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1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp

Enlink Midstream Partners Lp · May 1, 2018 · 34 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 – Enlink Midstream Partners Lp – slide 1
    FIRST QUARTER 2018 OPERATIONS REPORT May 1, 2018
  2. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 2
    ENLINK MIDSTREAM: 1Q 2018 HIGHLIGHTS DELIVERING ON EXPECTATIONS STRONG FIRST QUARTER RESULTS Delivered Oklahoma segment profit growth of 10% sequentially -- Built on 4Q17 momentum and performance POSITIVE OUTLOOK IN LINE WITH…
  3. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 3
    RIGHT PLACES EXECUTION RIGHT EXCELLENCE PARTNERS RIGHT PLAN DELIVERING ON EXPECTATIONS: First Quarter 2018
  4. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 4
    ENLK: BUSINESS EXECUTION DRIVES RESULTS STRONG FIRST QUARTER AND POSITIVE OUTLOOK (MM unless otherwise noted) 1Q18 Results 2018 ENLK Guidance Reaffirmed Net Income 65.1 255 315 Adjusted EBITDA 243.7 950 1,020 % Fee-based Gross…
  5. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 5
    ENLC: FURTHER GROWTH IN DISTRIBUTION & COVERAGE GROWTH IN OKLAHOMA CONTINUES TO DRIVE RESULTS (MM unless otherwise noted) 1Q18 Results 2018 ENLC Guidance Reaffirmed Net Income 57.1 233 291 Cash Available for Distribution (CAD) 56.6…
  6. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 6
    1Q18: RIGHT PLAN IN ACTION SYSTEM GROWTH DRIVEN BY OUR STRATEGIES 2 MIDLAND BASIN 1 OKLAHOMA Increase asset utilization Maximize strategic position 12% GROWTH 65% GROWTH IN GAS G&P VOLUME QOQ1 IN GAS PROCESSING VOLUMES QOQ1,2 300%…
  7. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 7
    2018 GROWTH CAPITAL EXPENDITURES (GCE) CAPITAL SPEND REMAINS FOCUSED ON GROWTH AREAS 2018 GCE OUTLOOK1 (MM) 1Q18 GCE (MM) 700 860 Updated for Redbud, 175 jointly funded ENLK / ENLC project 150 138 630 - 770 25 12 70 90 580 -…
  8. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 8
    PROJECT-LED EXPANSION ACROSS CORE AREAS DIVERSIFIED PORTFOLIO OF ATTRACTIVE PROJECTS UNDER DEVELOPMENT PERMIAN BASIN1 OKLAHOMA Gas G&P Gas G&P DELAWARE GAS increasing G&P system volumes THUNDERBIRD 200 MMcf/d gas processing facility…
  9. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 9
    CONSISTENT E&P ACTIVITY ON OUR FOOTPRINT DRILLING RIG ACTIVITY SUBSTANTIATES OUR GROWTH BASIN STRATEGY U.S. RIG COUNT1 RIGS IN GROWTH BASINS1 RIGS ON OUR SYSTEMS1 32% 19% RIGHT RIGHT PLACES PARTNERS 1,021 857 25% 29% 586 467…
  10. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 10
    12-MONTH RIG TRENDS SIGNIFY VOLUME GROWTH AVERAGE DRILLING RIG TRENDS DEMONSTRATE STRONG BASIN ACTIVITY RIGS ON OUR SYSTEMS1 GROWTH BASIN VOLUME GROWTH On average during the past 12 months, 58 drilling rigs With 58 average active rigs…
  11. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 11
    RIGHT PLACES EXECUTION RIGHT EXCELLENCE PARTNERS RIGHT PLAN RIGHT PLAN: FOCUS ON CORE ASSETS
  12. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 12
    OKLAHOMA: SIZE, SCALE, & DIVERSIFICATION COMPELLING STACK DEVELOPMENT EVIDENCES RIGHT PLACES, RIGHT PARTNERS RIGHT PLAN: MAXIMIZE STRATEGIC POSITION G&P: A DEMONSTRATED CORE COMPETENCY RIGHT 1. GAS - Expect to increase our processing…
  13. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 13
    EXPANDING OUR OKLAHOMA CRUDE PLATFORM ANNOUNCING REDBUD CRUDE GATHERING SYSTEM WITH EXISTING G&P PRODUCER RIGHT PLAN: MAXIMIZE STRATEGIC POSITION LEADING CRUDE GATHERING PLATFORM 8 EnLink builds a leading STACK crude gathering…
  14. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 14
    STACK DEVELOPMENT UPDATE: DEVON ENERGY ENLINK CONNECTS TO OPERATIONAL MOMENTUM & SERVICES SIGNIFICANT GROWTH 1Q18 ENLINK GROWTH DRIVERS Devon's 24-well Showboat development achieved 1st production in April 2018 and is currently 40 days…
  15. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 15
    MIDLAND BASIN: FAVORABLE POSITION QUALITY PRODUCER DEDICATIONS DRIVE GAS & CRUDE VOLUME RAMP RIGHT PLAN: INCREASE ASSET UTILIZATION EXECUTING A 3-PRONGED COMMODITY STRATEGY GAS & CRUDE GATHERING IN THE CORE 1. GAS: Ongoing…
  16. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 16
    DELAWARE BASIN: EXPANDING OUR G&P PLATFORM STRONG VOLUME MOMENTUM EXITING 1Q18 RIGHT PLAN: ACHIEVE SCALE G&P: A DEMONSTRATED CORE COMPETENCY 1. Strong exit volumes at quarter-end 2. Volume ramp expectations continue to support Lobo…
  17. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 17
    GULF COAST NGLS: CAPTURING THE VALUE CHAIN LINKING OKLAHOMA & PERMIAN NGL VOLUMES TO GULF COAST DEMAND RIGHT PLAN: DRIVE GROWTH IN GULF COAST NGL PLATFORM EXPECT TO AVERAGE FULL CAPACITY IN 2018 ACCESS TO KEY DEMAND MARKETS 1. EnLink…
  18. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 18
    LOUISIANA GAS: ROBUST DEMAND GROWTH FORECAST OPPORTUNITY TO SUPPLY MULTIPLE, KEY, DEMAND DRIVEN MARKET OUTLETS RIGHT PLAN: CAPTURE SIGNIFICANT INCREMENTAL GAS OPPORTUNITIES LONG-TERM POSITIVE OUTLOOK RIGHT PLACES 1. 1Q18 average…
  19. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 19
    LOUISIANA: TRANSFORMING EXISTING ASSETS SEEKING HIGHEST VALUE UTILIZATION FOR EXISTING PLATFORM RIGHT PLAN: REPURPOSE REDUNDANT PIPELINE INFRASTRUCTURE UNIQUE OPPORTUNITY to ADD VALUE & DIVERSIFY service offerings via REPURPOSING…
  20. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 20
    BARNETT SHALE: REDEVELOPMENT PROGRESSES REINVIGORATED ACTIVITY & NEW PARTNERS SUPPORT ENLINK VOLUMES RIGHT PLAN: PROACTIVE PARTICIPATION IN REDEVELOPMENT AVENUES TO STABILIZING VOLUME DECLINE MULTIPLE ACTIVE CUSTOMERS Long-term basin…
  21. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 21
    RIGHT PLACES EXECUTION RIGHT EXCELLENCE PARTNERS RIGHT PLAN APPENDIX
  22. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 22
    SUSTAINABILITY AND GROWTH DRIVERS CORE ASSET INTEGRATION ACROSS PRODUCTS, BASINS & SERVICES RIGHT PLACES RIGHT PLAN Maintain desirable position in key supply basins and critical Continue developing a suite of integrated midstream…
  23. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 23
    QUARTERLY VOLUMES & SEGMENT PROFIT Three Months Ended Mar. 31, Jun. 30, Sep. 30, Dec. 31, Mar. 31, In millions unless otherwise noted 2017 2017 2017 2017 2018 Texas Segment Profit 101.4 105.6 107.6 106.3 104.4 Gross Operating…
  24. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 24
    QUARTERLY VOLUMES OKLAHOMA TEXAS GATHERING & TRANSMISSION PROCESSING GATHERING & TRANSMISSION PROCESSING (1,000 MMBtu/d) (1,000 MMBtu/d) (1,000 MMBtu/d) (1,000 MMBtu/d) Permian North TX Permian North TX 2,274 2,272 2,252 2,254…
  25. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 25
    SEGMENT PROFIT (IN MM) OKLAHOMA TEXAS Permian North TX 101.4 105.6 107.6 106.3 104.4 95.4 86.0 79.1 68.8 88.2 90.9 89.8 89.8 88.7 53.4 13.2 14.7 17.8 16.5 15.7 1Q17 2Q17 3Q17 4Q17 1Q18 1Q17 2Q17 3Q17 4Q17 1Q18 LOUISIANA…
  26. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 26
    KEY FINANCIAL METRIC SUMMARY In millions unless otherwise noted 1Q17 2Q17 3Q17 4Q17 1Q18 EnLink Midstream Partners, LP (ENLK) Net Income Attributable to ENLK 18.1 29.6 25.5 75.7 60.1 Net Cash Provided by Operating Activities 174.2…
  27. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 27
    ENLINK ORGANIZATIONAL CHART1 Devon Energy Corp. Public NYSE: DVN Unitholders (BBB+/BBB/Ba1) TPG Capital & 64% 36% Goldman Sachs2 Series B Preferred Equity Owners EnLink Midstream, LLC General Partner 14% LP NYSE: ENLC ENLC…
  28. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 28
    RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO ADJUSTED EBITDA AND DISTRIBUTABLE CASH FLOW OF ENLK All amounts in millions Three Months Ended 3/31/2017 6/30/2017 9/30/2017 12/31/2017 3/31/2018 Net cash provided by…
  29. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 29
    RECONCILIATION OF NET INCOME OF ENLC TO ENLC CASH AVAILABLE FOR DISTRIBUTION Three Months Ended All amounts in millions 3/31/2017 6/30/2017 9/30/2017 12/31/2017 3/31/2018 Net income of ENLC 9.3 27.1 24.1 259.5 57.1 Less: Net income…
  30. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 30
    RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED EBITDA OF ENLK Three Months Ended All amounts in millions 3/31/2017 6/30/2017 9/30/2017 12/31/2017 3/31/2018 Net income 13.3 32.7 28.7 80.1 65.1 Interest expense, net of interest…
  31. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 31
    RECONCILIATION OF ENLKS OPERATING INCOME (LOSS) TO GROSS OPERATING MARGIN OF ENLK Crude and Q1 2018 All amounts in millions Texas Louisiana Oklahoma Condensate Corporate Totals Operating income 106.6 General and administrative…
  32. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 32
    RECONCILIATION OF ENLKS OPERATING INCOME (LOSS) TO GROSS OPERATING MARGIN OF ENLK (CONT.) All amounts in millions Crude and Q2 2017 Texas Louisiana Oklahoma Condensate Corporate Totals Operating income 70.4 General and…
  33. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 33
    ENLK FORWARD-LOOKING RECONCILIATION FORECASTED ENLK NET INCOME TO ADJUSTED EBITDA TO DISTRIBUTABLE CASH FLOW1 2018 Outlook ( millions) Low Midpoint High Net income (2) 255 285 315 Interest expense, net of interest income 175 179 183…
  34. 1Q 2018 Earnings Presentation – Enlink Midstream Partners Lp – slide 34
    ENLC FORWARD-LOOKING RECONCILIATION FORECASTED ENLC NET INCOME TO CASH AVAILABLE FOR DISTRIBUTION1 2018 Outlook (MM) Low Midpoint High Net income of ENLC (2) 233 262 291 Less: Net income attributable to ENLK (3) (225) (250) (275) Net…

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