SECOND QUARTER 2014 Earnings Review – DCP Midstream Partners Lp

DCP Midstream Partners Lp · Aug 6, 2014 · 14 slides

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SECOND QUARTER 2014 Earnings Review 8/6/2014
Second Quarter Highlights Continued strong financial results Financial Results Growth Executing Strategy 110 million Adjusted 160 million of organic 1.15 billion dropdown EBITDA growth projects across all contributing to Q214 up 31%…
Capital & Distribution Growth Outlook 1.0B 3B5B 2014 Distribution Outlook of organic projects 2014-2016 potential 2014 distribution 2013-2014e dropdowns from DCP growth target 2014 DCF target 400-420 million(2) 2.0B 7% Type of…
Business Update Natural Gas Services NGL Logistics Wholesale Propane Logistics Strong growth from expanding Sand and Southern Hills pipelines Completed contracting for the asset base integrated and ramping up 2014/2015 winter heating…
Consolidated Financial Results Q2 2014 Adjusted EBITDA (MM) YTD 2014 Adjusted EBITDA (MM) 31 million increase 79 million increase (1) (1) Q2 2013 Q2 2014 YTD 2013 YTD 2014 (2) (2) (2) 68 Distributable Cash Flow 93 37%…
Q2 2014 Segment Adjusted EBITDA Natural Gas Services Eagle Ford and DJ Basin systems driving growth in Natural Gas Services 24 million increase Wholesale Growth in NGL (1) Propane Q214 Logistics driven reflects lower unit by…
Financial Position & 2014 Sensitivities Financial positioning is key to growth strategy Liquidity and Credit Metrics (6/30/14) Strong capital structure and investment grade credit ratings Effective Interest Rate 3.8% Actively…
Summary Executing Strategy Distribution Growth Successfully executing growth Delivering strong results (MM) Q213 Q214 Adjusted EBITDA 84 110 31% DCF 68 93 37% TTM Coverage (paid) 1.1x 1.1x Progress on 2014 Outlook 2014 Investor Day…
Supplemental Information Appendix 10
2014 Sensitivities 2014 Margin 95% Fee-Based/Hedged(1) Fee-based margin percentage is up 5% from Fee-Based/Hedged 2013 95% Estimated 2014 Commodity Sensitivities Amount Impact to of Adjusted Commodity Change EBITDA…
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…
Consolidated Financial Results Three Months Ended Six Months Ended June 30, June 30, ( in millions) 2014 2013 2013 2014 2013 2013 As Reported As Reported Sales, transportation, processing and other revenues 834 721 704 1,930 1,470…
Commodity Derivative Activity Three Months Ended Six Months Ended June 30, June 30, ( in millions) 2014 2013 2014 2013 Non-cash (losses) gains commodity derivative (30) 58 (43) 48 Other net cash hedge settlements received 8 13 6 23…
Balance Sheet As Reported June 30, December 31, December 31, 2014 2013 2013 (Millions) Cash and cash equivalents 57 12 12 Other current assets 429 491 491 Property, plant and equipment, net 3,207 3,046 3,005 Other long -term…

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