Regency Energy Partners LP RBC MLP Conference November 21, 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…
Integrated Midstream Platform Regencys diverse portfolio of services generates solid results while offering complete midstream services to producers Natural Gas Services Residue Gas Utilities Residential Natural Gas Natural…
Recent Developments Delivered solid financial and operating performance driven Completed more than 1.5 billion of major, fee-based by increased volumes for in liquids-rich regions organic growth projects on time and within budget…
Year-to-Date Performance Regencys year-to-date performance is primarily due to volume growth, increased demand for NGL logistics in liquids-rich areas and the acquisition of SUGS on April 30,2013 Adjusted EBITDA Distributable Cash…
Expanding Asset Base Diversified asset portfolio is strategically positioned to benefit from drilling activity in liquids-rich plays Asset Summary Gathering Pipeline (miles) 11,945 Treating/Processing Plants 19…
Recently Completed Expansions RGP Growth Capital Project Contract Type Estimated Completion Date ( in millions) Fee-based Refrigeration Plant Operational as of June 2012 Ranch JV Processing Facility1 33 10-year terms Cryogenic…
Major Expansions Under Construction RGP Growth Capital Project Contract Type Completion Date ( in millions) Dubberly Expansion 65 Fee-based with acreage dedication December 2013 Primarily POP with some WTX Expansion 21 230 Q1…
Gathering & Processing Opportunities Cotton Valley Bone Spring/Permian Drilling remains active in richer Cotton Valley and Brown Dense areas Newly combined assets of Cryogenic processing at Dubach is at capacity Regency/SUGS are…
Lone Star Opportunities Growth Opportunities Recently announced LPG (propane and butane) export project Mont Belvieu assets (Fractionation, storage and purity product transportation) are positioned to further expand Evaluating…
Contract Services Opportunities Revenue generating horsepower increased to over 1,000,000 and utilization was 97% for the third quarter of 2013, compared to 873,000 and 87% for the third quarter of 2012, respectively…
Overview of PVR Partners Acquisition
Expanding Asset Base On October 10, 2013, Regency entered into an agreement to purchase PVR Partners in a unit-for-unit transaction valued at approximately 5.6 billion, including the assumption of net debt Pro Forma Asset Base…
Strategic Highlights Combination of Regency and PVR creates the premiere, diversified gas gathering and processing MLP with scaled presence in the most economic, high-growth, oil and gas plays in North America Combined company will…
Improvements to Regency & PVR Business Profile 2013E Gross Margin Regency1 PVR Pro Forma NGL Services NGL Services 12% Coal 8% Coal 2 7% 24% Nat. Gas Trans. Nat. Gas G&P 14% Trans. Eastern2,3 48% 20% 46% 3,4 Mid- G&P…
2014 Objectives
2014 Objectives Invest In Future Leverage Integrated Maintain Stable Prudent Balance Execution Growth Midstream Platform Cash Flows Sheet Management Successfully close Utilize integrated Offer fully Maintain high Maintain…
Appendix
Maintain Stable Cash Flows: DCF Sensitivities DCF Sensitivity to Commodity Price Changes Balance of 2013 Change in WTI Price (/Bbl) Change in Natural Gas Price Decrease 10.00 Flat Increase 10.00 (/MMbtu) Decrease 1.00…
Maintain Stable Cash Flows: Comprehensive Hedging Program Executed Hedges by Product1 Balance of 2013 Full Year 2014 Natural Gas/Ethane 41% 51% Propane 84% 51% Normal Butane 54% 50% C5+/Condensate 82% 50% 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 1,900 0.99 Normal Butane 975 1.38 900 1.41…
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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