Skip to main content June 2020 Investor Presentation – Enterprise Products Partners LP | Shale Experts
Loading...
Pm

June 2020 Investor Presentation – Enterprise Products Partners LP

Enterprise Products Partners LP · Jun 18, 2020 · 42 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 1
    INVESTOR DECK June 2020
  2. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 2
    Enterprise Products Partners L.P. (NYSE:EPD) NGLs, Crude Oil, Natural Gas, Petrochemicals and Refined Products 50,000 miles of NGL, crude oil, natural 22 natural gas processing facilities; Fully integrated gas, petrochemicals and…
  3. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 3
    Navigating Current Environment COVID-19 Driven Cycle Global Demand Change(1) COVID-19 and economic shutdowns reduced crude oil demand 2020 avg. by 7 MMBPD OPEC+ responded: planning incremental production cuts of 4 MMBPD to 38 MMBPD…
  4. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 4
    FUNDAMENTALS
  5. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 5
    U.S. Rig Count Total Rig Count 1,200 1,059 1,054 1,076 1,059 1,048 993 1,006 984 958 947 946 1,000 940 940 923 860 802 790 800 728 600 465 400 301 279 200 0 6/30/17 9/30/17 12/31/17 3/31/18 6/30/18 9/30/18 12/31/18…
  6. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 6
    U.S. Crude and Condensate Supply Forecast Step Change in Crude Price Impacts Production Outlook 16 15 14 13 MMBPD 12 Completions would have to increase 260% to 1,380/month in 1Q 2021 to meet Jan-20 trajectory 11…
  7. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 7
    U.S. NGL Supply Forecast NGL Production Similarly Impacted by Drop in Crude Prices 8.0 7.0 Oil completions would have to increase MMBPD 6.0 260% to 1,380/month in 1Q 2021 to meet Jan-20 trajectory* shut-ins back on…
  8. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 8
    U.S. Natural Gas Supply Forecast Approximately 60% of U.S. Gas Production is Associated 120 110 Oil completions would have to increase 260% to 1,380/month in 1Q 2021 100 to meet Jan-20 trajectory* JAN 20 FORECAST Bcf/d…
  9. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 9
    Oil Market is Expected to Tighten in 2021 and 2022 Annual averages in MMBPD 2019 2020 2021 Crude Supply change vs. '19 U.S. Production* 12.04 (0.66) (1.25) OPEC+ 42.12 (4.24) (4.00) Others: Venezuela / Libya / Iran 4.25 (1.18)…
  10. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 10
    U.S. Waterborne Exports Continue to Rise Crude Exports Increased 24% YTD Compared to 2019 Average 2020 U.S. Crude Oil Exports 3.5 3.0 2.5 2.0 MMBPD 1.5 1.0 0.5 0.0 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Houston…
  11. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 11
    U.S. Waterborne Exports Continue to Rise NGL Exports Increased 22% YTD Waterborne NGL Exports from the U.S. 1.7 MMBPD 2.0 1.4 MMBPD 1.8 1.6 1.4 1.2 MMBPD 1.0 0.8 0.6 0.4 0.2 0.0 Jan-19 Feb-19 Mar-19 Apr-19…
  12. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 12
    Enterprise Facility Exports Remain Steady Exports at Enterprise Facilities 2.5 2.0 1.5 MMBPD 1.0 0.5 0.0 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20…
  13. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 13
    Human Development Index United Nations Development Programme (UNDP) UNDP HUMAN DEVELOPMENT INDEX (HDI) UNDP began HDI measurement in 1990 HDI captures human progress in terms of peoples health, education and income in one number…
  14. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 14
    Human Development Index Significant Gains Since 1990 Population by HDI category 1990 global population: 5.3 billion 8,000 7,000 20% 62% were in the Low category of Population in MMs 6,000 5,000 10% human development 4,000…
  15. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 15
    Energy is Essential for HDI Improvement 1.075 Sweden Canada 0.975 U.S. Very High Human Development Index (HDI) U.S. .92 0.875 Norway High Finland 0.775 CHINA .76 (2018) Vs. .50 (1990) 0.675 CHINA Medium INDIA .65 (2018)…
  16. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 16
    Perspective on the Global Energy Transition Energy demand will continue to grow for the foreseeable future driven by non-OECD countries, principally developing economies in Asia and Africa While growing applications for wind and solar…
  17. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 17
    Liquid Hydrocarbons Demand Continues to Grow Forecasting Growth for at Least 20+ Years Before Plateauing Global Primary Energy Consumption An all of the above energy approach will be required for power generation Projected…
  18. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 18
    FINANCIAL UPDATE
  19. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 19
    Why Enterprise Diversification: Market Capitalization: Highest credit rating in 21 consecutive Geographic, Products 47B midstream energy space: years of and Markets Enterprise Value: BBB+ / Baa1 distribution 76B TTM March 20…
  20. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 20
    Enterprise 2020 Financial Status Capital Expenditure Updates Deferred and/or reduced 2020 growth capital forecast by 1B Revised 2020 growth capital forecast: 2.53 billion Currently, forecasting 2021 and 2022 growth capital of 2.5B and…
  21. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 21
    Durability of the Business Reduce Risk Through a Focus on Quality Quality Earnings(1) Quality Customers 2019 GOM 9.0 8.3B 2019 Top 200 Customers* 2019 Top 10 Customers* 8.0 10% HY / Not Rated 5% 7.0 4% LC LC 13% 4% 6.0 HY /…
  22. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 22
    1Q 2020 Financial Results PDH Midland Terminal Mont Belvieu Fracs Houston Ship Channel Total Gross Operating Margin* (GOM) 1Q 2020 2.0B Gross Operating Margin TTM March 2020 Total GOM Trailing 12 Months 1Q 2020 8.2B NatGas…
  23. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 23
    CAPITAL PROJECTS
  24. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 24
    Capital Projects Under Construction Highlighted Major Capital Projects Fcst In-Service Major Capital Projects Under Construction Mont Belvieu Area Fractionators 10 & 11 In serv. & 3Q 2020 Natural Gas Liquids Texas Express & Front…
  25. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 25
    Natural Gas Liquids Existing Footprint and Expansion Projects Existing Assets Expected Capacity Additions 22 natural gas processing facilities Mont Belvieu area fractionator 11.4 Bcf/d gross capacity 3Q 2020 forecast in-service 19,900…
  26. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 26
    Crude Oil Existing Footprint and Expansion Projects Existing Assets Expected Capacity Additions 5,300 miles of pipelines Midland-to-ECHO 3 pipeline 3 MMBPD of gross capacity 3Q 2020 forecast in-service Adds 450 MBPD 71 MMBbls of…
  27. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 27
    Natural Gas Existing Footprint and Expansion Projects Existing Assets 19,400 miles of pipelines 22.2 Bcf/d gross capacity o 11.8 Bcf/d gathering & 10.4 Bcf/d intrastate 2.0 Bcf/d natural gas treating 14.2 Bcf/d storage Expected…
  28. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 28
    Petrochemical Midstream & Refined Products Existing Footprint and Expansion Projects Petrochemical Midstream Existing Assets 800 miles of petrochemical pipelines 7 Propylene fractionators 116 MBPD gross capacity 1 PDH; 25 MBPD gross…
  29. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 29
    APPENDIX
  30. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 30
    Strengthening Debt Portfolio Extending Maturities Without Increasing Costs 30.9 Billion Notes Issued 99.2% Fixed Rate Debt 2010March 2020 (as of March 31, 2020) 21.0 6.5% 20.0 20.2 6.0% 9.4% 19.0 Average Maturity Years…
  31. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 31
    Funding Growth with Financial Discipline 8.0 7.8 4.6 4.4x 4.5x 7.0 6.2 4.1x 6.0 4.2x (1) 4.x Net Debt / Adjusted EBITDA 3.8x 2.5 5.0 in Billions 3.5x 3.5x 4.1 3.5x 4.0 3.7 0.2 3.3x (3) 3.3x 4.2 3.1 3.9 3.7 1.0…
  32. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 32
    Indicative Attribution of Gross Operating Margin 9.0 8.3B 8.0 10% 7.3B 4% 7.0 8% Gross Operating Margin in Billions 6% 6.0 5.7B 5.2B 6% 5% 5.0 5% 4% 4.0 86% 86% fee-based fee-based 3.0 89% fee-based 91% 2.0B 2.0…
  33. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 33
    Indicative Attribution of Segment GOM 1Q 2020 100% 12% 16% 13% 3% 80% 10% % Breakout of GOM 60% 100%* 88% fee-based 40% fee-based 84% 74% fee-based fee-based 20% 0% (1) (2) (3) NGL Segment Crude Segment Natural…
  34. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 34
    Indicative Attribution of GOM for Select Businesses Natural Gas Processing GOM 600 0.50 500 Mostly Pioneer, 500 Meeker and 0.40 South Texas 400 GOM in SMillions 356 0.30 Price Spread 300 244 0.20 200 169 57% 70%…
  35. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 35
    Indicative Attribution of Gross Operating Margin Slides 3335 attribute gross operating margin (GOM) among fee-based, commodity-based and differential-based business activities. Most activities fit easily into one category; however, the…
  36. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 36
    Definitions Return on Invested Capital (ROIC) is calculated by dividing non-GAAP gross operating margin for the assets (the numerator) by the average historical cost of the underlying assets (the denominator). The average historical…
  37. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 37
    NON-GAAP RECONCILIATIONS
  38. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 38
    Distributable Cash Flow We measure cash available for distribution by reference to distributable cash flow (DCF). DCF is a quantitative standard used by the investment community for evaluating publicly traded partnerships since the value…
  39. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 39
    Gross Operating Margin We evaluate segment performance based on our financial measure of gross operating margin (GOM). GOM is an important performance measure of the core profitability of our operations and forms the basis of our…
  40. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 40
    Free Cash Flow Free cash flow (FCF) is a traditional cash flow metric that is widely used by investors and other participants in the financial community. In general, FCF is a measure of how much cash flow a business generates during a…
  41. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 41
    Adjusted EBITDA Adjusted EBITDA is commonly used as a supplemental financial measure by our management and external users of our financial statements, such as investors, commercial banks, research analysts and rating agencies, to…
  42. June 2020 Investor Presentation – Enterprise Products Partners LP – slide 42
    Investor Relations Contact Information Randy Burkhalter Vice President, Investor Relations (713) 381-6812 rburkhaltereprod.com Jackie Richert Senior Director, Investor Relations (713) 381-3920 jmricherteprod.com Libby Strait…

From the store

Browse maps, data & reports in the Shale Experts store