Regency Energy Partners LP CITI MLP Midstream Infrastructure Conference August 20, 2014
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…
Key First-Half 2014 Highlights Continued to execute on organic growth and acquisition Closed on Purchase of PVR Partners and Eagle Rocks Midstream programs Business Completed the acquisition of Hoovers midstream business in PVR adds…
Financial Performance Regencys strong performance is primarily due to volume growth, increased demand for NGL logistics in liquids-rich areas and the acquisitions of SUGS and PVR Adjusted EBITDA Distributable Cash Flow 307 250…
Expanding Asset Base Regency has transformed into a larger, more diverse midstream provider with leading positions in 5 strategic basins Asset Summary 2012 2014 Marcellus/Utica PVR assets provide significant Gathering Pipeline…
Integration and Synergy Update Executing on PVR and Eagle Rocks midstream business integration plans with focus on achieving business continuity and capturing synergies Key Integration Highlights Synergy Overview Currently have…
Gathering and Processing: Eastern Region Total Eastern region volumes grew nearly 35% to 1.8 million MMbtu/d from Q2 2013 to Q2 2014 Lycoming System Expansion Auburn/Korbin Compressor Stations 500 MMcf/d trunkline, along with Adding…
Utica Ohio River Joint Venture Utica Ohio River Joint Venture creates a first-mover advantage, and will be a main take-away option for Utica lean-gas development and potentially residue gas Utica Ohio River Project Joint Venture…
Gathering & Processing: Permian Region Year-Over-Year Growth Expansions and Opportunities Total volumes increased nearly 40% over Q2 2013 Adding 200 MMcf/d of incremental processing capacity at Mi Vida NGL production increased 30%…
Gathering & Processing: South Texas Region Year-Over-Year Growth Expansions and Opportunities Total South Texas volumes have increased nearly 15% Further expanding Tilden and Edwards Lime facilities to address Eagle Ford gathering…
Gathering & Processing: North Louisiana Region Year-Over-Year Growth Expansions and Opportunities Combined Dubach and Dubberly volumes increased 50% Constructing new 200 MMcf/d cryogenic processing facility at Dubach and Dubberly NGL…
Gathering and Processing: Mid Continent Region Growth Since January 1, 2014 System Integration and Opportunities Completed acquisitions of PVR and EROCs midstream business; executing Laying pipe and completing additional system tie…
Lone Star Opportunities Year-Over-Year Growth 2014 Opportunities Growth Opportunities NGL transportation throughput increased 32% Continued volume ramp up on Gateway and Fracs I and II Fractionation throughput increased more than…
Contract Services Opportunities New opportunities driving increased capex spending for compression due to continued strong demand, particularly in the Permian Basin, Eagle Ford, Niobrara and Appalachian Shales Marcellus/Utica…
Maintain Stable Cash Flows Acquisitions significantly increase the scope of Regencys core gathering and processing business Adjusted Total Segment Margin 2012 2013 2014 Target 9% 9% 10% 8% 14% 15% 76% 75% 83% Fee-based…
Summary Extensive midstream portfolio and strong position in majority of high-growth shale plays driving expansion opportunities Strong Visibility for Integrated Midstream High-Quality Assets Focused on Execution Continued…
Appendix
EROC Midstream Acquisition Highlights Area of Operations Texas Panhandle Super System Legend 6,500 miles of gathering pipeline EROC Gathering Systems EROC Processing Plant 550 MMcfd of processing capacity BP acquisition has led…
EROC Midstream - Texas Panhandle Overview Highlights Texas Panhandle Map EROCs Texas Panhandle region covers 14 counties in Texas and two counties in Oklahoma Texas Panhandle assets consist of 6,514 miles of natural gas gathering…
EROC Midstream - East Texas Overview Highlights East Texas System Map The East Texas assets gather and process volumes produced primarily Belle Bower from the Austin Chalk, Woodbine and Travis Peak plays Capacity (MMcfd): 20.0…
Major Expansions Under Construction RGP Growth Project Capital Contract Type Completion Date ( in millions) Auburn/Korbin 25 Fee-based December 2014 Compression Stations Fee-based Mariner South Pipeline1 70 Q1 2015…
Maintain Stable Cash Flows: DCF Sensitivities DCF Sensitivity to Commodity Price Changes Balance of 2014 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 Bal 2014 FY 2015 FY 2016 Natural Gas/Ethane 74% 7% 0% Propane 52% 25% 0% Normal Butane 45% 23% 0% C5+/Condensate 79% 38% 24% 1 As…
Maintain Stable Cash Flows: Comprehensive Hedging Program Executed Hedges by Product1 Bal 2014 FY 2015 FY 2016 Price Price Price Bbls/d Bbls/d Bbls/d (/gal) (/gal) (/gal) Propane 3,989 1.05 1,900 1.05 - - Normal Butane 1,600…
Non-GAAP Reconciliation Three Months Ended June 30, 2014 March 31, 2014 December 31, 2013 September 30, 2013 June 30, 2013 March 31, 2013 ( in millions) Net income (loss) (4) 12 2 42 11 (29) Add: Interest expense, net 78 56 45 41 41…
Non-GAAP Reconciliation Three Months Ended June 30, Three Months Ended June 30, 2014 2013 2014 2013 ( in millions) ( in millions) Lone Star Joint Venture MEP Joint Venture Financial data: Financial data: Segment margin 149 96…
Non-GAAP Reconciliation Three Months Ended June 30, 2014 March 31, 2014 December 31, 2013 September 30, 2013 June 30, 2013 March 31, 2013 ( in millions) Net cash flows provided by operating activities 90 187 59 183 112 83 Add…
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