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3Q 2018 Earnings Presentation – CNX Midstream Partners

CNX Midstream Partners · Oct 30, 2018 · 10 slides

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Slides

  1. 3Q 2018 Earnings Presentation – CNX Midstream Partners – slide 1
    Earnings Results Third Quarter 2018 October 30, 2018
  2. 3Q 2018 Earnings Presentation – CNX Midstream Partners – slide 2
    Q3 2018 Results Average net daily throughput of 1,314 Bbtu/d in Q3 2018; highest quarterly average since IPO 14th consecutive quarterly cash distribution increase at targeted 15% annual growth rate Lowest operating cost quarter on all…
  3. 3Q 2018 Earnings Presentation – CNX Midstream Partners – slide 3
    Guidance Update PREVIOUS (8/2/2018) UPDATE (10/30/2018) ( in millions) 2018E 2018E Throughput (Mmcfe/d) 1,150-1,240 1,150,1,240 EBITDA(1) 150-165 160-170 Driven primarily by improvements Distributable Cash Flow(1) 120-135 125-135 in…
  4. 3Q 2018 Earnings Presentation – CNX Midstream Partners – slide 4
    CNXM DevCo Overview and Organizational Structure DevCo I NYSE: CNX CPA 100% SWPA Central CNX Gathering LLC Shirley- 33.4% LP Interest Pennsboro 100% Throughput includes: CNX Midstream GP LLC The General Partner Wet and dry…
  5. 3Q 2018 Earnings Presentation – CNX Midstream Partners – slide 5
    Strong Inventory of Sponsor Driven Growth Opportunities Drop-Down Candidates Opportunity Highlights Growth Greenfield Marcellus and Utica dedication in DevCo III represents our most significant Opportunities Wadestown near-term…
  6. 3Q 2018 Earnings Presentation – CNX Midstream Partners – slide 6
    Appendix
  7. 3Q 2018 Earnings Presentation – CNX Midstream Partners – slide 7
    Non-GAAP Reconciliation EBITDA and Adjusted EBITDA We define EBITDA as net income (loss) before net interest expense, depreciation and amortization, and Adjusted EBITDA as EBITDA adjusted for non-cash items which should not be included…
  8. 3Q 2018 Earnings Presentation – CNX Midstream Partners – slide 8
    Non-GAAP Reconciliation ( in thousands) Three Months Ended Sept. 30, (unaudited) 2018 2017 Net Income 33,575 33,468 Depreciation expense 5,306 5,629 Interest expense 7,255 1,197 EBITDA 46,136 40,294 Non-cash unit-based…
  9. 3Q 2018 Earnings Presentation – CNX Midstream Partners – slide 9
    Non-GAAP Reconciliation ( in millions) Forecast 2018 (unaudited) Estimate Net Income 129 Depreciation expense 22 Interest expense 25 EBITDA 176 Non-cash unit-based compensation expense 2 Loss on asset sales 2 Adjusted EBITDA…
  10. 3Q 2018 Earnings Presentation – CNX Midstream Partners – slide 10
    Non-GAAP Reconciliation ( in thousands) Twelve Months Ended (unaudited) 9/30/2018 9/30/2017 6/30/2018 Net Income 135,164 128,438 135,057 Depreciation expense 22,322 22,793 22,645 Interest expense 18,064 4,053 12,006 EBITDA 175,550…

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