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Investor Presentation – Texstar Midstream Services

Texstar Midstream Services · Jun 12, 2014 · 14 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. Investor Presentation – Texstar Midstream Services – slide 1
    Southcross and TexStar Investor Presentation June 12, 2014
  2. Investor Presentation – Texstar Midstream Services – slide 2
    Transaction Summary Southcross holding company and TexStar Midstream Services LP (TexStar) to combine and form Southcross Holdings LP (Holdings) EIG Global Energy Partners, Charlesbank Capital Partners and Tailwater Capital will…
  3. Investor Presentation – Texstar Midstream Services – slide 3
    Pro Forma Ownership Structure (Southcross Energy LLC) Financial sponsor ownership through various holding companies Southcross Holdings LP (Holdings) 100% 56% Public Unitholders Southcross Energy Partners 42% GP,…
  4. Investor Presentation – Texstar Midstream Services – slide 4
    Total Asset Overview Asset Southcross TexStar Total Processing Plant Capacity (Mcf/d) 385,000 300,000 685,000 Fractionation Facility Capacity (Bbls/d) 27,300 63,000 90,300 Pipeline (miles) 2,800 885 3,685 Forecasted capacity as…
  5. Investor Presentation – Texstar Midstream Services – slide 5
    Attractive Complementary Assets Existing Eagle Ford Footprints Southcross TexStar Processing Plant Fractionator 4
  6. Investor Presentation – Texstar Midstream Services – slide 6
    Immediate Growth for Southcross Drop-down assets from the Rich Gas System include: 300 MMcf/d cryogenic processing plant (Lone Star Plant) 230+ miles of rich natural gas gathering pipelines and residue trunklines with approximately…
  7. Investor Presentation – Texstar Midstream Services – slide 7
    Strategic Benefits of Transaction for Southcross Creation of leading Eagle Ford-focused midstream company with an integrated natural gas and NGL business Scale Significantly increases size of Southcross Enhances ability to attract…
  8. Investor Presentation – Texstar Midstream Services – slide 8
    Experienced Midstream Management Team Name / Title Years of Experience David Biegler 45+ Chairman & CEO John Bonn 30+ President & Chief Operating Officer Phil Mezey 30+ Executive Vice President J. Michael Anderson 25+ Chief Financial…
  9. Investor Presentation – Texstar Midstream Services – slide 9
    Quality Contract Mix Attractive Customer Base Drop-Down Increases Fee-Based Revenues Southcross TexStar Rich Gas System 24% 100% 76% [1] Customers include those of Southcross and Holdings [2] Southcross data for 2013…
  10. Investor Presentation – Texstar Midstream Services – slide 10
    Financing Summary Immediate drop-down acquisition for Southcross Consideration of 180 million cash and 14.633 million newly-issued PIK common units (valued at approximately 270 million) 7% distribution rate Fully-underwritten 570…
  11. Investor Presentation – Texstar Midstream Services – slide 11
    Financial Highlights Attractive and Accretive Transaction Holdings to provide additional support by foregoing subordinated unit distributions to extent necessary and available to achieve 1.0x coverage Expect to increase per unit…
  12. Investor Presentation – Texstar Midstream Services – slide 12
    Sustainable Distribution Growth Through Expected Drop-Downs Lancaster Gathering System NGL System Pro Forma Southcross Pro Forma Southcross Holdings Holdings Processing Plant Processing Plant Fractionator Fractionator 550+…
  13. Investor Presentation – Texstar Midstream Services – slide 13
    Summary Highlights Scale Significantly increases size Enhances ability to attract volumes Growth Immediate drop-down of Rich Gas assets is a significant step forward Supports sustainable growth Stability More predictable cash…
  14. Investor Presentation – Texstar Midstream Services – slide 14
    Non-GAAP Measures We believe that Adjusted EBITDA and distributable cash flow are widely accepted financial indicators of our operational performance and our ability to incur and service debt, fund capital expenditures and make…

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