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Investor Presentation – DCP Midstream Partners Lp

DCP Midstream Partners Lp · Jun 30, 2014 · 30 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 – DCP Midstream Partners Lp – slide 1
    INVESTOR PRESENTATION June 2014
  2. Investor Presentation – DCP Midstream Partners Lp – slide 2
    Growing the DCP Enterprise Total Assets (Billions) 60% (3) 220% (1) (NYSE:DPM) NGL Production (MBbls/d) 20% (3) 310% (1) DCP enterprise growth delivers sustainable value DPM Distribution Growth (/Unit) Driving…
  3. Investor Presentation – DCP Midstream Partners Lp – slide 3
    Industry Leading Position 1 Gas Processor(1) Natural Gas Processing(1) (MMcf/d) 1 NGL Producer(1) DCP Midstream enterprise 3 NGL Pipeline Operator(2) Enterprise Products Targa Resources MarkWest Energy Partners 1 Lucerne 1 DPM…
  4. Investor Presentation – DCP Midstream Partners Lp – slide 4
    DCP Enterprise Executing Growth 2010 2016e DJ Basin Growth Capex 8B 8B Assets 16B+ 58 of plants 70+ Zia II Processing 5.9 volume 7.2+ (TBtu/d) 369 NGL production 525+ (MBPD) 1,400 NGL pipeline 3,000+ miles…
  5. Investor Presentation – DCP Midstream Partners Lp – slide 5
    Growth-for-Growth Strategy 2014-2015 organic projects (1) DCP Midstream 4-6B DCP Midstream: 60% 2014-2016 Natl Helium Plant Expansion (Q314) 2010 to Q1 2014 capital program Zia II Plant (1H15) Total Assets DPM: (Billions)…
  6. Investor Presentation – DCP Midstream Partners Lp – slide 6
    Project Execution 4B Projects placed in-service(1) Roberts Mewbourn Mewbourn Eagle OConnor Rawhide Goliad OConnor Keathley Canyon Zia II Ranch Plant Expansion Plant Plant Plant Plant Expansion Connector Plant 2011-2012 2013 2014…
  7. Investor Presentation – DCP Midstream Partners Lp – slide 7
    Industry Leader in the Midcontinent Midcontinent Stats(1) Ladder Wattenberg 1 Creek Pipeline 13 Gas Processing Plants Gatherer & 30,000 miles of pipelines Processor(2) 2 Bcf/d processing capacity 120,000+ Bbls/d NGL production…
  8. Investor Presentation – DCP Midstream Partners Lp – slide 8
    Industry Leader in the Permian Permian Stats(1) Pecos Zia II 1 Daggar Draw/ Diamond 17 Gas Processing Plants, 2 fractionators Artesia Linam Ranch/ Gatherer & Hobbs 18,000 miles of pipelines Processor(2) 1.3+ Bcf/d processing…
  9. Investor Presentation – DCP Midstream Partners Lp – slide 9
    Industry Leader in the DJ Basin DJ Basin Stats(1) 1 Gatherer & 8 8Gas GasProcessing ProcessingPlants, Plants,2 2Fractionators Fractionators Eaton Lucerne 2 3,400 miles of pipelines 3,400 miles of pipelines Processor(2) 600…
  10. Investor Presentation – DCP Midstream Partners Lp – slide 10
    DCP Midstream Partners Overview 11
  11. Investor Presentation – DCP Midstream Partners Lp – slide 11
    DPM Capital & Distribution Outlook 1.4B 3B5B 2014 Distribution Outlook of organic projects 2014-2016 potential 2012-2014e dropdowns from DCP 2014 distribution 2014 DCF target 2.0B growth target (in MMs, except 400-420 million(2)…
  12. Investor Presentation – DCP Midstream Partners Lp – slide 12
    Summary of Segment Results Natural Gas Services 2013 Adjusted Adjusted EBITDA(1) Segment EBITDA(1) (Millions) CAGR 30% (2) (2) (2) Natural Gas Services NGL Logistics NGL Logistics Adjusted EBITDA(1) * 9MM non-cash…
  13. Investor Presentation – DCP Midstream Partners Lp – slide 13
    Natural Gas Services Key Highlights Michigan Experiencing strong growth from dropdowns System Wyoming Eagle Ford and DJ Basin System Eagle Ford volumes up 22% from Q113 DJ Basin System Lucerne 1 Plant Lucerne 2 Plant(2)…
  14. Investor Presentation – DCP Midstream Partners Lp – slide 14
    NGL Logistics NGL Logistics Stats(1) Key Highlights 4 Fractionators 3,900 miles of NGL pipelines Gross throughput capacity: 905 MBbls/d Marysville Storage Closed dropdown of one-third interests in Sand NGL Storage capacity: 7…
  15. Investor Presentation – DCP Midstream Partners Lp – slide 15
    Wholesale Propane Logistics Wholesale Propane Logistics Stats(1) Key Highlights Owned /Leased Terminals: 6 rail, 1 pipeline, 1 marine Net Storage Capacity: 550 MBbls 2013/2014 winter heating season exceeded base business…
  16. Investor Presentation – DCP Midstream Partners Lp – slide 16
    Financial Position & 2014 Sensitivities Financial positioning is key to growth strategy Liquidity and Credit Metrics (3/31/14) Strong capital structure and investment grade credit ratings Effective Interest Rate 4.0% Successful…
  17. Investor Presentation – DCP Midstream Partners Lp – slide 17
    A Compelling Investment (3) Update on 2014 Outlook 3.06 400-420MM DCF 138MM Q114 Adjusted EBITDA 7% up 38% from Q113 280% 122MM Q114 DCF up 58% from Q113 On-track to meet forecast (1) (2) Capacity (Mcf/d) 1.5B of…
  18. Investor Presentation – DCP Midstream Partners Lp – slide 18
    Supplemental Information Appendix 19
  19. Investor Presentation – DCP Midstream Partners Lp – slide 19
    2014 Sensitivities 2014 Margin 95% Fee-Based/Hedged(1) Fee-based margin percentage is Fee-Based/Hedged up 5% from 95% 2013 Estimated 2014 Commodity Sensitivities Amount Impact to of Adjusted Commodity Change EBITDA…
  20. Investor Presentation – DCP Midstream Partners Lp – slide 20
    Commodity Hedge Position Overall 95% fee-based/hedged in 2014 55% fee-based 45% commodity is 90% hedged Virtually all 2014 hedges are direct commodity price hedges Current Commodity Hedge Position Hedge Price 2014 2015 2016 NGL…
  21. Investor Presentation – DCP Midstream Partners Lp – slide 21
    Growth in Execution- G&P OConnor Goliad Plant Plant 160 MMcf/d gas processing plant in the DJ Basin 200 MMcf/d gas processing plant o 110 MMcf/d in service Oct13 in the Eagle Ford o Expansion to 160 MMcf/d in service Q114…
  22. Investor Presentation – DCP Midstream Partners Lp – slide 22
    Growth in Execution- G&P Lucerne 2 Keathley Canyon Plant Connector 200 MMcf/d gas processing plant in the DJ Basin o Anchored by long-term, Expansion of DPMs 40% minimum throughput fee-based ownership of Discovery System…
  23. Investor Presentation – DCP Midstream Partners Lp – slide 23
    Growth in Execution- Logistics Texas Front Range Additional Express Pipeline Growth Projects Joint Venture in a 583 mile Joint Venture in a 435 Marysville Ethane NGL pipeline providing miles NGL pipeline; which Expansion (started…
  24. Investor Presentation – DCP Midstream Partners Lp – slide 24
    Largest Dropdown in DPMs History Lucerne 1 1.15 Billion Dropdown(1) Plant 20% of consideration paid to DCP Midstream in DPM CO common units Sand Hills Pipeline (1/3 ownership interest) Denver 720-mile NGL pipeline Southern…
  25. Investor Presentation – DCP Midstream Partners Lp – slide 25
    Industry Leader in the Eagle Ford Eagle Ford System Stats(1) 2 Gatherer & 7 Gas Processing Plants, 3 fractionators Giddings Processor(2) Mont Belvieu 6,100 miles of pipelines 1.2 Bcf/d processing capacity 75,000+ Bbls/d NGL…
  26. Investor Presentation – DCP Midstream Partners Lp – slide 26
    Non-GAAP Reconciliations Natural Gas Services Segment Year Ended December 31, As reported in 1 As reported in 1 As reported in 1 (MM) 2013 2012 2011 2010 Segment net income attributable to partners 193 180 110 77 Non-cash…
  27. Investor Presentation – DCP Midstream Partners Lp – slide 27
    Non-GAAP Reconciliations Wholesale Propane Logistics Segment Twelve Months Ended (MM) (1) Q2 2013 Q3 2013 Q4 2013 Q1 2014 March 31, 2014 Segment net income (loss) attributable to partners 1 (1) 11 11 22 Non-cash commodity…
  28. Investor Presentation – DCP Midstream Partners Lp – slide 28
    Non-GAAP Reconciliation Three Months ended Year Ended March 31, Decem ber 31, As As As 2014 2013 Reported Reported Reported in 2013 in 2013 in 2010 (Millions, except per unit am ounts) Reconciliation of Non-GAAP Financial…
  29. Investor Presentation – DCP Midstream Partners Lp – slide 29
    Non-GAAP Reconciliation Three Months ended Year Ended March 31, Decem ber 31, As As As 2014 2013 Reported Reported Reported in 2013 in 2013 in 2010 (Millions, except per unit am ounts) Reconciliation of Non-GAAP Financial…
  30. Investor Presentation – DCP Midstream Partners Lp – slide 30
    Non-GAAP Reconciliation Twelve Months Ended December 31, 2014 Low High Forecast Forecast (Millions) Reconciliation of Non-GAAP Measures: Forecasted net income attributable to partners* 298 308 Interest expense, net of interest…

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