First Quarter 2019 Results May 7, 2019 Key Updates and Growth Outlook Key Updates Growth Outlook Affirming 2019 Adjusted EBITDA guidance Increasing volumes and capacity to drive ongoing earnings growth Balance sheet focus and…
First Quarter 2019 Results May 7, 2019 Recent Transactions Driving Down Leverage Consolidated Leverage Consolidated Leverage Proforma Leverage SEMG Covenant Leverage (1) Proforma for 49% Maurepas Sale Proforma to…
First Quarter 2019 Results May 7, 2019 First Quarter 2019 Consolidated Results Key Financial Metrics 1Q18 2Q18 3Q18 4Q18 1Q19 (USD in millions, except per share) Net Income (loss) (33.0) (2.7) 8.4 3.0 (3.3) Adjusted EBITDA…
First Quarter 2019 Results May 7, 2019 First Quarter 2019 Consolidated Results Segment Profit 1Q18 2Q18 3Q18 4Q18 1Q19 (USD in millions) U.S. Liquids 68.1 80.4 75.5 85.5 89.5 U.S. Gas 14.3 15.4 19.8 17.6 12.1 Canada 22.1 21.4…
First Quarter 2019 Results May 7, 2019 U.S. Liquids Segment Update Segment Profit 1Q 2019 Key Highlights Stable earnings underpinned by take-or-pay fee USD in millions based revenues 89.5 Continued strong volumes on White…
First Quarter 2019 Results May 7, 2019 U.S. Gas Segment Update Segment Profit 1Q 2019 Key Highlights Lower STACK volumes due to expected drop of uncommitted volumes USD in millions Lower Mississippi Lime volumes due to…
First Quarter 2019 Results May 7, 2019 Canada Segment Update Segment Profit 1Q 2019 Key Highlights Joint Venture with KKR and Patterson Creek acquisition closed Feb 25th 1Q19 growth driven by contributions from new Wapiti USD…
First Quarter 2019 Results May 7, 2019 Progress towards 2019 Strategic Goals and Priorities BALANCE prudent capital management with CAPTURING strategic growth opportunities White Cliffs NGL conversion started in May…
First Quarter 2019 Results May 7, 2019 Appendix
First Quarter 2019 Results May 7, 2019 Portfolio Transformation Driving Secure Cash Flows Over 95% of Total LTM Gross Margin from Fee Based Cash Flows 11% 5% 2% 3% 98% 97% 95% 89% 58% 58% 49% 38% 2016 2017 2018 1Q…
First Quarter 2019 Results May 7, 2019 Leverage and Liquidity (USD in millions, unaudited) Interest Rate 3/31/2019 Revolving Credit Facility - 1.0 billion due 2021 Senior unsecured notes due 2022 5.625% 400 Senior unsecured notes…
First Quarter 2019 Results May 7, 2019 Operational Summary Key Asset Volumes 1Q18 2Q18 3Q18 4Q18 1Q19 U.S. Liquids White Cliffs Pipeline Volumes (mbbl/d) 107 135 112 144 147 Cushing Terminal Utilization 98% 97% 94% 98% 100%…
First Quarter 2019 Results May 7, 2019 Consolidated Balance Sheets (in thousands, unaudited, condensed) March 31, December 31, 2019 2018 ASSETS Current assets 1,220,881 715,825 Property, plant and equipment, net 3,845,508…
First Quarter 2019 Results May 7, 2019 Consolidated Statements of Operations and Comprehensive Income (Loss) (in thousands, except per share amounts, unaudited, condensed) 2019 2018 1Q 1Q 2Q 3Q 4Q FY2018 Revenues 567,232 661,609…
First Quarter 2019 Results May 7, 2019 Non-GAAP Adjusted EBITDA Calculation (in thousands, unaudited) 2019 2018 Reconciliation of net income to Adjusted EBITDA: 1Q 1Q 2Q 3Q 4Q FY2018 Net income (loss) (3,314) (33,035) (2,726)…
First Quarter 2019 Results May 7, 2019 Segment Profit and Adjusted EBITDA (in thousands, unaudited) 2019 2018 Segment Profit: 1Q 1Q 2Q 3Q 4Q FY2018 U.S. Liquids 89,511 68,056 80,393 75,500 85,474 309,423 U.S. Gas 12,165 14,277…
First Quarter 2019 Results May 7, 2019 Reconciliation of Operating Income to Total Segment Profit (in thousands, unaudited) 2019 2018 1Q 1Q 2Q 3Q 4Q FY2018 Operating income 27,465 34,853 31,346 39,699 49,913 155,811 Plus:…
First Quarter 2019 Results May 7, 2019 Cash Available for Dividends (in thousands, unaudited) 2019 2018 1Q 1Q 2Q 3Q 4Q FY2018 Adjusted EBITDA 102,990 93,371 99,010 96,451 105,352 394,184 Less: Cash interest expense 35,626 32,530…
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