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1Q 2018 Earnings Presentation – Plains All American Pipeline, L.P.

Plains All American Pipeline, L.P. · May 8, 2018 · 18 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. 1Q 2018 Earnings Presentation – Plains All American Pipeline, L.P. – slide 1
    First-Quarter 2018 Earnings Package Houston, TX May 8, 2018 www.plainsallamerican.com NYSE: PAA & PAGP 1
  2. 1Q 2018 Earnings Presentation – Plains All American Pipeline, L.P. – slide 2
    Index Conference Call Transcript Conference Call Slides PAA / PAGP Earnings Release and Guidance PAA Non-GAAP Reconciliations 1 www.plainsallamerican.com NYSE: PAA & PAGP 2
  3. 1Q 2018 Earnings Presentation – Plains All American Pipeline, L.P. – slide 3
    First-Quarter 2018 Conference Call Houston, TX May 8, 2018 www.plainsallamerican.com NYSE: PAA & PAGP 1
  4. 1Q 2018 Earnings Presentation – Plains All American Pipeline, L.P. – slide 4
    Solid 1Q18 Results, Executing Strategic Plans 1Q18 Delivered 1Q18 financial and operating results Results slightly ahead of expectations Strategic Leverage Reduction on target with plans Initiatives Capital Program on track &…
  5. 1Q 2018 Earnings Presentation – Plains All American Pipeline, L.P. – slide 5
    PAA Reported Solid 1Q18 Fee-based Results 1Q18 Fee-based Segment Adj. EBITDA: 520mm slightly ahead of expectations 1Q18 vs. 1Q17 fee-based Segment Adj. EBITDA up 60mm, or 13% Transportation up 23% Permian volumes grew 750mb/d…
  6. 1Q 2018 Earnings Presentation – Plains All American Pipeline, L.P. – slide 6
    Positive Permian Fundamentals Reinforce PAAs Outlook for Ramp L48 Hz Rig Activity Continued Fee-based Growth L48 Onshore Oil Rig Count Increasing, Permian Leading Permian DUCs Building DUCs HZ Rigs 3,500 800 Total DUCs 3,044…
  7. 1Q 2018 Earnings Presentation – Plains All American Pipeline, L.P. – slide 7
    Executing Permian Capital Projects Permian represents 80% of PAAs 2018/2019 Capital Program Long-Haul Takeaway Sunrise I & II (+500mb/d Midland to CC & WF; +120 mb/d to Cushing) Terminalling & Storage Cactus II (+670 mb/d to…
  8. 1Q 2018 Earnings Presentation – Plains All American Pipeline, L.P. – slide 8
    Deleveraging Plan Remains On Track (announced August 2017) Combination of debt reduction & growth in fee-based Adjusted EBITDA PAA is committed to its financial strategy & targeted metrics PAA Debt & Leverage Ratios Reduced debt by…
  9. 1Q 2018 Earnings Presentation – Plains All American Pipeline, L.P. – slide 9
    On Track to Executing 2018 Goals 2018 Goals: Status 1. Run a safe, reliable, and responsible operation On Track 2. Meet or exceed 2018 operating and financial guidance On Track 3. Progress deleveraging plan for return to targeted…
  10. 1Q 2018 Earnings Presentation – Plains All American Pipeline, L.P. – slide 10
    Highlights of 1Q18 Earnings Conference Call Solid Progress in 1Q18 Results slightly ahead of guidance Deleveraging plan on track Capital program progressing as planned No change to total 2018/2019 capital program Working to…
  11. 1Q 2018 Earnings Presentation – Plains All American Pipeline, L.P. – slide 11
    Appendix www.plainsallamerican.com NYSE: PAA & PAGP 10
  12. 1Q 2018 Earnings Presentation – Plains All American Pipeline, L.P. – slide 12
    PAA Capitalization & Liquidity Capitalization (in billions) 6/30/2017 9/30/2017 12/31/2017 3/31/2018 Short-term Debt (Primarily Hedged Inventory) 1.1 0.9 0.7 0.8 Long-term Debt 10.0 10.5 9.2 9.1 Partners' Capital 10.5 10.3…
  13. 1Q 2018 Earnings Presentation – Plains All American Pipeline, L.P. – slide 13
    2018 Financial & Operating Guidance PAA Guidance May 8, 2018 (Press Release Excerpt) (in millions) 2016 Twelve Months Ended December 31, 2017 2018 (G) +/- 2018(G) Key Metrics Adj. EBITDA: +/-2.3 billion Segment Adjusted…
  14. 1Q 2018 Earnings Presentation – Plains All American Pipeline, L.P. – slide 14
    Executing Permian-Weighted Capital Program Project portfolio consistent with Feb, 2018 2018 CAPEX includes: ( billions) 1.6 PAA Expansion Capital Summary 1.4 1.4 Cactus II - investment expected to be shared in JV 1.4 structure, to…
  15. 1Q 2018 Earnings Presentation – Plains All American Pipeline, L.P. – slide 15
    PAA 1Q18 Fee-Based Segment Overview Segment Adj. EBITDA ( millions) Transportation(1) Facilities(2) 354 335 273 188 184 185 1Q17 4Q17 1Q18 1Q17 4Q17 1Q18 Volumes & Segment Adj. EBITDA / Barrel (Thousands of Barrels / Day)…
  16. 1Q 2018 Earnings Presentation – Plains All American Pipeline, L.P. – slide 16
    Condensed Consolidating Balance Sheet of Plains GP Holdings (PAGP) March 31, 2018 December 31, 2017 Consolidating Consolidating ( millions) Adjustments Adjustments PAA (1) PAGP PAA (1) PAGP ASSETS Current assets 3,962 3 3,965…
  17. 1Q 2018 Earnings Presentation – Plains All American Pipeline, L.P. – slide 17
    www.plainsallamerican.com NYSE: PAA & PAGP 16
  18. 1Q 2018 Earnings Presentation – Plains All American Pipeline, L.P. – slide 18
    First-Quarter 2018 PAA & PAGP Non-GAAP & Supplemental Reconciliations www.plainsallamerican.com NYSE: PAA & PAGP 1

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