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4Q 2018 Results – Shell Midstream Partners Lp

Shell Midstream Partners Lp · Feb 21, 2019 · 12 slides

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Slides

  1. 4Q 2018 Results – Shell Midstream Partners Lp – slide 1
    Shell Midstream Partners, L.P. (SHLX) Q4 2018 Results February 21, 2019 Shell Midstream Partners 1
  2. 4Q 2018 Results – Shell Midstream Partners Lp – slide 2
    Summary Solid Q4 2018 financial performance: Continued organic growth offset by temporary operational issues Adjusted EBITDA 178.7 million, CAFD 156.1 million(1) Themes driving full year 2018 performance: Gulf of Mexico corridor…
  3. 4Q 2018 Results – Shell Midstream Partners Lp – slide 3
    Operational Results Zydeco Mainline Throughput Volume, kbpd Offshore Throughput Volume, kbpd 800 2,010 1,974 704 700 649 661 657 Offshore Amberjack 1,716 359 351 Onshore Auger 600 1,461 70 1,363 309 81 31 224 252 Poseidon 500…
  4. 4Q 2018 Results – Shell Midstream Partners Lp – slide 4
    2018: Delivering against our promises Acquire 2.5 - 2.9 billion of assets through 2018 20% Distribution Growth through 2018 Organic Growth in the Gulf of Mexico 20.1% Distribution Growth & Coverage 0.4000 0.3820 0.3650 0.3480…
  5. 4Q 2018 Results – Shell Midstream Partners Lp – slide 5
    2019 Operational Guidance and Outlook Zydeco Two contracts expired end of 2018, one second quarter 2019 Discussions ongoing and system will run with spot shipments First half of 2019 to be impacted by shipper credits Offshore…
  6. 4Q 2018 Results – Shell Midstream Partners Lp – slide 6
    Financial Results from Operations Three Months Ended ( million) December 31, 2018 September 30, 2018 Revenue 142.3 153.5 Cost and Expenses 69.6 75.6 Operating Income 72.7 77.9 Income from Equity Method Investments 73.6 72.7…
  7. 4Q 2018 Results – Shell Midstream Partners Lp – slide 7
    Non-GAAP Financial Metrics Three Months Ended ( million except per unit amount) December 31, 2018 September 30, 2018 Adjusted EBITDA Attributable to SHLX (1) 178.7 187.0 Less: Net Interest and Income Taxes Paid 19.7 19.0 Maintenance…
  8. 4Q 2018 Results – Shell Midstream Partners Lp – slide 8
    Looking Forward to 2019 Strong Sponsor support via IDR Waiver of 50 million, beginning in 1Q Zydeco Net Income and CAFD impact of approximately 15-25 million in 1Q Anticipated producer turnaround impacts of approximately 20…
  9. 4Q 2018 Results – Shell Midstream Partners Lp – slide 9
    Balance Sheet and Liquidity ( million) As of December 31, 2018 Cash and Cash Equivalents 208.0 Total Debt Outstanding 2,090.7 Total Credit Facility Capacity (Inc. Zydeco) 2,990.0 Shell Midstream Partners 10
  10. 4Q 2018 Results – Shell Midstream Partners Lp – slide 10
    Questions and Answers For further questions, please contact Jamie Parker James.Parker2Shell.com +1 832 337 2837 Shell Midstream Partners 11
  11. 4Q 2018 Results – Shell Midstream Partners Lp – slide 11
    Shell Midstream Partners
  12. 4Q 2018 Results – Shell Midstream Partners Lp – slide 12
    Appendix 2 Shell Midstream Partners 14

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