NGL Energy Partners LP Investor Presentation February 2020
Business Overview Provides services for the transportation, treatment, processing, and disposal of produced water and solids generated from oil and natural gas production Water recycling expertise, history of cleaning produced water…
Business Diversity Water Solutions Crude Logistics Liquids and Marketing Water Volumes, Crude Oil Butane Blending Primary Drivers: Rig Count and Production and and Export, Crude Oil Price Transportation/ Weather and NGL…
Business Strategy Transport crude oil from the wellhead to refiners Build a Diversified Transport produced water from the wellhead to disposal facility for treatment, recycle or discharge Vertically Integrated Energy Business Natural…
Balance Sheet Management Review NGLs Transformation Segments & Assets as of December 31, 2016 - 5 Diversified Business Units 1) Refined Products/Renewables (38%) 2) Liquids (20%) 3) Retail Propane (19%) 4) Water Solutions (13%) 5) Crude…
Water Solutions Segment Overview 7
Water Solutions Platform Our Water Solutions segment provides services for the treatment and disposal of produced water generated from crude oil and natural gas production and for the disposal of solids such as tank bottoms, drilling…
Delaware Basin SWD NGL has 62 active Salt Water Disposal Facilities & Facilities 119 active Disposal Wells & 32 Facilities in Texas and 30 in New Mexico Disposal NGL has 1 Solids Disposal Facility in-service at its Wells Orla…
Water Solutions Financial Overview Segment Adjusted EBITDA FY 2020 Forecast Assumptions 300 Primary growth focused in the Delaware Basin (New Mexico) 240 - 250 Blended disposal rate of 0.60/bbl and operating expense of 250 0.40/bbl…
Crude Logistics Platform Our Crude Oil Logistics segment purchases crude oil from producers and transports it to refineries or for resale at pipeline injection stations, storage terminals, barge loading facilities, rail facilities, and…
Grand Mesa Pipeline 550 miles of 20 Crude oil pipeline from the DJ Basin to Cushing, OK Grand Mesa Share NGL/Grand Mesa have 37.5% undivided joint interest DJ of Capacity 150,000 BPD capacity Basin Lucerne & Riverside Terminals in…
Crude Oil Logistics Financial Overview Segment Adjusted EBITDA FY 2020 Forecast Assumptions 250 Grand Mesa Pipeline 215 - 220 Total volumes average 129kbpd 200 181 Assume 3% increase to rates per FERC oil pipeline index starting July…
Liquids and Marketing Platform Our Liquids segment provides natural gas liquids procurement, storage, transportation, and supply services to customers through assets owned by us and third parties. We also sell butanes and natural…
Liquids and Marketing Financial Overview Segment Adjusted EBITDA FY 2020 Forecast Assumptions 160 Propane/Butane Wholesale 140 134 Assumes a normal winter for volume and pricing 125 115 - 120 Fee-based business makes up 10%-15% of…
Financial Overview 17
Financial Objectives The Partnership has made significant strides in reducing total debt and will look to maintain a flexible balance sheet with a leverage Strong Balance target of less than 4.00x on a total leverage basis Sheet Goal…
Credit Profile (2) Debt Maturities as of 12/31/19 (In Millions) Debt & Preferred Equity Balances as of 12/31/19 1,600 1,392 (In Thousands) 1,200 12/31/2019 9/30/2019 800 Debt 607 389 450 Expansion Capital Borrowings 945,000…
3rd Quarter Update Segment Summary Quarterly Summary Performance (s In Millions) Crude Oil Logistics performed in line with expectations primarily due to strong results Dec-19 Dec-18 Variance(%) from Grand Mesa as the pipeline…
Key Investment Highlights Multiple business segments with significant geographic diversity reduce cash flow volatility Diversified and Presence in the highest rate of return oil & gas producing regions in North America as well as the…
Appendix 23
NGL Organizational Chart Members 100% 128,348,906 C.U. Outstanding NGL Energy Holdings LLC Limited Partners G.P. (DE LLC) 0.1% GP Interest 99.9% LP Interest IDRs NGL Energy Partners LP (NYSE: NGL) (DE LP) 100% NGL…
3Q20 Adjusted EBITDA & DCF Walk Three Months Ended December 31, Nine Months Ended December 31, 2019 2018 2019 2018 (in thousands) (in thousands) Net income (loss) 42,991 110,528 (150,336) 296,178 Less: Net loss attributable to…
3Q20 & 3Q19 Adjusted EBITDA by Segment Three Months Ended December 31, 2019 Discontinued Operations (TPSL, Refined Products Corporate and Continuing Mid-Con, Gas Crude Oil Logistics Water Solutions Liquids and Renewables Other…
3Q20 YTD & 3Q19 YTD Adjusted EBITDA by Segment Nine Months Ended December 31, 2019 Discontinued Operations (TPSL, Refined Products Corporate and Continuing Mid-Con, Gas Crude Oil Logistics Water Solutions Liquids and Renewables…
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