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 equity method interests in four joint venture pipeline projects All pipelines in service with the exception of Permian Highway (1Q21) Long-haul pipe investments…
JV Pipeline Recent Developments Gulf Coast Capacity of 2.0 Bcf/d is fully subscribed under long-term, binding agreements Express Pipeline GCX continues strong performance in 1Q20 Expected in-service 1Q21 with project cost estimated…
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% by 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, matures in November…
Updates to 2020 Guidance Gathered volume outlook unchanged Currently expect 2020 Adjusted EBITDA(1) of 150 190 million 55 - 65% attributable to JV pipeline projects Adjusted EBITDA(1) for 2020 is primarily impacted by reduced…
Appendix 16
Joint Venture Pipelines Detail Gulf Coast Express EPIC Crude Permian Highway Shin Oak Product Natural Gas Crude Natural Gas NGL Operator Kinder Morgan EPIC Kinder Morgan Enterprise Products Project Cost 1.75 billion 2.4 billion…
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 and growth capital investments is useful for investors to assess Altus' expenditures related to our midstream capital activity. We…
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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