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June 2018 Energy Credit Conference Presentation – Western Gas Partners Lp

Western Gas Partners Lp · Jun 7, 2018 · 11 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. June 2018 Energy Credit Conference Presentation – Western Gas Partners Lp – slide 1
    INVESTOR RELATIONS Jon VandenBrand Director 832.636.1007 N Y S E : W E S , W G P W W W . W E S T E R N G A S . C O M BANK OF AMERICA MERRILL LYNCH 2018 ENERGY CREDIT CONFERENCE June 7, 2018
  2. June 2018 Energy Credit Conference Presentation – Western Gas Partners Lp – slide 2
    WES Today Powder River Marcellus Greater DJ Basin Green River Basin Our Largest Asset Western Gas Portfolio1 Gathering Systems 20 Natural Gas Processing Plants, 51 Trains and Treating Facilities Delaware Basin Our…
  3. June 2018 Energy Credit Conference Presentation – Western Gas Partners Lp – slide 3
    Western Gas Structure Anadarko Petroleum Corp. Public NYSE: APC Unitholders Western Gas Equity Partners, LP 78.0%1 22.0%1 NYSE: WGP BBB- / Ba13 11+ Bn / BBB- WES Enterprise 29.7% LP 1.5% GP WES Senior Value2 Credit…
  4. June 2018 Energy Credit Conference Presentation – Western Gas Partners Lp – slide 4
    WES Outlook ROBUST CAPITAL PROGRAM STRONG EBITDA GROWTH 1,400 1,200 1,061 792 1 2017 2018E 2017 2018E CAPITAL EXPENDITURE GUIDANCE MIDPOINT (MM) ADJUSTED EBITDA GUIDANCE MIDPOINT (MM) EXPANDING COVERAGE RATIO STRONG…
  5. June 2018 Energy Credit Conference Presentation – Western Gas Partners Lp – slide 5
    DJ Basin: Supporting Continued Drilling Activity 1 FOCUS AREAS 4 Gas Gathering 1 System Buildout 2 Latham Gas Plant 2 (400 MMcf/d) Front Range & 3 Texas Express Pipeline Expansions 1 Residue Gas Pipeline 3 APC…
  6. June 2018 Energy Credit Conference Presentation – Western Gas Partners Lp – slide 6
    Delaware Basin: Infrastructure Development Alongside APC COMBINED WES AND APC MIDSTREAM INFRASTRUCTURE KEY PLANNED INFRASTRUCTURE ADDITIONS B GAS PROCESSING 1 1 Ramsey VI 4Q17 200 MMcf/d A 2 Mentone I 3Q18 C 200 MMcf/d 2 3…
  7. June 2018 Energy Credit Conference Presentation – Western Gas Partners Lp – slide 7
    Risk Mitigation Throughout the Portfolio Commodity Risk Volumetric Risk Counterparty Risk 4% 10% 24% 9% Gas Throughput2 Credit Rating3 Adj. Gross Margin1 Demand Charge Investment Grade Fee-Based & Fixed Price Cost of Service…
  8. June 2018 Energy Credit Conference Presentation – Western Gas Partners Lp – slide 8
    Key Credit Highlights Diversified, Large- Visible Organic & Cap MLP Inorganic Growth Focused Assets & Prudent Financial Development in Policies & Risk Best Basins Mitigation Supportive Blue-Chip Investment Grade E&P Sponsor…
  9. June 2018 Energy Credit Conference Presentation – Western Gas Partners Lp – slide 9
    APPENDIX w w w. w e s t e r n g a s . c o m N Y S E : W E S W E S T E R N G A S 10
  10. June 2018 Energy Credit Conference Presentation – Western Gas Partners Lp – slide 10
    WES Non-GAAP Reconciliation Adjusted EBITDA WES defines Adjusted EBITDA as net income (loss) attributable to Western Gas Partners, LP, plus distributions from equity investees, non-cash equity-based compensation expense, interest…
  11. June 2018 Energy Credit Conference Presentation – Western Gas Partners Lp – slide 11
    WES Non-GAAP Reconciliation Adjusted EBITDA WES defines Adjusted EBITDA as net income (loss) attributable to Western Gas Partners, LP, plus distributions from equity investees, non-cash equity-based compensation expense, interest…

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