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WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP

Enterprise Products Partners LP · Dec 4, 2012 · 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. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 1
    Wells Fargo Pipeline Symposium December 4, 2012 Michael A. Creel www.enterpriseproducts.com President & CEO All rights reserved. Enterprise Products Partners L.P.
  2. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 2
    Key Investment Considerations Largest publicly traded energy partnership with an enterprise value of approximately 63 billion 62nd on Fortune 500; 226th on Fortune Global 500 Integrated midstream energy infrastructure serving…
  3. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 3
    EPD Portfolio of Integrated Assets Major Asset Overview 50,700 miles of natural gas, NGL, crude oil, refined 21 NGL & Propylene fractionators products and petrochemical pipelines 6 offshore hub platforms 190 MMBbls of NGL, refined…
  4. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 4
    Geographic and Business Diversification Provide Multiple Earnings Streams 4.3 Billion Gross Operating Margin NGL Pipelines & Services (57%) For 12 months ended September 30, 2012 Natural gas processing & related NGL marketing…
  5. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 5
    Existing Wells and Shale Plays Its No Coincidence EPD Pipelines Gas Crude Oil Liquids (NGL & Products) Shale Plays Existing North American Production Oil Gas Source: USGS Production 2008 All rights reserved. Enterprise…
  6. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 6
    Shale Plays: LongTerm Future Development Potential Play Estimated Acres Remaining Wells per Year Potential Years Locations of Drilling Marcellus 15,000,000 175,000 1,650 100 Utica 13,000,000 50,000 600 80 Eagle Ford 10,000,000…
  7. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 7
    Timeline to Energy Security Two 2020 Forecasts, Same Answer Liquid Petroleum Products 2007 2012 2020 2020 (MBPD) YTD EPD PIRA* U.S. Consumption (excl. exports) 20,700 18,500 19,000 19,700 U.S. Production (incl. refinery gain &…
  8. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 8
    Continually Evaluating Emerging Shale / Non-Conventional Plays Williston Basin Appalachian Basin Bakken Appalachian Basin Marcellus Utica Jonah Powder River Basin Pinedale Niobrara Michigan Basin Uinta Basin Antrim Mancos Denver…
  9. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 9
    Rich Gas Understanding Profitability and Producer Incentives RichGas Rich GasValue Value per per Mcf Mcf of of Gas Gas BasedForward on Forward 12 Strip 12 Month Month Strip 7.00 6.03 Mcf 6.00 Ethane (0.31 /gal) 0.45 8%…
  10. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 10
    Low Gas to Crude Spread Drives U.S. NGL Advantage NYMEX Natural Gas Price as a % of Crude Global Indicative Ethylene Cash Costs Bcf/d Dollars Per Metric Ton Ethylene 180% 30 1,400 160% 1,200 25 140% 1,000 120% 20 800 100% 600 15…
  11. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 11
    U.S. Petrochemical Industry is Retooling: Maximize Ethane Consumption for Max ExxonMobil CP Chemical Filed permits to expand CEO announced permits Baytown ethylene filed for 1.5 MM mt/yr complex by 1.5 MM mt/yr ethylene plant at…
  12. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 12
    Major EPD Growth Projects All rights reserved. Enterprise Products Partners L.P.
  13. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 13
    Visibility to Growth: 7.7 Billion in Major Capital Projects Under Construction In Service Date 1Q12 2Q12 3Q12 4Q12 2013 20142015 Haynesville Gas Gathering Pipeline SE Stanley & Treating Facility DONE Eagle Ford Mixed NGL Pipeline (Phase…
  14. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 14
    Shale Plays Drive EPDs Western NGL Pipeline Expansions: 1.0 Billion MAPL Rocky Mountain NGL Pipeline Expansion: 218 miles of 16 pipeline expected to be in service 1Q 2014 Increase capacity from 275 MBPD to 340 MBPD Project status:…
  15. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 15
    EPDs Eagle Ford Shale Projects Cumulative Capital Expenditures 4 Billion 2.2 Billion Placed In Service Eagle Ford Crude / 875 900 Condensate Production 600 530 MBPD 300 Eagle Ford Crude / 214 Condensate Production 3 35 0…
  16. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 16
    Seaway Crude Oil Pipeline Relieves Cushing Bottleneck Joint Venture reversed flow of Seaway and plans to expand capacity to provide Gulf Coast access for Mid-Continent, Bakken and Canadian crude oil ECHO Crude Oil Terminal…
  17. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 17
    Appalachia to Texas (ATEX) Express P/L Transport Ethane from Marcellus / Utica Shale 250 Volumes 231 216 204 200 181 168 150 MBPD 100 116 131 50 104 68 81 Proposed Ethane Header 0 Pipeline 2014 2015 2016 2017 2018…
  18. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 18
    Enterprise Mont Belvieu NGL Fractionation Overview Currently 230 MBPD of Fracs VII & VIII Frac V fractionation capacity Frac VI 650 MBPD fractionation capacity 4Q 2013 1.0 MMBPD Frac IV fractionation Companywide 4Q 2013 Project…
  19. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 19
    LPG Exports Continue at Unprecedented Pace 30 Top 5 Propane Exporters and U.S. 25 MMBbls / Month 20 15 10 5 0 2005 2006 2007 2008 2009 2010 2011 Saudi Arabia Qatar United Arab Emirates Algeria Norway United States…
  20. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 20
    Increased Ethane Usage Reduces U.S. Propylene Supply Ethane demand increasing vs. Propylene Supply from Ethylene Crackers Has Decreased with Increased Usage of Ethane naphtha due to favorable 16 1000 15.2 economics 14.7 900 Shift…
  21. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 21
    Propane Dehydrogenation Plant (PDH) EPD announced plans to build one of the worlds largest PDH units along the Texas Gulf Coast Will consume up to 35 MBPD of propane to produce up to 1.65 billion lbs. per year (25 MBPD) of polymer…
  22. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 22
    Financial All rights reserved. Enterprise Products Partners L.P.
  23. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 23
    (1) Solid Operating Performance 15 Natural Gas Pipeline Volumes 14.6 Liquids Pipeline 14.3 4,200 4,181 4,157 Volumes 13 12.7 11.9 3,990 4,000 4,000 11.0 11 10.1 TBtu/d MBPD Offshore 3,800 9 3,704 3,600 3,574 7…
  24. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 24
    Drives Strong Financial Results Gross Operating Margin 3.9 Distributable Cash Flow (DCF) 4.0 4.0 3.7 3.3 3.2 3.2 3.0 2.9 3.0 2.6 2.3 Billions Billions 2.0 2.0 2.0 1.6 1.4 1.0 1.0 1.0 0.0 0.0 2007 2008 2009 2010…
  25. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 25
    History of Financial Discipline While Executing Growth Strategy (1) (2) Total Growth Capex & Debt Leverage 4.0 4.0 22 major capital growth 4.6x 4.7x projects totaling 5.1 billion 3.6 3.5 4.5x of investment were completed 3.1 4.5x…
  26. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 26
    EPD and AMZ MLP Index Attractive Total Return vs. 8 Other Asset Classes 10-Year 5-Year 3-Year 2006 2007 2008 2009 2010 2011 9M 2012 1 1 1 CAGR CAGR CAGR REIT Commodities IG Bonds MLP Index EPD EPD EPD EPD EPD EPD EPD EPD EPD EPD…
  27. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 27
    Non-GAAP Reconciliations All rights reserved. Enterprise Products Partners L.P.
  28. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 28
    Gross Operating Margin We evaluate segment performance based on the non-GAAP financial measure of gross operating margin. Gross operating margin (either in total or by individual segment) is an important performance measure of the core…
  29. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 29
    Adjusted EBITDA Adjusted EBITDA is commonly used as a supplemental financial measure by our management and external users of our financial statements, such as investors, commercial banks, research analysts and ratings agencies to…
  30. WELLS FARGO PIPELINE SYMPOSIUM – Enterprise Products Partners LP – slide 30
    Distributable Cash Flow Distributable cash flow is an important non-GAAP financial measure for our limited partners since it serves as an indicator of our success in providing a cash return on investment. Specifically, this financial…

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