Strategic Adaptation and Focus Multi-Year Strategic Health and Safety Operational Execution Priority Excellence Now fully-integrated and Protecting our Safe, reliable, efficient, majority fee-based, while employees, and compliant…
Supporting All Stakeholders during COVID-19 Employees Customers Communities Executing Pandemic Response Executing Business Continuity Upholding funding Plan to ensure health and Plan to ensure safe and quality commitments to national…
Strength via Diversification and Transformation Basins Cash Flows Customers Wellhead Volume Q1 2020 Adjusted EBITDA 2010 vs. 2019 Top 50 Customers, 74% IG(2) East Texas Other 7% 6% Marketer DJ Basin 18% Diversity of Eagle Ford…
2020 Mitigating Actions TODAY April WTI 17(2) Costs 890MM (9%) Workforce reduction Capital(1) 210MM (70%) Additional sustaining capital savings Additional 50MM of Headcount 1,900 (15%) Executive compensation reductions Savings…
Q1 Financial Results & Highlights Strong results driven by solid volumes and proactive cost and sustaining capital reductions, demonstrating resilience and adaptability Distributable Cash Flow (1)(2) (MM) 46 22 17 220 5 175 (1)…
Updated 2020 Financial Outlook Managing dynamic environment by preparing for broad variety of scenarios 2020 Revised Outlook 2020e Revised Sensitivities Before Hedge After Hedges Impact Hedges (MM) 2020 2020 Variance Commodity Per…
Liquidity and Financial Position 600 million of current liquidity, expected to increase throughout the year Revolving credit facility 1.4 billion unsecured revolving credit facility backed by 16 leading Liquidity global financial…
Positioned to Succeed Effective Risk Management Protects Cash Flows Robust COVID-19 response to ensure healthy workforce and safe, reliable operations Majority fee-based and 37% of equity length hedged for 2020 High utilization rates…
Appendix Financial and Other Supporting Slides 12
Margin by Segment* MM, except per unit measures Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019 Gathering & Processing (G&P) Segment Natural gas wellhead - Bcf/d 4.94 5.00 4.96 4.87 4.94 (1) Segment gross margin including equity earnings…
Q1 2019 vs. Q1 2020 Financial Results Commodity price declines partially offset by lower costs and higher segment margins Distributable Cash Flow (MM) 36 22 15 224 10 220 (78) (9) Q1 2019 Price Net Financing / Sustaining…
Adjusted EBITDA by Segment Logistics & Marketing Adjusted EBITDA* (MM) 28 1 3 (7) 208 183 Q1 2019 Other Margin Gas and NGL Costs NGL and Gas Q1 2020 Adjusted EBITDA Marketing Pipelines Adjusted EBITDA Gathering &…
Volumes by Segment Logistics Pipeline Volume Trends and Utilization Q1'19 Q4'19 Q1'20 Q1'20 Q1 2020 Southern Approx Average Gross Average NGL Average NGL Average NGL System Capacity Net Capacity Throughput Throughput Throughput…
2020 and 2021 Hedges Hedge Position as of 5/1/2020 Commodity Q1 2020 Q2 2020 Q3 2020 Q4 2020 2020 Avg. 2021 Avg. NGLs hedged (Bbls/d) 10,352 10,352 10,239 10,239 10,295 4,241 Total Equity Length Hedged(2) Targeted average hedge…
Managing Counterparty Risk Customer Ratings(1) Customer Types Other 6% B- to BB+ Producer 26% Marketer 22% 18% A- to A+ 36% Refiner / Petrochem 20% Midstream 24% BBB-, BBB, BBB+ Utility 38% 10% Top 50 customer base,…
Capital Allocation Focusing capital allocation priorities on strengthening the balance sheet Growth Capital Outlook ( in Millions) Financial Priorities De-emphasize Reduce Organic Leverage Growth 856 887 -83% Maintain…
Disciplined and Strategic Growth Projects in Progress Est. 100% Total Est. Expected (MM net to DCPs interest for JVs) Capacity CapEx (MM) In-Service Gathering & Processing WES Processing Offload Long-term gas processing offload…
Non-GAAP Reconciliations 21
Non-GAAP Reconciliations Three Months Ended March 31, ( in millions) 2020 2019 Logistics and Marketing Segment Segment net income attributable to partners 236 147 Operating and maintenance expense 7 9 Depreciation and…
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