DCP Midstream Snapshot DCP NYSE TICKER FORTUNE 500 500MM Record Excess FCF in 2021 NUMBER 6.4B MARKET CAP 632K AVG. 52-week TRADING VOLUME 442 1.5B AVAILABLE LIQUIDITY(3) .39 / 1.56 ANNUALIZED Ba1 / BB+ / BB+…
DCP Strategic Approach Operational Excellence and Sustainability Our vision is to be the safest, most reliable, low-cost midstream service provider Financial Execution Focused on generating significant excess free cash flow that…
Strong Portfolio of Assets and Execution Leading Midstream Provider Diversified and Balanced Earnings Mix Exposure to multiple premier basins Fully integrated wellhead to frac / storage value chain Strong fee-based earnings with…
Company Ownership Structure Baa1 / BBB+ / BBB+ (2) (NYSE:ENB) 50% 50% A3 / BBB+ / NR(2) 157.2 billion (NYSE:PSX) enterprise value (1) 48.9 billion enterprise value(1) General Public Partner Unitholders 57% Common 43% Common LP…
Fourth Quarter 2021 Earnings and 2022 Outlook 7
2021 Year in Review Highlights Adj. EBITDA Exceeded high end of financial guidance 1.3B for adjusted EBITDA, DCF, and excess FCF DCF Strong DJ and Permian G&P performance, 869MM driving value chain earnings Excess FCF Record…
Q4 Financial Results Distributable Cash Flow Leverage at (M M ) 4.1x Leverage at 3.8x Px before hedge 38 Hedge (31) Px net of hedge 7 Q4 2021 Drivers Favorable G&P margins driven by strong Permian volumes and DJ…
2022 Guidance 2022 Financial Guidance and Capital Outlook Range (MM) Adjusted EBITDA(1) 1,350 - 1,500 Distributable Cash Flow (DCF) (1)(2) 900 - 1,010 Excess Free Cash Flow(1)(3) 425 - 585 Bank Leverage(4) < 3.5x Distribution ( /…
2022 Assumptions Total Wellhead Volumes G&P Outlook North: 5 7% growth driven by DJ Basin activity Permian: 5 7% growth driven by Midland and Delaware Basin activity South: Moderate decline Midcontinent: Moderate decline No…
2022 Key Themes FUNDAMENTALS REMAIN STRONG 1 Demand strengthening with moderate supply growth Significant pricing upside at current price curves Potential for incremental ethane recovery driven by increased demand TARGETED CAPITAL…
Capital Allocation Priorities 2022 DCF Balanced - Measured - Disciplined (M M ) Debt Leverage target 3.5x in a mid cycle…
Portfolio Strength and Opportunity DJ BASIN Life of lease contracts with favorable terms Acreage dedication in rural Weld County Steady growth with potential for large scale development Increased volumes benefiting integrated value…
Key Takeaways Operational Excellence Improving reliability and asset performance while addressing regulatory and inflationary impacts Capital Allocation Strong pathway to distribution raise while further strengthening the balance…
Volumes by Segment NGL Pipeline Volume Trends and Utilization Q4'21 Q3'21 Q4'20 Q4'21 Approx Average Average Average Average System Gross Net NGL NGL NGL Length Capacity Capacity Throughput Throughput Throughput Pipeline Q4 2021 Sand…
COMMITTED TO Environmental Stewardship From 2018 to 2020 DCP has reduced Scope 1 and Scope 2 GHG emissions across our operations by approximately 16% from 16% 23% 68% our base year of 2018 through 2020. REDUCTION REDUCTION REDUCTION The…
CORPORATE Governance Sustainability Governance: 2020 Corporate Governance Highlights: DCP Board of Directors: Broad oversight of sustainability initiatives 3/8 CEO & Executive Committee: Establishment and evolution of…
COMMITTED TO OUR People Our culture is a critical component of our long-term competitive advantage. Trust Connect Inspire Solve Achieve We start with We connect with We inspire to We commit to We strive to trust because our…
Non-GAAP Reconciliations 22
Non-GAAP Reconciliations ** We define adjusted gross margin as total operating revenues, less purchases and related costs, and we define segment adjus ted gross margin for each segment as total operating revenues for that segment…
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