Connections for Americas Energy Wells Fargo Securities Presentation 2014 Title Energy Symposium Presentation Subtitle 12/8/2014 Robert G. Phillips Chairman, President & CEO December 9-10, 2014 Crestwood Midstream Partners…
Crestwood Midstream/Crestwood Equity Mid-cap midstream partnerships focused on new infrastructure and services in high-growth shale plays Marcellus/Utica, Bakken, PRB Niobrara and Permian Basin growth driven by crude oil and NGL…
Well Positioned for Long Term Growth GP IDRs Two publicly traded MLPs provides Crestwood Equity Partners LP (NYSE: CEQP) strategic flexibility to enhance value NGL Business NGL Business CEQP strategy to be a pure-play GP…
Balanced and Diverse Business Mix Estimated 2014 EBITDA Contribution Operating Segments Regional Footprint Operating Assets West 4%West Other US Salt Marcellus Gathering & Central 4% Jackalope Processing 16% NGL & 38% Barnett…
Stable Fixed-Fee Contract Portfolio 94% of CMLP 2014 EBITDA from take-or- pay and fixed-fee contracts CMLP Contract Portfolio 2014 YTD EBITDA Major growth assets have substantial downside protection COLT Hub 149 MBbls/d via…
Improving Results Since Merger Segment EBITDA ( MMs) Segment Adjusted 2013 2014 (1) (2) EBITDA 3Q 4Q 1Q 2Q 3Q Gathering and Processing 43.2 47.5 48.2 51.0 50.3 Storage and Transportation 34.9 36.7 38.0 34.9 33.2 NGL and Crude…
Improving Balance Sheet Outlook Dec 31, Sep 30, BB/Ba3 credit rating; stable outlook ( in millions) 2013 2014 CMLP Balance Sheet Profile 500 MM Class A preferred equity commitment received by CMLP; 375 MM Revolver Balance (1) 414.9…
Improving DCF and Leverage Outlook CMLP CMLP is the growth engine of the Crestwood partnerships ( millions) CMLP has invested cumulative capital of 1.5 billion in acquisitions and organic growth projects since the merger…
Visibility to Long-Term Growth 2.0 billion of identified potential expansion opportunities around asset footprint E Expansion Opportunities A A. Marcellus Shale: 500 to 600 million B. South Texas: 1.1 to D 1.3 billion C. Permian…
Projects Update and Growth Opportunities Connections for Americas Energy 11 11
Tres Palacios Joint Venture 130 MM acquisition of Tres Palacios by CMLP and Brookfield Infrastructure Substantial growth opportunity for CMLP; improved credit metrics for CEQP Transaction validates improved Transaction Structure…
Brookfield Becomes Strategic Partner New Strategic Partnership Significant Capital and Energy Track Record Brookfield Infrastructure Fund: 29 billion of infrastructure assets in North America spanning energy, utilities and…
Tres Palacios Organic Growth Opportunities Substantial upside through cyclical return to normalized gas storage markets in 9.0 Bcf/d New Project Potential South Texas 500 MMcf/d Power 1.0 billion capital investment Gen…
NE Marcellus NS and Marc I Expansion Projects North-South Millennium Interconnect Expansion for additional 200 MMcf/d of firm 200 MMcf/d North-South transportation service Expansion Project Capex 10.9 MM; sub 2x EBITDA multiple;…
NE Marcellus MARC II Pipeline Project Marc I / North South pipelines transported a record 1.95 Bcf/d in recent weeks Current NE Marcellus supply access 2.5 Bcf/d; expansion increase to 3.3 Bcf/d MARC II Pipeline Marc II project…
SW Marcellus (Antero) Gathering & Compression Antero Midstream Dedication Area Crestwood Dedication Area Crestwood Dedication Area 20-year, fixed-fee gathering and compression services w/ annual escalators 7-year increasing MVCs…
Marcellus Utica NGL Supply and Logistics Opportunities Key NGL assets and long term customer relationships gives Crestwood a competitive advantage in growing Marcellus/Utica natural gas liquids opportunities NGL Marketing Leading…
Crude Oil Services Strategy Midstream value chain strategy at work in the Bakken and PRB Niobrara Crude Oil Strategy Focused on infrastructure for growing Bakken Shale and PRB Niobrara plays (2 MM BPD by 2020)(1) Fully integrated…
Crude Price Impact on Bakken Development North Dakota Oil and Gas Industry Impacts Study 2014-2019: KLJ, Inc Report commissioned by North Dakota legislature to forecast the level of production and the trends that impact production…
Bakken COLT Hub and Connector Acquired in December 2012; COLT Hub links Bakken crude supply to prime refinery markets; currently the leading rail terminal in North Dakota by volume Sourcing Capacity Storage Capacity Takeaway…
Bakken Arrow Gathering Acquired in November 2013; Substantial long-term growth through system build out 150,000 acre dedication on Fort Berthold Indian Reservation (FBIR) Considered best acreage in Bakken 1,200 estimated drilling…
Arrow System and Volumes continues to Grow Gas Volumes Mcf/d 60,000 50,000 40,000 30,000 20,000 10,000 0 Station 3 Station 6 4/1 6/1 8/1 10/1 12/1 2/1 4/1 6/1 8/1 10/1 12/1 Station 1 Produced Water Bbls/d Station 2 30,000…
PRB Niobrara Gathering, Processing & CBR Acquired in June 2013; fully integrated rich-gas and crude services through gathering, processing, trucking and crude-by rail storage and terminal facilities Jackalope Rich Gas Gathering…
Key Investor Highlights Financial stability with visible growth through execution of value chain strategy Strategically located assets in Marcellus/Utica, Bakken, PRB Niobrara and Permian Basin Diversified mix of natural gas, NGLs…
Crestwood Midstream Partners LP Non-GAAP Reconciliations CRESTWOOD MIDSTREAM PARTNERS LP (FORMERLY INERGY MIDSTREAM, L.P.) Segment Data (in millions) (unaudited) 2 0 14 2 0 13 3 rd Q t r 2 nd Q t r 1s t Q t r 4th Qtr 3 rd Q t r…
Crestwood Midstream Partners LP Non-GAAP Reconciliations CRESTWOOD MIDSTREAM PARTNERS LP (FORMERLY INERGY MIDSTREAM, L.P.) Reconciliation of Non-GAAP Financial Measures (in millions) (unaudited) 2 0 14 2 0 13 3 rd Q t r 2 nd Q t r…
Crestwood Equity Partners LP Non-GAAP Reconciliations CRESTWOOD EQUITY PARTNERS LP (FORMERLY INERGY, L.P.) Segment Data (in millions) (unaudited) 2 0 14 2 0 13 3 rd Q t r 2 nd Q t r 1s t Q t r 4th Qtr 3 rd Q t r Gathering and…
Crestwood Equity Partners LP Non-GAAP Reconciliations CRESTWOOD EQUITY PARTNERS LP (FORMERLY INERGY, L.P.) Reconciliation of Non-GAAP Financial Measures (in millions) (unaudited) 2 0 14 2 0 13 3 rd Q t r 2 nd Q t r 1s t Q t r 4th…
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