Q1 2019 Highlights and Execution 2019 DCP Midstream 3
Q1 2019 Highlights Q1 2019 Results Generated 326 million of Adjusted EBITDA and 224 million of DCF Record Q1 results Strong distribution coverage of 1.45x Bank facility leverage reduced to 3.6x Reduced costs 50 million from Q4 2018…
Consolidated Q1 2019 Financial Results Record earnings driven by strong Logistics and G&P results Distributable Cash Flow (MM) Q1 2019 Distribution Coverage 1.45x Q1 2019 Drivers Execution Delivering Q1 Positive Trends…
Financial Position and Q2 Outlook Ample Liquidity Strong Coverage Lower Leverage 1.3 1.45x 3.6x Billion Ample liquidity with 1.3 billion Funding portion of growth from Bank leverage decreased in Q1 2019 available on bank…
Capital Discipline Cheyenne Connector Self-funding portion of growth via excess Fractionator OConnor 2 coverage and divestitures Bighorn Plant & Frac New Pipe Existing Pipe Projects 100% Capacity Target In-Service Logistics &…
Delivering on 2019 Commitments Financial Excellence Strong distribution coverage of 1.45x Driving cost efficiencies Q1 2019 costs 50 million lower than Q4 2018 Strong volume growth significant increases in NGL throughput and G&P gas…
DCP Midstream - Appendix Financial and Other Supporting Slides 2019 DCP Midstream 9
2019 Earnings and Volume Outlook 2019 Segment Adjusted EBITDA 50% L&M and 50% G&P continued growth in fee-based earnings 2019 Segment Adjusted EBITDA Logistics Volume Outlook Sand Hills: increasing with recent FY2019 expansion to…
Adjusted Segment EBITDA* Logistics & Marketing Adjusted EBITDA* (MM) Gathering & Processing Adjusted EBITDA* (MM) * Adjusted Segment EBITDA is viewed as a non-Generally Accepted Accounting Principles (GAAP) measure under the…
Volumes Logistics NGL Pipeline Volume Trends and Utilization Q1'18 Q4'18 Q1'19 Q1'19 Approx Average System Gross Average NGL Average NGL Average NGL Length Capacity Net Capacity Throughput Throughput Throughput Pipeline (1) (1) (1)…
2019 Gross Margin, Sensitivities and Hedges Investments in fee-based growth coupled with hedging program provides downside protection on commodity exposed margin 2019 Adjusted Gross Margin 2019 Annual Commodity Sensitivities Before…
Margin by Segment* MM, except per unit measures Q1 2019 Q4 2018 Q3 2018 Q2 2018 Q1 2018 Gathering & Processing (G&P) Segment Natural gas wellhead - Bcf/d 4.94 4.93 4.88 4.80 4.47 (1) Segment gross margin including equity earnings…
Disciplined and Strategic Growth Executing strategic, lower risk growth projects at 5-7x target multiples with line of sight to fast volume ramp growing fee-based earnings Projects in Progress Est. Expected (MM net to DCPs interest)…
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