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Raymond James Institutional Investors – Williams Companies, Inc.

Williams Companies, Inc. · Mar 3, 2014 · 31 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. Raymond James Institutional Investors – Williams Companies, Inc. – slide 1
    Raymond James Institutional Investors Conference Don Chappel, Chief Financial Officer March 3, 2014 2013 2014 The Williams Companies, Inc. All rights reserved.
  2. Raymond James Institutional Investors – Williams Companies, Inc. – slide 2
    Strategy built to deliver long-term growth Our strategy Be the premier provider of large-scale infrastructure designed to maximize the opportunities created by the vastly greater supply of natural gas and natural gas products now…
  3. Raymond James Institutional Investors – Williams Companies, Inc. – slide 3
    Scale positions, competitive advantages drive growth and value creation Strategy- aligned capital investment Northeast Transco Canada Gulf of Mexico NGL-Petchem 5 Raymond James Institutional Investors Conference…
  4. Raymond James Institutional Investors – Williams Companies, Inc. – slide 4
    Well-positioned in key areas of supply growth Bcf/d Natural Gas U.S. Supply Growth 120 Direct Ownership Investment 100 Northeast 80 Rockies San Juan Gulf of Mexico 60 Fort Worth Mid-Continent 40 Gulf Coast Permian 20…
  5. Raymond James Institutional Investors – Williams Companies, Inc. – slide 5
    Gas demand grows in response to supply, price U.S. Natural Gas Demand Growth Bcf/d 120 +12% 2% CAGR yields +45% 100 80 60 40 20 0 2000 2005 2010 2015 2020 2025 2030 Residential Commercial Industrial Power LNG…
  6. Raymond James Institutional Investors – Williams Companies, Inc. – slide 6
    Growing NGL supplies require big infrastructure Mbbl/d U.S. NGLs Supply Growth 5,000 4,500 4,000 Ethane Rejection 3,500 Ethane 3,000 2,500 2,000 Propane 1,500 1,000 Butane 500 Pentane 0 2008 2012 2016 2020 2024 2028…
  7. Raymond James Institutional Investors – Williams Companies, Inc. – slide 7
    Key accomplishments and developments Recent Milestones 2014 Growth Drivers 2015+ Growth Drivers Canadian ethane Commodity prices Full-year effect of recovery project Geismar expansion 2014 growth drivers Constitution draft EIS NE…
  8. Raymond James Institutional Investors – Williams Companies, Inc. – slide 8
    Ramping up growth in volumes, services in NE Partners and Investments Gross Dedicated Acres Laurel Mtn Midstream 500,000 ACMP Marcellus 1,700,000 Ohio Valley Midstream 236,000 Susquehanna 150,000 Three Rivers JV 275,000 Total…
  9. Raymond James Institutional Investors – Williams Companies, Inc. – slide 9
    Atlantic Gulf region has abundant growth in key markets 5.1B in guidance NE Connector/ Rockaway Lateral Constitution 2nd half of 2014 Late 2015 to 2016 Atlantic Sunrise Rock Springs 2nd half of 2017 Expansion 3Q 2016 CPV Leidy…
  10. Raymond James Institutional Investors – Williams Companies, Inc. – slide 10
    Atlantic Sunrise provides firm-transportation to move Marcellus gas south to growing markets Significant Zone 6 expansion of Pennsylvania Transco system Maryland Expecting WPZ net investment of Virginia Zone 5 2.1 billion…
  11. Raymond James Institutional Investors – Williams Companies, Inc. – slide 11
    Deepwater projects hit significant milestones Gulfstar One Tubular Bells Keathley Canyon Connector Laying pipe Spar in position Temp deck on location 400 MMcf/d capacity High-potential neighborhoods and additional Wet…
  12. Raymond James Institutional Investors – Williams Companies, Inc. – slide 12
    Williams strategic advantages in the oil sands Only company in the world extracting and Available NGL / Olefins volume (Mbbl/d) fractionating olefin/NGL 100 mixes from oil sands Potential offgas 90 volume from upgrader WPZs…
  13. Raymond James Institutional Investors – Williams Companies, Inc. – slide 13
    ACMP ownership interest well-positioned for accelerating cash flow growth in guidance period and beyond WMB owns 50% of Access GP and 23% of LP Units Source: Access Midstream February 2014 Investor Presentation 15 Raymond James…
  14. Raymond James Institutional Investors – Williams Companies, Inc. – slide 14
    WPZs expected growth drives 68% increase in cash distributions to WMB (Midpoint of guidance, dollars in millions) WPZ business expected to grow at 15% GP / IDRs expected to grow at 30% WPZ adjusted segment profit + DD&A1 WPZ…
  15. Raymond James Institutional Investors – Williams Companies, Inc. – slide 15
    Strong, clear dividend growth and excess cash flow guidance Cash dividends per share growth Illustrative excess cash flow 20102015 CAGR of 34%* available & coverage ratio* (midpoint of guidance) (upside & cushion for risk)…
  16. Raymond James Institutional Investors – Williams Companies, Inc. – slide 16
    Strong fundamentals and competitive advantages drive robust, visible growth In guidance Growth investment spending by operating area 20132015 20132018 11 billion 19 billion 26 billion 2013 actual 2013 actual Under negotiation…
  17. Raymond James Institutional Investors – Williams Companies, Inc. – slide 17
    Williams and Williams Partners premier energy infrastructure investments Natural gas infrastructure supercycle; Tailwinds building behind our long-term strategy Large-scale positions, strong competitive advantages Deep, diverse,…
  18. Raymond James Institutional Investors – Williams Companies, Inc. – slide 18
    Appendix 2014 The Williams Companies, Inc. All rights reserved.
  19. Raymond James Institutional Investors – Williams Companies, Inc. – slide 19
    Dividend illustration and coverage calculation (Midpoint of guidance, dollars in millions except per share amounts) Williams positioned to provide shareholders strong dividend increases 2014 2015 1 Distributions from WPZ 1,649…
  20. Raymond James Institutional Investors – Williams Companies, Inc. – slide 20
    Williams NGL & Petchem Services adjusted cash flow available (Dollars in millions) Williams NGL & Petchem Services positioned to contribute significantly to dividend growth 2014 Guidance 2015 Guidance Low Midpoint High Low…
  21. Raymond James Institutional Investors – Williams Companies, Inc. – slide 21
    Target IRRs Strategic, large-scale, primarily fee-based Fee-based 13%-25% Commodity-exposed cash flows driving growth 25%+ Project Description and Estimated Capex Expected Remaining Time Dollars in millions to Target In-Service…
  22. Raymond James Institutional Investors – Williams Companies, Inc. – slide 22
    WMB Non-GAAP Reconciliations 2014 The Williams Companies, Inc. All rights reserved.
  23. Raymond James Institutional Investors – Williams Companies, Inc. – slide 23
    WMB Non-GAAP Reconciliations Segment profit guidance reported to adjusted Dollars in millions 2014 Guidance 2015 Guidance Low Midpoint High Low Midpoint High Reported segment profit: Williams Partners (WPZ) 2,292 2,472 2,652…
  24. Raymond James Institutional Investors – Williams Companies, Inc. – slide 24
    WMB Non-GAAP Reconciliations WMB adjusted segment profit + DD&A Dollars in millions 2014 Guidance 2015 Guidance Low Midpoint High Low Midpoint High Adjusted segment profit: Williams Partners 2,165 2,345 2,525 2,610 2,830 3,050…
  25. Raymond James Institutional Investors – Williams Companies, Inc. – slide 25
    WPZ Non-GAAP Reconciliations 2014 The Williams Companies, Inc. All rights reserved.
  26. Raymond James Institutional Investors – Williams Companies, Inc. – slide 26
    WPZ Non-GAAP Reconciliations Reconciliation of non-GAAP distributable cash flow to GAAP net income 2012 2013 (Dollars in millions, except coverage ratios) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year…
  27. Raymond James Institutional Investors – Williams Companies, Inc. – slide 27
    WPZ Non-GAAP Reconciliations Adjusted segment profit reconciliation and adjusted segment profit + DD&A 2012 2013 (Dollars in millions) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year Segment profit…
  28. Raymond James Institutional Investors – Williams Companies, Inc. – slide 28
    WPZ Non-GAAP Reconciliations Adjusted segment profit reconciliation and adjusted segment profit + DD&A, contd 2012 2013 (Dollars in millions) 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year Adjusted…
  29. Raymond James Institutional Investors – Williams Companies, Inc. – slide 29
    WPZ Non-GAAP Reconciliations Segment profit guidance reported to adjusted Dollars in millions 2014 Guidance 2015 Guidance Low Midpoint High Low Midpoint High Reported segment profit: Northeast G&P 195 355 Atlantic - Gulf 630…
  30. Raymond James Institutional Investors – Williams Companies, Inc. – slide 30
    WPZ Non-GAAP Reconciliations Segment profit guidance reported to adjusted Dollars in millions 2014 Guidance 2015 Guidance Low Midpoint High Low Midpoint High Adjusted segment profit: Northeast G&P 195 355 Atlantic - Gulf 630…
  31. Raymond James Institutional Investors – Williams Companies, Inc. – slide 31
    WPZ Non-GAAP Reconciliations Net income & distributable cash flow Dollars in millions 2014 Guidance 2015 Guidance Low Midpoint High Low Midpoint High Net Income 1,766 1,906 2,046 1,900 2,085 2,270 DD&A 895 920 945 1,010 1,035…

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