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2018 MLPA Conference Orlando – Plains All American Pipeline, L.P.

Plains All American Pipeline, L.P. · May 23, 2018 · 22 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. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 1
    2018 MLPA Conference Orlando, FL May 23-24, 2018 www.plainsallamerican.com NYSE: PAA & PAGP 1
  2. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 2
    Discussion Outline Overview of Plains All American Current Industry Dynamics & Permian Update PAA Positioning and Capital Projects Update Closing Thoughts & Key Takeaways www.plainsallamerican.com NYSE: PAA & PAGP 3
  3. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 3
    Plains Organization Structure (Simplified) PAA GP Holdings, LLC Financial structure provides Unified Board (PAGP GP) flexibility & optionality PAA MLP security, owns 100% of assets and operations Public Investors (NYSE: PAGP)…
  4. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 4
    Over Past 20+ Years, PAA Has Developed One of the Largest and Most Integrated Midstream Systems in North America PAAs Crude Oil Value Chain Legend Plains Current Profile Volumes Handled(1): 5 mmb/d Transportation volumes 1.3…
  5. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 5
    Current Industry Dynamics and Permian Update www.plainsallamerican.com NYSE: PAA & PAGP 6
  6. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 6
    30+ Year Trend of Declining US Oil Production / Growing Foreign Imports, Turned on its Head by U.S. Shale Last 5 years big change for U.S. crude oil industry US crude imports substantially reduced, displaced by significant domestic…
  7. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 7
    Today: Transitioning Out of Downcycle Constructive Fundamentals Drive Positive Outlook for Industry & PAA Global Inventories Declining past 12 months, significant acceleration of inventory draws Visibility to Geopolitical Factors…
  8. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 8
    U.S. is Worlds 1 Liquid Hydrocarbon Producer Permian Basin: Largest U.S producing region 2017 Avg. World Liquids Production: 98 mmb/d U.S. & Canada = 20 mmb/d Permian Basin would rank 8 liquids producer as a standalone country Top 10…
  9. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 9
    Positive Permian Fundamentals Reinforce PAAs Outlook for Ramp L48 Hz Rig Activity Continued Fee-based Growth Onshore Rig Count Increasing, Permian Leading Permian DUCs Building HZ Rigs DUCs 800 3,500 3,086 Total DUCs 2,975 3,000…
  10. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 10
    Crude Oil Production Growth Will Impact Flows & Will Require Export, Particularly for Light Crudes --Excerpt from prior PAA presentations-- Cushing YE 2021 crude growth impact (illustrative) Permian Incremental Volumes…
  11. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 11
    PAAs Permian System: Unmatched Capacity & Interconnectivity Providing Flow Assurance & Access To Multiple Markets Permian Basin Assets / Activities(1) Cushing Hub Cushing to Transportation Volumes 3,200 mb/d Broome Lease Gathering…
  12. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 12
    PAA Positioning & Capital Projects Update www.plainsallamerican.com NYSE: PAA & PAGP 13
  13. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 13
    Executing Capital Program Permian represents 80% of PAAs 2018/2019 Capital Program 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 span…
  14. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 14
    Executing Permian Capital Projects Permian Basin CUSHING Long-Haul Takeaway Terminalling Sunrise I & II (+500mb/d Midland to & Storage CC & WF; +120 mb/d to Cushing) Expansions MIDLAND Cactus II (+670 mb/d to Corpus Christi)…
  15. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 15
    New Projects Underpinned by Recent MVCs Provide Incremental Capacity & Revenue Optimization Opportunities Capacity View (Late 2017) Long-haul pipes & certain intra-basin lines are the near-term constraint Existing system positions…
  16. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 16
    New Projects Underpinned by Recent MVCs Provide Incremental Capacity & Revenue Optimization Opportunities Capacity View (Late 2019*) Expanding long-haul pipes: debottlenecks entire system & adds significant capability Adds 800mb/d…
  17. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 17
    PAA Has Transitioned Through the Cycle Integrated Model Drives Continued Fee-Based Growth 1. Captured S&L margins 2. Provided visibility for 3. Operating leverage & from infrastructure growth CAPEX / increased additional fee-based…
  18. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 18
    Positioning For Long-term Growth Executing deleveraging plan Downturn has challenged PAAs credit metrics, driven by: 14 billion of CAPEX (primarily focused in Permian) Increased competition and delayed fee-based EBITDA growth With…
  19. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 19
    Continued Growth is Key, but Preserving Base is Crucial Complementing growth through system optimization Key focus areas to preserve the base business & drive continued growth: System optimization Operational reliability Cost…
  20. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 20
    Closing Thoughts & Key Takeaways www.plainsallamerican.com NYSE: PAA & PAGP 21
  21. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 21
    PAA On Track to Executing 2018 Goals PAAs 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…
  22. 2018 MLPA Conference Orlando – Plains All American Pipeline, L.P. – slide 22
    Suggested Takeaways from Today PAA executing operating and financial initiatives; Positioned for growth Robust global demand growth (demand for U.S. crude) Solid Industry Permian Basin key U.S. supply engine Fundamentals Midstream…

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