2018 Bank of America Merrill Lynch Leveraged Finance Conference December 4 - 5, 2018 Boca Raton, Florida
AMERICAN MIDSTREAM OVERVIEW American Midstream Partners, LP Asset Overview ( millions) Enterprise Value (1) 1,681 5,100 miles of natural gas, crude oil, NGL and saltwater pipelines Distribution Coverage 0.8x (1) Assets…
STRATEGIC CAPITAL ALLOCATION PLAN PROMOTES SUSTAINABLE GROWTH Self-Funding Focus Creates Long-Term Sustainability and Accelerates Growth 350 - 400 million of high-value non-core asset sales, in addition to previously announced…
STRATEGIC ASSET PORTFOLIO
AMERICAN MIDSTREAM AMERICAN MIDSTREAM STRATEGICALLY LOCATED ASSETS PRO FORMA ASSETS 6
AMERICAN MIDSTREAM DEEPWATER OFFSHORE STRATEGY - CONNECTING SUPPLY WITH DEMAND PRO FORMA ASSETS Significant Resources Provides Consistent and Sustainable Production Growth Third largest basin in the U.S. with reserves of over…
DEEPWATER GULF OF MEXICO WELL 20X LARGER THAN TYPICAL PERMIAN BASIN WELL Shallow decline curves supports predictable and sustainable cash flows Deepwater Gulf of Mexico Mississippi Canyon(1) Onshore Horizontal Midland Basin(2) Type…
AMID GATHERING 50% OF TOP DEEPWATER GAS PRODUCING FIELDS Current Development & Activity Eastern GOM Deepwater Top 20 Deepwater Gas Producing Fields Platforms/Pipelines MARS-URSA, (MC) Deepwater activity (gas dedicated to AMID…
DELTA HOUSE OVERVIEW Asset Overview Achieving System Capacity Fee-based, semi-submersible floating production 2018 Tiebacks system located in the highly prolific Mississippi Additional tie-back expected late in 2018 adding Canyon…
EAST TEXAS EXPANSION AND GROWTH Expand Capacity and Grow Capabilities to Broaden Customer Base 50 - 60 million of identified growth projects Increase Capacity through Facility Create full Value Chain serving Expansion: local…
AMERICAN MIDSTREAM EAGLE FORD OFFERS SIGNIFICANT RESOURCE POTENTIAL AND MEANINGFUL GROWTH PRO FORMA ASSETS Large contiguous acreage position provides strong continued growth trajectory 100% of acreage served by AMID assets;…
STRATEGIC DENSITY IN GROWING SOUTHEAST GAS MARKET Organic Growth Focused on Market Demand & Northeast Supply Connections 1,000 miles of 1.5 Bcf/d contracted pipelines capacity 100 delivery points Long-term firm to industrial,…
AMERICAN MIDSTREAM SILVER DOLLAR CRUDE OIL PIPELINE PRO FORMA ASSETS Asset Overview Penn Virginia has 3 rig program and is guiding to +125% Y-o-Y production increase Purchased in 2013 161 mile pipeline system AMID added 100 miles…
AMERICAN MIDSTREAM YELLOW ROSE GAS GATHERING & PROCESSING SYSTEM PRO FORMA ASSETS Asset Footprint System Specifications Penn Virginia has 3 rig program and is guiding to +125% Y-o-Y production increase Pipeline 34 miles of low…
AMERICAN MIDSTREAM BAKKEN CRUDE GATHERING SYSTEM PRO FORMA ASSETS Asset Overview 47 mile crude gathering system located in McKenzie County, North Dakota Truck terminal with 4,000 Bbls of storage capacity Anchor producer running…
TERMINAL ASSET OVERVIEW Strategically located storage terminals in key demand markets, primarily serving local refiners and chemical manufacturers 4.3 MMBbls of above-ground liquids storage capacity across 3 terminal sites Additional…
FINANCIAL STRENGTH
STRONG 2018 PERFORMANCE Year-to-Date 2018 results driven by meaningful growth across core segments Operational Highlights Continued producer development across the Partnerships Eagle Ford gathering and processing assets drove a…
FOCUSED STRATEGY TO STRENGTHEN BALANCE SHEET AND PROMOTE CAPITAL FLEXIBILITY Path to target leverage of 4.0x Terminal divestitures generating 335 million in sales proceeds Marine products terminals of 210 million closed July 31,…
CONTINUED ASSET SALE EXECUTION SUPPORTS MEANINGFUL DELEVERAGING 300 Million of Asset Sales 5.7x 5.0x 4.0x Average leverage 2020 and beyond 3.0x 2.0x 1.0x Q3 2018 2020 and Beyond 21
APPENDIX: NON-GAAP FINANCIAL MEASURES
ADJUSTED EBITDA RECONCILIATION Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 Reconciliation of Net loss attributable to the Partnership to Adjusted EBITDA and DCF: (Unaudited, in thousands)…
TOTAL SEGMENT GROSS MARGIN RECONCILIATION Three months ended Nine months ended September 30, September 30, 2018 2017 2018 2017 Total Segment Gross Margin 74,487 63,746 203,585 186,145 Direct operating expenses (18,254) (17,274)…
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