 700 600 500 Rigs: 20 400 300 200 Rigs: 91 100 0…
  10. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 10
    FULLY INTEGRATED MIDSTREAM/LIQUIDS PLATFORM ACROSS NORTH AMERICA The ability to integrate an end-to-end liquids solution will better serve customers and alleviate bottlenecks currently faced by producers Marcus Hook: The future…
  11. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 11
    GROWTH FROM ORGANIC INVESTMENTS
  12. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 12
    ORGANIC GROWTH ENHANCES THE COMBINED ENTITYS STRONG FOOTHOLD IN THE MOST PROLIFIC PRODUCING BASINS 2017 Bakken Crude Pipeline (1) 2013 Mariner West 2014 Mariner East 1 - Propane Active in 9 of the top 10 basins by active 2015…
  13. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 13
    ETP PROJECTS PROVIDE VISIBILITY FOR FUTURE EBITDA GROWTH Alamo Plant Ohio River Orla Plant LS Express Ramping Up Frac IV Panther Plant Trans Pecos Pipeline Comanche Trail Pipeline Bakken Pipeline Arrowhead Plant Permian…
  14. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 14
    FORESEE SIGNIFICANT EBITDA GROWTH IN 2017 AND 2018 FROM COMPLETION OF PROJECT BACKLOG Project Description Project Timing In Service Panther Processing Plant 200 MMcf/d cryogenic processing plant in Midland Basin Jan. 2017…
  15. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 15
    CRUDE OIL SEGMENT-BAKKEN PIPELINE PROJECT Project Details Dakota Access Pipeline connects Bakken production to Patoka Hub, IL, with interconnection to Energy Transfer Crude Oil Pipeline (Trunkline 1,172 miles of new conversion) to…
  16. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 16
    CRUDE OIL SEGMENT-PERMIAN EXPRESS 3 PROJECT Permian Express Project Details Expected to provide Midland & Delaware Basin producers new crude oil takeaway capacity (utilizing existing pipelines) from this rapidly growing area to…
  17. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 17
    CRUDE OIL SEGMENT-BAYOU BRIDGE PIPELINE PROJECT Project Details Bayou Bridge Pipeline Map Joint venture between Phillips 66 Partners (40%) and ETP (60%, operator) 30 Nederland to Lake Charles segment went into service in April…
  18. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 18
    NGL& REFINED PROJECTS SEGMENT: MARINER EAST SYSTEM A comprehensive Marcellus Shale solution Will transport Natural Gas Liquids from OH / Western PA to the Marcus Hook Industrial Complex on the East Coast Supported by long-term,…
  19. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 19
    MIDSTREAM SEGMENT: PERMIAN BASIN INFRASTRUCTURE BUILDOUT Continued producer demand and strong growth outlook in the Permian continues to necessitate infrastructure buildout Brought 600 mmcf/d of processing capacity online in 2016 and…
  20. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 20
    MIDSTREAM SEGMENT: REVOLUTION SYSTEM PROJECT Project Details Revolution Project Map System is located in Pennsylvanias Marcellus/Upper Devonian Shale rich-gas area Rich-gas, complete solution system Currently 20 miles of 16…
  21. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 21
    INTERSTATE SEGMENT: MARCELLUS/UTICA ROVER PIPELINE Project Details Rover Project Map Sourcing natural gas from the Marcellus and Utica shales Connectivity to numerous markets in the U.S. and Canada Midwest: Panhandle Eastern and…
  22. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 22
    SOLID FINANCIALS
  23. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 23
    PRIMARILY FEE-BASED BUSINESS MIX Stability of Cash Flows Q4 2017 Segment Margin by Segment Midstream: Approximately 80% fee-based margins from All Other minimum volume commitment, acreage dedication and 4% throughput-based…
  24. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 24
    STRONG FOCUS ON THE BALANCE SHEET AND LIQUIDITY POSITION Focus on liquidity and the balance sheet Improving leverage metrics Liquidity update: On December 1, 2017, the Partnership entered into a new 4 Further deleveraging billion…
  25. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 25
    ETE/ETP KEY TAKEAWAYS Our diversified business model, together with the geographical diversity of our assets, continues Business to allow our businesses to demonstrate resiliency. The underlying fundamentals of our business…
  26. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 26
    APPENDIX
  27. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 27
    CRUDE OIL SEGMENT Crude Oil Pipelines Crude Oil Acquisition & Marketing 9,360 miles of crude oil trunk and gathering lines located in the Southwest and Crude truck fleet of approximately 370 trucks Midwest United States Purchase…
  28. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 28
    CRUDE OIL SEGMENT - PERMIAN EXPRESS PARTNERS Permian Express Partners Joint Venture Details Strategic joint venture with ExxonMobil (ETP owns 88% and is the operator) Combines key crude oil pipeline network of both companies and…
  29. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 29
    NGL & REFINED PRODUCTS SEGMENT NGL Storage Fractionation NGL Pipeline Transportation TET Mont Belvieu Storage Hub 50 million 4 Mont Belvieu fractionators (420+ Mbpd) 4,300 miles of NGL Pipelines throughout Texas and barrels NGL…
  30. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 30
    MIDSTREAM ASSETS Midstream Asset Map Midstream Highlights Volume growth in key regions: Q4 2017 gathered volumes averaged 11.5 million mmbtu/d, and NGLs produced were 502,000 bbls/d, both up over Q4 2016 Utica Ohio River volumes…
  31. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 31
    INTERSTATE PIPELINE ASSETS Interstate Asset Map Interstate Highlights Our interstate pipelines provide: Stability Approximately 95% of revenue is derived from fixed reservation fees Diversity Rover Access to multiple shale…
  32. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 32
    INTRASTATE PIPELINE ASSETS Intrastate Asset Map Intrastate Highlights Continue to expect volumes to Mexico to grow, particularly with the startup of Trans-Pecos and Comanche Trail in the Q1 2017, which will result in increased…
  33. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 33
    INTRASTATE SEGMENT: MEXICO (CFE) Waha Header System 6 Bcf/d Header System Will connect to: Trans-Pecos & Comanche Trail Pipelines ETPs vast interstate and Comanche Trail Pipeline intrastate pipeline network Multiple 3rd party…
  34. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 34
    EXISTING IDR SUBSIDIES (in thousands) Total IDR Reduction March 31, 2018 42,000 March 31, 2018 42,000 March 31, 2018 32,500 March 31, 2018 32,500 FY 2018 153,000 FY 2019 128,000 35
  35. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 35
    POST-MERGER SEGMENTS ETP Segments Segments SXL Segments Pre-Merger Post-Merger Pre-Merger Intrastate Transportation Intrastate Transportation and Storage and Storage Interstate Transportation Interstate Transportation and…
  36. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 36
    NON-GAAP FINANCIAL MEASURES Reconciliation of Non-GAAP Measures Pro Forma for ETP/SXL Merger Full Year 2016 2017 2015 Q1 Q2 Q3 Q4 YTD Q1 Q2 Q3 Q4 YTD Net income (loss) 1,489 360 465 94 (336) 583 393 296 715 1,097 2,501 Interest…
  37. Morgan Stanley Midstream Energy Conference – Energy Transfer – slide 37
    NON-GAAP FINANCIAL MEASURES In the following analysis of segment operating results, a measure of segment margin is reported for segments with sales revenues. Segment Margin is a non -GAAP financial measure and is presented herein to…

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