Key Investment Highlights DPM funding Dropdowns vehicle for to DPM DCP enterprise Aggressive growth capital program Executing Sustainable Financial Strategy Growth Strength Funding the DCP 1.15B immediately Strong…
Growing the DCP Enterprise Total Assets (Billions) 55% 165% (1) (4) NGL Production (MBbls/d) 15% 250% (1) (4) DCP enterprise growth delivers sustainable value DPM Distribution Growth Driving optimization by…
Diversified & Growing Business Portfolio DPM Stats(3) 20 Plants 9 Fractionators Natural Gas Processing(1) (MMcf/d) 13,000 miles of pipeline DCP Midstream enterprise Processing Capacity: 3.2 Bcf/d Enterprise Products Targa…
DCP/DPM Organic Project Execution OConnor Expansion (3) 85% Utilization(1) Goliad (3) DCP DPM OConnor Plant (3) Rawhide(4) Capacity brought Capacity brought Eagle Plant(3) online from 1Q12 online from 1Q12 to 1Q14 to 1Q14…
Largest Dropdown in DPMs History 1.15 Billion Dropdown(1) (1) 20% of consideration to be paid to DCP Midstream in CO DPM common units Sand Hills Pipeline (1/3 ownership interest) Denver 720-mile NGL pipeline Initial capacity:…
250MM Organic Growth Project Lucerne 2 Plant(1) (1) Lucerne 1 Plant (1) Located in the prolific DJ Basin Strong DJ Basin producer capital investments led by key customer Noble Energy OConnor Plant 200 MMcf/d deep cut, cryogenic…
Capital & Distribution Growth Outlook 1.4B 3B5B 2014 Distribution Outlook of organic projects 2014-2016 potential 2012-2014e dropdowns from DCP 2014 distribution 2014 DCF target 2.0B growth target (in MMs) 400-420 million(2) 7%…
Natural Gas Services Key Highlights Michigan Projects executed System Wyoming Eagle Plant 200 MMcf/d (in service Mar 2013) System O'Connor Plant 110 MMcf/d (in service Q4 2013) Lucerne 1 Plant (4) OConnor Plant 50 MMcf/d…
NGL Logistics NGL Logistics Stats(1) 4 Fractionators Key Highlights 1,500 miles of NGL pipelines Marysville Gross throughput capacity: 374,000 Bbls/d Storage NGL Storage capacity: 7 MMBbls Announced dropdown of one-third interests…
2014 Sensitivities 2014 Margin 95% Fee-Based/Hedged(1) Fee-based margin Fee-Based/Hedged percentage is 95% up 5% from 2013 Estimated 2014 Commodity Sensitivities Amount Impact to of Adjusted Commodity Change EBITDA…
Financial Position at Dec 31, 2013 Financial positioning is key to growth strategy Liquidity and Credit Metrics Strong capital structure and investment grade credit ratings Effective Interest Rate 3.4% Credit facility and commercial…
Delivering Sustainable Growth (2) (3) 400-420 3.06 280% 35-40% 7% (1) 2014 Outlook 3-5 billion 2014-2016 potential dropdowns Announced 1.15 billion dropdown in Q114 500 million 2014 organic growth capex 400-420…
Key Investment Highlights DPM funding Dropdowns vehicle for to DPM DCP enterprise Aggressive growth capital program Executing Sustainable Financial Strategy Growth Strength Funding the DCP 1.15B immediately Strong…
Supplemental Information Appendix 17
(1) Commodity Hedge Position Overall 95% fee-based/hedged in 2014 55% fee-based 45% commodity is 90% hedged Virtually all 2014 hedges are direct commodity price hedges Current Commodity Hedge Position H edge P ri c e 2014 2015…
Growth in Execution- G&P OConnor Goliad Keathley Canyon Plant Plant Connector 160 MMcf/d gas processing 200 MMcf/d gas processing Expansion of DPMs 40% plant in DJ Basin plant in the Eagle Ford ownership of Discovery o 110…
Growth in Execution- Logistics Texas Front Range Additional Express Pipeline Growth Projects Joint Venture in a 583 mile 435 miles NGL pipeline; Marysville Ethane NGL pipeline providing connection to Texas Expansion (started up…
O'Connor Plant OConnor Plant Highlights: Total estimated cost 242MM, including expansion(1) In service: Oct 2013 OConnor Plant Part of an 8 plant system owned by the DCP enterprise with 600 MMcf/d capacity Expansion underway to…
Eagle Ford System (1) One of the largest gathering and processing systems in the prolific Eagle Ford shale play Eagle Ford Integrated System Eagle Ford System Highlights: Capacity Plant Name (MMcf/d) 1.2 Bcf/d LaGloria 220…
Keathley Canyon Connector Major expansion of the central Gulf of Mexico (Discovery System) Supported by long-term fee-based agreements with the Lucius and Hadrian South owners for natural gas gathering and processing services…
Texas Express NGL Pipeline NGL pipeline infrastructure project provides much-needed takeaway capacity from Rockies, Permian Basin and Mid-Continent to Gulf Coast Integral to DCP enterprises assets and strategic positioning, including…
Front Range Pipeline Front Range Pipeline Highlights: OConnor Plant Total estimated cost 172MM(1) In service: Feb 2014 Front Range Pipeline (One-third interest) Joint Venture: owned one-third each by DPM, Enterprise and Anadarko…
Non-GAAP Reconciliations Natural Gas Services Segment Year Ended December 31, As reported in 1 As reported in 1 As reported in 1 (MM) 2013 2012 2011 2010 Segment net income (loss) attributable to partners 193 180 110 77 Non-cash…
Non GAAP Reconciliation Year Ended Decem ber 31, 2010 (As Reported) (Millions, except per unit am ounts) Adjusted net income attributable to partners 52 General partner interest in adjusted net income (17) Adjusted net income…
Non GAAP Reconciliation Year Ended Decem ber 31, 2013 (Millions) Reconciliation of Non-GAAP Financial Measures: Net income attributable to partners 181 Interest expense 52 Depreciation, amortization and income tax expense, net of…
Non GAAP Reconciliation Year Ended Decem ber 31, 2013 (Millions, except per unit am ounts) Adjusted net income attributable to partners 217 Adjusted net income attributable to predecessor operations (6) Adjusted general partners…
Non GAAP Reconciliation Twelve months ended December 31, Q113 Q213 Q313 Q413 2013 (Millions, except as indicated) Net income (loss) attributable to partners 52 102 (1) 28 181 Maintenance capital expenditures, net of…
Non GAAP Reconciliation Twelve Months Ended December 31, 2014 Low High Forecast Forecast (Millions) Reconciliation of Non-GAAP Measures: Forecasted net income attributable to partners* 298 308 Interest expense, net of interest…
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