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2Q 2019 Earnings Presentation – Semgroup Corporation

Semgroup Corporation · Aug 9, 2019 · 20 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. 2Q 2019 Earnings Presentation – Semgroup Corporation – slide 1
    Second Quarter 2019 Financial Results August 8, 2019
  2. 2Q 2019 Earnings Presentation – Semgroup Corporation – slide 2
    Second Quarter 2019 Results August 8, 2019 Second Quarter In-Line, Growth Outlook On Track 2Q earnings in-line with expectations 28% volume growth quarter over quarter in Canada segment processing volumes 7% increase in segment…
  3. 2Q 2019 Earnings Presentation – Semgroup Corporation – slide 3
    Second Quarter 2019 Results August 8, 2019 Well-Positioned in North American Liquids Corridor Canada Capture value of growing Canadian crude supplies seeking access to US markets, especially Gulf Coast refiner Goal Provide…
  4. 2Q 2019 Earnings Presentation – Semgroup Corporation – slide 4
    Second Quarter 2019 Results August 8, 2019 Unique Canadian Super System Footprint Service Offering Next Steps Primed to Serve Growing Condensate Production Sour Gas Solution Liquids Fractionation Gathering & Processing Storage…
  5. 2Q 2019 Earnings Presentation – Semgroup Corporation – slide 5
    Second Quarter 2019 Results August 8, 2019 Portfolio Transformation Driving Secure Cash Flows GROWTH IN THE U.S. LIQUIDS SEGMENT DELIVERING CONTRACTED ASSET DEPENDENT CASH FLOWS Strategy Commercial Execution Highlights and…
  6. 2Q 2019 Earnings Presentation – Semgroup Corporation – slide 6
    Second Quarter 2019 Results August 8, 2019 Second Quarter 2019 Consolidated Results Key Financial Metrics Trend 2Q18 3Q18 4Q18 1Q19 2Q19 (USD in millions, except per share) Net Income (loss) (2.7) 8.4 3.0 (3.3) (12.9) Adjusted…
  7. 2Q 2019 Earnings Presentation – Semgroup Corporation – slide 7
    Second Quarter 2019 Results August 8, 2019 Second Quarter 2019 Consolidated Results Segment Profit Trend 2Q18 3Q18 4Q18 1Q19 2Q19 (USD in millions) U.S. Liquids 80.4 75.5 85.5 89.5 85.2 U.S. Gas 15.4 19.8 17.6 12.1 11.0 Canada…
  8. 2Q 2019 Earnings Presentation – Semgroup Corporation – slide 8
    Second Quarter 2019 Results August 8, 2019 U.S. Liquids Segment Update Segment Profit Key Highlights White Cliffs uncommitted crude rate increased 25% to 2.20 bbl effective beginning of 3Q19 USD in millions Re-contracted 20k…
  9. 2Q 2019 Earnings Presentation – Semgroup Corporation – slide 9
    Second Quarter 2019 Results August 8, 2019 U.S. Gas Segment Update Segment Profit Key Highlights Lower residue and NGL prices drive lower product margin Higher STACK volumes (lower margin) due to increased USD in millions…
  10. 2Q 2019 Earnings Presentation – Semgroup Corporation – slide 10
    Second Quarter 2019 Results August 8, 2019 Canada Segment Update Segment Profit Key Highlights Full quarter contributions and ramping volumes from Patterson Creek and Wapiti gas plants drive 2Q growth USD in millions…
  11. 2Q 2019 Earnings Presentation – Semgroup Corporation – slide 11
    Second Quarter 2019 Results August 8, 2019 2019 Strategic Goals and Priorities KAPS liquids pipeline 70% contracted, long-term, take-or-pay commitments White Cliffs NGL conversion started in early May Commercialization & White…
  12. 2Q 2019 Earnings Presentation – Semgroup Corporation – slide 12
    Second Quarter 2019 Results August 8, 2019 Appendix 14
  13. 2Q 2019 Earnings Presentation – Semgroup Corporation – slide 13
    Second Quarter 2019 Results August 8, 2019 Operational Summary Key Asset Volumes 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 U.S. Liquids (1) White Cliffs Pipeline Volumes (mbpd) 107 135 112 144 147 106 (2) Cushing Terminal Utilization 98%…
  14. 2Q 2019 Earnings Presentation – Semgroup Corporation – slide 14
    Second Quarter 2019 Results August 8, 2019 Leverage and Liquidity (USD in millions, unaudited) Interest Rate 6/30/2019 Revolving Credit Facility - 1.0 billion due 2021 Senior unsecured notes due 2022 5.625% 400 Senior unsecured…
  15. 2Q 2019 Earnings Presentation – Semgroup Corporation – slide 15
    Second Quarter 2019 Results August 8, 2019 Consolidated Balance Sheets (in thousands, unaudited, condensed) June 30, December 31, 2019 2018 ASSETS Current assets 1,043,362 715,825 Property, plant and equipment, net 3,886,438…
  16. 2Q 2019 Earnings Presentation – Semgroup Corporation – slide 16
    Second Quarter 2019 Results August 8, 2019 Consolidated Statements of Operations and Comprehensive Income (Loss) (in thousands, except per share amounts, unaudited, condensed) 2019 2018 1Q 2Q YTD 1Q 2Q 3Q 4Q FY2018 Revenues…
  17. 2Q 2019 Earnings Presentation – Semgroup Corporation – slide 17
    Second Quarter 2019 Results August 8, 2019 Segment Profit and Adjusted EBITDA (in thousands, unaudited) 2019 2018 Segment Profit: 1Q 2Q YTD 1Q 2Q 3Q 4Q FY2018 U.S. Liquids 89,511 85,189 174,700 68,056 80,393 75,500 85,474…
  18. 2Q 2019 Earnings Presentation – Semgroup Corporation – slide 18
    Second Quarter 2019 Results August 8, 2019 Non-GAAP Adjusted EBITDA Calculation (in thousands, unaudited) 2019 2018 Reconciliation of net income to Adjusted EBITDA: 1Q 2Q YTD 1Q 2Q 3Q 4Q FY2018 Net income (loss) (3,314) (12,898)…
  19. 2Q 2019 Earnings Presentation – Semgroup Corporation – slide 19
    Second Quarter 2019 Results August 8, 2019 Reconciliation of Operating Income to Total Segment Profit (in thousands, unaudited) 2019 2018 1Q 2Q YTD 1Q 2Q 3Q 4Q FY2018 Operating income 27,465 17,591 45,056 34,853 31,346 39,699…
  20. 2Q 2019 Earnings Presentation – Semgroup Corporation – slide 20
    Second Quarter 2019 Results August 8, 2019 Cash Available for Dividends (in thousands, unaudited) 2019 2018 1Q 2Q YTD 1Q 2Q 3Q 4Q FY2018 Adjusted EBITDA 102,990 105,487 208,477 93,371 99,010 96,451 105,352 394,184 Less: Cash…

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