CHESAPEAKE MIDSTREAM DEVELOPMENT ACQUISITION DECEMBER 11, 2012
TRANSACTION OVERVIEW ACMP to acquire a substantial majority of Chesapeake ACMP Acquisition of Energys remaining midstream assets (CMD) for 2.16 CHK Midstream billion Assets (CMD) Unique opportunity to accelerate ACMPs drop down story…
KEY TRANSACTION HIGHLIGHTS CMD Areas of Operation Key Transaction Highlights Expanding Footprint and Scale Increased Diversification Low Risk Contract Structure Predictable Cash Flow Growth High Quality Organic Growth Platform…
TRANSACTION HIGHLIGHTS EXPANDS SCALE AND DIVERSITY WITH STRATEGIC SPONSOR SUPPORT Expanding Creates the largest gathering and processing MLP measured by volume and invested capital Footprint and Scale Addition of CMD midstream assets…
SCALE OF ACMP OPERATIONS ACMP IS THE LARGEST G&P MLP MEASURED BY VOLUME AND INVESTED CAPITAL 3Q 2012 PF Average Daily Throughput of Gathering Assets Key Operating Data(1) Mmcfe/d 4,500 Current Pro Forma 4,000 Basins 7 10 3,500…
BASIN AND CUSTOMER DIVERSIFICATION EXPANDING ACCESS TO BASINS AND CUSTOMER BASE Growth from seven to ten basins Greater geographic diversity Current ACMP Assets Pro Forma ACMP Assets Pro Forma ACMP Customer Base Chesapeake…
BASIN DIVERSIFICATION BROAD EXPOSURE TO WET GAS, OIL, AND DRY GAS RESOURCE PLAYS Barnett Marcellus Mid-Continent Haynesville Eagle Ford Utica Niobrara Basin Dry Gas; Wet Dry Gas; Wet Dry Gas; Wet Dry Gas Dry Gas Wet Gas; Oil Wet Gas;…
CONTRACT STRUCTURE PREDICTABLE BUSINESS MODEL EXTENDS TO NEW BASINS ACMP Haynesville Eagle Ford Utica Niobrara Direct Commodity None None None None None Price Exposure Cost of Service Cost of Service, Fixed Fee with MVC Cost of…
STRONG SPONSORSHIP SPONSORS BRING COMBINATION OF OPERATIONAL AND FINANCIAL EXPERTISE AND RESOURCES Williams provides an established history of managing, developing and completing large scale organic projects within the midstream sector…
PARTNERSHIP STRUCTURE STRATEGIC GENERAL PARTNERS; STRONG GOVERNANCE Pre-Transaction Structure Pro Forma ACMP Structure Global Infrastructure Global Infrastructure Global Infrastructure The Williams Partners II Partners I Partners II…
ACQUISITION FUNDING Debt financing backstopped by 1.0 billion bridge facility commitment Equity financing backstopped by 1.16 billion commitments from sponsors Expect to close by end of 2012 regulatory approvals complete Sources…
FINANCIAL OUTLOOK POST-ACQUISITION ACMP FINANCIAL OUTLOOK 2013/2014 ACMP Financial Outlook ( million) 2013 2014 Pre-Acquisition Post-Acquisition Pre-Acquisition Post-Acquisition EBITDA 550 - 575 800 850 600-650 1,000 1,100…
APPENDIX
CMD EAGLE FORD OVERVIEW LIQUIDS RICH BASIN Asset Summary Asset Map Resource Associated Gas (Oil), Wet Gas Services Gathering, Compression, Treating Gas Gathering Systems 12 Amine Treater (H2S) 1 (30 MMcf/d) Miles of Pipeline 615.8…
CMD UTICA GATHERING SYSTEM OVERVIEW WET GAS, DRY GAS AND NGL SERVICES Asset Summary Asset Map Asset Cardinal Gas Services Utica Gas Services (UGS) (CGS) Resource Associated Gas (Oil), Wet Dry Gas Gas Services Gathering, Compression,…
CMD UTICA EAST OHIO PROCESSING OVERVIEW PROCESSING DEDICATION IN WET GAS WINDOW Project Summary Asset Map Current Status Under Construction Processing Plants 3 (200 MMcf/d each) Fractionation 90,000 Bbl/d (C2+) NGL Storage 870,000…
CMD NIOBRARA OVERVIEW LIQUIDS-RICH GATHERING & PROCESSING DEDICATION WITH COST OF SERVICE CONTRACT STRUCTURE Asset Summary Asset Map Resource Associated Gas (Oil), Wet Gas Services Gathering, Compression, Processing Gas Gathering…
CMD HAYNESVILLE OVERVIEW MATURE ASSET WITH CONTRACTUAL PROTECTION Asset Summary Asset Map Resource Dry Gas Services Gathering, Compression, Treating Gas Gathering Systems 4 Treating Facilities North DeSoto: 550 MMcf/d Converse: 330…
CMD MARCELLUS OVERVIEW INCREMENTAL MARCELLUS DEDICATION Asset Summary Asset Map Resource Dry Gas Services Gathering, Compression Low Pressure Gas Gathering 24 Systems CDP / Interconnect 24 Miles of Pipeline 619.2 (In-Service) Miles of…
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