Non-GAAP Financial Information This presentation contains non-generally accepted accounting principle financial measures that EnLink Midstream refers to as adjusted EBITDA, gross operating margin, growth capital expenditures and…
Formation of EnLink Midstream Devon Energy Corporation (Devon or DVN), Crosstex Energy, Inc. (XTXI) and Crosstex Energy, L.P. (XTEX, and together with XTXI, Crosstex) closed contribution and merger agreements involving Crosstexs…
Organizational Structure Devon Energy Corp. Public NYSE: DVN Unitholders (BBB+ / Baa1) 70% 30% EnLink Midstream, LLC EnLink GP owns General Partner a 50% interest in 52% 40% the assets NYSE: ENLC LP LP contributed by 1%…
Proven Management Track Record EnLink Midstream management team is comprised of former Crosstex senior management and other experienced midstream leaders Management Team Experience Barry Davis is President and Chief Executive…
EnLink Midstream Investment Considerations Substantial Scale and Scope Strategically Strong Balance Located and Sheet and Credit Complementary Profile Assets Proven Management Diverse, Fee- Track Record & Based Cash…
Substantial Size & Scope Gas Gathering and Transportation PA 7,300 miles of gathering and OH transmission lines MARCELLUS CANA-WOODFORD OK Gas Processing UTICA 12 plants with 3.3 Bcf/d of total net inlet capacity ARKOMA-…
Strategically Located & Complementary Assets Significant cost synergy potential In addition to substantial financing and G&A savings, EnLink Midstream expects to realize significant operational savings Majority of operational…
Diverse, Fee-Based Cash Flows Upstream Producers EnLink Midstream Services Span the Energy Value Chain Gas Gathering & Processing Gas Barge and Rail Transportation Logistics Transporters Crude & Condensate Condensate…
Diverse, Fee-Based Cash Flows Devon will be EnLink Midstreams largest customer (50% of consolidated 2014E adjusted EBITDA*) EnLink Midstreams growth projects focused on crude/NGL services and rich gas processing Strong emphasis on…
EnLink Midstream Growth Strategy EnLink Midstream is ideally positioned for growth EnLink Midstreams Four Avenues for Growth: Organic Growth Opportunities backlog of growth projects at Crosstexs legacy assets; potential expansions…
Growth Avenue: Organic Opportunities Cajun-Sibon Expansion 139-mile pipeline from NGL supply hub in Mont Belvieu to NGL fractionation assets in South LA Supported by long-term, fee-based sales agreements with Dow Hydrocarbons and…
Growth Avenue: Organic Opportunities Bearkat Project Builds on success of Deadwood joint venture with Apache, which was Processing Plant on-time, on budget and is near full capacity Fractionator 210MM investment for gas gathering…
Growth Avenue: Dropdown Opportunities EnLink Midstream plans to drop down the following assets from the GP to the MLP E2 Assets in Utica Access Pipeline System EnLink Midstream is a 93% owner of three condensate compression and…
Growth Avenue: Significant Sponsor Support from Devon Devons Upstream Portfolio & Devon has dedicated 800,000 net Remaining Midstream Assets acres to EnLink Midstream Devon will account for 50% of EnLink Midstreams 2014 cash…
Strong Balance Sheet and Financial Outlook Projected Synergies: 2014 Adjusted EBITDA * Guidance Financial: 25 MM annually Combined Adjusted EBITDA for Q2-Q4 525 MM Operational: 20 MM annually Combined Adjusted EBITDA Annualized…
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