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3Q 2019 Earnings Results – CNX Midstream Partners

CNX Midstream Partners · Oct 29, 2019 · 11 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. 3Q 2019 Earnings Results – CNX Midstream Partners – slide 1
    Earnings Results Third Quarter 2019 October 29, 2019
  2. 3Q 2019 Earnings Results – CNX Midstream Partners – slide 2
    Q3 2019 Results Average net daily throughput of 1,754 Bbtu/d in Q3 2019; up 1.4% compared to Q2 2019 - Excluding third-party volumes under high-pressure short-haul agreements, average daily throughput of 1,485 Bbtu/d; down 4.6%…
  3. 3Q 2019 Earnings Results – CNX Midstream Partners – slide 3
    Guidance Update Full-Year 2019-2020 Guidance Update 2020E Guidance ( in millions) 2019E 2019E 2020E 2020E Despite a lower volume Previous Updated Previous Updated range compared to the previous guidance, Adjusted Throughput…
  4. 3Q 2019 Earnings Results – CNX Midstream Partners – slide 4
    2019 Capital Program Update 2019 Capital Expenditure Ramp Driving Expansion 2019E Major Capital Projects of SWPA Gathering System 2019 major capital projects nearing construction completion Morris Station Upgrade Richhill Area -…
  5. 3Q 2019 Earnings Results – CNX Midstream Partners – slide 5
    Minimum Well and Volume Commitments Support Distribution Agreement Time Period & Activity Commitment Total Amounts to roughly one new Commitments Min. Volume Shirley-Penns MVC 2018 2019 2020 2021 2022 2023 pad per year…
  6. 3Q 2019 Earnings Results – CNX Midstream Partners – slide 6
    CNXM DevCo Overview and Organizational Structure DevCo I NYSE: CNX CPA 100% SWPA Central CNX Gathering LLC Shirley- 33.4% LP Interest Pennsboro 100% CNX Midstream GP LLC DevCo III The General Partner Public Airport…
  7. 3Q 2019 Earnings Results – CNX Midstream Partners – slide 7
    Appendix
  8. 3Q 2019 Earnings Results – CNX Midstream Partners – slide 8
    Non-GAAP Reconciliation EBITDA and Adjusted EBITDA We define EBITDA as net income (loss) before net interest expense, depreciation and amortization, and Adjusted EBITDA as EBITDA adjusted for non-cash items which should not be included…
  9. 3Q 2019 Earnings Results – CNX Midstream Partners – slide 9
    Non-GAAP Reconciliation ( in thousands) Three Months Ended September 30, (unaudited) 2019 2018 Net Income 43,665 33,575 Depreciation expense 6,184 5,306 Interest expense 7,601 7,255 EBITDA 57,450 46,136 Non-cash unit-based…
  10. 3Q 2019 Earnings Results – CNX Midstream Partners – slide 10
    Non-GAAP Reconciliation ( in millions) Forecast Forecast (unaudited) 2019 2020 Estimate Estimate Net Income 168 194 Depreciation expense 26 29 Interest expense 33 43 EBITDA 227 266 Non-cash unit-based compensation expense 3 3…
  11. 3Q 2019 Earnings Results – CNX Midstream Partners – slide 11
    Non-GAAP Reconciliation ( in thousands) Twelve Months Ended (unaudited) 9/30/2019 9/30/2018 12/31/2018 Net Income 166,537 135,164 138,995 Depreciation expense 23,028 22,322 21,939 Interest expense 29,376 18,064 23,614 EBITDA…

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