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…
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…
Strategic Execution 2010* 2019+ Extending Logistics & Marketing Value Chain Strategically Growing Gathering & Processing Opportunistic consolidation/ right sizing the portfolio DCP 2.0 transformation through people, process &…
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…
Long-Term Strategy 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 Express, DJ Southern Hills extension, and Cheyenne Midcontinent Connector…
Expanding Premier 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 2019; up to 100 MMcf/d bypass expected in- G&P service by Q3 2019. Expansion…
Expanding DJ Processing Capacity Expanding total DJ Basin processing, bypass, and offload capacity to 1.7 Bcf/d (1) ADDING 225 MMCF/D Executed accretive long-term offload agreement with Western Midstream Partners to provide 225 MMcf/d…
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…
Extending Logistics Value Chain via Sweeny Option to expand DCPs fractionation network into Sweeny Hub in partnership with Phillips 66 Strategically extending value chain into Gulf Coast linking customers to growing PetChem market…
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…
DCP 2.0 13
DCP 2.0 Driving the Operations of the Future DCP 2.0 Strategic Objectives 1 2 3 Achieve Real-Time Digitally Enable the Business Increase Cash Flow While Optimization & Decision and Workforce Diminishing Risk Making Utilize…
ICC and Remote Operations Integrated Collaboration Center (ICC) Linking Numerous Data Sources SCADA Financial Real-Time Engineering KPIs Contracts and DCS Data Prices Data Integrated Collaboration Center Remote Operations…
Segment Overviews 16
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 significant…
NGL Pipeline Customers Customer centric NGL pipeline takeaway providing open access to premier demand markets along the Gulf Coast and Mont Belvieu Legend: DCP operated Third party operated Southern Hills Connects to 2.6 Bcf/d…
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…
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 regions 20
Financial Information 21
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…
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…
2019 Guidance Adjusted EBITDA ( in Millions) 1,092 1,215 DCF ( in Millions) 750 Self-funding a portion of growth no 1,017 684 643 planned common equity issuances for 19% 17% fifth consecutive year ( in Millions) 2017 2018…
Appendix 25
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)…
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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