First-Quarter 2020 Earnings Conference Call May 5, 2020
Prudent Capital Discipline 2020 capital spend 2020 Growth Capital Plan (Illustrative)(b) target(a) reduced by over 700 million 2.6 B Growth: Over 600 MM reduction to 900 MM 2.0 B Maintenance: 100 MM reduction 50% 25% 1.5 B 25%…
Targeting Positive Free Cash Flow Disciplined Approach and Long-term Focus 2019 The Path to Increased Cash Flow 2021 EBITDA 5.1 B(a) EBITDA Continued Growth DCF 4.1 B(a) DCF Continued Growth Distributions Growth Capital Growth…
Logistics & Storage: Earnings Diversity & Protection Logistics & Storage (L&S) 2019 MPLX EBITDA 2/3 of EBITDA Refining Logistics (RL) + Fuels Distribution (FD): 5.1 B 3.3 B 1.4 B EBITDA(a) RL fee-for-capacity FD highly stable with…
Gathering & Processing: Regions & Customers Gathering & Processing (G&P) 2019 MPLX EBITDA 1/3 of EBITDA 5.1 B 1.8 B Regional Processing MVCs(b) Marcellus 74% Other Northeast 25% Southwest 5% G&P Marcellus L&S Mid-Con 35% 34%…
Responsible Corporate Leadership Earned U.S. EPA 32 OSHA VPP sites COVID-19 support Energy STAR Including three Transport fleet moved a mobile clinic to the El Paso Airport Challenge Awards new sites in 2019: to provide medical…
First-Quarter Highlights Reported adjusted EBITDA attributable to MPLX of 1.3 billion Generated 1.0 billion in net cash provided by operating activities and reported distribution coverage of 1.44x Announced 2020 business…
Logistics & Storage Segment Pipeline throughputs averaged 5.1 MMBPD Increase of 2% year-over-year Terminalling throughputs averaged 3.0 MMBPD Decrease of 8% year-over-year MEXIC O Progressing Permian long-haul…
Gathering & Processing Segment 1Q20 Processed Volumes(a) Capacity at Utilization of 1Q20 Overall volumes and % change: End of Average Available Area Volume vs. 1Q19 Quarter (MMcf/d) Capacity (MMcf/d) (%)(b) Gathering: 5.8…
Financial and Balance Sheet Highlights As of (MM except ratio data) 3/31/20 Cash and cash equivalents 57 Total assets 37,006 Total debt(a) 20,471 Redeemable preferred units 968 Total equity 13,356 First Quarter 2020…
Appendix 14
Gathering & Processing Segment Sub-Region 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…
Organic Growth Capital Projects Logistics & Storage Segment Est. Projects Description Completion Date Mt. Airy Terminal Expansion Constructing 2nd 120 MBPD dock and incremental storage 3Q20 Utica Butane Expansion Expansion for…
Organic Growth Capital Projects Gathering & Processing Segment Est. Processing and Fractionation Shale Resource Capacity Completion Date Omega 2 Processing Plant Cana-Woodford 180 MMcf/d 2Q20 Hopedale 5 C3+ Fractionation…
Reconciliation of Adjusted EBITDA and Distributable Cash from Net Income (MM) 1Q 2020 1Q 2019 Net (loss) income (2,716) 689 (Benefit) provision for income taxes - (1) Amortization of deferred financing costs 14 7 Net interest and…
Reconciliation of Adjusted EBITDA and Distributable Cash from Net Cash Provided by Operating Activities (MM) 1Q 2020 1Q 2019 Net cash provided by operating activities 1,009 853 Changes in working capital items 112 196 All other, net…
Reconciliation of Segment Adjusted EBITDA to Net Income (MM) 1Q 2020 1Q 2019 YTD 2019 L&S segment adjusted EBITDA attributable to MPLX LP 872 828 3,351 (including predecessor results) G&P segment adjusted EBITDA attributable to…
Reconciliation of Capital Expenditures (MM) 1Q 2020 1Q 2019 Capital Expenditures Maintenance 34 37 Maintenance reimbursements (14) (7) Growth 284 467 Growth reimbursements - (5) Total capital expenditures 304 492 Less: Increase…
Reconciliation of LTM Net Income (Loss) to LTM Pro Forma adjusted EBITDA (MM) 1Q 2020 1Q 2019 LTM Net (loss) income (1,943) 1,920 LTM Net income to adjusted EBITDA adjustments 6,641 1,725 LTM Adjusted EBITDA attributable to…
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