Earnings Results First Quarter 2020 April 27, 2020
Financial Positioning Liquidity No Crude Oil Exposure 258 million as of Marcellus and Utica natural gas 3/31/2020 transportation Leverage No IDRs 3.1x as of 3/31/2020 One class of common equity FCF Generation and Debt Maturity…
Capital Program Update Major Capital Projects Major expansion of SWPA gathering system Richhill Area Infrastructure now in close-out phase Pipelines Dry Ridge Station - Major construction complete 2019 projects added capacity, tiered…
Q1 2020 Results Average net daily throughput of 1,889 Bbtu/d in Q1 2020 Excluding third-party volumes under high-pressure short-haul agreements, average daily throughput of 1,595 Bbtu/d Q1 2020 Operating Results ( in millions) Q1…
2020 Guidance and Capital Allocation Update Guidance ( in millions) 2020E 2020E Updated guidance reflects potential range of shipper production deferrals from certain NGL-rich fields due to Previous Updated commodity prices and/or…
COVID-19 Response Plan Mandatory Work From Home for all office-based employees and contractors, except for Gas Control Personnel - Gas Control Personnel have been separated to different floors and locations - Multiple back up locations…
Appendix
Non-GAAP Reconciliation EBITDA and Adjusted EBITDA We define EBITDA as net income (loss) before net interest expense, depreciation and amortization, and Adjusted EBITDA as EBITDA adjusted for non-cash items which should not be included…
Non-GAAP Reconciliation ( in thousands) Three Months Ended March 31, (unaudited) 2020 2019 Net Income 45,790 34,976 Depreciation expense 7,578 5,650 Interest expense 8,793 7,339 EBITDA 62,161 47,965 Non-cash unit-based…
Non-GAAP Reconciliation ( in millions) Forecast (unaudited) 2020 Estimate Net Income 145 Depreciation expense 31 Interest expense 37 EBITDA 213 Non-cash unit-based compensation expense 3 Adjusted EBITDA 216 Less: Net income…
Non-GAAP Reconciliation ( in thousands) Twelve Months Ended (unaudited) 3/31/2020 3/31/2019 12/31/2019 Net Income 186,114 140,266 175,300 Depreciation expense 26,299 21,733 24,371 Interest expense 31,747 28,464 30,293 EBITDA…
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