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EnerCom Oil and Gas Conference – Core Energy

Core Energy · Aug 13, 2019 · 21 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. EnerCom Oil and Gas Conference – Core Energy – slide 1
    EnerComs The Oil & Gas Conference Dave Schulte, President, Chairman and CEO August 13, 2019 1
  2. EnerCom Oil and Gas Conference – Core Energy – slide 2
    Disclaimer This presentation contains certain statements that may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements,…
  3. EnerCom Oil and Gas Conference – Core Energy – slide 3
    Infrastructure assets have desirable investment characteristics Infrastructure REIT Strategy Overview Infrastructure assets are essential for our customers operations to produce revenue CorEnergys triple-net leases and other contracts…
  4. EnerCom Oil and Gas Conference – Core Energy – slide 4
    Energy infrastructure is utility-like 2 1 OFFSHORE PLATFORM REIT qualifying assets include wires, pipes, storage and offshore platforms (Yellow flags represent assets currently owned or previously owned by CORR)…
  5. EnerCom Oil and Gas Conference – Core Energy – slide 5
    Portfolio of essential assets CorEnergy assets critically support our partners in conducting their businesses in the U.S. energy industry Purchase Type Asset Description Price Location Pinedale Liquids Liquids gathering, processing…
  6. EnerCom Oil and Gas Conference – Core Energy – slide 6
    Increasing opportunities for CorEnergys pipeline Oil and gas companies are: limiting activity based on operational cash flow employing creative alternative financing U.S. Rig Count1 Where are producers planning to source capital in…
  7. EnerCom Oil and Gas Conference – Core Energy – slide 7
    Convertible Debt Offering Extended Maturities and Enhanced Liquidity On August 7, 2019, CORR announced and priced a Senior Convertible Note offering under a private placement 100 million offering, with an initial purchasers option for…
  8. EnerCom Oil and Gas Conference – Core Energy – slide 8
    Durable revenues + low leverage = dividend stability Lease payments produce predictable cash flows Assets are critical to tenant revenue production Lease expense is an operating cost (not a financing cost) Lease payments have been…
  9. EnerCom Oil and Gas Conference – Core Energy – slide 9
    APPENDIX 9
  10. EnerCom Oil and Gas Conference – Core Energy – slide 10
    CorEnergy Senior Management Dave Schulte Rick Green Chairman, Chief Executive Officer & President Chairman Emeritus Mr. Schulte has over 25 years of investment experience, Mr. Green has spent more than 30 years in the energy industry,…
  11. EnerCom Oil and Gas Conference – Core Energy – slide 11
    Pinedale Liquids Gathering System 228 million asset critical to operation of Ultra Petroleums Pinedale, Wyoming natural gas field 150 miles of pipeline, over 100 receipt points, 4 separation and storage facilities Triple-net operating…
  12. EnerCom Oil and Gas Conference – Core Energy – slide 12
    Grand Isle Gathering System 245 million midstream infrastructure asset on the Gulf of Mexico Shelf critical to Cox Oil operations (Cox acquired Energy XXI in October 2018) Essential system to transport crude oil and produced water for…
  13. EnerCom Oil and Gas Conference – Core Energy – slide 13
    MoGas and Omega Pipelines 125 million interstate natural gas pipeline operated by CorEnergy owned subsidiary 263-mile pipeline connecting natural gas supply to St. Louis area and 17 smaller Missouri utilities, municipalities and…
  14. EnerCom Oil and Gas Conference – Core Energy – slide 14
    Energy Infrastructure Investment Vehicles Direct Investment Indirect / Investment Companies Closed End RIC-Structured Exchange- REITs C-Corporation Direct MLP Fund / Mutual Fund Traded Note Fund / ETF Regulated Tax Real Estate…
  15. EnerCom Oil and Gas Conference – Core Energy – slide 15
    Differentiated and larger investor audience for REITs than MLPs Utility & REIT markets are larger and more institutional than MLP MLPs Midstream C-Corps REITs Utilities CorEnergy Market Cap: 275bn(1) Market Cap: 160bn(1)(2) Market…
  16. EnerCom Oil and Gas Conference – Core Energy – slide 16
    CORR has pioneered broad access to deep capital markets 161,000,000 41,000,000 Bank Debt Revolving Line of Project Level Debt for Credit Pinedale LGS Lead Banks: Prudential Financial July 2017 December 2012 56,300,000…
  17. EnerCom Oil and Gas Conference – Core Energy – slide 17
    Terminal value conviction Grand Isle Pinedale LGS MoGas Pipeline Omega Pipeline Gathering System Long-lived assets, critical to Ownership Criteria tenant operations Asset High barriers to entry with strategic…
  18. EnerCom Oil and Gas Conference – Core Energy – slide 18
    Corporate structure alignment with investors Corporate Structure External Fee Structure Management Fee Management Agreement Services provided: Assets Fees Presents the Company with suitable acquisition opportunities, responsible…
  19. EnerCom Oil and Gas Conference – Core Energy – slide 19
    Non-GAAP Financial Metrics: FFO/AFFO Reconciliation For the Three Months Ended June 30, 2019 June 30, 2018 Net Income attributable to CorEnergy Stockholders 9,824,926 7,810,849 Less: Preferred Dividend Requirements 2,313,780…
  20. EnerCom Oil and Gas Conference – Core Energy – slide 20
    Non-GAAP Financial Metrics: FFO/AFFO Reconciliation (cont.) For the Three Months Ended June 30, 2019 June 30, 2018 Add: Transaction costs 88,611 24,615 Amortization of debt issuance costs 281,630 353,637 Amortization of deferred…
  21. EnerCom Oil and Gas Conference – Core Energy – slide 21
    21

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