Enable Midstream Partners, LP Third Quarter 2018 Conference Call November 7, 2018
Enable Highlights Record quarterly natural gas gathered, natural gas processed, natural gas liquids produced and crude oil gathered volumes1 Higher quarterly revenues, gross margin, net income, Adjusted EBITDA and distributable…
G&P Segment Highlights Rig activity remains strong around STACK Enables gathering footprint with 47 rigs1 25 currently drilling wells expected to be connected to Enables gathering systems 10 47 SCOOP Granite Wash Active Rigs on…
Velocity Acquisition 1 Integrated crude oil and condensate gathering System Map and transportation business builds on Enables market-leading Anadarko Basin midstream platform Uniquely positioned system with segregated and batched…
Williston Basin System Expansion Crude oil and water gathering system System Map 1 expansion with XTO Energy in North Dakotas Dunn and McKenzie counties under long-term, fee-based agreements Enable plans to add up to 72,000 bpd…
Gulf Run Pipeline Designed to move up to 2.75 Bcf/d of 1 System Map abundant U.S. natural gas supplies from two liquid hubs to growing liquefied natural gas (LNG) export markets on the Gulf Coast Utilizes existing Enable Gas…
T&S Commercial Highlights 1 Contracted or extended over 1.5 million System Map dekatherms per day (Dth/d) of transportation capacity during 2018 Producers continue to request solutions to move Anadarko Basin natural gas…
Regulatory Update MRT made compliance filings in its rate case Aug. 30, 2018, to reflect, among other things, the elimination of an income tax allowance, with rates to be moved into effect Jan. 1, 2019, subject to refund MRT Rate…
Third Quarter Results
Strong Operational Performance Continues Natural gas gathered and processed volumes increased in the third quarter of 2018 compared to the third quarter of 2017 as a result of higher gathered and processed volumes in the Anadarko and…
Financial Results and Highlights Financial Results Financial Highlights In millions, except per-unit and ratio data Q3-18 Q3-17 Enable remains committed to maintaining investment-grade credit Total Revenues 928 705 metrics Gross…
2019 Outlook and Key Takeaways
2019 Outlook 2019 Operational Outlook 2019 Financial Outlook in millions Natural Gas Gathered Volumes (TBtu/d) 4.3 4.9 Net Income Attributable to Common Units 435 505 Anadarko 2.1 2.4 Interest Expense 190 210 Arkoma 0.5 0.6…
Key Takeaways Velocity acquisition positions Enable to take advantage of recent drilling trends with an integrated crude oil and condensate gathering and transportation system Continued Proposed Gulf Run Pipeline leverages existing…
Question and Answer Question and Answer
Appendix Appendix
2018 Outlook 2018 outlook provided May 2, 2018 2018 Operational Outlook 2018 Financial Outlook in millions Natural Gas Gathered Volumes (TBtu/d) 4.1 4.8 Net Income Attributable to Common Units 375 445 Anadarko 2.0 2.3 Interest…
Derivative Activity and Price Sensitivities 2018 Derivative Activity Three Months Ended September 30 in millions 2018 2017 Gain (Loss) on Derivative Activity (24) (7) Change in Fair Value of Derivatives (16) (6) Realized Gain…
Gross Margin Profile and Hedging Summary 2019 Gross Margin Profile1 Hedging Summary2 Commodity Bal-2018 2019 91% fee- 9% based or 6% Natural Gas (NYMEX) hedged 43% Exposure Hedged (%) 78% 36% Average Hedge Price (/MMBtu) 3.00 2.92…
Condensed Consolidated Statements of Income 1. All outstanding subordinated units converted into common units on a one-for-one basis on Aug. 30, 2017 24
Operating Data 1. Includes volumes under third party processing arrangements 2. Excludes condensate 28 3. NGLs sold includes volumes of NGLs withdrawn from inventory or purchased for system balancing purposes
2018 Forward Looking Non-GAAP Reconciliation 2018 outlook provided May 2, 2018 2018 Outlook (In millions) Reconciliation of Adjusted EBITDA and distributable cash flow to net income attributable to limited partners: Net income…
2018 Forward Looking Non-GAAP Reconciliation Continued 2018 outlook provided May 2, 2018 2018 Outlook (In millions) Reconciliation of Adjusted interest expense to Interest expense: Interest expense, net of interest income 145 - 160…
2019 Forward Looking Non-GAAP Reconciliation 1. In accordance with the Partnership Agreement, the Series A Preferred Unit distributions are deemed to have been paid out of available cash with respect to the quarter immediately…
2019 Forward Looking Non-GAAP Reconciliation Continued *Enable is unable to present a quantitative reconciliation of forward looking Adjusted EBITDA to net cash provided by operating activities because certain information needed to…
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