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RBC Capital Markets 2018 – Energy Transfer

Energy Transfer · Nov 13, 2018 · 39 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. RBC Capital Markets 2018 – Energy Transfer – slide 1
    ENERGY TRANSFER LP 2018 RBC Capital Markets Midstream Conference November 13, 2018
  2. RBC Capital Markets 2018 – Energy Transfer – slide 2
    ET HIGHLIGHTS
  3. RBC Capital Markets 2018 – Energy Transfer – slide 3
    ET KEY INVESTMENT HIGHLIGHTS Well Positioned Assets Growth From Organic Solid Financials Investments Fully integrated platform Completing multi-year Stable cash flow profile spanning entire midstream capex program with minimal…
  4. RBC Capital Markets 2018 – Energy Transfer – slide 4
    WHATS NEW Simplified Record Financial and Operational Organizational Structure Performance Energy Transfer Equity acquired Energy ET 3Q18 Adjusted EBITDA 2.6B1 Transfer Partners on 10/19/18 NGL transport volumes 1,086 MBbls/d Now…
  5. RBC Capital Markets 2018 – Energy Transfer – slide 5
    SIGNIFICANT GEOGRAPHIC FOOTPRINT ACROSS THE FAMILY Recently In-service & Asset Overview Announced Growth Projects Marcus Hook Lake Charles LNG Bayou Bridge Energy Transfer Assets Eagle Point Dakota Access Pipeline Rover…
  6. RBC Capital Markets 2018 – Energy Transfer – slide 6
    A TRULY UNIQUE FRANCHISE Natural NGLs Crude Gas Oil Gather 12.8 million Fractionate One of the largest Transport 22 Transport 4.3 More than 7.9 billion mmbtu/d of gas & 567,000 bbls/d of planned LNG million mmbtu/d of…
  7. RBC Capital Markets 2018 – Energy Transfer – slide 7
    FULLY INTEGRATED PLATFORM SPANNING THE ENTIRE MIDSTREAM VALUE CHAIN Involvement in Major Midstream Themes Across the Best Basins and Logistics Hubs Franchise Strengths Opportunities Access to multiple shale plays, storage…
  8. RBC Capital Markets 2018 – Energy Transfer – slide 8
    FULLY INTEGRATED SERVICES BY REGION ET Services By Region Midstream Natural Gas Liquids Crude Interstate Intrastate Bakken Marcellus/Utica MidCon/Panhandle North Texas Permian Basin Ark-La-Tex Eagle Ford/SE…
  9. RBC Capital Markets 2018 – Energy Transfer – slide 9
    ET ASSETS ALIGNED WITH MAJOR U.S. DRILLING REGIONS ET Rig Count Vs. Total US Rig Count ET Rig Count Vs. Lower 48 US Rig Count 1200 1,137 1100 Rigs: 59 1000 900 797 800 700 600 500 Rigs: 37 400 300 200 Rigs: 99 100 0…
  10. RBC Capital Markets 2018 – Energy Transfer – slide 10
    FULLY INTEGRATED MIDSTREAM/LIQUIDS PLATFORM ACROSS NORTH AMERICA The ability to integrate an end-to-end liquids solution will better serve customers and alleviate bottlenecks currently faced by producers Marcus Hook: The future…
  11. RBC Capital Markets 2018 – Energy Transfer – slide 11
    GROWTH FROM ORGANIC INVESTMENTS
  12. RBC Capital Markets 2018 – Energy Transfer – slide 12
    ORGANIC GROWTH ENHANCES THE COMBINED ENTITYS STRONG FOOTHOLD IN THE MOST PROLIFIC PRODUCING BASINS 2017 Bakken Crude Pipeline (1) 2013 Mariner West 2014 Mariner East 1 - Propane Active in 9 of the top 10 basins by active 2015…
  13. RBC Capital Markets 2018 – Energy Transfer – slide 13
    ET PROJECTS PROVIDE VISIBILITY FOR FUTURE EBITDA GROWTH Bakken Arrowhead Ramping Up PE3 Rebel II Processing Plant Old Ocean Pipeline Red Bluff Express Pipeline Lone Star Frac V ET has a significant number of growth…
  14. RBC Capital Markets 2018 – Energy Transfer – slide 14
    FORESEE SIGNIFICANT EBITDA GROWTH IN 2018 FROM COMPLETION OF PROJECT BACKLOG Project Description Project Timing In Service Q4 2017/Sept. Permian Express 3 Provides incremental Permian takeaway capacity, with total capacity of…
  15. RBC Capital Markets 2018 – Energy Transfer – slide 15
    CRUDE OIL SEGMENT-BAKKEN PIPELINE PROJECT Project Details Dakota Access Pipeline connects Bakken production to Patoka Hub, IL, with interconnection to Energy Transfer Crude Oil Pipeline (Trunkline conversion) to reach 1,172 miles…
  16. RBC Capital Markets 2018 – Energy Transfer – slide 16
    CRUDE OIL SEGMENT PERMIAN EXPRESS PROJECTS Permian Crude Projects Permian Express 3 Expected to provide Midland & Delaware Basin producers new crude oil takeaway capacity (utilizing existing pipelines) from this rapidly growing…
  17. RBC Capital Markets 2018 – Energy Transfer – slide 17
    CRUDE OIL SEGMENT GULF COAST PARTNERS PIPELINE Permian Gulf Coast Pipeline Permian Gulf Coast Pipeline JV Announced Joint Venture with Magellan Midstream, MPLX and Delek US Holdings to construct crude pipeline to transport crude…
  18. RBC Capital Markets 2018 – Energy Transfer – slide 18
    CRUDE OIL SEGMENT - BAYOU BRIDGE PIPELINE PROJECT Project Details Bayou Bridge Pipeline Map Joint venture between Phillips 66 Partners (40%) and ET (60%, operator) 30 Nederland to Lake Charles segment went into service in April…
  19. RBC Capital Markets 2018 – Energy Transfer – slide 19
    NGL & REFINED PROJECTS SEGMENT: MARINER EAST SYSTEM A comprehensive Marcellus Shale solution reaching local, regional and international markets Will transport Natural Gas Liquids from OH / Western PA to the Marcus Hook Industrial…
  20. RBC Capital Markets 2018 – Energy Transfer – slide 20
    MIDSTREAM SEGMENT: PERMIAN BASIN INFRASTRUCTURE BUILDOUT ET is nearing capacity in both the Delaware and Midland Basins due to continued producer demand and strong growth outlook in the Permian As a result of this demand, ET has…
  21. RBC Capital Markets 2018 – Energy Transfer – slide 21
    MIDSTREAM SEGMENT: REVOLUTION SYSTEM PROJECT Project Details Revolution Project Map System is located in Pennsylvanias Marcellus/Upper Devonian Shale rich-gas area Rich-gas, complete solution system Currently 20 miles of 16…
  22. RBC Capital Markets 2018 – Energy Transfer – slide 22
    INTERSTATE SEGMENT: MARCELLUS/UTICA ROVER PIPELINE Project Details Rover Project Map Sourcing natural gas from the Marcellus and Utica shales Connectivity to numerous markets in the U.S. and Canada Midwest: Panhandle Eastern and…
  23. RBC Capital Markets 2018 – Energy Transfer – slide 23
    PRIMARILY FEE-BASED BUSINESS MIX Stability of Cash Flows Q3 2018 Segment Margin by Segment1 Midstream: Approximately 80% fee-based margins from All Other minimum volume commitment, acreage dedication and Intrastate 1%…
  24. RBC Capital Markets 2018 – Energy Transfer – slide 24
    ETE - ETP MERGER
  25. RBC Capital Markets 2018 – Energy Transfer – slide 25
    TRANSACTION OVERVIEW On October 18, 2018, ETP unitholders voted to adopt the merger agreement, providing for the merger of ETP with ETE for 27 billion in ETE common units Based on the results, over 98% of the units that voted, voted…
  26. RBC Capital Markets 2018 – Energy Transfer – slide 26
    ET ORGANIZATIONAL STRUCTURE ENERGY TRANSFER LP (formerly Energy Transfer Equity, L.P.) (NYSE: ET) Non-economic GP Interest 100% LP interest Energy Transfer Operating, L.P. (formerly Energy Transfer Partners, L.P.)…
  27. RBC Capital Markets 2018 – Energy Transfer – slide 27
    STRATEGIC RATIONALE SIMPLIFIES Transaction simplified Energy Transfers corporate structure OWNERSHIP Further aligns economic interests within the Energy Transfer family STRUCTURE Responsive to investor sentiment regarding…
  28. RBC Capital Markets 2018 – Energy Transfer – slide 28
    ENHANCED PRO FORMA BALANCE SHEET AND LIQUIDITY POSITION CONSERVATIVE AND FLEXIBLE FINANCIAL POLICY DEBT EXCHANGE OVERVIEW Expect to maintain ET distribution per unit at current level Meaningfully higher retained cash flow to drive…
  29. RBC Capital Markets 2018 – Energy Transfer – slide 29
    KEY TAKEAWAYS Diversified business model, together with the geographical diversity of our assets, continues to Business allow our businesses to demonstrate resiliency. The underlying fundamentals of our business Diversity are strong…
  30. RBC Capital Markets 2018 – Energy Transfer – slide 30
    APPENDIX
  31. RBC Capital Markets 2018 – Energy Transfer – slide 31
    CRUDE OIL SEGMENT Crude Oil Pipelines Crude Oil Acquisition & Marketing 9,360 miles of crude oil trunk and gathering lines located in the Southwest and Crude truck fleet of approximately 370 trucks Midwest United States Purchase…
  32. RBC Capital Markets 2018 – Energy Transfer – slide 32
    CRUDE OIL SEGMENT - PERMIAN EXPRESS PARTNERS Permian Express Partners Joint Venture Details Strategic joint venture with ExxonMobil (ET owns 88% and is the operator) Combines key crude oil pipeline network of both companies and…
  33. RBC Capital Markets 2018 – Energy Transfer – slide 33
    NGL & REFINED PRODUCTS SEGMENT NGL Storage Fractionation NGL Pipeline Transportation TET Mont Belvieu Storage Hub 50 million 5 Mont Belvieu fractionators (540+ Mbpd) 4,300 miles of NGL Pipelines throughout Texas and barrels NGL…
  34. RBC Capital Markets 2018 – Energy Transfer – slide 34
    MIDSTREAM ASSETS Midstream Asset Map Midstream Highlights Volume growth in key regions: Q3 2018 gathered volumes reached a record 12.8 million mmbtu/d, and NGLs produced were 583,000 bbls/d, both up substantially over Q3 2017…
  35. RBC Capital Markets 2018 – Energy Transfer – slide 35
    INTERSTATE PIPELINE ASSETS Interstate Asset Map Interstate Highlights Our interstate pipelines provide: Stability Approximately 95% of revenue is derived from fixed reservation fees Diversity Rover Access to multiple shale plays,…
  36. RBC Capital Markets 2018 – Energy Transfer – slide 36
    INTRASTATE PIPELINE ASSETS Intrastate Asset Map Intrastate Highlights Continue to expect volumes to Mexico to grow, particularly with the startup of Trans-Pecos and Comanche Trail in Q1 2017, which will result in increased demand…
  37. RBC Capital Markets 2018 – Energy Transfer – slide 37
    INTRASTATE SEGMENT: MEXICO (CFE) Waha Header System 6 Bcf/d Header System Will connect to: Trans-Pecos & Comanche Trail Pipelines ETs vast interstate and Comanche Trail Pipeline intrastate pipeline network Multiple 3rd party…
  38. RBC Capital Markets 2018 – Energy Transfer – slide 38
    ET NON-GAAP FINANCIAL MEASURES 39
  39. RBC Capital Markets 2018 – Energy Transfer – slide 39
    ETO NON-GAAP FINANCIAL MEASURES Segment Margin is a non-GAAP financial measure and is presented herein to assist in the analysis of segment operating results and particularly to facilitate an understanding of the impacts that…

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