Non-GAAP Financial Information This presentation also contains non-generally accepted accounting principle financial measures that EnLink Midstream refers to as adjusted EBITDA, gross operating margin, growth capital expenditures and…
Introduction to EnLink Midstream Devon Energy Corporation (Devon or DVN), Crosstex Energy, Inc. (XTXI) and Crosstex Energy, L.P. (XTEX, and together with XTXI, Crosstex) closed on contribution and merger agreements involving…
Organizational Structure Devon Energy Public Corp. Unitholders (BBB+ / Baa1) 70% 30% EnLink GP owns a EnLink GP 250 million Sr. Secured RCF 50% interest in 53% NYSE: ENLC 39% the assets LP 1% GP LP contributed by 7%…
EnLink Midstream Investment Considerations Strategically Located and Complementary Strong Balance Assets Sheet and Credit Diverse, Fee-Based Profile Cash Flows Proven Management Track Substantial Scale Record & Long- and…
Strategically Located & Complementary Assets 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…
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…
Significant Sponsor Support from Devon Devons Upstream Portfolio & Devon will have dedicated 800,000 Remaining Midstream Assets net acres to EnLink Midstream Devon will account for 50% of EnLink Midstreams 2014 cash flows…
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 Growth Strategy EnLink Midstream is ideally positioned for growth EnLink Midstreams Four Avenues for Growth: Drop-Downs E2 condensate stabilization facilities in Ohio; 50% of Devon Midstream Holdings; the Access…
2014 Guidance 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 700 MM Long-term…
Appendix: Additional Maps & Major Projects 14 14
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…
Cajun-Sibon Update 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 Williams companies Expected run-rate…
Bearkat Project Update Builds on success of Deadwood joint venture with Apache, which was on- Processing Plant time, on budget and is near full capacity Fractionator 210MM investment for gas gathering and processing plant Apache…
Access Pipeline EnLink Midstream has a right of first offer with respect to Devons interest in the Access Pipeline Access is a 50/50 JV with MEG Energy Currently operates two pipelines: a 16, 214 mile line that originates in…
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