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1Q 2019 Earnings Presentation – Shell Midstream Partners Lp

Shell Midstream Partners Lp · May 2, 2019 · 12 slides

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Slides

  1. 1Q 2019 Earnings Presentation – Shell Midstream Partners Lp – slide 1
    Shell Midstream Partners, L.P. (SHLX) Q1 2019 Results May 2, 2019 Shell Midstream Partners 1
  2. 1Q 2019 Earnings Presentation – Shell Midstream Partners Lp – slide 2
    Summary Q1 2019 financial performance continues to deliver value: Adjusted EBITDA 170 million, CAFD 140 million(1) Quarterly distributions increased to 0.415 per unit, a 3.75% increase over prior quarter Operational Update: GOM…
  3. 1Q 2019 Earnings Presentation – Shell Midstream Partners Lp – slide 3
    Operational Update - Offshore Offshore Throughput Volume, kbpd Operational Highlights +31% Amberjack growth of 17% in 3 quarters since acquisition 2,010 1,974 1,921 Mars volumes remain robust driven by in-field 351 development…
  4. 1Q 2019 Earnings Presentation – Shell Midstream Partners Lp – slide 4
    Gulf of Mexico Resilient and growing 1 EIA Total US Gulf of Mexico Production - Shell Latest forecasts indicate a record high of 2.1 mbpd in 2020 (mbpd) 2.5 +57% 2.0 1.5 1.0 0.5 0.0 2014 2015 2016 2017 2018 2019e 2020e -…
  5. 1Q 2019 Earnings Presentation – Shell Midstream Partners Lp – slide 5
    Operational Update - Onshore Zydeco Mainline Throughput Volume, kbpd Operational Highlights Offshore Onshore Terminals & Storage: Improved performance in revenue and cost 800 704 Open Season underway on Zydeco, closes May 31 661…
  6. 1Q 2019 Earnings Presentation – Shell Midstream Partners Lp – slide 6
    Sponsor Project Delivery: Falcon and Mattox Large-scale midstream projects connected to Sponsor growth priorities MATTOX PIPELINE: 90-mile deepwater export line for Appomattox Gulf of Mexico platform Mattox Pipeline complete and will…
  7. 1Q 2019 Earnings Presentation – Shell Midstream Partners Lp – slide 7
    Financial Results from Operations Three Months Ended ( million) March 31, 2019 December 31, 2018 Revenue 131 142 Cost and Expenses 66 69 Operating Income 65 73 Income from Equity Method Investments 70 74 Dividend Income 14 14…
  8. 1Q 2019 Earnings Presentation – Shell Midstream Partners Lp – slide 8
    Non-GAAP Financial Metrics Three Months Ended ( million except per unit amount) March 31, 2019 December 31, 2018 Adjusted EBITDA Attributable to SHLX (1) 170 179 Less: Net Interest and Income Taxes Paid 20 20 Maintenance Capital…
  9. 1Q 2019 Earnings Presentation – Shell Midstream Partners Lp – slide 9
    Balance Sheet and Liquidity ( million) As of March 31, 2019 Cash and Cash Equivalents 226 Total Debt Outstanding 2,091 Total Credit Facility Capacity (Inc. Zydeco) 2,990 Shell Midstream Partners 10
  10. 1Q 2019 Earnings Presentation – 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. 1Q 2019 Earnings Presentation – Shell Midstream Partners Lp – slide 11
    Shell Midstream Partners
  12. 1Q 2019 Earnings Presentation – Shell Midstream Partners Lp – slide 12
    Appendix 2 Shell Midstream Partners 14

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