Wells Fargo Midstream and Utility Symposium December 2018
Roadmap to Creating Superior Value Capture Full Enhance Grow in Leverage Financial Midstream Cash Flow Premier MPC Priorities Value Chain Stability Basins Relationship Participate across Long-haul pipelines Permian: Fosters growth…
Key Investment Highlights Diversified large-cap MLP positioned to deliver attractive returns over the long term Logistics & Expanding third-party business and delivering industry solutions Storage Supports extensive operations of…
Compelling Investment Opportunity 1,000 1.60 Attractive returns for unitholders 937 867 Forecast 10% distribution growth in 2018 900 Expect 0.01 per unit increase each quarter in 2019(a) 800 760 1.50 Gathering & Processing…
U.S. Production Growth Creates Midstream Opportunities Strong production growth in crude, natural gas, and natural gas liquids will require additional infrastructure to link supply to global demand markets. Pipelines, processing,…
Capturing The Full Midstream Value Chain Feedstock Acquisition Inbound Logistics Refining & Processing Outbound Logistics Marketing & Retail Diversification enhances opportunities for revenue capture Integration enables capture…
Capturing Permian Opportunities: Follow the Molecule Creating an integrated footprint from Legend Crude the Permian to the Gulf Coast NGL Natural Gas 1 Gathering and processing Delaware & Midland Basins TEXAS 2 Long-haul…
1 Permian G&P Feeds Downstream Opportunities G&P assets create significant growth opportunities in the Permian 1 Legend Crude pipeline Natural gas pipeline NGL pipeline Preakness Torado Crude gathering Existing processing…
2 Permian Crude Long-Haul Pipelines Investments in long-haul pipelines generate stable, fee-based midstream income and also help lower feedstock costs tor MPC refineries Gray Oak Pipeline (MPC Project) MPC, Diamondback Energy, PSXP…
2 Permian Natural Gas Long-Haul Pipeline Expand our value chain by connecting growing natural gas production to demand from MPC refineries and global export markets Whistler Pipeline MPLX, Targa, White Water Midstream, and potentially…
2 Permian NGL Long-Haul Pipeline and 3 Fractionation Expand our value chain by connecting growing NGL production and developing new fractionation infrastructure in the Gulf Coast BANGL Pipeline (Belvieu Alternative NGL) MPLX, White…
4 Expanding Export Assets at Five Gulf Coast Locations Export facilities create ability to generate third party revenue and meet global demand for crude, refined products, and NGLs Currently in service Mt. Airy, LA: acquired in 3Q18…
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…
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…
Logistics & Storage Segment Overview High-quality, well-maintained assets that are integral to MPC Transports, stores, distributes and markets crude oil and refined petroleum products Stable cash flows with fee-based revenues and…
Fuels Distribution Overview Extensive Range of Scheduling and Marketing Services that Support MPCs Refining and Marketing Operations Services Description Scheduling Annual EBITDA 600 MM Supply and demand balancing Third-party…
Crude Oil Pipelines Strategically positioned to support diverse and flexible crude oil supply Owns, leases, operates, or has interest in: Crude Oil Pipeline Joint-Interest Ownership: 4,500 miles of crude oil pipelines Bakken Pipeline…
Product Pipelines Integrated network delivering refined products to key market areas Owns, leases, operates or has interest in: 5,500 miles of product pipelines Strategically positioned to transport products from MPC refineries to MPCs…
Terminal and Storage Assets Terminal and Storage Assets Facilities provide flexibility and logistics optionality Long-term, fee-based storage and terminal services agreements with MPC 62 light product terminals with 24 MMBBL of…
Marine Transportation Operations Highly predictable income and cash-flow stream Transports refined products and crude oil on the Ohio, Mississippi, and Illinois rivers and their tributaries and inter-coastal waterways 256 barges, 20…
Organic Growth Capital Projects Logistics & Storage Segment Projects Description Est. Completion Date Ozark and Wood River-to-Patoka Increasing pipeline capacity to 360 MBPD; provides crude sourcing optionality to In Service Pipeline…
Gathering & Processing Segment Overview Ethane Raw Gathering Propane Processing Mixed Fractionation NGL Natural Gas and Normal Butane Plants NGLs Facilities Products Isobutane Production Compression Natural Gasoline Gathering…
Marcellus/Utica Overview 3.8 Bcf/d Gathering, 6.6 Bcf/d Processing & 531 MBPD C2+ Fractionation Capacity Marcellus/Utica continues to be the largest natural OH PA gas basin in the U.S. Current producer demand Bluestone supports our…
Building Infrastructure to Support Processing & Fractionation Volume Growth Marcellus/Utica Processing Capacity 8 2018 plan increases processing capacity by 21% to 7 Bcf/d Currently 65% of processing capacity in the Marcellus/Utica…
Gathering & Processing Segment Marcellus & Utica Operations Processed Volumes(a) Gathered volumes averaged 3.1 Bcf/d, Utilization of 35% increase over 3Q 2017 Capacity at Average Available Area End of Quarter Volume Capacity…
Gathering & Processing Segment Marcellus & Utica Fractionation Fractionated Volumes(a) Achieved 3Q 2018 fractionated Utilization of Capacity at Average volumes of 454 MBPD Area End of Quarter Volume Available Capacity (MBPD)(b)…
Expanding Position to Support Growing Production Permian Cana-Woodford Arkoma-Woodford Permian Basin Arapaho Complex Hickory Hills Plant Hidalgo Complex Dewey Blaine Kingfisher 200 MMcf/d Delaware Rich-gasNewfield Basin…
Gathering & Processing Segment Southwest Operations Processed Volumes(a) Gathered volumes averaged 1.6 Bcf/d, 14% increase over 3Q 2017 Capacity at Average Utilization of End of Available Area Volume Quarter Capacity Processed…
Recap: Gathering & Processing Contract Structure Durable long-term partnerships across leading basins Marcellus Utica Southwest Resource Play Marcellus, Upper Devonian Utica Haynesville, Cotton Valley, Woodford, Anadarko Basin, Granite…
2018 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-Gas Ongoing Sherwood 9…
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…
MPLX Outlook 2019 Distribution Growth: expect 0.01 per unit increase each quarter(1) Forecast (1), excluding acquisitions and dropdowns: ( billion) 2019E 2020E Net Income 2.2 2.5 Adjusted EBITDA(a) 3.9 4.4 Net cash provided by…
Appendix 36
Reconciliation of Adjusted EBITDA and Distributable Cash from Net Income (MM) 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 Net income (14) 72 194 182 187 191 217 241 423 456 516 (a)ThePartnership makes a distinction Provision…
Reconciliation of Adjusted EBITDA and Distributable Cash from Net Cash Provided by Operating Activities (MM) 3/31/16 6/30/16 9/30/16 12/31/16 3/31/17 6/30/17 9/30/17 12/31/17 3/31/18 6/30/18 9/30/18 Net cash provided by operating…
MPLX 2019-2020 Outlook Reconciliation Adjusted EBITDA and Distributable Cash Flow from Net Income ( billion) 2019E 2020E Net income 2.2 2.5 Depreciation and amortization 0.9 1.0 Net interest and other financial costs 0.7 0.7…
MPLX 2019-2020 Outlook Reconciliation Adjusted EBITDA and Distributable Cash Flow from Net Cash Provided by Operating Activities ( billion) 2019E 2020E Net cash provided by operating activities 3.2 3.8 Changes in working capital…
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