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3Q 2018 Earnings – Shell Midstream Partners Lp

Shell Midstream Partners Lp · Nov 2, 2018 · 11 slides

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Slides

  1. 3Q 2018 Earnings – Shell Midstream Partners Lp – slide 1
    Shell Midstream Partners, L.P. (SHLX) Q3 2018 Results November 2, 2018 Shell Midstream Partners 1
  2. 3Q 2018 Earnings – Shell Midstream Partners Lp – slide 2
    Summary Q3 2018 financial performance: Base Business Performing Well Adjusted EBITDA 187 million, up 20%, CAFD 164 million, up 20%(1) Current leverage ratios allow full flexibility to grow in line with guidance Gulf of Mexico:…
  3. 3Q 2018 Earnings – Shell Midstream Partners Lp – slide 3
    Operational Results Zydeco Mainline Throughput Volume, kbpd Offshore Throughput Volume, kbpd 1,974 700 649 661 657 616 1,716 Amberjack Offshore 359 600 1,538 1,461 Auger Onshore 1,363 309 81 471 78 31 500 48 224 Poseidon 257 26…
  4. 3Q 2018 Earnings – Shell Midstream Partners Lp – slide 4
    Zydeco Recontracting Market dynamics are evolving while still seeing robust demand on the system Fundamentals Driving Demand Growing Permian production into Houston Constraintsand lack of evacuation capacity out of Houston Strong…
  5. 3Q 2018 Earnings – Shell Midstream Partners Lp – slide 5
    Anticipated 2019 IDR Growth Waiver Shell Midstream Partners and our sponsor expect to reach agreement in near term to waive 2019 IDR Growth IDRs for 2019 would be capped at approximately Q4 2018 levels 2019 IDR Waiver…
  6. 3Q 2018 Earnings – Shell Midstream Partners Lp – slide 6
    Financial Results from Operations Three Months Ended ( million) September 30, 2018 June 30, 2018 Revenue 153.5 129.3 Cost and Expenses 75.6 72.6 Operating Income 77.9 56.7 Income from Equity Method Investments 72.7 48.4 Dividend…
  7. 3Q 2018 Earnings – Shell Midstream Partners Lp – slide 7
    Non-GAAP Financial Metrics Three Months Ended ( million except per unit amount) September 30, 2018 June 30, 2018 Adjusted EBITDA Attributable to SHLX (1) 187.0 155.2 Less: Net Interest and Income Taxes Paid 19.0 13.3 Maintenance…
  8. 3Q 2018 Earnings – Shell Midstream Partners Lp – slide 8
    Balance Sheet and Liquidity ( million) As of September 30, 2018 Cash and Cash Equivalents 199.5 Total Debt Outstanding 2,090.5 Total Credit Facility Capacity (Inc. Zydeco) 2,990.0 Shell Midstream Partners 9
  9. 3Q 2018 Earnings – Shell Midstream Partners Lp – slide 9
    Questions and Answers For further questions, please contact Jamie Parker James.Parker2Shell.com +1 832 337 2837 Shell Midstream Partners 10
  10. 3Q 2018 Earnings – Shell Midstream Partners Lp – slide 10
    Shell Midstream Partners
  11. 3Q 2018 Earnings – Shell Midstream Partners Lp – slide 11
    Appendix 2 Shell Midstream Partners 13

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