Altus Midstream Summary Overview Commentary Simplified Structure Altus Midstream is a pure-play, Permian to Gulf Coast Public Investors Apache Corporation midstream C-corp C-corp governance / no 21%(1) 79%(1) IDRs Interests in…
Joint Venture Pipelines Overview Pipeline Map Commentary Altus owns or has the option to participate in five joint venture pipeline projects 16% of KMIs GCX (Exercised) Nat Gas 27% of KMIs Permian Highway (Exercised) 33% of…
JV Pipeline Recent Developments Gulf Coast Altus started receiving cash distributions in 4Q19, in-line with expectations Express Pipeline (Exercised) Capacity of 2.0 Bcf/d is fully subscribed under long-term, binding agreements…
Gulf Coast Express (GCX) Overview Pipeline Map Commentary Altus owns 16% of GCX, remaining ownership is 34% Kinder Morgan (Operator), 25% DCP and 25% Targa Project Statistics: Capacity: 2.0 Bcf/d In service since Sept 2019, Altus…
Permian Highway Pipeline (PHP) Overview Pipeline Map Commentary Altus owns 27% of PHP, remaining ownership is 27% Kinder Morgan (Operator), 27% EagleClaw and 20% from an undisclosed anchor shipper Designed to transport…
Shin Oak Pipeline Overview Pipeline Map Commentary Breviloba LLC owns the Shin Oak NGL Pipeline (Shin Oak) and is owned 67% by Enterprise Products Operating LLC and 33% Altus Project overview: 658 miles of 24-inch pipeline…
EPIC Crude Overview Pipeline Map Commentary Altus owns 15% of EPIC crude, remaining ownership is 45% Ares Capital (1), 30% Noble Midstream Partners and 10% Rattler Midstream The project consists of 700 miles of pipeline…
Gathering & Processing Overview Asset Map Asset Highlights Rich Gas Processing: 600 MMcf/d of capacity from three cryo trains online and in-service Cryos performing well, consistently able to run above nameplate capacity with 99%+…
State of the Art Cryogenic Processing SRX Technology The cryogenic facilities utilize SRX technology to capitalize on better recoveries in ethane rejection mode Drives improved netbacks on third-party volumes Standardized units allow…
Financial Overview 13
Financial Overview Altus has ample liquidity to execute on its 2020 and 2021 capital plans through a combination of reinvesting operating cash flow and expanded revolver capacity Revolver capacity is 800 million No need to access any…
Updated Guidance Gathered volume outlook reflects a zero rig program for 2020 at Alpine High compared to 1 rig at previous guidance Gathered volumes expected to be 480 520 MMcf/d (70% rich gas) for 2020 If Waha basis differential…
Updated Guidance, cont. ADJUSTED EBITDA DISTRIBUTABLE CASH FLOW (1) GROWTH CAPITAL INVESTMENTS (2) ( in millions) ( in millions) ( in millions) 250 150 1,800 220 130 1,621MM Actual(3) 1,500 200 120 190 1,200 135% increase…
Appendix 17
Joint Venture Pipelines Detail All equity options except regional Salt Creek NGL Line have been exercised Salt Creek option extended to March 2, 2020 Gulf Coast Permian Salt Creek EPIC Crude Shin Oak Express Highway NGL Line…
Non-GAAP Reconciliation Adjusted EBITDA & DCF The Company believes Adjusted EBITDA and DCF are useful because it allows the Company to more effectively evaluate its operating performance and compare the results of its operations from…
Non-GAAP Reconciliation Growth Capital Management believes the presentation of capital investments is useful for investors to assess Altus' expenditures related to our midstream capital activity. We define capital investments as costs…
Glossary of Terms Adjusted EBITDA is defined as net income (loss) including noncontrolling interest before financing costs (net of capitalized interest), net interest expense, income taxes, depreciation, and accretion and adjusting for…
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