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Citi MLP Midstream Infrastructure Conference – DCP Midstream LP

DCP Midstream LP · Aug 8, 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. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 1
    Investor Presentation
  2. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 2
    Compelling Investor Value Proposition Integrated midstream business with geographically diverse premier asset base DIVERSIFIED Broad NGL pipeline footprint with unparalleled access to fractionators along the Gulf Coast, PORTFOLIO OF…
  3. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 3
    Diversified Portfolio of Assets in Premier Basins One of the largest U.S. NGL producers and gas processors Leading Integrated Midstream Provider Integrated Logistics & Marketing and Gathering & Processing business providing…
  4. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 4
    Transformational Journey 2010* Strategy Execution 2019+ Extending Logistics & Marketing Value Chain Strategically Growing Gathering & Processing Opportunistic consolidation/ right sizing the portfolio DCP 2.0 transformation…
  5. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 5
    Extending the Value Chain Disciplined capital allocation strategy focused on strong returns and efficiency 2019 OConnor 2 plant in-service Processing 2019 OConnor 2 bypass 2020 DJ processing offload PROCESSING 2019 Front Range and…
  6. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 6
    Long-Term Strategy Meeting customer needs through diverse and fully integrated value chain DJ DJ Basin G&P Addressing G&P, NGL and gas takeaway via Mewbourn 3, OConnor 2, DJ Processing Southern Hills Offload, Front Range/Texas…
  7. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 7
    Expanding Integrated Leading DJ Basin Footprint Solving G&P, NGL and gas takeaway for our producers into the next decade OConnor 2 200 MMcf/d plant in-service August G&P 2019; up to 100 MMcf/d bypass expected in- Expansion service…
  8. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 8
    Expanding DJ Processing Capacity Expanding total DJ Basin processing, bypass, and offload capacity to 1.7 Bcf/d (1) ADDING UP TO 225 MMCF/D Executed accretive long-term offload agreement with Western Midstream Partners to provide up to…
  9. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 9
    Expanding Permian Logistics Footprint Extending Logistics value chain with fee-based projects Sand Hills leverages the entire Permian with lower risk and higher returns Increased capacity to 500 MBpd in Q1 2019, increasing volumes…
  10. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 10
    Extending Logistics Value Chain via Sweeny Option to expand DCPs fractionation network into Sweeny Hub in partnership with Phillips 66 Connecting growing NGL production from key basins to Gulf Coast Extending value chain into…
  11. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 11
    DCP 2.0: Driving the Operations of the Future Integrated Collaboration Center (ICC) Linking Numerous Data Sources SCADA Financial Real-Time Engineering KPIs Contracts and DCS Data Prices Data Integrated Collaboration Center…
  12. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 12
    Summary of Investment Highlights Proven track record of delivering on commitments sets foundation for continued disciplined growth and strong strategy execution Extending Integrated Value Chain Integrated Midstream Actively…
  13. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 13
    Segment Overviews 14
  14. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 14
    Logistics and Marketing Overview The Logistics & Marketing segment is fee based and includes NGL pipelines, DCP Logistics Assets gas pipelines, marketing, storage and fractionators. The NGL pipelines and Guadalupe comprise a…
  15. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 15
    NGL Pipeline Customers Customer centric NGL pipeline takeaway providing open access to premier demand markets along the Gulf Coast and at Mont Belvieu Legend: DCP operated Third party operated Southern Hills Connects to 2.6…
  16. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 16
    Gathering and Processing Overview North Assets Permian Assets Midcontinent Assets South Assets Asset type Fractionator & Plant Natural Gas Plant NGL Pipeline Natural Gas Pipeline DJ Basin Permian SCOOP/STACK Eagle Ford 10…
  17. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 17
    Strong Producer Customers in Key Basins DJ Basin (North) Midcontinent Permian South Sweeny Volume and margin portfolio supported by long term agreements with diverse high quality producers in key producing regions 18
  18. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 18
    Financial Information 19
  19. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 19
    Financial Position and Risk Management Ample Liquidity Solid Coverage Strong Leverage 1.4 1.28x(1) 3.7x(2) Billion Ample liquidity with 1.4 billion Funding portion of growth with excess S&P rating upgraded to BB+, Stable…
  20. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 20
    2019 Gross Margin, Sensitivities and Hedges Investments in fee-based growth coupled with hedging program provides downside protection on commodity exposed margin 2019 Adjusted Gross Margin 2019 Annual Commodity Sensitivities Before…
  21. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 21
    2019 Guidance Adjusted EBITDA ( in Millions) 1,092 1,215 DCF ( in Millions) 750 1,017 684 643 19% ( in Millions) 17% Adjusted EBITDA(1) 1,145 - 1,285 2017 2018 2019e(4) 2017 2018 2019e (4) (1)(2) Distributable Cash Flow…
  22. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 22
    Appendix 23
  23. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 23
    Disciplined and Strategic Growth Executing strategic, lower risk growth projects at 5-7x target multiples with line of sight to fast volume ramp growing fee-based earnings Projects in Progress Est. Expected (MM net to DCPs interest)…
  24. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 24
    Ownership Structure Large, Supportive Owners A3 / BBB+ / NR(1) Baa2 / BBB+ / BBB+(1) (NYSE:PSX) (NYSE:ENB) 55 billion 130 billion enterprise enterprise value(2) value(2) DCP Midstream, LLC (owner of GP) 50% 50% 36.1% Common LP…
  25. Citi MLP Midstream Infrastructure Conference – DCP Midstream LP – slide 25
    Awards and Recognition 1ST PLACE CEO AWARD 2018 COMPANY SAFETY FOR COMPANY SERVICE AWARD FOR DIVISION I IN 2018 GPA Midstream recognizes DCP Midstream GPA Midstream recognizes DCP Midstream for outstanding safety performance. for…

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