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1Q 2019 Earnings Presentation – CNX Midstream Partners

CNX Midstream Partners · Apr 30, 2019 · 11 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. 1Q 2019 Earnings Presentation – CNX Midstream Partners – slide 1
    Earnings Results First Quarter 2019 April 30, 2019
  2. 1Q 2019 Earnings Presentation – CNX Midstream Partners – slide 2
    Q1 2019 Results Average net daily throughput of 1,594 Bbtu/d in Q1 2019; down 1% Q/Q - Excluding third-party volumes under high-pressure short-haul agreements, average daily throughput of 1,468 Bbtu/d; down 1% Q/Q 16th consecutive…
  3. 1Q 2019 Earnings Presentation – CNX Midstream Partners – slide 3
    2019E Guidance Update Full-Year 2019 Guidance Update PREVIOUS UPDATED Capital Budget Increase Additional capital spend related to incremental ( in millions) 2019E 2019E CNX activity in Richhill: Throughput (BBtu/d)(1) 1,400 - 1,500…
  4. 1Q 2019 Earnings Presentation – CNX Midstream Partners – slide 4
    2019E Capital Program Update 2019 Capital Expenditure Ramp Driving 2019E Major Capital Projects Expansion of SWPA Gathering System Two new compressor stations and one station expansion Morris Station Upgrade Richhill Area - Help…
  5. 1Q 2019 Earnings Presentation – CNX Midstream Partners – slide 5
    Capital Expenditures Primarily in Long-Lived Assets Well Connect and Other 2019E Capital Expenditure Guidance: 310-330 million Approximately 80-90% of expenditures on long-lived, high utilization assets Suction Trunkline…
  6. 1Q 2019 Earnings Presentation – CNX Midstream Partners – slide 6
    CNXM DevCo Overview and Organizational Structure DevCo I NYSE: CNX CPA 100% SWPA Central CNX Gathering LLC Shirley- 33.4% LP Interest Pennsboro 100% CNX Midstream GP LLC DevCo III The General Partner Public Airport…
  7. 1Q 2019 Earnings Presentation – CNX Midstream Partners – slide 7
    Appendix
  8. 1Q 2019 Earnings Presentation – CNX Midstream Partners – slide 8
    Non-GAAP Reconciliation EBITDA and Adjusted EBITDA We define EBITDA as net income (loss) before net interest expense, depreciation and amortization, and Adjusted EBITDA as EBITDA adjusted for non-cash items which should not be included…
  9. 1Q 2019 Earnings Presentation – CNX Midstream Partners – slide 9
    Non-GAAP Reconciliation ( in thousands) Three Months Ended Mar. 31, (unaudited) 2019 2018 Net Income 34,976 33,705 Depreciation expense 5,650 5,856 Interest expense 7,339 2,489 EBITDA 47,965 42,050 Non-cash unit-based compensation…
  10. 1Q 2019 Earnings Presentation – CNX Midstream Partners – slide 10
    Non-GAAP Reconciliation ( in millions) (unaudited) 2019 Guidance Net Income 151 Depreciation expense 26 Interest expense 35 EBITDA 212 Non-cash unit-based compensation expense 3 Adjusted EBITDA 215 Less: Net income attributable…
  11. 1Q 2019 Earnings Presentation – CNX Midstream Partners – slide 11
    Non-GAAP Reconciliation ( in thousands) Twelve Months Ended (unaudited) 3/31/2019 3/31/2018 12/31/2018 Net Income 140,266 134,527 138,995 Depreciation expense 21,733 22,877 21,939 Interest expense 28,464 6,011 23,614 EBITDA 190,463…

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