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Morgan Stanley Conference – Semgroup Corporation

Semgroup Corporation · Mar 4, 2014 · 18 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. Morgan Stanley Conference – Semgroup Corporation – slide 1
    Morgan Stanley Midstream MLP and Diversified Natural Gas Corporate Access Event March 2014
  2. Morgan Stanley Conference – Semgroup Corporation – slide 2
    Non-GAAP Financial Measures SemGroup Adjusted EBITDA is presented in this presentation for certain periods. Adjusted EBITDA is not a U.S. generally accepted accounting principles (GAAP) measure and is not intended to be used in lieu of a…
  3. Morgan Stanley Conference – Semgroup Corporation – slide 3
    Two Public Companies SemGroup Corporation Rose Rock Midstream C-Corp assets in US, Canada, Mexico & UK Master Limited Partnership (MLP) General Partner of RRMS IPO December 2011 Publicly Traded November 2010 Units: 26.7 million…
  4. Morgan Stanley Conference – Semgroup Corporation – slide 4
    SemGroup Ownership Structure 5
  5. Morgan Stanley Conference – Semgroup Corporation – slide 5
    Business Strategy Capitalize on Organic Generate Consistent Growth Opportunities Operating Margins, with Existing and Earnings and Cash New Assets Flows Grow Our Business Maintain Financial Through Strategic and Flexibility…
  6. Morgan Stanley Conference – Semgroup Corporation – slide 6
    Crude and Gas Assets in Key Growth Areas 7
  7. Morgan Stanley Conference – Semgroup Corporation – slide 7
    Crude Business Overview SemGroup Corporation White Cliffs Pipeline 17% ownership DJ Basin to Cushing, OK 527-mile, 12-inch pipeline 76,000 bpd current capacity 80,000 bpd expansion mid-2014 completion Glass Mountain Pipeline…
  8. Morgan Stanley Conference – Semgroup Corporation – slide 8
    Crude Business Overview Rose Rock Midstream Cushing Kansas/Oklahoma System 7.6 million barrels of storage 640-mile gathering and transportation pipeline system 93% under long-term fixed fee contracts with first Currently operating at…
  9. Morgan Stanley Conference – Semgroup Corporation – slide 9
    Crude Key Performance Metrics Cushing Storage Capacity Transportation Volumes(2) 7.6 million barrels (Thousand Barrels per Day) 7.10 7.10 7.10 6.50 3.30 1.80 Cushing Contracts(1) Uncontracted Operational Capacity Under…
  10. Morgan Stanley Conference – Semgroup Corporation – slide 10
    Natural Gas Business Overview SemCAMS (Canada) Located in: Western Canadian Sedimentary Basin sour gas Montney Shale liquids rich sour gas Duvernay Shale liquids rich sweet gas Two sour and two sweet natural gas processing plants…
  11. Morgan Stanley Conference – Semgroup Corporation – slide 11
    SemGas Northern Oklahoma Processing Mississippi Lime Play Northern Oklahoma System 4Q 2013 1Q 2014 1Q 2016 Processing Capacity 165 mmcf/d 365 mmcf/d 565 mmcf/d Miles of Pipeline 600 of Rigs in Dedicated Acreage 15 Avg. Processing…
  12. Morgan Stanley Conference – Semgroup Corporation – slide 12
    SemGroup Capitalization & Liquidity (in millions) December 31, 2013 December 31, 2012 Total Consolidated Debt 615 206 Owner's Equity 1,214 1,022 Total Book Capitalization 1,829 1,228 Consolidated Credit Metrics Net Debt 536 126…
  13. Morgan Stanley Conference – Semgroup Corporation – slide 13
    SemGroup Corporation 2014 Capital Expenditure Guidance 2014 Capital Expenditures 415 million(1) More than 85% of capital expenditures are focused on growth 133 capital 32% 219 53% Mid-teens or higher returns on organic growth…
  14. Morgan Stanley Conference – Semgroup Corporation – slide 14
    SemGroup Corporation 2014 Capital Expenditure Guidance Project Spend (in millions) Estimated Through Total Segment Description Completion Date 12/31/2013 2014 Capex 2015 Capex CapEx Crude-RRMS White Cliffs Pipeline expansion (1)…
  15. Morgan Stanley Conference – Semgroup Corporation – slide 15
    2013 Results & Updated 2014 Guidance SemGroup Corporation Rose Rock Midstream 2013 2013 (in millions, unaudited) Initial Guidance(1) 2013 Actuals (in millions, unaudited) Initial Guidance(2) 2013 Actuals Adjusted EBITDA 165 - 175…
  16. Morgan Stanley Conference – Semgroup Corporation – slide 16
    SemGroup Segment Results Year Ended Segment Adjusted EBITDA(1) (in millions, unaudited) 4Q 2013 3Q 2013 2Q 2013 1Q 2013 Dec. 2013 Dec. 2012 Crude(2) 31.0 25.1 24.6 25.9 106.6 85.8 SemGas 12.0 10.1 7.7 3.9 33.7 8.8 SemCAMS 9.6 11.8…
  17. Morgan Stanley Conference – Semgroup Corporation – slide 17
    SemGroups Fee-based Business Model Margin Contribution(1) Fixed Fee Variable Fee Marketing 86% SemGas(2) 35% 65% SemCAMS 100% SemLogistics 100% 9% SemMaterials Mexico 100% 5% White Cliffs Pipeline 100% Rose Rock Midstream(3)…
  18. Morgan Stanley Conference – Semgroup Corporation – slide 18
    Future Growth in Drop Downs Rose Rock Midstreams relationship with SemGroup allows for potential future drop downs Asset Description 527-mile crude oil pipeline - 76,000 bpd capacity White Cliffs Pipeline Incremental 80,000 bpd…

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