ET KEY INVESTMENT HIGHLIGHTS 4 ? Stable cash flow profile with minimal contract rolloffs ? Healthy and improving balance sheet ? Increased retained cash flow with ~$2.5 – $3.0 billion per year of distribution coverage expected…
WHAT’S NEW Recent Developments Consistent Growth With Strong Financial/Operational Performance Improved Financial Position WHAT’S NEW 5 ? Transforming key financial metrics ? Moody’s revised Energy Transfer Operating, L.P. (“ETO”)…
2019 OUTLOOK Growth Capital: ~$5 billion 1 Energy Transfer Operating Segments Note: Capital by segment percentages are based on mid-point of company estimates. See Q1 2019 Form 10-Q for information on capital estimates Segment1…
SIGNIFICANT GEOGRAPHIC FOOTPRINT ACROSS THE FAMILY Recently In-service & Announced Asset Overview Growth Projects Lake Charles LNG Dakota Access Pipeline ETCO Pipeline Comanche Trail Pipeline Trans-Pecos Pipeline Bayou Bridge…
A TRULY UNIQUE FRANCHISE 8 Transport ~24 million mmbtu/d of natural gas Fractionate ~678,000 bbls/d of NGLs at Mont Belvieu Gather ~ 12.7 million mmbtu/d of gas & 563,000 bbls/d of NGLs produced Transport ~4.5 million…
DIVERSIFIED EARNINGS MIX WITH PRIMARILY FEE-BASED BUSINESSSegment1 Contract Structure Strength Interstate Transport & Storage Fees based on reserved capacity, regardless of usage Connected to all major U.S. supply basins and…
EXPOSURE TO MAJOR PRODUCING REGIONS 10 Source: Wells Fargo, November 2018 0 5 10 15 Number of regions with either transportation, gathering or processing assets Anadarko/Hugoton, Bakken/Williston, Barnett, Bossier, Cotton Valley,…
FULLY INTEGRATED PLATFORM SPANNING THE ENTIRE MIDSTREAM VALUE CHAIN 11 ? Involvement in Major Midstream Themes Across the Best Basins and Logistics Hubs Franchise Strengths Intrastate Natural Gas T&S Midstream Crude Oil NGL &…
FULLY INTEGRATED SERVICES BY REGION 12 Permian Basin MidCon/Panhandle Eagle Ford/SE Texas Ark-La-Tex North Texas Marcellus/Utica ET Services By Region Midstream Natural Gas Liquids Crude Interstate Intrastate
ET ASSETS ALIGNED WITH MAJOR U.S. DRILLING REGIONS 13 ET’s gas and crude gathering assets are located in counties where ~70% of total U.S. rigs are currently drilling ET Rig Count Vs. Total US Rig Count¹ ET Rig Count¹ Vs. Lower 48 US…
FULLY INTEGRATED MIDSTREAM/LIQUIDS PLATFORM ACROSS NORTH AMERICA 14 The ability to integrate an end-to-end liquids solution will better serve customers and alleviate bottlenecks currently faced by producers Refined Products/NGL…
GROWING UNIQUE EXPORT CAPABILITIES Nederland Terminal • ~1,200 acre site on USGC • ~1.5 million bbls/d crude export capacity; 200 thousand bbls propane/butane export capacity • ~28 million bbls crude storage capacity; 1.2 million…
RENEWED COMMITMENT TO DEVELOP LAKE CHARLES LNG EXPORT TERMINAL Executed Project Framework Agreement in March 2019 • Issued Invitation to Tender (ITT) to U.S. and International consortia to bid for EPC contract in May 2019 • Final…
COMPELLING VALUE PROPOSITION EV/2019 EBITDA
ORGANIC GROWTH ENHANCES OUR STRONG FOOTHOLD IN THE MOST PROLIFIC PRODUCING BASINS 19 * Growth project under development (1) Joint venture. 2007 Expanded Godley Plant to 400 MMcf/d 2008 Expanded Godley Plant to 600 MMcf/d Eight 36”…
ET PROJECTS PROVIDE VISIBILITY FOR FUTURE EBITDA GROWTH ET has a significant number of growth projects coming online that will Rover Phase II contribute incremental cash flows Lone Star Frac V Rebel II Processing Plant Red Bluff…
FORESEE SIGNIFICANT EBITDA GROWTH IN 2019 FROM COMPLETION OF PROJECT BACKLOG PROJECT SCOPE IN-SERVICE TIMING NGL & Refined Products Lone Star Frac V Additional 120 Mbpd fractionator at Mont Belvieu complex In Service July 2018 Lone…
CRUDE OIL SEGMENT – BAKKEN PIPELINE PROJECT Dakota Access Pipeline connects Bakken production to Patoka Hub, IL, with interconnection to Energy Transfer Crude Oil Pipeline (Trunkline conversion) to reach Nederland and the Gulf Coast…
CRUDE OIL SEGMENT – PERMIAN EXPRESS PROJECTS Permian Crude Projects Permian Express 3 Expected to provide Midland & Delaware Basin producers new crude oil takeaway capacity (utilizing existing pipelines) from this rapidly growing…
CRUDE OIL SEGMENT – BAYOU BRIDGE PIPELINE Joint venture between Phillips 66 Partners (40%) and ET (60%, operator) ? 30” Nederland to Lake Charles segment went into service in April 2016 ? 24” St. James segment began commercial…
NGL & REFINED PRODUCTS SEGMENT – MARINER EAST SYSTEM A comprehensive Marcellus Shale solution reaching local, regional and international markets ? Transports Natural Gas Liquids from OH / Western PA to the Marcus Hook Industrial…
NGL & REFINED PRODUCTS SEGMENT – NORTHEAST GROWTH OUTLOOK Growth in rich gas drives Appalachian NGLs production
NGL & REFINED PRODUCTS SEGMENT – FAVORABLE NETBACKS WITH MARINER EAST Producer C3+ netbacks (via Marcus Hook) are expected to be significantly higher than other domestic outlets
? Announced Orbit Joint Venture with Satellite Petrochemical USA Corp to construct new ethane export terminal on the U.S. Gulf Coast to provide ethane to Satellite ? At the terminal, Orbit plans to construct ? 800,000 barrel…
NGL & REFINED PRODUCTS SEGMENT – PIPELINE AND FRACTIONATION EXPANSION 29 ETP Justice Storage Mont Belvieu Fractionation and Storage Lone Star West Texas Gateway ETP Spirit ETP Freedom Plant Existing Lone Star Lone Star Express…
Processing Expansions • 600 mmcf/d of processing capacity online in 2016 and 2017 • 200 mmcf/d Arrowhead II processing plant went into service at end of October 2018; running full today • 200 MMcf/d Arrowhead III in the Delaware…
MIDSTREAM SEGMENT – REVOLUTION SYSTEM System is located in Pennsylvania’s Marcellus/Upper Devonian Shale rich-gas area ? Rich-gas, complete solution system ? Currently 20 miles of 16” in-service ? Build out assets will include: •…
INTERSTATE SEGMENT – MARCELLUS/UTICA ROVER PIPELINE Project Details Rover Project Map ? Sourcing natural gas from the Marcellus and Utica shales ? Connectivity to numerous markets in the U.S. and Canada • Midwest: Panhandle Eastern…
ET ORGANIZATIONAL STRUCTURE 34 ENERGY TRANSFER LP (formerly Energy Transfer Equity, L.P.) (NYSE: ET) LNG Export Project 100% Interest Non-economic GP Interest 47.8% Interest 100% Non-Economic GP Interest 100% IDRs 34.5%…
CRUDE OIL SEGMENT 35 ? Crude truck fleet of approximately 370 trucks ? Purchase crude at the wellhead from ~3,000 producers in bulk from aggregators at major pipeline interconnections and trading locations ? Marketing crude oil to…
CRUDE OIL SEGMENT – PERMIAN EXPRESS PARTNERS 36 ? Strategic joint venture with ExxonMobil (ET owns ~87.7% and is the operator) ? Combines key crude oil pipeline network of both companies and aligns ET’s Permian takeaway assets with…
NGL & REFINED PRODUCTS SEGMENT 37 NGL Storage Fractionation NGL Pipeline Transportation Refined Products Mariner Franchise ? ~2,200 miles of refined products pipelines in the northeast, Midwest and southwest US markets ? 35 refined…
MIDSTREAM ASSETS 38 More than 40,000 miles of gathering pipelines with ~ 7.9 Bcf/d of processing capacity PA WV OH MD Midstream Highlights ? Volume growth in key regions: • Q1 2019 gathered volumes were ~12.7 million mmbtu/d, and…
INTERSTATE PIPELINE ASSETS 39 PEPL TGC TW FGT SR FEP Tiger MEP Gulf States Rover Total Miles of Pipeline 6,402 2,231 2,614 5,344 785 185 197 512 10 713 18,993 Capacity (Bcf/d) 2.8 0.9 2.1 3.4 2.0 2.0 2.4 1.8 0.1 3.25 20.75 Owned…
INTRASTATE PIPELINE ASSETS 40 • ~ 9,400 miles of intrastate pipelines • ~21 Bcf/d of throughput capacity Intrastate Asset Map Intrastate Highlights ? Continue to expect volumes to Mexico to grow, particularly with the startup of…
INTRASTATE SEGMENT – MEXICO (CFE) 41 Waha Header System ? 6 Bcf/d Header System ? Will connect to: • Trans-Pecos & Comanche Trail Pipelines • ET’s vast interstate and intrastate pipeline network • Multiple 3rd party pipelines…
ET NON-GAAP FINANCIAL MEASURES
ETO NON-GAAP FINANCIAL MEASURES 43 Segment Margin is a non-GAAP financial measure and is presented herein to assist in the analysis of segment operating results and particularly to facilitate an understanding of the impacts that…
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