QUARTERLY REPORT FIRST QUARTER 2020 RESULTS May 7, 2020 FOCUS ON PEOPLE STRIVE FOR EXCELLENCE BE ETHICAL DELIVER RESULTS BE GOOD STEWARDS
INDEX Strategic Overview & Response to Recent Events ...4 First Quarter 2020 Results.....9 2020 Outlook.................13 Appendix...............20 FOCUS ON PEOPLE STRIVE FOR EXCELLENCE BE ETHICAL DELIVER RESULTS BE GOOD…
LARGE, INTEGRATED MIDSTREAM PLATFORM Premier production basins connected to key demand centers --------------------------- Our Footprint --------------------------- Permian Louisiana Oklahoma North TX ------------- Service Type…
ADAPTING TO NEW BUSINESS CLIMATE Preserving financial strength and positioning for the future Reduce Costs Quickly adapting to current market conditions Acting decisively to reduce costs across platform and right-size the structure…
DECISIVE ACTIONS TO PRESERVE CASH FLOW 1Q20 actions support approximately 600MM of cash savings Our Execution Plan 1Q20 Actions to Preserve Cash Flow Maintaining Financial Strength 100MM1 operational and G&A 600MM cost savings for…
COVID-19 RESPONSE: PRIORITIZING SAFETY & RELIABILITY Business continuity plan enacted to ensure safety and uninterrupted operations Quickly enacted plans and protocols that protect the health and safety employees, partners and…
ENHANCED SUSTAINABILITY REPORTING 2019 sustainability report available at www.enlink.com/sustainability Board-approved report highlights sustainability initiatives at EnLink and provides enhanced, transparent reporting, including 3…
FIRST QUARTER 2020 RESULTS
FIRST QUARTER 2020 FINANCIAL RESULTS Delivering robust cash flow and maintaining financial strength MM, unless noted 1Q20 Recent Updates Solid Quarterly Adjusted EBITDA Net (Loss)1 (260) Adjusted EBITDA strength driven by diversity 260…
SEGMENT PROFIT OVERVIEW Generating significant cash flows across diversified geographies and services Segment Profit Highlights Segment (MM) 1Q19 2Q19 3Q19 4Q19 1Q20 (1Q20 vs 4Q19) Permian Gas 27.8 27.2 28.3 30.4 27.9 Permian…
FIRST QUARTER 2020 CAPITAL EXPENDITURES Continuing to execute key projects while reducing overall capital spending Capital Expenditures1 Capital Spending by Project Type1 Capital Spending by Region1 (MM) Net to EnLink (MM) Net to…
2020 Outlook
2020 FINANCIAL OUTLOOK Generating excess free cash flow and preserving balance sheet strength MM, unless noted 2020 Outlook Expected to drive strong Adj EBITDA Operating assets expected to generate over Net (Loss)1 (123) (222) 950MM…
2020 SEGMENT OUTLOOK Assumptions and Key Drivers for Remainder of 2020 Tiger plant on track and proceeding as expected; online 2H20 Significantly lower assumptions for producer well completion activity PERMIAN Key drivers: commodity…
CAPITAL INVESTMENT OUTLOOK Flexing capital in tandem with customer activity 2020 Total Capital Expenditures, Net to EnLink Capital Expenditures, Net to EnLink (MM) 190MM 250MM Further flexibility in 2020 budget to adjust spending 700…
STRONG AND DIVERSE COUNTERPARTIES Strong Counterparty Credit Ratings Top 10 Counterparties Limited Price Exposure (% of 1Q20 Revenues) (% of 1Q20 Revenues) (Contract Types as % of 1Q20 Gross Margin) % of Credit Rating Industry…
LEADING INTEGRATED MIDSTREAM PLATFORM Preserving financial strength and positioning for recovery Leading Fortune 500 company Integrated Delivering growth in the Permian Midstream Attractive long-term opportunities along the Gulf Coast…
Appendix
MIDLAND PLATFORM Midland Overview Multi-commodity strategy 510 MMcf/d Midland Basin processing capacity as of the end of 1Q20: o 5 processing facilities in operation o Riptide expansion project completed in 1Q20 increasing…
DELAWARE PLATFORM Delaware Overview Multi-commodity strategy 575 MMcf/d Delaware Basin operating processing capacity expected in 2020: o 1 processing facility in operation today with 375 MMcf/d capacity o Incremental 200…
LOUISIANA PLATFORM Louisiana Overview Positioned to supply growing demand market 5 Gulf Coast fractionators o 200 Mbbl/d of fractionation capacity in Louisiana o 56 Mbbl/d of fractionation capacity in Mont Belvieu 710 MMcf/d…
CENTRAL OKLAHOMA PLATFORM Central Oklahoma Overview Size, Scale & Diversification Operating 1.2 Bcf/d of Central Oklahoma gas processing capacity to support STACK development 2,000 miles of pipeline EnLink Midstream 1Q 2020…
NORTH TEXAS PLATFORM North Texas Overview Anchor position in the Barnett 1.1 Bcf/d operating natural gas processing capacity o 2 operating natural gas processing facilities 15 Mbbl/d of fractionation capacity 4,200 miles of…
ENLINK ORGANIZATIONAL STRUCTURE Public ENLC Global Infrastructure Holders Partners (GIP) Non-economic managing interest 48% 41% EnLink Midstream Class C Unitholders1 Manager, LLC 11% non- economic interest EnLink Midstream,…
QUARTERLY SEGMENT PROFIT & VOLUMES Three Months Ended amounts in millions unless otherwise noted Mar. 31, 2019 Jun. 30, 2019 Sept. 30, 2019 Dec. 31, 2019 Mar. 31, 2020 Permian Segment Profit 38.6 33.4 36.3 37.2 32.3 Gross Operating…
RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO EXCESS FREE CASH FLOW OF ENLC Three Months Ended (All amounts in millions) 3/31/2019 6/30/2019 9/30/2019 12/31/2019 3/31/2020 Net cash provided by operating activities…
RECONCILIATION OF NET INCOME (LOSS) TO EXCESS FREE CASH FLOW OF ENLC Three Months Ended (All amounts in millions) 3/31/2019 6/30/2019 9/30/2019 12/31/2019 3/31/2020 Net income (loss) (134.8) 9.1 37.5 (911.4) (260.4) Interest…
RECONCILIATION OF ENLCS OPERATING INCOME (LOSS) TO GROSS OPERATING MARGIN OF ENLC (All amounts in millions) Q1 2020 Permian North Texas Oklahoma Louisiana Corporate Totals Operating loss (245.5) General and administrative expenses…
RECONCILIATION OF ENLCS OPERATING INCOME (LOSS) TO GROSS OPERATING MARGIN OF ENLC Q1 2019 Permian North Texas Oklahoma Louisiana Corporate Totals Operating loss (88.7) General and administrative expenses 51.4 Depreciation and…
FORWARD LOOKING RECONCILIATION OF NET INCOME TO EXCESS FREE CASH FLOW OF ENLC Revised 2020 Outlook (1) (All amounts in millions) Low Midpoint High Net loss of EnLink Midstream, LLC (2) (222) (172) (123) Interest expense, net of…
NON-GAAP FINANCIAL INFORMATION, OTHER DEFINITIONS, AND NOTES (CONT.) Other definitions and explanations of terms used in this presentation: 1. ENLK Series B Preferred Units means Series B Cumulative Convertible Preferred Units of EnLink…
ENLINK.COM FOCUS ON PEOPLE STRIVE FOR EXCELLENCE BE ETHICAL DELIVER RESULTS BE GOOD STEWARDS
Loading...
