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CORPORATE UPDATE – Pembina Pipeline Corp

Pembina Pipeline Corp · Jan 29, 2015 · 42 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. CORPORATE UPDATE – Pembina Pipeline Corp – slide 1
    PEMBINA PIPELINE CORPORATION CORPORATE UPDATE TSX: PPL; NYSE: PBA January 2015
  2. CORPORATE UPDATE – Pembina Pipeline Corp – slide 2
    PEMBINA: A UNIQUE INVESTMENT OPPORTUNITY We are a pure play energy TSX: PPLNYSE: PBA infrastructure company that allows Common shares outstanding(1) 339 million investors to participate in the TSX common share trading price(1) 38.08…
  3. CORPORATE UPDATE – Pembina Pipeline Corp – slide 3
    PEMBINA'S BUSINESSES AT A GLANCE Conventional Pipelines 9,200 km network transports approx. 50% of Alberta's conventional crude oil & approx. 30% of western Canada's NGL Midstream 73,000 bpd fractionator; 21 truck terminals;…
  4. CORPORATE UPDATE – Pembina Pipeline Corp – slide 4
    ASSETS AND MAJOR PLAYS ALBERTA ATHABASCA OIL SANDS MONTNEY SEAL PELICANLAKE SWAN HILLS Gas Processing Plant Redwater Fractionator Midstream Storage Facility DEEP BASIN Truck Terminal Rail Terminal Pembina Conventional…
  5. CORPORATE UPDATE – Pembina Pipeline Corp – slide 5
    CUSTOMER FOCUSED VALUE CHAIN Conventional Gas Services Pipelines Midstream Mainline Extraction Gas/HVP Value Chain: Gathering and processing Transportation on Conventional Pipelines Gathering, Fractionation at Production…
  6. CORPORATE UPDATE – Pembina Pipeline Corp – slide 6
    FEE-FOR-SERVICE GROWTH PORTFOLIO Capital Committed Capital Expected In-Service Date*** Projects (all fee-for-service) In-Service (CMM) 1.9 Conventional Pipelines billion of capital Phase II Expansions* 695 2015 4,000 planned…
  7. CORPORATE UPDATE – Pembina Pipeline Corp – slide 7
    FEE-FOR-SERVICE CASH FLOWS 700-1,000 million of potential incremental EBITDA generated per year on a run-rate basis once Pembina's committed projects are all in- service(1) 8% 9% 13% 20% 71% 80% 2015 2018…
  8. CORPORATE UPDATE – Pembina Pipeline Corp – slide 8
    DOING THE IMPORTANT THINGS RIGHT Committed to delivering on our promises Continue to focus on de-risking overall business by pursuing fee- for-service projects and recontracting existing business Managing counterparty risk…
  9. CORPORATE UPDATE – Pembina Pipeline Corp – slide 9
    BUSINESS OVERVIEW
  10. CORPORATE UPDATE – Pembina Pipeline Corp – slide 10
    CONTRACT OVERVIEW BY BUSINESS Conventional Pipelines Gas Services Pembina is flexible to offer commercial framework to support Pembina is flexible to offer commercial framework to support customers needs customers needs Standard…
  11. CORPORATE UPDATE – Pembina Pipeline Corp – slide 11
    CONVENTIONAL PIPELINES Operational excellence ALBERTA 99% reliable FORT ST JOHN TAYLOR DUNVEGAN FORT MCMURRAY Proximal to prolific geology Q3 2014 throughput: 564 VALLEYVIEW mbpd (15% increase from Q3 GRANDE PRAIRIE SWAN…
  12. CORPORATE UPDATE – Pembina Pipeline Corp – slide 12
    SOLID BUSINESS PLATFORM 100% of revenue is fee-for-service No direct commodity exposure Tightening pipeline capacity has customers signing firm service (take-or-pay) arrangements Significant majority of base volumes under…
  13. CORPORATE UPDATE – Pembina Pipeline Corp – slide 13
    OUR EXPANSIONS COULD BRING CAPACITY TO 1.5 MILLION BPD 650,000 1,600 bpd of crude oil, condensate 1,508 mbpd and NGL under long-term 1,400 contract(1) 1,200 420 1,000 mbpd 800 55 53 52 40 600 175 400 200…
  14. CORPORATE UPDATE – Pembina Pipeline Corp – slide 14
    RECENTLY UPSIZED 2.44 BILLION PHASE III EXPANSION ALBERTA Upsizing expansion: new 16 pipeline FT. ST. JOHN from Fox Creek into Namao and new TAYLOR GORDONDALE 12 pipeline from Wapiti into Kakwa for a capital expenditure of 435…
  15. CORPORATE UPDATE – Pembina Pipeline Corp – slide 15
    NEBC MONTNEY EXPANSION BRITISH COLUMBIA Proposed Expansion Area 210 MM expansion, Pembina Blueberry System underpinned by long-term, Pembina's Other Pipelines Major Highways cost-of-service agreement with anchor shipper 160…
  16. CORPORATE UPDATE – Pembina Pipeline Corp – slide 16
    NEW PIPELINE ACQUISTION IN THE NORTH DAKOTA BAKKEN Acquired the Vantage HVP pipeline system for USD 650 million, including associated EDMONTON Fort Saskatchewan assets(1) Petrochemical Complex Pipeline originates in Tioga,…
  17. CORPORATE UPDATE – Pembina Pipeline Corp – slide 17
    OIL SANDS & HEAVY OIL Syncrude Pipeline Horizon Pipeline Operational excellence Cheecham Lateral Nipisi Pipeline 99+% reliable over Mitsue Pipeline Peace Pipeline operating history Diverse connectivity to various industry hubs…
  18. CORPORATE UPDATE – Pembina Pipeline Corp – slide 18
    SOLID BUSINESS PLATFORM PIPELINE SYSTEM SYNCRUDE HORIZON CHEECHAM NIPISI & MITSUE Contracted Capacity 389,000 250,000(1) 136,000 127,000 (bpd) Contract Type Cost-of-Service Fixed Return Fixed Return Fixed Return Initial Term…
  19. CORPORATE UPDATE – Pembina Pipeline Corp – slide 19
    GAS SERVICES Operational excellence Gas Processing Plant Redwater Fractionator 96% reliable PEACE PIPELINE Pembina Conventional MUSREAU GAS Pipelines Regional wells contain total PLANTS & DEEP CUT Pembina Gas Services…
  20. CORPORATE UPDATE – Pembina Pipeline Corp – slide 20
    SOLID BUSINESS PLATFORM Strategically positioned infrastructure in active and emerging NGL rich plays Provide gas gathering, compression and shallow/deep cut processing services 100% fee-for-service revenue (no direct commodity…
  21. CORPORATE UPDATE – Pembina Pipeline Corp – slide 21
    NEW GAS PLANT: MUSREAU III Planning to construct a new 100 MMcf/d shallow cut facility Musreau III with liquids capacity of 3,000 bpd Expected capital cost of 105 million Leverages engineering and design work from our existing…
  22. CORPORATE UPDATE – Pembina Pipeline Corp – slide 22
    NEW GAS PLANT ACQUISITION CANADA Acquired the in-development Saskatchewan Ethane Extraction Plant (SEEP) as part of Vantage acquisition Viewfield Plant Expected additional capital cost WEYBURN of 100 million to complete the…
  23. CORPORATE UPDATE – Pembina Pipeline Corp – slide 23
    RESTHAVEN EXPANSION Expanding the Resthaven facility by an incremental 100 MMcf/d - bringing total plant capacity to 300 MMcf/d(1) Constructing a 28 km 12 gathering pipeline to deliver gas into facility Expected additional…
  24. CORPORATE UPDATE – Pembina Pipeline Corp – slide 24
    EXPANDING TO MEET CUSTOMER DEMAND 1,600 80,000 1,463 MMcf/d 1,400 100 70,000 100 100 1,200 200 60,000 200 Bpd (NGL and C5 Output) 60 60 60 60 1,000 50,000 100 MMcf/d 130 800 40,000 200 600 30,000 61% 50 of…
  25. CORPORATE UPDATE – Pembina Pipeline Corp – slide 25
    NGL MIDSTREAM Map for illustrative Redwater West: purposes only. Gas Processing Plant 73 mbpd NGL fractionator and 7.8 mmbbls Redwater Fractionator of finished product cavern storage Midstream Storage Facility Truck Terminal…
  26. CORPORATE UPDATE – Pembina Pipeline Corp – slide 26
    NATURAL GAS LIQUIDS FRACTIONATION GROWTH 300 RFS II: 250 mbpd New 415 million 73 mbpd C2+ fractionator 250 Committed take-or-pay revenue streams for 10-year term from in-service date, for 55 97% of the operating capacity 200 9…
  27. CORPORATE UPDATE – Pembina Pipeline Corp – slide 27
    PROPANE EXPORT TERMINAL PROCESS Existing NGL Value Chain Western Canada Marine Terminal Propane export project would extend Pembina's NGL value chain participation 28
  28. CORPORATE UPDATE – Pembina Pipeline Corp – slide 28
    PROPOSED PORTLAND PROPANE EXPORT TERMINAL PROJECT Signed terminal agreement with the Port of Portland, Oregon to advance a propane export terminal Initially will plan to develop a 37,500 bpd propane export facility for expected…
  29. CORPORATE UPDATE – Pembina Pipeline Corp – slide 29
    PROPOSED LOCATION AND SITE LAYOUT The project would be on land adjacent to the east end of the Port of Portland's Marine Terminal 6 in North Portland, in the Rivergate Industrial District. 30
  30. CORPORATE UPDATE – Pembina Pipeline Corp – slide 30
    NGL SALT CAVERN STORAGE POTENTIAL 40 Cavern development: 38 MM bbls At Redwater, 13 caverns in-service 35 and 5 in development Significant demand in west and east 30 millions of barrels 25 20 2.6 15 10 17.5 5…
  31. CORPORATE UPDATE – Pembina Pipeline Corp – slide 31
    CRUDE OIL MIDSTREAM Develop and provide ALBERTA terminal, hub & storage services to support the energy industry FORT 630,000 barrels of TAYLOR MCMURRAY above ground crude oil and condensate storage capacity, with…
  32. CORPORATE UPDATE – Pembina Pipeline Corp – slide 32
    ABOVE GROUND STORAGE POTENTIAL 2,000 1.8 mmbbls 1,800 1,600 600 1,400 thousands of barrels 1,200 1,000 540 800 600 330 400 200 300 Existing Storage PNT-E PNT-E (Under Construction) PNT-H (Under…
  33. CORPORATE UPDATE – Pembina Pipeline Corp – slide 33
    PEMBINA NEXUS TERMINAL CANADIAN DILUENT HUB Crude oil Dilbit Synthetic Crude Diluent Heavy Export Red indicates Pembina- owned existing and proposed pipelines and connections Dashed lines and/or grey text indicates…
  34. CORPORATE UPDATE – Pembina Pipeline Corp – slide 34
    CANADIAN DILUENT HUB (CDH) NEW MARKET HUB FOR CONDENSATE/DILUENTS Pembina proposed pipelines and connections Pembina existing pipelines and connections Existing connections Proposed third party connections 350 million capital…
  35. CORPORATE UPDATE – Pembina Pipeline Corp – slide 35
    STRONG FINANCIAL PLATFORM
  36. CORPORATE UPDATE – Pembina Pipeline Corp – slide 36
    LIQUIDITY & ACCESS TO CAPITAL Access capital at attractive rates DRIP(1) currently raising 26 million per month Capital Structure(2) 1.5 billion credit facility: 385 million currently drawn(2) 4% 900 million of preferred shares…
  37. CORPORATE UPDATE – Pembina Pipeline Corp – slide 37
    DEBT METRICS Total Debt to EBITDA Funds from Operations / Total Debt 5.0x 35% 30% 4.0x 25% 3.0x 20% 2.0x 15% 10% 1.0x 5% 0.0x - 2010 2011 2012 (1) 2013 Q3 2014 2010 2011 2012 2013 Q3 2014 (TTM) (TTM) Total Debt / EBITDA…
  38. CORPORATE UPDATE – Pembina Pipeline Corp – slide 38
    CLEAN BALANCE SHEET A- 9.0x 8.0x BBB 7.0x BBB+ Baa2 Total Debt / TTM EBITDA* 6.0x BBB 5.0x Baa2 4.0x Ba2 3.0x NR BBB 2.0x 1.0x 0.0x Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Pembina…
  39. CORPORATE UPDATE – Pembina Pipeline Corp – slide 39
    SUMMARY
  40. CORPORATE UPDATE – Pembina Pipeline Corp – slide 40
    KEY TAKE-AWAYS Strategically located and well-established infrastructure Extensive asset footprint with high barriers to entry, serving long-life, economic hydrocarbon reserves Proven track record and management team History of safe…
  41. CORPORATE UPDATE – Pembina Pipeline Corp – slide 41
    MICK DILGER President & Chief Executive Officer SCOTT BURROWS Vice President & Chief Financial Officer Pembina Pipeline Corporation Phone 403-231-3156 www.pembina.com Fax 403-237-0254 Suite 3800, 525 8th Avenue S.W. Toll Free…
  42. CORPORATE UPDATE – Pembina Pipeline Corp – slide 42
    NON-GAAP AND ADDITIONAL GAAP MEASURES This presentation uses certain terms that are not defined by GAAP but are used by management of Pembina to evaluate Pembina's performance. Non-GAAP and additional GAAP financial measures do not have…

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