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JP Morgan Energy Conference – Phillips 66

Phillips 66 · Jun 18, 2019 · 25 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. JP Morgan Energy Conference – Phillips 66 – slide 1
    Freeport Terminal LPG Facility FREEPORT, TX June 2019 J.P. MORGAN ENERGY CONFERENCE Greg C. Garland Chairman and Chief Executive Officer 1 phillips66.com NYSE: PSX
  2. JP Morgan Energy Conference – Phillips 66 – slide 2
    EXECUTING THE STRATEGY OPERATING EXCELLENCE Safe and reliable operations Technology driven cost efficiencies Beaumont Terminal NEDERLAND, TX GROWTH Pipelines from key shale basins to the USGC Crude export capability NGL value…
  3. JP Morgan Energy Conference – Phillips 66 – slide 3
    OPERATING EXCELLENCE TOTAL RECORDABLE RATES REFINING CRUDE CAPACITY UTILIZATION Incidents per 200,000 Hours Worked Phillips 66 CPChem DCP Midstream 96% 1.15 95% 95% 1.03 Industry Average 94% .86 .83 93% .79 .74 .76 .66…
  4. JP Morgan Energy Conference – Phillips 66 – slide 4
    ENVIRONMENTAL, SOCIAL, GOVERNANCE INDUSTRY SAFETY METRICS Board engaged in setting company ESG strategy Incidents per 200,000 hours worked 6 Independent lead director 4 Extensive ESG engagement 2 Industry leading safety…
  5. JP Morgan Energy Conference – Phillips 66 – slide 5
    GROWING OUR INTEGRATED PORTFOLIO 6 phillips66.com NYSE: PSX
  6. JP Morgan Energy Conference – Phillips 66 – slide 6
    M I D S T R E AM AN D C H E M I C AL S G R O W T H 7 phillips66.com NYSE: PSX
  7. JP Morgan Energy Conference – Phillips 66 – slide 7
    PSXP GRAY OAK PIPELINE / SOUTH TEXAS GATEWAY TERMINAL Gray Oak Pipeline Crude oil pipeline from the Permian and Eagle Ford to the Texas Gulf Coast Expected in service 4Q 2019 900 MBD crude capacity 42.25% PSXP ownership…
  8. JP Morgan Energy Conference – Phillips 66 – slide 8
    S W E E N Y H U B E X P AN S I O N Pasadena Terminal PetChem Market Access to key demand centers including Freeport, Mont Mont Belvieu Belvieu and Corpus Christi Hub C5+ Ethane All Products Sand Hills & Other Y-Grade NGL…
  9. JP Morgan Energy Conference – Phillips 66 – slide 9
    L I B E R T Y AN D R E D O AK P I P E L I N E S Liberty Pipeline Crude oil pipeline from the Rockies and Bakken to Cushing, Oklahoma Initial service expected early 2021 24-inch pipeline 50% PSX ownership Red Oak Pipeline…
  10. JP Morgan Energy Conference – Phillips 66 – slide 10
    ENHANCING RETURNS IN REFINING AND MARKETING Central Corridor 515 MBD West Coast Atlantic 364 MBD Basin/Europe 537 MBD Gulf Coast 11 phillips66.com NYSE: PSX As of January 1, 2019 764 MBD
  11. JP Morgan Energy Conference – Phillips 66 – slide 11
    REFINING PORTFOLIO COMPETITIVENESS DISTILLATE PRODUCTION High distillate yield % TOTAL THROUGHPUT 38.2% Industry leading coking capacity and 37.9% 37.0% 34.0% 32.0% heavy crude processing capability PSX Comparison is to…
  12. JP Morgan Energy Conference – Phillips 66 – slide 12
    REFINING RETURN PROJECTS Borger diesel recovery (3Q19) Adds 25 MBD distillate production Humber diesel yield improvement (3Q19) San Francisco coker feed segregation (3Q19) Reduces HSFO production by 35 MBD Wood River crude…
  13. JP Morgan Energy Conference – Phillips 66 – slide 13
    MARKETING: ENHANCING THE BRANDS U.S. Reimaged 2,900 sites since 2015 Reimaging 1,800 sites in 2019 5,000+ sites implementing mobile pay Europe / U.K. Low-cost high-volume model Built on brand image, reputation, and…
  14. JP Morgan Energy Conference – Phillips 66 – slide 14
    RENEWABLE DIESEL Leverage existing infrastructure, supply network and capabilities Co-processing used cooking oil at Humber Refinery Partnership with Ryze Renewables Renewable diesel plant at Ferndale Refinery with…
  15. JP Morgan Energy Conference – Phillips 66 – slide 15
    ADJUSTED EBITDA AND CASH GENERATION ADJUSTED EBITDA PSX CASH FROM OPERATIONS B B 7.6 10.1 9.8 8.6 6.0 7.9 5.7 7.5 5.9 4.3 4.7 3.5 3.6 3.0 12 13 14 15 16 17 18 12 13 14 15 16 17 18 Midstream Chemicals Refining…
  16. JP Morgan Energy Conference – Phillips 66 – slide 16
    DISCIPLINED CAPITAL ALLOCATION Fund sustaining capital to maintain asset integrity SOURCES AND USES OF CASH B 1 Committed to a secure, competitive and growing dividend 1.6 Investing in growth projects with attractive returns…
  17. JP Morgan Energy Conference – Phillips 66 – slide 17
    TOTAL SHAREHOLDER RETURN 340% PSX +219% 300% Peers +119% 260% S&P 100 +134% 220% 180% 140% 100% 60% 20% -20% May-12 May-13 May-14 May-15 May-16 May-17 May-18 Jun-19 May-19 18 phillips66.com NYSE: PSX…
  18. JP Morgan Energy Conference – Phillips 66 – slide 18
    S AF E T Y. H O N O R . C O M M I T M E N T. Freeport Terminal LPG Facility FREEPORT, TX phillips66.com NYSE: PSX
  19. JP Morgan Energy Conference – Phillips 66 – slide 19
    FOOTNOTES General Information disclosed is as of December 31 unless otherwise noted. Mid-Cycle CFO is defined as 2014-2017 average operating cash flow plus run-rate operating cash flow from growth projects coming online in 2017 and…
  20. JP Morgan Energy Conference – Phillips 66 – slide 20
    N O N - G A A P R E C O N C I L I AT I O N ( S L I D E 1 6 ) Millions of Dollars 2012 2013 2014 2015 2016 2017 2018 Reconciliation of Phillips 66 Net Income to Adjusted EBITDA Phillips 66 net income 4,131 3,743 4,797 4,280 1,644…
  21. JP Morgan Energy Conference – Phillips 66 – slide 21
    N O N - G A A P R E C O N C I L I AT I O N ( S L I D E 1 6 ) Millions of Dollars 2012 2013 2014 2015 2016 2017 2018 Reconciliation of Midstream Pre-Tax Income to Adjusted EBITDA Midstream pre-tax income 89 751 851 147 402 638 1,181…
  22. JP Morgan Energy Conference – Phillips 66 – slide 22
    N O N - G A A P R E C O N C I L I AT I O N ( S L I D E 1 6 ) Millions of Dollars 2012 2013 2014 2015 2016 2017 2018 Reconciliation of Chemicals Pre-Tax Income to Adjusted EBITDA Chemicals pre-tax income 1,189 1,361 1,632 1,315 839…
  23. JP Morgan Energy Conference – Phillips 66 – slide 23
    N O N - G A A P R E C O N C I L I AT I O N ( S L I D E 1 6 ) Millions of Dollars 2012 2013 2014 2015 2016 2017 2018 Reconciliation of Refining Pre-Tax Income to Adjusted EBITDA Refining pre-tax income 5,090 2,782 2,467 3,659 436…
  24. JP Morgan Energy Conference – Phillips 66 – slide 24
    N O N - G A A P R E C O N C I L I AT I O N ( S L I D E 1 6 ) Millions of Dollars 2012 2013 2014 2015 2016 2017 2018 Reconciliation of Marketing and Specialties Pre-Tax Income to Adjusted EBITDA Marketing and Specialties pre-tax…
  25. JP Morgan Energy Conference – Phillips 66 – slide 25
    N O N - G A A P R E C O N C I L I AT I O N ( S L I D E 1 6 ) Millions of Dollars 2012 2013 2014 2015 2016 2017 2018 Reconciliation of Corporate and Other Pre-Tax Loss to Adjusted EBITDA Corporate and Other pre-tax loss (675) (695)…

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