Morgan Keegan MLP Conference May 18 th, 2010
|
|
- Evangeline Lawrence
- 5 years ago
- Views:
Transcription
1 Morgan Keegan MLP Conference May 18 th,
2 Forward Looking Statements This presentation contains forward looking statements within the meaning of the federal securities laws. Forward looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. The future results of Crosstex Energy, L.P. and its affiliates (collectively known as Crosstex ) may differ materially from those expressed in the forward looking statements contained throughout this presentation and in documents filed with the SEC. Many of the factors that will determine these results are beyond Crosstex s ability to control or predict. These statements are necessarily based upon various assumptions involving judgments with respect to the future, including, among others, the ability to achieve synergies and revenue growth; national, international, regional and local economic, competitive and regulatory conditions and developments; technological developments; capital markets conditions; inflation rates; interest rates; the political and economic stability of oil producing nations; energy markets; weather conditions; business and regulatory or legal decisions; the pace of deregulation of retail natural gas and electricity; the timing and success of business development efforts; and other uncertainties. You are cautioned not to put undue reliance on any forward looking statement. Crosstex has no obligation to publicly update or revise any forward looking statement, whether as a result of new information, future events or otherwise. 2
3 Strategically Positioned for Performance and Growth Well positioned assets Lean organization Financially strong Poised to take advantage of the macro environment Focused on long term growth 3
4 We Navigated the Storm $12 Crosstex Energy LP (XTEX) $10 Crosstex announces sale of Treating assets for $266 MM Crosstex announces acquisition of Intracoastal and sale of ETX assets Crosstex completes long term refinancing ($725 MM bonds & $425 MM Credit Facility) $8 Crosstex announces sale of South Texas and Miss./Ala. assets for $220 MM $6 $4 Crosstex announces $125 MM of Equity from GSO/Blackstone $2 $0 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 4
5 We Span the Value Chain Focused Midstream Company Midstream energy services company focused on full value chain Assets strategically located in key producing areas and market regions Focus on Barnett and Haynesville shale plays Diversity of Services Over 3,300 miles of natural gas gathering and transmission pipeline 9 natural gas processing plants 2 fractionators Over 400 miles of NGL pipeline 2.4 MM barrels of NGL storage capacity Transmission Lines Natural Gas Consumers Gathering, Dehydration & Compression NGL Transportation & Fractionation NGL Markets Wellhead Processing, Conditioning & Treating 5
6 Crosstex Corporate Structure GSO Crosstex Holdings Public Unitholders 51% 25% 22% Public/Other Shareholders 87% Crosstex Energy, Inc. (NASDAQ: XTXI) 100% Crosstex Energy GP, L.P. 2% Crosstex Energy, L.P. (NASDAQ: XTEX) Directors / Executive Officers 13% 2% GP Interest 100% IDRs Crosstex Energy Services, L.P. All Assets and Operations 6
7 Strategically Positioned Assets North Texas ~780 miles of pipeline 3 processing plants LIG ~2,100 miles of pipeline 2 processing plants Processing & NGLs ~440 miles of NGL pipeline 4 processing plants 2 fractionation facilities 2009 Operated Income ($MM) $23 $80 $113 NTX LIG PNGL 7
8 Strategically Positioned Organizationally Successful execution has created momentum Lean, focused organization Front line management focused on continued execution Significant acquisition and organic growth experience Board of directors provides strong support 8
9 Strategically Positioned Financially Strong balance sheet Disciplined financial guidelines Continue to de leverage, de risk Business Use highly predictable cash flows to set distributions Allocate capital to high return projects 9
10 Strategically Positioned for the Macro Environment Wide gas to crude relationship is expected to continue EIA predicts demand will grow from 53 Bcf/d in 2010 to 70 Bcf/d in 2025 Unconventional gas basins will fill this gap Shift in supply will drive need for new infrastructure XTEX is well positioned to take advantage of this trend 10
11 Shales will Provide Significant Opportunities $8.0 $7.0 $6.0 $5.0 $4.20 $3.90 $4.00 $4.0 $3.70 $3.50 $3.50 $3.50 $3.0 $2.0 Source: Modified from Morgan Stanley Jan. 13, 2010 E&P Research Report * NYMEX Henry Hub as of 05/04/10 $5.00 $5.40 $ Deep Bossier (E. Texas) Granite Wash (Horizontal) Haynesville Fayetteville (2.6 Bcf) Marcellus Woodford (Anadarko) Barnett (Core/Tier 1) Eagleford Powder River (CBM) Piceance (Highlands) NYMEX Prices Needed to Achieve 10% IRR * Current 2010/2011 NYMEX Strip
12 Strategically Positioned for Long-Term Growth Macro environment will provide opportunities Capitalize on strategic positions around core assets Focus on high return projects Continue to reduce risk in the business Disciplined financial guidelines will guide growth Clear path to restoring distributions and dividends 12
13 North Texas 13
14 NTX: Strategically Positioned in the Barnett Shale Well Positioned Assets (current capacity) : North Texas Gathering Systems North Texas Pipeline Processing Plant NTPL 375 MMcfd NTX Gathering Assets 1 Bcfd + Azle plant 50 MMcfd Goforth plant 30 MMcfd Silvercreek plant 200 MMcfd 14
15 NTX: Operating Income NTX G&T Op Income NTX Processing Op Income $140,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $ Note: 2010 represents mid point of guidance 15
16 Diverse Customer Base 16
17 NSAI s Barnett Shale Volume Projections Source: Netherland, Sewell & Associates, Inc. 17
18 NTX: Strategically Positioned for Long-Term Growth Majors have moved into the Barnett Shale NSAI study projects that over 50% of future production will occur within 3 miles of our existing infrastructure To date over 12,000 successful wells have been drilled 14,000 additional locations to drill ~85% of Crosstex dedicated acres are in Core/Tier 1 Major infrastructure already in place to provide service for base case volumes 18
19 LIG 19
20 LIG: Strategically Located Assets Well Positioned Assets (current capacity) : LIG 1Bcfd+ Gibson Plant 145 MMcfd Plaquemine Plant 225 MMcfd LIG System NGL System Processing Plant 20
21 LIG: Operating Income LIG Mktg. & Transport Op Income LIG Processing Op Income $90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $ Note: 2010 represents mid point of guidance 21
22 Diverse Customer Base 22
23 Haynesville Provides Abundant Near- Term Opportunities Haynesville Projects Capacity MMcf/d Contract In Service Total Contracted Term N. LIG Contracted Projects Red River Project Q yr North LIG Expansion Phase I Q yr North LIG Expansion Phase II Q yr Black Lake Interconnect Phase III Part I Q yr Red River Amine Unit (120 MMcf/d Capacity) Q yr Black Lake Interconnect Phase III Part II Q yr LIG Phase IV Expansion Part I Q yr Total Contracted Current Expansion Project Partial System Loop; Phase IV Expansion Part II Q est 115 Working All Projects
24 LIG: Strategically Positioned for Long-Term Growth Franchise position Exceptional connectivity to interstate markets Access to river market on S. LIG All N. LIG volumes are firm transport Highly attractive inventory of growth projects 24
25 Processing and NGL s 25
26 PNGL: Strategically Located Assets LIG System NGL System Processing Plant Intracoastal 26
27 PNGL: Operating Income $45,000,000 $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $ Note: 2010 represents mid point of guidance 27
28 Diverse Customer Base 28
29 PNGL: Strategically Positioned for Long-Term Growth Favorable processing environment Improved GOM drilling and recent lease sales encouraging Potential consolidation opportunities Fractionation capacity constraints Recent Acquisitions: Eunice Intracoastal pipeline Increased rich gas production creates opportunities 29
30 Financial Overview 30
31 Summary Operating Income Operating Income ($ MM) (3) North Texas $103 $113 $111 LIG $82 $80 $74 PNGL (1) $12 $23 $35 Shared Operating Exp. & Other ($14) ($14) ($13) Total Continuing Operations $183 $202 $207(4) Discontinued Operations(2) $91 $50 $0 Total $274 $252 $207 (1) Includes impact of Eunice lease buy out in 2009 and Intracoastal acquisition $2 MM impact in 2009 and $13 MM impact in 2010 (2) Includes contributions from sold assets (STX, Miss, Ala, Treating, Seminole interest, Arkoma, and ETX) (3) 2010 represents mid point of guidance (4) 2010 continuing operations includes ~$8MM in LC Fee s that are re classed as interest expense 31
32 Gross Margin By Contract Type Ex Discontinued Ops Non commodity based margins have increased from ~68% in 2008 to ~87% in G& T Fee POL Proc Margin 2009 G& T Fee POL Proc Margin 2010 G& T Fee POL Proc Margin 15% 9% 11% 2% 13% 17% 16% 58% 12% 10% 66% 71% 32
33 Growth & Maintenance Capital Crosstex has significantly scaled back growth capital spending Focused on execution of projects within the operating footprint Scalable nature of current asset base generates high return projects Low maintenance requirements on existing assets Historical and Projected Growth Capital Expenditures ($ in millions) $500 $400 $404 Historical and Projected Maintenance Capital Expenditures ($ in millions) $20 $16 $18 $15 * $300 $259 $12 $11 $11 $200 $136 $8 $100 $ $ * Represents low end of 2010 guidance * $4 $
34 Guidance for 2010 Total Year 2010 Low High Net income $ (41) $ (10) Depreciation and amortization Stock based compensation 6 6 LOC Fees & Interest Taxes and other 2 2 Adjusted EBITDA $ 160 $ 190 Taxes and other $ (3) $ (3) LOC Fees & Interest $ (80) $ (79) Maintenance capital expenditures $ (15) $ (12) Distributable cash flow $ 62 $ 96 Growth Capital $ 25 $ 30 Key Assumptions for Forecast Weighted Average Liquids Price ($/gallon) $ 0.80 $ 1.09 Crude ($/Bbl) $ $ Natural Gas ($/MMBtu) $ 6.00 $ 5.00 Natural Gas Liquids to Gas Ratio 149.9% 245.0% XTEX Distribution per Unit $ 0.30 XTXI Dividends per Share $
35 Conservative Financial Guidelines Maintain a conservative capital structure and leverage ratios Maintain adequate liquidity Fund organic growth and strategic opportunities with internal cash flows and a balanced mix of debt and equity Maintain a balanced contract mix and an active commodity price hedging program 35
36 Strategically Positioned Financially Strong balance sheet Disciplined financial guidelines Continue to de leverage, de risk Business Use highly predictable cash flows to set distributions Allocate capital to high return projects Clear path to restoring dividends and distribution 36
37 Q & A 37
38 Appendix 38
39 Reconciliation to Net Income Net Income to DCF Reconciliation: Years Ended ($ in millions) December (Unaudited) Net income (loss) attributable to Crosstex Energy, L.P. $ 104 $ 11 Depreciation, amortization and impairments (1) Stock based compensation 9 11 Interest expense, net (2) Loss on extinguishment of debt 5 Gain on sale of property (184) (51) Taxes and other 8 6 Adjusted EBITDA Interest (2)(3)(4) (121) (83) Cash taxes and other (5) (3) (3) Maintenance capital expenditures (11) (18) Distributable cash flow $ 68 $ 141 (1) Excludes minority interest share of depreciation and amortization of $290 and $286K for the year ended 2009 and the year ended 2008 respectively. Includes depreciation, amortization and impairments related to discontinued operations of $10.7 and $26.4 million for the year ended 2009 and the year ended 2008 respectively. (2) Includes interest expense allocated to discontinued operations of $34.9 and $30.0 million for the year ended 2009 and the year ended 2008, respectively. (3) Excludes $4.3 million of debt issuance cost amortization, and $5.2 million of senior secured note make whole and call premium paid in kind interest resulting from repayment of such notes from the proceeds of asset sales, for the year ended (4) Excludes noncash interest rate swap mark to market of ($797K) for the year ended 2009, and $22.1 million for the year ended (5) Includes Seminole Adjustment of $39 million for the year ended
UBS MLP 1v1 Conference September 1 & 2, 2010
UBS MLP 1v1 Conference September 1 & 2, 2010 1 Forward Looking Statements This presentation contains forward looking statements within the meaning of the federal securities laws. Forward looking statements
More informationWells Fargo 8th Annual Pipeline and MLP Symposium. December 8 th, 2009 Bill Davis, Chief Financial Officer
Wells Fargo 8th Annual Pipeline and MLP Symposium December 8 th, 2009 Bill Davis, Chief Financial Officer 1 Forward Looking Statements This presentation contains forward looking statements within the meaning
More informationForward Looking Statements
January 2010 1 Forward Looking Statements This presentation contains forward looking statements within the meaning of the federal securities laws. Forward looking statements are not guarantees of performance.
More informationOur VISION: we will be the. Our MISSION: for our customers, the quality of life for our employees and the returns for our stakeholders.
opportunity Our VISION: we will be the best midstream energy solutions provider. Our MISSION: to provide MIDSTREAM energy services TO improve the quality of business for our customers, the quality of life
More informationRBC Capital Markets 2013 MLP Conference
RBC Capital Markets 2013 MLP Conference November 21, 2013 RIGHT PLATFORM. RIGHT OPPORTUNITIES. RIGHT PEOPLE. 1 Forward-Looking Statements & Non-GAAP Financial Information This presentation contains forward
More information2012 Wells Fargo Pipeline, MLP and Energy Symposium December 4, 2012
2012 Wells Fargo Pipeline, MLP and Energy Symposium December 4, 2012 Forward Looking Statements This presentation contains forward looking statements within the meaning of the federal securities laws.
More informationWells Fargo Pipeline, MLP & Energy Symposium
Wells Fargo Pipeline, MLP & Energy Symposium Barry E. Davis President & Chief Executive Officer December 11, 2013 RIGHT PLATFORM. RIGHT OPPORTUNITIES. RIGHT PEOPLE. 1 Forward-Looking Statements & Non-GAAP
More informationAnalyst Conference March 27, 2012
Analyst Conference March 27, 2012 Forward Looking Statements This presentation contains forward looking statements within the meaning of the federal securities laws. Forward looking statements are not
More informationRBC Capital Markets MLP Conference
RBC Capital Markets MLP Conference November 18, 2015 Strong. Innovative. Growing. 1 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities
More informationGoldman Sachs Power, Utilities, MLP & Pipeline Conference. August 11, 2015 Strong. Innovative. Growing.
Goldman Sachs Power, Utilities, MLP & Pipeline Conference August 11, 2015 Strong. Innovative. Growing. 1 Forward-Looking Statements This presentation contains forward-looking statements within the meaning
More informationEnable Midstream Partners, LP
Enable Midstream Partners, LP MLPA 2016 Investor Conference June 3, 2016 Forward-looking Statements This presentation and the oral statements made in connection herewith may contain forward-looking statements
More information2014 MASTER LIMITED PARTNERSHIP INVESTOR CONFERENCE MAY 22, 2014
2014 MASTER LIMITED PARTNERSHIP INVESTOR CONFERENCE MAY 22, 2014 FORWARD-LOOKING STATEMENTS Certain statements and information in this presentation may constitute forward-looking statements. The words
More informationSimplification Overview and
Simplification Overview and Q1 Presentation 2015 Financial Title & Operating Results Presentation Subtitle 5/5/2015 May 6, 2015 Crestwood Midstream Partners LP Crestwood Equity Partners LP Forward-Looking
More informationTudor Pickering Holt & Co. Midstream / Chemicals / NGL Conference
Tudor Pickering Holt & Co. Midstream / Chemicals / NGL Conference March 19, 2014 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities
More informationCiti One-On-One MLP / Midstream Infrastructure Conference. August 20, 2014 Strong. Innovative. Growing.
Citi One-On-One MLP / Midstream Infrastructure Conference August 20, 2014 Strong. Innovative. Growing. 1 Forward-Looking Statements This presentation contains forward-looking statements within the meaning
More informationUBS One-on-One MLP Conference
UBS One-on-One MLP Conference January 13, 2015 Strong. Innovative. Growing. 1 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities
More informationEnable Midstream Partners, LP. Fourth Quarter 2018 Investor Presentation
Enable Midstream Partners, LP Fourth Quarter 2018 Investor Presentation Forward-looking Statements Some of the information in this presentation may contain forward-looking statements. Forward-looking statements
More informationEnable Midstream Partners, LP
Enable Midstream Partners, LP Fourth Quarter 2014 Conference Call February 18, 2015 Forward-looking Statements This presentation and the oral statements made in connection herewith may contain forward-looking
More informationNAPTP Annual MLP Investor Conference NASDAQ: CPNO. May 12, 2010
NAPTP Annual MLP Investor Conference NASDAQ: CPNO May 12, 2010 Disclaimer Statements made by representatives of Copano Energy, L.L.C. ( Copano ) during this presentation will include forward-looking statements,
More informationCHESAPEAKE MIDSTREAM DEVELOPMENT ACQUISITION DECEMBER 11, 2012
CHESAPEAKE MIDSTREAM DEVELOPMENT ACQUISITION DECEMBER 11, 2012 TRANSACTION OVERVIEW ACMP Acquisition of CHK Midstream Assets (CMD) ACMP to acquire a substantial majority of Chesapeake Energy s remaining
More informationInvestor Presentation. March 2014
Investor Presentation March 2014 Forward Looking Statements This presentation contains forward looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees
More informationSecond Quarter 2016 Earnings Call Presentation August 3, 2016
Second Quarter 216 Earnings Call Presentation August 3, 216 FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements. All statements, other than statements of historical facts,
More informationEnable Midstream Partners, LP
Enable Midstream Partners, LP Fourth Quarter 2016 Conference Call February 21, 2017 Forward-looking Statements This presentation and the oral statements made in connection herewith may contain forward-looking
More informationEnable Midstream Partners, LP
Enable Midstream Partners, LP MLPA 2017 Investor Conference Presentation Rod Sailor President & CEO June 1, 2017 Forward-Looking Statements This presentation and the oral statements made in connection
More informationCredit Suisse MLP & Energy Logistics Conference
Credit Suisse MLP & Energy Logistics Conference June 23, 2015 Strong. Innovative. Growing. 1 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the federal
More informationInvestor Presentation. January 4, 2017
Investor Presentation January 4, 2017 Forward-Looking Statements Cautionary Statement Regardng Forward-Looking Statements This presentation contains or incorporates by reference forward-looking statements
More informationENERGY TRANSFER EQUITY, L.P.
ENERGY TRANSFER EQUITY L.P. Credit Suisse Conference June 23 2015 Jamie Welch Group CFO DISCLAIMER This presentation relates to a presentation the management of Energy Transfer Equity L.P. (ETE) will give
More informationInvestor Presentation. March 2-4, 2015 Strong. Innovative. Growing.
Investor Presentation March 2-4, 2015 Strong. Innovative. Growing. 1 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities laws.
More informationFirst-Quarter 2012 Earnings Conference Call. Clearfield Energy, Inc. Acquisition
First-Quarter 2012 Earnings Conference Call Clearfield Energy, Inc. Acquisition May 8, 2012 Forward Looking Statements This presentation contains forward looking statements within the meaning of the federal
More informationEnable Midstream Partners, LP
Enable Midstream Partners, LP Second Quarter 2015 Conference Call August 5, 2015 Forward-looking Statements This presentation and the oral statements made in connection herewith may contain forward-looking
More informationPTXP Update: Operations and Events
Investor Presentation August 2016 Disclaimer Forward-Looking Statements This presentation includes forward-looking statements. Forward-looking statements give our current expectations, contain projections
More information2012 Wells Fargo Securities Research & Economics 11 th Annual Pipeline, MLP and Energy. Symposium
2012 Wells Fargo Securities Research & Economics 11 th Annual Pipeline, MLP and Energy Symposium December 4-5, 2012 Forward-Looking Statements Under the Private Securities Litigation Act of 1995 This document
More informationRight Platform. Right Opportunities. Right People. Louisiana Fractionation Expansion Chris Tennant, Vice President - Commercial September 24,
Right Platform. Right Opportunities. Right People. Louisiana Fractionation Expansion Chris Tennant, Vice President - Commercial September 24, 2013 1 Forward-Looking Statements This presentation contains
More informationSecond Quarter 2018 Update
PEOPLE PROCESS TECHNOLOGY Second Quarter 2018 Update August 8, 2018 Earnings Call Forward-Looking Statements Under the Private Securities Litigation Act of 1995 This document may contain or incorporate
More informationUSA Compression Partners, LP Jefferies Global Energy Conference 2013 November 13, 2013
USA Compression Partners, LP Jefferies Global Energy Conference 2013 November 13, 2013 Disclaimers This presentation contains forward-looking statements relating to the Partnership s operations that are
More informationJANUARY 23, 2017 FOCUS ON PEOPLE STRIVE FOR EXCELLENCE BE ETHICAL DELIVER RESULTS
2017 GUIDANCE JANUARY 23, 2017 FOCUS ON PEOPLE STRIVE FOR EXCELLENCE BE ETHICAL DELIVER RESULTS BE GOOD STEWARDS FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements within
More informationCHESAPEAKE MIDSTREAM PARTNERS MARCELLUS ACQUISITION
CHESAPEAKE MIDSTREAM PARTNERS MARCELLUS ACQUISITION DECEMBER 2011 ACCESSING THE GROWTH PLATFORM! Best in Class Midstream Business Model Differentiated Growth Platform Marcellus Acquisition Transaction
More informationCONE Midstream Partners LP. Capital Link MLP Investing Forum March 5, 2015
CONE Midstream Partners LP Capital Link MLP Investing Forum March 5, 2015 Disclaimer Forward Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities
More information2018 Update and 2019 Outlook
PEOPLE PROCESS TECHNOLOGY 2018 Update and 2019 Outlook February 12, 2019 Earnings Call Forward-Looking Statements Under the Private Securities Litigation Reform Act of 1995 This document may contain or
More informationChesapeake Midstream Partners Springridge Acquisition December 2010
Chesapeake Midstream Partners Springridge Acquisition December 2010 NYSE: CHKM www.chkm.com Best in Class MLP Gets Better! Best in Class Midstream Business Model Differentiated Growth Platform Haynesville
More informationEnable Midstream Partners, LP
Enable Midstream Partners, LP Third Quarter 2014 Conference Call November 4, 2014 Forward-looking Statements This presentation and the oral statements made in connection herewith may contain forward-looking
More informationCROSSTEX ENERGY LP FORM 8-K. (Current report filing) Filed 11/04/11 for the Period Ending 11/04/11
CROSSTEX ENERGY LP FORM 8-K (Current report filing) Filed 11/04/11 for the Period Ending 11/04/11 CIK 0001179060 Symbol XTEX SIC Code Industry Oil Well Services & Equipment Sector Energy Fiscal Year 12/31
More informationEnable Midstream Partners, LP
Enable Midstream Partners, LP Second Quarter 2016 Conference Call August 3, 2016 Non-GAAP Financial Measures The Partnership has included the non-gaap financial measures gross margin, Adjusted EBITDA,
More informationTULSA MLP CONFERENCE. Tulsa, OK November 15, 2016
TULSA MLP CONFERENCE Tulsa, OK November 15, 2016 DEREK REINERS Senior Vice President, Chief Financial Officer and Treasurer Page 2 FORWARD-LOOKING STATEMENTS Statements contained in this presentation that
More informationW E L L S FA R G O E N E R G Y S Y M P O S I U M. N e w Y o r k D e c. 6-7
W E L L S FA R G O E N E R G Y S Y M P O S I U M N e w Y o r k D e c. 6-7 T E R RY S P E N C E R P R E S I D E N T A N D C H I E F E X E C U T I V E O F F I C E R Mont Belvieu II fractionator Gulf Coast
More informationWELLS FARGO ENERGY SYMPOSIUM. New York Dec. 6, 2016
WELLS FARGO ENERGY SYMPOSIUM New York Dec. 6, 2016 TERRY K. SPENCER President and Chief Executive Officer Page 2 FORWARD-LOOKING STATEMENTS Statements contained in this presentation that include company
More information3 RD Q U A R T E R
3 RD Q U A R T E R 2 0 1 7 OPERATIONS REPORT O C T O B E R 3 1, 2 0 1 7 FOCUS ON PEOPLE STRIVE FOR EXCELLENCE BE ETHICAL DELIVER RESULTS BE GOOD STEWARDS INVESTOR NOTICE This presentation contains forward-looking
More informationI N V E S T O R U P D AT E M A R C H
I N V E S T O R U P D AT E M A R C H 2 0 1 8 F O RWA R D - L O O K I N G S TAT E M E N T S Statements contained in this presentation that include company expectations or predictions should be considered
More informationCrestwood Announces First Quarter 2018 Financial and Operating Results
NEWS RELEASE Crestwood Announces First Quarter 2018 Financial and Operating Results 5/1/2018 Adjusted EBITDA increased 12% year-over-year driven by a 23% increase in G&P segment EBITDA Increased year-over-year
More informationInvestor Presentation. December 2016
Investor Presentation December 2016 Forward-Looking Statements Under the Private Securities Litigation Act of 1995 This document may contain or incorporate by reference forward-looking statements as defined
More informationMorgan Stanley Marcellus-Utica Conference
Morgan Stanley Marcellus-Utica Conference September 19, 2012 www.enterpriseproducts.com All rights reserved. Enterprise Products Partners L.P. Randy Fowler EVP & CFO Forward Looking Statements This presentation
More informationThird Quarter 2018 Earnings Call
PEOPLE PROCESS TECHNOLOGY Third Quarter 2018 Earnings Call November 6, 2018 Forward-Looking Statements Under the Private Securities Litigation Reform Act of 1995 This document may contain or incorporate
More informationFINANCIAL & OPERATIONAL GUIDANCE
2018 FINANCIAL & OPERATIONAL GUIDANCE February 6, 2018 FOCUS ON PEOPLE STRIVE FOR EXCELLENCE BE ETHICAL DELIVER RESULTS BE GOOD STEWARDS FORWARD-LOOKING STATEMENTS This presentation contains forward-looking
More informationFIXED INCOME INVESTOR UPDATE. July 2017
FIXED INCOME INVESTOR UPDATE July 2017 FORWARD-LOOKING STATEMENTS Statements contained in this presentation that include company expectations or predictions should be considered forward-looking statements
More informationRegency Energy Partners LP NAPTP MLP Investor Conference May 22, 2013
Regency Energy Partners LP NAPTP MLP Investor Conference May 22, 2013 Forward Looking Statements and Other Disclaimers This presentation includes forward looking statements. Forward looking statements
More informationMidcoast Energy Partners, L.P. Investment Community Presentation. March 2014
Midcoast Energy Partners, L.P. Investment Community Presentation March 2014 Forward Looking Statement This presentation includes forward-looking statements, which are statements that frequently use words
More information2015 Jefferies Energy Conference Pete Bowden Global Head of Midstream Energy Investment Banking November Jefferies LLC Member SIPC
2015 Jefferies Energy Conference Pete Bowden Global Head of Midstream Energy Investment Banking November 2015 Jefferies LLC Member SIPC Current Macro Environment 1 Production / Consumption (MMBbl/d) Stock
More informationAntero Resources Reports Second Quarter 2017 Financial and Operational Results and Increases 2017 Production Guidance
NEWS RELEASE Antero Resources Reports Second Quarter 2017 Financial and Operational Results and Increases 2017 Production Guidance 8/2/2017 DENVER, Aug. 2, 2017 /PRNewswire/ -- Antero Resources Corporation
More informationI N V E S T O R U P D AT E. A u g u s t
I N V E S T O R U P D AT E A u g u s t 2 0 1 8 F O RWA R D - L O O K I N G S TAT E M E N T S Statements contained in this presentation that include company expectations or predictions should be considered
More informationMorgan Keegan Equity Conference
Morgan Keegan Equity Conference September 5, 2008 Randy Fowler Executive Vice President & CFO Forward Looking Statements This presentation contains forward-looking statements and information based on Enterprise
More informationJefferies 2012 Global Energy Conference
Jefferies 2012 Global Energy Conference November 29, 2012 NASDAQ: CPNO 1 Disclaimer Forward-Looking Statements This presentation includes forward-looking statements, as defined in the federal securities
More informationAntero Resources Reports First Quarter 2018 Financial and Operating Results
Antero Resources Reports First Quarter 2018 Financial and Operating Results Denver, Colorado, April 25, 2018 Antero Resources Corporation (NYSE: AR) ( Antero or the Company ) today released its first quarter
More informationJefferies Global Energy Conference November 28, NYSE: NFX
Jefferies Global Energy Conference November 28, 2012 www.newfield.com NYSE: NFX 1. Transition to an Oil Company is Real Oil/Liquids to be >50% of Total Production in 4Q 12 2. Oil/Liquids Growth Driving
More informationI N V E S T O R U P D AT E M A Y
I N V E S T O R U P D AT E M A Y 2 0 1 8 F O RWA R D - L O O K I N G S TAT E M E N T S Statements contained in this presentation that include company expectations or predictions should be considered forward-looking
More informationRaymond James Institutional Investors Conference
Raymond James Institutional Investors Conference March 9, 2009 W. Randall Fowler Executive Vice President & CFO Forward Looking Statements This presentation contains forward-looking statements and information
More informationWachovia Securities Pipeline & MLP Symposium
Wachovia Securities Pipeline & MLP Symposium New York City December 6, 2007 Page 1 John W. Gibson Chairman, President and Chief Executive Officer ONEOK Partners, L.P. Page 2 Forward-Looking Statementt
More informationChesapeake Energy 2017 Q3 Earnings NOVEMBER 2, 2017
Chesapeake Energy Q3 Earnings NOVEMBER 2, FORWARD-LOOKING STATEMENTS This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E
More informationTarga Resources Corp. (NYSE:TRGP)
Targa Resources Corp. (NYSE:TRGP) Investor Presentation March 2015 Forward Looking Statements Certain statements in this presentation are "forward-looking statements" within the meaning of Section 27A
More informationAtlas Pipeline Partners, L.P.
Atlas Pipeline Partners, L.P. NYSE: APL 6 th Annual Wachovia Pipeline & MLP Symposium New York, NY December 6, 2007 1 Safe Harbor Statement THE WORDS BELIEVES, ANTICIPATES, EXPECTS AND SIMILAR EXPRESSIONS
More informationShea Snyder. Devon Energy and Crosstex Energy to Create New Midstream Business
News Release Devon Investor Contacts Scott Coody Shea Snyder 405 552 4735 405 552 4782 Devon Media Contact Chip Minty 405 228 8647 Crosstex Investor & Media Contact Jill McMillan 214 721 9271 Devon Energy
More informationCITI MLP/MIDSTREAM INFRASTRUCTURE CONFERENCE. Las Vegas, NV Aug , 2016
CITI MLP/MIDSTREAM INFRASTRUCTURE CONFERENCE Las Vegas, NV Aug. 17-18, 2016 FORWARD-LOOKING STATEMENTS Statements contained in this presentation that include company expectations or predictions should
More informationENLINK MIDSTREAM PARTNERS, LP
ENLINK MIDSTREAM PARTNERS, LP FORM 8-K (Current report filing) Filed 03/10/14 for the Period Ending 03/07/14 Address 2501 CEDAR SPRINGS RD. STE 100 DALLAS, TX 75201 Telephone 214-953-9500 CIK 0001179060
More informationGHS 100 Energy Conference. June 2012
GHS 100 Energy Conference June 2012 Cautionary Language Re: Forward-Looking Statements This presentation contains forward-looking statements. Western Gas Partners, LP believes that its expectations are
More informationWest Coast Seminar. Max Myers Managing Director, Finance and Business Development December 10, West Coast Seminar 1
Max Myers Managing Director, Finance and Business Development December 10, 2008 1 (A2, BBB+, AA-) Largest electric utility in Oklahoma Over 768,000 customers Rates 28% below the national average Partner
More informationUBS M I D S T R E A M AND M L P C O N F E R E N C E. P a r k C i t y, U t a h J a n. 9-10
UBS M I D S T R E A M AND M L P C O N F E R E N C E P a r k C i t y, U t a h J a n. 9-10 F O RWA R D - L O O K I N G S TAT E M E N T S Statements contained in this presentation that include company expectations
More informationInvestor Relations Presentation
Investor Relations Presentation EQT Midstream Partners-EQT GP Holdings June 2017 1 Cautionary Statements Disclosures in this presentation contain certain forward-looking statements. Statements that do
More informationMerrill Lynch Conference Real Assets, Real Earnings, Real Cash September 2003
Merrill Lynch Conference Real Assets, Real Earnings, Real Cash September 003 Forward Looking Statements This presentation contains forward looking statements, including these, within the meaning of Section
More informationPTXP Investment Highlights
Disclaimer Forward-Looking Statements This presentation includes forward-looking statements. Forward-looking statements give our current expectations, contain projections of results of operations or of
More informationJefferies Global Energy Conference 2012 Alan Armstrong, Chief Executive Officer November 29, 2012
Jefferies Global Energy Conference 2012 Alan Armstrong, Chief Executive Officer November 29, 2012 Forward-looking statements The reports, filings, and other public announcements of The Williams Companies,
More informationEV Energy Partners, L.P. Citi MLP/Midstream Infrastructure Conference
EV Energy Partners, L.P. Citi MLP/Midstream Infrastructure Conference August 17, 2016 Forward-Looking Statement Statements made in this presentation that are not historical facts are forward-looking statements
More informationCredit Agricole High Yield Conference Richard Robert EVP & CFO. March 21, 2013
Credit Agricole High Yield Conference Richard Robert EVP & CFO March 21, 2013 Forward Looking Statements Statements made by representatives of Vanguard Natural Resources, LLC during the course of this
More informationOUR ADVANTAGE: We have been doing it for 20 years with no distractions --- $7.5 billion of acquisitions
Proven Acquisition Success Focus and discipline allows us to buy properties throughout the cycle Flexibility to act in 'real-time' Significant targets remain in the 'right-rock' in the U.S. XTO initiates
More informationEnable Midstream Partners, LP
Enable Midstream Partners, LP First Quarter 2018 Conference Call May 2, 2018 Forward-looking Statements Some of the information in this presentation may contain forward-looking statements. Forward-looking
More informationAntero Resources Reports Fourth Quarter and Year- End 2013 Financial and Operating Results
Antero Resources Reports Fourth Quarter and Year- End 2013 Financial and Operating Results February 26, 2014 DENVER, Feb. 26, 2014 /PRNewswire/ -- (Logo: http://photos.prnewswire.com/prnh/20131101/la09101logo)
More informationThird-Quarter 2017 Earnings Conference Call Presentation. October 26, 2017
Third-Quarter 2017 Earnings Conference Call Presentation October 26, 2017 Forward Looking Statements This presentation contains forward-looking statements within the meaning of federal securities laws
More informationFIRST QUARTER 2018 OPERATIONS REPORT. May 1, 2018
FIRST QUARTER 2018 OPERATIONS REPORT May 1, 2018 FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of the federal securities laws. Although these statements
More informationJefferies Global Energy Conference
Jefferies Global Energy Conference NYSE: WES, WGP www.westerngas.com1 Western Gas Cautionary Language Re: Forward-Looking Statements This presentation contains forward-looking statements. Western Gas Partners,
More informationSOUTHWESTERN ENERGY ANNOUNCES CAPITAL PROGRAM AND GUIDANCE FOR 2009
2350 N. Sam Houston Parkway East Suite 125 Houston, Texas 77032 (281) 618-4700 Fax: (281) 618-4820 NEWS RELEASE SOUTHWESTERN ENERGY ANNOUNCES CAPITAL PROGRAM AND GUIDANCE FOR 2009 Production Projected
More informationIPAA Oil & Gas Investment Symposium Presentation April 13, :35 p.m.
IPAA Oil & Gas Investment Symposium Presentation April 13, 2011 1:35 p.m. Overview of Operations Tulsa based company founded in 1963 with long history of operations in the Mid-Continent Ticker: UNT / NYSE
More informationSecond Quarter 2018 Earnings Call Presentation AUGUST 2, 2018
Second Quarter 2018 Earnings Call Presentation AUGUST 2, 2018 Cautionary Statement This presentation includes "forward-looking statements". Such forward-looking statements are subject to a number of risks
More informationCommodity and Interest Rate Hedging Overview
Commodity and Interest Rate Hedging Overview November 1, 2016 The following information is current as of November 1, 2016. Memorial Production Partners LP (MEMP) intends to update this information quarterly
More informationC I T I M I D S T R E A M I N F R A S T R U C T U R E C O N F E R E N C E. L a s V e g a s A u g ,
C I T I M I D S T R E A M I N F R A S T R U C T U R E C O N F E R E N C E L a s V e g a s A u g. 1 5-1 6, 2 0 1 8 F O RWA R D - L O O K I N G S TAT E M E N T S Statements contained in this presentation
More informationTall Oak Midstream Acquisition December 7, 2015
Tall Oak Midstream Acquisition December 7, 2015 Strong. Innovative. Growing. Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities
More informationSecond Quarter 2017 Earnings Call Presentation August 3, 2017
Second Quarter 2017 Earnings Call Presentation August 3, 2017 1 Forward-Looking Statements This presentation contains forward-looking statements. All statements, other than statements of historical facts,
More informationAntero Resources Reports First Quarter 2013 Results
Antero Resources Reports First Quarter 2013 Results DENVER, May 13, 2013 /PRNewswire/ -- Highlights: Net daily production averaged 383 MMcfe/d, up 114% over first quarter 2012 production from continuing
More informationDeutsche Bank 2008 Energy & Utilities Conference. Fred Fowler President and CEO
Deutsche Bank 2008 Energy & Utilities Conference Fred Fowler President and CEO May 28-29, 2008 Safe Harbor Statement Some of the statements in this document concerning future company performance will be
More informationInvestor Presentation
PEOPLE PROCESS TECHNOLOGY Investor Presentation December 2018 Forward-Looking Statements Under the Private Securities Litigation Reform Act of 1995 This document may contain or incorporate by reference
More informationMorgan Stanley MLP Bus Tour
Morgan Stanley MLP Bus Tour January 26, 2016 Strong. Innovative. Growing. 1 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities
More informationMorgan Stanley MLP and Diversified Natural Gas Corporate Access Day. New York City March 16, 2010
Morgan Stanley MLP and Diversified Natural Gas Corporate Access Day New York City March 16, 2010 Forward-looking Statement Statements contained in this presentation that include company expectations or
More informationUSA Compression Partners, LP Jefferies 2015 Global Energy Conference November 12, 2015
USA Compression Partners, LP Jefferies 2015 Global Energy Conference November 12, 2015 Disclaimers This presentation contains forward-looking statements relating to the Partnership s operations that are
More information