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Wells Fargo Midstream and Utility Symposium – Plains All American Pipeline, L.P.

Plains All American Pipeline, L.P. · Dec 5, 2018 · 19 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. Wells Fargo Midstream and Utility Symposium – Plains All American Pipeline, L.P. – slide 1
    Wells Fargo Midstream & Utility Symposium December 5-6, 2018 www.plainsallamerican.com NYSE: PAA & PAGP 1
  2. Wells Fargo Midstream and Utility Symposium – Plains All American Pipeline, L.P. – slide 2
    Significant Progress Ongoing Execution Focus Solid quarterly results / guidance increases Deleveraging plan significantly advanced Executing key projects Sunrise, Cactus II, Permian debottlenecking Positioning for the Future…
  3. Wells Fargo Midstream and Utility Symposium – Plains All American Pipeline, L.P. – slide 3
    Key Takeaways Constructive Long-term Fundamentals & Outlook Market balancing, U.S. leading growth Integrated Asset Base & Business Model Linking key supply & demand markets Fee-based Growth Visibility Potential margin-based…
  4. Wells Fargo Midstream and Utility Symposium – Plains All American Pipeline, L.P. – slide 4
    Over Past 20+ Years, PAA Has Developed One of the Largest and Most Integrated Midstream Systems in North America PAAs Crude Oil Value Chain Legend Plains Current Profile Volumes Handled(1): 5.7 mmb/d Transportation 1.3 mmb/d…
  5. Wells Fargo Midstream and Utility Symposium – Plains All American Pipeline, L.P. – slide 5
    Constructive Long-term Fundamentals Driven by continued global demand growth Inventories Normalizing Continued Global Demand Growth Significant draws for 18 months 100 mmb/d global demand by YE18 Recent inventory builds and…
  6. Wells Fargo Midstream and Utility Symposium – Plains All American Pipeline, L.P. – slide 6
    U.S. Leading World Liquids Growth (1) Permian Projected to be a Top 4 Producer by YE 2019 mmb/d Top 10 Liquids Producing Nations (Plus Permian) Permian Source: EIA, BTU Analytics & PAA Estimates Note: Permian NGL…
  7. Wells Fargo Midstream and Utility Symposium – Plains All American Pipeline, L.P. – slide 7
    Well Positioned to Benefit From Strong Growth 6.5 mmb/d growth (YE 2017 to YE 2023) Western Canada Williston mb/d mb/d 6,000 2,000 1,400 1,700 4,700 1,500 4,000 1,000 2,000 500 0 0 YE YE YE YE 2017 2023 2017 2023…
  8. Wells Fargo Midstream and Utility Symposium – Plains All American Pipeline, L.P. – slide 8
    Permian Drilled but Uncompleted Wells (DUCs) Support Visibility for Continued Production Growth Permian Drilling vs. Completions Permian: PAAs largest asset / Wells operating leverage DUC inventory supports future production…
  9. Wells Fargo Midstream and Utility Symposium – Plains All American Pipeline, L.P. – slide 9
    Advancing Optimization & Expansion of Existing System Opportunities extend beyond the Permian Patoka Advancing optimization/expansion opportunities downstream of Cushing -- potential for Capline reversal subject to Cushing owners…
  10. Wells Fargo Midstream and Utility Symposium – Plains All American Pipeline, L.P. – slide 10
    Permian Long-Haul Projects Enhance market access & further optimize system Cushing Sunrise Expansion (Ph. I & II) PAA Net Pipeline Capacity (mmb/d) Gathering: 2 Intra-Basin: 2 Long-Haul: 1 Gross Capacity: 500 mb/d (24) --Purchase…
  11. Wells Fargo Midstream and Utility Symposium – Plains All American Pipeline, L.P. – slide 11
    Permian Gathering & Intra-Basin Systems Significant Capacity Expansions Underway / Completed (in yellow) Gathering Projects: Intra-Basin Projects: +600 mb/d +1,000 mb/d COLORADO CITY El Mar to Wink Wink to Midland WINK…
  12. Wells Fargo Midstream and Utility Symposium – Plains All American Pipeline, L.P. – slide 12
    Significant Growth in Permian Tariff Volumes Across system: gathering, intra-basin and long-haul Permian system capacity (YE 2017) PAA Permian Tariff Volumes(1) Gathering: 2 mmb/d (mb/d) Intra-Basin: 2 mmb/d 30% growth +/- 3,800…
  13. Wells Fargo Midstream and Utility Symposium – Plains All American Pipeline, L.P. – slide 13
    80% of 2.6 billion 2018/2019 Growth Capital Program Focused in the Permian Basin Aug. 2018 increased 2018/2019 capital program650mm, primarily driven by Permian infrastructure demand 2018/2019 Capital Program Mix Expect 2019 portion…
  14. Wells Fargo Midstream and Utility Symposium – Plains All American Pipeline, L.P. – slide 14
    Solid Fee-Based Growth Through the Cycle Supply & Logistics Segment is strategic and complementary Margin-Based Adj. EBITDA Excess S&L ( billions) proceeds to 1.0 reduce debt / Reset S&L 0.8 fund capital Expectations 0.6 0.9…
  15. Wells Fargo Midstream and Utility Symposium – Plains All American Pipeline, L.P. – slide 15
    Improving Financial Flexibility Combination of debt reduction & fee-based growth Approaching targeted credit metrics PAA Debt & Leverage Ratios Reduced total debt 1.8 B from ( billions) (Lev.) 9/30/17 (reduced leverage 1.5x) 12…
  16. Wells Fargo Midstream and Utility Symposium – Plains All American Pipeline, L.P. – slide 16
    Distribution Management Status Report Upon completion of deleveraging plan in 1H19, expect to be in position to increase distribution Potentially as soon as the 1Q19 distribution payable May 2019 Factors Management and the Board will…
  17. Wells Fargo Midstream and Utility Symposium – Plains All American Pipeline, L.P. – slide 17
    Building Business for the Long-Term People Assets Systems Exceptional team Build around core assets Operations Management Long-term relationships System optimization System (OMS) (Customers, Employees, & Partners) Improving systems…
  18. Wells Fargo Midstream and Utility Symposium – Plains All American Pipeline, L.P. – slide 18
    Key Takeaways Constructive Long-term Fundamentals & Outlook Market balancing, U.S. leading growth Integrated Asset Base & Business Model Linking key supply & demand markets Fee-based Growth Visibility Potential margin-based…
  19. Wells Fargo Midstream and Utility Symposium – Plains All American Pipeline, L.P. – slide 19
    www.plainsallamerican.com NYSE: PAA & PAGP 20

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