First-Quarter 2018 Earnings Conference Call Presentation April 30, 2018
Opening Comments MPC announced its plan to combine with Andeavor creating a leading U.S. energy company At close, MPC will own GPs of MPLX and Andeavor Logistics, and the majority of LP units of both partnerships MPC will evaluate…
First Quarter Highlights Reported record first-quarter adjusted EBITDA of 760 million and distributable cash flow of 619 million Declared 21st consecutive quarterly distribution increase to 0.6175 per common unit for the…
Logistics & Storage Segment Completed dropdown of refining logistics assets and fuels distribution services from MPC on February 1 Headquarters Expanded marine fleet by 2 boats and MPLX Pipelines: Owned & Operated 13 barges;…
Gathering & Processing Segment Marcellus & Utica Operations Processed Volumes(a) Gathered volumes averaged 2.7 Bcf/d, 46% increase over first-quarter 2017 Available Average Utilization Area Capacity Volume Processed volumes…
Gathering & Processing Segment Marcellus & Utica Fractionation Achieved 1Q 2018 fractionated Fractionated Volumes(a) volumes of 395 MBPD Available Average Utilization Area Capacity Volume Achieved 18% growth in quarterly (MBPD)(b)…
Gathering & Processing Segment Southwest Operations Gathered volumes averaged 1.5 Bcf/d, Processed Volumes(a) 10% increase over first-quarter 2017 Available Average Utilization Processed volumes averaged 1.3 Bcf/d, Area Capacity…
Adjusted EBITDA 1Q 2018 vs. 1Q 2017 Variance Analysis 1,000 800 42 760 169 24 12 600 G&P 43 323 MM 423 47 400 G&P 281 200 L&S 437 L&S 142 0 1Q 2017 Adjusted 1Q 2017 Drop 3Q 2017 Drop 1Q 2018 Drop Non-recurring 1Q18…
MPLX Capitalization, Leverage and Liquidity As of (MM except ratio data) 3/31/18 Cash and cash equivalents 2 Total assets 21,006 Total debt(a) 11,862 Redeemable preferred units 1,000 Total equity 6,978 Consolidated total…
Appendix 12
MPLX Organic Growth Capital Projects Gathering and Processing Segment Est. Completion Est. Completion Processing and Fractionation Shale Resource Capacity Gathering Date Date Sherwood 9 Processing Plant(b) Marcellus 200 MMcf/d…
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…
Reconciliation of Adjusted EBITDA and Distributable Cash from Net Income (MM) 1Q 2018 1Q 2017 (a)The Partnership makes a distinction between realized or unrealized gains Net income 423 187 and losses on derivatives. During the…
Reconciliation of Adjusted EBITDA and Distributable Cash from Net Cash Provided by Operating Activities (MM) 1Q 2018 1Q 2017 (a)The Partnership makes a distinction between realized or unrealized gains Net cash provided by operating…
Segment Operating Income Reconciliation to Income From Operations (MM) 1Q 2018 1Q 2017 L&S segment operating income attributable to MPLX 424 156 G&P segment operating income attributable to MPLX(a) 350 309 Segment portion…
Reconciliation of Segment Adjusted EBITDA to Net Income (MM) 1Q 2018 1Q 2017 (a)The Partnership makes a distinction between realized or unrealized gains L&S segment adjusted EBITDA attributable to MPLX LP 437 142 and losses on…
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