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 (expected in early 2021) Long-haul…
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, with cash distributions in-line with expectations Capacity…
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 connecting…
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, maturing in November…
Near-Term Financing Plan Altus has ample funding sources to satisfy its remaining growth capital investments (primarily PHP capital calls) In 2021, retained cash flow will be directed towards debt reduction and fortifying the balance…
Updates to 2020 Guidance Gathered volume outlook remains 480 520 MMcf/d (70% rich gas) Trending towards the low end of the range due to Alpine High production curtailments in 2Q20 2020 Adjusted EBITDA(1) range adjusted to 160 190…
Updates to 2021 Guidance Gathered volumes projected to be 340 380 MMcf/d (70% rich gas) Gathered volume outlook reflects a zero rig program for 2021 at Alpine High 2021 Adjusted EBITDA(1) range of 220 260 million Over 80%…
2020 2021 Guidance Overview ADJUSTED EBITDA DISTRIBUTABLE CASH FLOW GROWTH CAPITAL INVESTMENTS (1) ( in millions) ( in millions) ( in millions) 300 200 400 180 360 260 175 350 250 50% increase 40% increase 150 300 220 150 300…
Appendix 19
Joint Venture Pipelines Detail Gulf Coast Express Permian Highway Shin Oak EPIC Crude Product Natural Gas Natural Gas NGL Crude Operator Kinder Morgan Kinder Morgan Enterprise Products EPIC Project Cost 1.75 billion 2.1 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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