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3Q 2018 Earnings Presentation – MPLX Lp

MPLX Lp · Nov 1, 2018 · 22 slides

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Slides

  1. 3Q 2018 Earnings Presentation – MPLX Lp – slide 1
    Third-Quarter 2018 Earnings November 1, 2018
  2. 3Q 2018 Earnings Presentation – MPLX Lp – slide 2
    Third-Quarter Highlights Reported adjusted EBITDA of 937 million and distributable cash flow of 766 million which provided 1.47x distribution coverage and resulted in 3.8x leverage Adjusted EBITDA increased 74% year-over-year, 23%…
  3. 3Q 2018 Earnings Presentation – MPLX Lp – slide 3
    Logistics & Storage Segment Reported 3Q adj. EBITDA of 547 million, which increased 24% year-over-year after adjusting for the impact of dropdowns Headquarters Pipeline throughputs averaged 3.39 MMBPD, MPLX Pipelines: Owned &…
  4. 3Q 2018 Earnings Presentation – MPLX Lp – slide 4
    L&S: Planned Long Haul Pipeline Investments PGC Pipeline Legend PGC Pipeline Crude pipeline running from Permian Basin to Whistler Pipeline Texas Gulf Coast region JV: MPLX, Energy Transfer, Magellan, and Delek 600-mile pipe…
  5. 3Q 2018 Earnings Presentation – MPLX Lp – slide 5
    L&S: Mt. Airy Export Terminal Strategically located on Mississippi River in close proximity to several refineries, including MPCs Garyville refinery 4 MMBBL of third-party leased storage capacity, capability to expand storage…
  6. 3Q 2018 Earnings Presentation – MPLX Lp – slide 6
    L&S: Swordfish Pipeline Proposed crude oil pipeline running from St. James to Clovelly in Louisiana Jointly developed: MPLX and Crimson Midstream Binding open season to assess shipper interest commenced on October, 17, 2018…
  7. 3Q 2018 Earnings Presentation – MPLX Lp – slide 7
    Gathering & Processing Segment Reported 3Q adj. EBITDA of 390 million, which increased 22% year-over-year Delivered record gathered, processed, and fractionated volumes Brought online 6 processing plants (1.1 Bcf/d of processing…
  8. 3Q 2018 Earnings Presentation – MPLX Lp – slide 8
    Gathering & Processing Segment Marcellus & Utica Operations Processed Volumes(a) Gathered volumes averaged 3.1 Bcf/d, Capacity at Utilization of 35% increase over 3Q 2017 End of Average Available Area Volume Processed volumes…
  9. 3Q 2018 Earnings Presentation – MPLX Lp – slide 9
    Gathering & Processing Segment Marcellus & Utica Fractionation Fractionated Volumes(a) Achieved 3Q 2018 fractionated Capacity at Utilization of Average volumes of 454 MBPD Area End of Volume Available Quarter Capacity (MBPD)…
  10. 3Q 2018 Earnings Presentation – MPLX Lp – slide 10
    Gathering & Processing Segment Southwest Operations Processed Volumes(a) Gathered volumes averaged 1.6 Bcf/d, 14% increase over 3Q 2017 Capacity at Utilization of Average End of Available Area Volume Quarter Capacity Processed…
  11. 3Q 2018 Earnings Presentation – MPLX Lp – slide 11
    3Q 2018 Financial Highlights Adjusted EBITDA Distributable Cash Flow 3000 2017 2018 2400 2017 2018 2,564 2,080 2500 2000 2000 1600 MM MM 1,435 1,183 1500 1200 937 800 766 1000 538 442 500 400 0 0 3Q Year-to-Date…
  12. 3Q 2018 Earnings Presentation – MPLX Lp – slide 12
    3Q 2018 vs. 3Q 2017 Adjusted EBITDA 1,000 70 937 53 250 800 G&P 390 600 538 26 MM 400 G&P 320 L&S 547 200 L&S 2Q 2018 218 vs. 2Q 0 2017 3Q 2017 Drop 3Q 2017 Adjusted EBITDA 1Q 2018 Drop Logistics & Storage Gathering…
  13. 3Q 2018 Earnings Presentation – MPLX Lp – slide 13
    Financial and Balance Sheet Highlights As of (MM except ratio data) 9/30/18 Cash and cash equivalents 37 Total assets 22,379 Total debt(a) 12,890 Redeemable preferred units 1,003 Total equity 6,953 Distribution coverage 1.47x…
  14. 3Q 2018 Earnings Presentation – MPLX Lp – slide 14
    Appendix 15
  15. 3Q 2018 Earnings Presentation – MPLX Lp – slide 15
    2018 MPLX Organic Growth Capital Projects Gathering & Processing Segment Est. Completion Est. Completion Processing and Fractionation Shale Resource Capacity Gathering Date Date Marcellus/Utica Rich- and Dry- Ongoing Sherwood 9…
  16. 3Q 2018 Earnings Presentation – MPLX Lp – slide 16
    2019+ Announced Projects Gathering & Processing Segment Continuing to execute on build out in both the Marcellus/Utica and Permian to meet industry needs Complex Name Location Capacity Est. Completion Date Sherwood 12 Processing…
  17. 3Q 2018 Earnings Presentation – MPLX Lp – slide 17
    MPLX Organic Growth Capital Projects Logistics & Storage Segment Est. Completion Projects Description Date Ozark and Wood River-to-Patoka Increasing pipeline capacity to 360 MBPD; provides crude sourcing In Service Pipeline Expansions…
  18. 3Q 2018 Earnings Presentation – MPLX Lp – slide 18
    Reconciliation of Adjusted EBITDA and Distributable Cash from Net Income (MM) 3Q 2018 3Q 2017 YTD 2018 YTD 2017 (a)The Partnership makes a distinction Net income 516 217 1,395 595 between realized or unrealized gains Provision for…
  19. 3Q 2018 Earnings Presentation – MPLX Lp – slide 19
    Reconciliation of Adjusted EBITDA and Distributable Cash from Net Cash Provided by Operating Activities (MM) 3Q 2018 3Q 2017 YTD 2018 YTD 2017 (a)The Partnership makes a distinction Net cash provided by operating activities 737 494 2,027…
  20. 3Q 2018 Earnings Presentation – MPLX Lp – slide 20
    Reconciliation of Segment Adjusted EBITDA to Net Income (a)The Partnership makes a distinction (MM) 3Q 2018 3Q 2017 YTD 2018 YTD 2017 between realized or unrealized gains and losses on derivatives. During the L&S segment adjusted…
  21. 3Q 2018 Earnings Presentation – MPLX Lp – slide 21
    Reconciliation of Segment Adjusted EBITDA to Net Income Drop Impact 3Q 2018 YTD 2018 (a)The drops are the 3Q 2017 Drop (a) (a) which included Joint Interest in (MM) without Drops 3Q 2018 without Drops YTD 2018 Drops Drops Pipeline &…
  22. 3Q 2018 Earnings Presentation – MPLX Lp – slide 22
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