Second Quarter 2019 Results August 2, 2019 www.nblmidstream.com
2Q19 and Recent Highlights In-line or Exceeded Guidance Across All Categories Delivered Net Adjusted EBITDA, and gathering volumes within guidance on Net Capital Expenditures below expectations Net Adjusted EBITDA, up 13% versus…
Second Quarter 2019 Actuals vs. Guidance Actuals 2Q Guidance 2Q v 1Q 2Q v 2Q 2Q18 1Q19 2Q19 Oil Gathered (MBbl/d) 158 228 226 217 - 227 -1% 43% Gross Volumes Gas Gathered (MMcf/d) 206 353 413 395 - 410 17% 100% MBoe/d 192 287…
Strong 1H19 Capital Performance Enhances Flexibility Lowering 2019 Organic Net Capital Budget by 23% on 1H19 Performance and Efficiency Net Development Capital Expenditures Gains MM Trending Materially Lower Sustainable Savings from…
Meaningful 2H19 Catalysts and Expected Gathering Increase 2H19 Gross Oil and Gas Throughput Anticipated up Nearly 10% and Produced Water up 22% Versus Net EBITDA 1H19 at Guidance Midpoint 150 MM 127 - 137 Supported by long-haul…
Quarterly Fluctuations from Fresh Water Segment 2Q19 Fresh Water Volumes Exceeded the High End of Guidance as Customer Activity was Higher than Anticipated Gross Fresh Water Volumes Down 19% in 2Q19 Compared to 1Q19 Reflects…
Maintain Prudent Financial Framework While Executing Opportunities Financial Focus on Maintaining Healthy Liquidity and Prudent Leverage Through Construction Period for EPIC and Delaware Crossing Investments Ended 2Q19 with liquidity…
Supporting NBLs 2019 DJ Basin Program: Mix Tailwind in 2H19 Robust Growth at Mustang Continued in 2Q19, With Oil and Gas Gathering Throughput up 41% Versus 1Q19 Supported by diversified gas outlets with delivery to 3 processing…
Third-Party Ramp at Laramie River Expected in 2H19 Laramie River Throughput Anticipated up 35% Year-over-Year 3Q19 period with most well connections Additional Third-party Gas Processing Capacity Anticipated in 3Q19 Vast…
Building Blanco River Throughput Momentum as Capital Declines Material Decline in 2019 Net Capital Requirements (MM) Blanco River Capital Down Nearly 60% in 2019 140 vs. 2018 120 Long growth runway with existing facility 100…
Meaningful Progress on Transformational EPIC Investments Interim EPIC Crude Service Online in Mid-August Via EPIC Y-Grade Pipeline Line fill almost complete and deliveries to Corpus Christi commencing in mid-August Multiple…
Continued Buildout of Delaware Intermediate Gathering Platform Trinity River Advantage Pipeline JV (50/50 JV with PAA) & Compression Trinity River Revenue (MM) 2Q19 Sequential Volume Decline Reflects Key Volume 18 16 Commitment…
Robust 2019 Financial Expectations 2019 Outlook Net Adjusted EBITDA Up Benefiting from Increasing Exposure to NBLs Onshore Program 10% to 14% Third-party Businesses Continue to Increase Net Development Capital Down Growth…
2020 Preview and Outlook Through 2022 2020 Preview Customer Activity Levels Based on Net Adjusted EBITDA (MM) Represents Conservative Oil Price Assumption of 63%+ Growth vs. 2018 50/Bbl 350-370 Expect 2020 Net Adjusted EBITDA to…
Updated 2019 Guidance Detail Quarterly Full Year 1Q19A 2Q19A 3Q19E 2018 2019E Oil Gathered (MBbl/d) 228 226 230 - 240 177 230 240 Gross Volumes Gas Gathered (MMcf/d) 353 413 425 - 445 239 415 425 Oil and Gas Gathered (MBoe/d)…
NBLX Asset Map: DJ Basin Area: Wells Ranch Colorado River DevCo (100%) Black Diamond (54.4%) Oil Gathering Laramie River DevCo (100%) Gas Gathering Oil Gathering PW Gathering FW Delivery Area: East Pony Area: Greeley Crescent…
NBLX Asset Map: Delaware Basin EPIC Crude(30%) & EPIC Y-Grade (15%) Area: Delaware Basin Dos Rios DevCo (100%) Blanco River DevCo (40%) Oil and NGL Transmission Oil Gathering Gas Gathering PW Gathering Trinity River DevCo…
NBLX Structure Noble Energy NYSE: NBL 100% 45.4% Limited Noble Midstream GP LLC Partner Interest Non-Economic General ROFR/Wholly Owned Assets: Partner Interest East Pony Gas Gathering Noble Midstream East Pony Gas Processing…
Non-GAAP Reconciliation Q3 2019E FY 2019E ( thousands) Q1 2018 Q2 2018 Q3 2018 Q4 2018 2018 Q1 2019 Q2 2019 Low High Low High Reconciliation from Net Income Net Income 39,136 44,442 48,703 56,595 188,876 63,255 53,198 57,000…
Contact Information Megan Repine 1001 Noble Energy Way Investor Relations Houston, TX 77070 megan.repinenblmidstream.com 832.639.7380 www.nblmidstream.com
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