BUSINESS OUTLOOK & 2014 FINANCIAL PLAN Field Services Wouter van Kempen Chairman, President & CEO, DCP Midstream Chairman & CEO, DCP Midstream Partners
Field Services: 2013 Highlights Strategic Operational / Financial Growth Industry leading safety 2013 cash distributions 3B placed into service: performance to Owners of 430MM Sand Hills 1 gas processor, 1 up 6% Southern Hills…
Field Services: DCP Midstream is a Leader in Key Basins Natural Gas Processing1 (MMcf/d) DCP Midstream enterprise 1 Enterprise Products Targa Resources DJ Basin2 MarkWest Energy Partners DPM standalone 5 Wattenburg Encana NGL…
Field Services: Significant Progress Achieved DCP 2010 DCP 2016e Top tier gatherer and processor Midstream logistics services leader Executing ahead of schedule Significant progress achieved toward 2015 goal nearly there now…
Field Services: 2014 NGL Barrel Update & Pricing Assumptions 2014 Price DCP NGL Crude Gas 2014 DCP NGL Barrel Update Assumptions /gal /Bbl /MMBtu 1. 2014 NGL Barrel includes ethane rejection DCP 0.94 95 3.75 resulting in heavier…
Field Services: 2013-16e EBITDA and Net Income DCP EBITDA(1) (100%, MM) DCP Net Income(1) (100%, MM) 11% 4% CAGR 555 CAGR 1,595 2013-2016 545 2013-2016 1,535 491 510 1,330 1,157 2013e 2014e 2015e 2016e 2013 2014e 2015e…
Field Services: Growth-for-Growth Strategy 4-6B 3-5B 33% 2014-2016 self-funded 2014-2016 potential CAGR 2013-2016 capital program dropdowns to DPM DCP GP/LP from DPM DPM Dropdowns (B, consolidated, includes DPM) DPMs Distributions…
Field Services: Delivering Value to Owners Significant valuation uplift by 2016 with increasing DPM GP/LP distributions DPM GP/LP Distributions to SE & PSX (100%, MM) 275 DPM GP DPM LP 225 100 17x/5.9% yield (1) 170 85 116 70…
Field Services: 2014 Priorities Place projects into service Drop down of at least 1B in Goliad Plant in Eagle Ford OConnor Plant Expansion in DJ assets to DPM Front Range NGL pipeline in service Targeting dropdown of 1/3…