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3Q 2019 Earnings Presentation – MPLX Lp

MPLX Lp · Oct 31, 2019 · 20 slides

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Slides

  1. 3Q 2019 Earnings Presentation – MPLX Lp – slide 1
    Third-Quarter 2019 Earnings Conference Call October 31, 2019
  2. 3Q 2019 Earnings Presentation – MPLX Lp – slide 2
    Third-Quarter Highlights 1.3 billion adjusted EBITDA attributable to MPLX, including full quarter results of Andeavor Logistics Reported net cash provided by operating activities and DCF of 1.0 billion and, including results of…
  3. 3Q 2019 Earnings Presentation – MPLX Lp – slide 3
    Strategic Update 2020 growth capex target of approximately 2.0 billion 600 million less than prior guidance (a) Streamline capex focusing on most attractive returns Targeting approximately 75% of spend in L&S MPC announced…
  4. 3Q 2019 Earnings Presentation – MPLX Lp – slide 4
    Capturing Strategic Opportunities Creating an integrated Permian footprint to the Gulf Coast Gas Processing NGLs NGLs Fractionation 3 Long-Haul Gathering 1 Gas Pipelines Gas Export 4 1 Oil Storage Oil 2 Oil MPC Galveston Bay…
  5. 3Q 2019 Earnings Presentation – MPLX Lp – slide 5
    Logistics & Storage Segment Volumes including ANDX: Pipeline throughputs averaged 5.2 MMBPD Terminalling throughputs averaged 3.3 MMBPD Capline project proceeding Progressed Permian long-haul crude oil and natural gas pipeline…
  6. 3Q 2019 Earnings Presentation – MPLX Lp – slide 6
    Gathering & Processing Segment 3Q19 Processed Volumes(a) Legacy MPLX 3Q19 volumes (% increase): Capacity at Utilization of Average vs. 3Q18 vs. 2Q19 End of Available Area Volume Quarter Capacity Gathering: 5.3 Bcf/d 12% 7%…
  7. 3Q 2019 Earnings Presentation – MPLX Lp – slide 7
    3Q 2019 Financial Highlights Adjusted EBITDA(a) Distributable Cash Flow(a) 4,000 2018 2019 3,785 4,000 2018 2019 3,055 3,000 3,000 2,564 2,080 MM MM 2,000 2,000 1,273 937 1,027 1,000 1,000 766 0 0 3Q Year-to-Date…
  8. 3Q 2019 Earnings Presentation – MPLX Lp – slide 8
    3Q 2019 vs. 3Q 2018 Adjusted EBITDA 1,400 36 (29) 1,273 329 1,200 1,000 937 G&P 424 800 G&P MM 390 600 L&S 2Q 2018 849 400 L&S vs. 2Q 200 547 2017 0 Variance Analysis 3Q 2018 Adjusted EBITDA Attributable to…
  9. 3Q 2019 Earnings Presentation – MPLX Lp – slide 9
    3Q 2019 vs. 2Q 2019 Adjusted EBITDA 1,400 1,273 329 14 10 1,200 G&P 1,000 920 424 800 G&P MM 351 600 L&S 400 849 L&S 569 200 0 2Q 2019 Adjusted EBITDA ANDX Logistics & Storage Gathering & Processing 3Q 2019…
  10. 3Q 2019 Earnings Presentation – MPLX Lp – slide 10
    Financial and Balance Sheet Highlights As of (MM except ratio data) 9/30/19 Cash and cash equivalents 41 Total assets 41,281 Total debt(a) 19,825 Redeemable preferred units 968 Total equity 17,892 Third quarter 2019 adjusted…
  11. 3Q 2019 Earnings Presentation – MPLX Lp – slide 11
    Appendix 12
  12. 3Q 2019 Earnings Presentation – MPLX Lp – slide 12
    Gathering & Processing Segment Processed Volumes Marcellus/Utica Processed Volumes(a) Southwest Processed Volumes(a) Capacity at End Average Utilization of Capacity at End Average Utilization of Area of Quarter Volume Available Area…
  13. 3Q 2019 Earnings Presentation – MPLX Lp – slide 13
    Organic Growth Capital Projects Logistics & Storage Segment Est. Completion Projects Description Date Marine Fleet Expansion isplaces MPCs third-party barges and supports increased demand 2019 Mt. Airy Terminal Expansion…
  14. 3Q 2019 Earnings Presentation – MPLX Lp – slide 14
    Organic Growth Capital Projects Gathering & Processing Segment Est. Completion Est. Completion Processing and Fractionation Shale Resource Capacity Dates Gathering Date Through 2020 Sherwood 12 Processing Plant(b) Marcellus 200…
  15. 3Q 2019 Earnings Presentation – MPLX Lp – slide 15
    Reconciliation of Adjusted EBITDA and Distributable Cash from Net Income (MM) 3Q 2019 3Q 2018 YTD 2019 YTD 2018 Net income 689 516 2,035 1,395 Provision for income taxes 4 3 2 8 Amortization of deferred financing costs 10 14 29 45…
  16. 3Q 2019 Earnings Presentation – MPLX Lp – slide 16
    Reconciliation of Adjusted EBITDA and Distributable Cash from Net Cash Provided by Operating Activities (MM) 3Q 2019 3Q 2018 YTD 2019 YTD 2018 Net cash provided by operating activities 1,036 737 2,990 2,027 Changes in working capital…
  17. 3Q 2019 Earnings Presentation – MPLX Lp – slide 17
    Reconciliation of Segment Adjusted EBITDA to Net Income (MM) 3Q 2019 3Q 2018 YTD 2019 YTD 2018 L&S segment adjusted EBITDA attributable to MPLX LP 849 547 2,498 1,510 (including predecessor results) G&P segment adjusted EBITDA…
  18. 3Q 2019 Earnings Presentation – MPLX Lp – slide 18
    Reconciliation of Segment Adjusted EBITDA to Net Income Drop Impact YTD 2019 (MM) without Drop(a) YTD 2019 Drop L&S segment adjusted EBITDA attributable to MPLX LP 2,429 69 2,498 (including predecessor results) G&P segment…
  19. 3Q 2019 Earnings Presentation – MPLX Lp – slide 19
    Reconciliation of LTM Net Income (Loss) to LTM Pro Forma adjusted EBITDA (MM) 3Q 2019 3Q 2018 LTM Net income 2,126 1,636 LTM Net income to adjusted EBITDA adjustments 1,908 1,811 LTM Adjusted EBITDA attributable to MPLX LP 4,034…
  20. 3Q 2019 Earnings Presentation – MPLX Lp – slide 20
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