Regency Energy Partners LP Wells Fargo MLP Conference December 10 - 11, 2013
Forward-Looking Statements Certain matters discussed in this report include forward-looking statements. Forward-looking statements are identified as any statement that does not relate strictly to historical or current facts. Statements…
Key 2013 Highlights Completed more than 3 billion of major, organic growth Announced Plans to Purchase PVR Partners for 5.6 Billion projects and acquisitions in the last 12 months Completed the acquisition of SUGS in May, and…
Expanding Asset Base Diversified asset portfolio is strategically positioned to benefit from drilling activity in liquids-rich plays Marcellus Asset Summary 2012 2013 Midcontinent Utica Granite Wash Gathering Pipeline (miles)…
Gathering & Processing: West Texas Year-Over-Year Growth 2014 Opportunities Total volumes increased 410% over Legacy Q3 2012 Currently constructing 125 MMcf/d of additional NGL production increased 690% over Legacy Q3 2012 gathering…
Gathering & Processing: South Texas Year-Over-Year Growth 2014 Opportunities Total South Texas volumes have increased nearly 40% Continued volume ramp up across all systems Total NGL production has increased nearly 40% Pursuing…
Gathering & Processing: North Louisiana Year-Over-Year Growth 2014 Opportunities Dubach volumes have increased more than 60% Completing construction of 400 MMcf/d of additional Dubach NGL production has increased more than 50%…
Lone Star Opportunities Year-Over-Year Growth 2014 Opportunities Growth Opportunities 209,000 Bbls/d Gateway Pipeline in service and began Continued volume ramp up on Gateway and Fracs I and II ramp up Permitting 100,000 Bbls/d Frac…
Contract Services Opportunities New opportunities driving increased capex spending for compression due to continued strong demand, particularly in the Permian Basin, Eagle Ford, Niobrara and Appalachian Shales Marcellus/Utica…
Overview of PVR Partners Acquisition
Strategic Highlights Combination of Regency and PVR creates a premiere, diversified gas gathering and processing MLP with scaled presence in the most economic, high-growth, oil and gas plays in North America Increased Scale and PVR…
Expanding Asset Base PVR combination will expand Regencys position in the major growth plays in the lower 48 Pro Forma Asset Base Adds major position in Pro Forma Asset Summary Marcellus and Utica Shales Gathering Pipeline…
Marcellus Productivity: Finding the Sweet Spots PVRs assets sit in most of the top producing counties in the Marcellus Shale Indicates county in which PVR has operations in service Indicates county in which PVR has acreage…
Marcellus Productivity Rankings PVR has assets in 6 of the 10 counties generating the highest EURs in the Marcellus Shale Marcellus EUR Scatter by County Indicates county in which PVR has operations Source: U.S. Capital…
Summary Extensive midstream portfolio and strong position in majority of high-growth shale plays driving expansion opportunities Strong Visibility for Integrated Midstream High-Quality Assets Focused on Execution Continued…
Appendix
Recently Completed Expansions RGP Growth Capital Project Estimated Completion Date Expected Ramp Up ( in millions) Refrigeration Plant June 2012 Currently operating at 75% capacity; 100% contracted under Ranch JV Processing…
PVR Eastern Midstream Overview Marcellus Systems Overview Asset Map 100% fee-based: NY Firm reservation charges provide a floor on returns Additional volumetric fees based upon actual volumes PA Gathering Pipeline / Trunkline…
PVR Mid-Continent Midstream Overview Key Highlights Midcontinent Assets Traditional midstream gathering and processing business Assets are located in attractive natural gas basins with long-lived reserves 460 MMcfd processing…
Improvements to Regency & PVR Business Profile 2013E Gross Margin Regency1 PVR Pro Forma NGL Services NGL Services 12% Coal 8% 7% Coal 2 Nat. Gas Trans. Nat. Gas G&P 24% 14% Trans. 48% Eastern2,3 20% 46% G&P 3,4 Mid-…
Maintain Stable Cash Flows: DCF Sensitivities DCF Sensitivity to Commodity Price Changes 2014 Change in WTI Price (/Bbl) Change in Natural Gas Price Decrease 10.00 Flat Increase 10.00 (/MMbtu) Decrease 1.00 32M 20M 8M…
Maintain Stable Cash Flows: Comprehensive Hedging Program Executed Hedges by Product1 Balance of 2013 Full Year 2014 Natural Gas/Ethane 41% 51% Propane 84% 66% Normal Butane 54% 67% C5+/Condensate 82% 49% 1 As of…
Maintain Stable Cash Flows: Comprehensive Hedging Program Executed Hedges by Product1 Balance of 2013 Full Year 2014 Price Price Bbls/d Bbls/d (/gal) (/gal) Propane 3,150 0.96 2,500 1.01 Normal Butane 975 1.38 1,200 1.39…
Non-GAAP Reconciliation Thre e Months Ende d Se pte mbe r 30, 2013 June 30, 2013 March 31, 2013 De ce mbe r 31, 2012 Se pte mbe r 30, 2012 June 30, 2012 March 31, 2012 ( in millions) Net income (loss) 42 11 (29) (8) (2) 28 15 Add:…
Non-GAAP Reconciliation Three Months Ended September 30, Three Months Ended September 30, 2013 2012 2013 2012 Haynesville Joint Venture ( in millions) Net income 18 7 Lone Star Joint Venture ( in millions) Add: Net income 61 31…
Non-GAAP Reconciliation Three Months Ended September 2013 June 2013 March 2013 December 2012 September 2012 June 2012 March 2012 ( in millions) Net cash flows provided by operating activities 183 112 67 71 79 46 56 Add (deduct):…
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