Investor Presentaiton
4Q21 Earnings Call Key Takeaways
2021
2022
2023+
Maximize FCF
$1.65B FCFAD (+ $600MM from Feb(G))
$1.4B FCF ($700MM FCFAD(1))
Expecting meaningful FCF
Capital Discipline
Capex $230MM from Feb(G)
Capital Allocation
Fundamentals
~$1B debt; $175MM repurchases
Permian production:
+540 mb/d (YE21 vs. YE20)
Optimizing Portfolio $875MM asset sales; Permian Gathering JV
Other
New segments
ā ESG Disclosure, 3yr. Emissions ā ~20%
New Emerging Energy Group.
Feb(G): Furnished February 9, 2021. 2022(G): Furnished February 9, 2022. (1) See Definitions.
Note: Please visit https://ir.paalp.com for reconciliation of Non-GAAP financial measures reflected above to most directly comparable GAAP measures.
Run-Rate (Investment & MCX) <$550MM/yr
Increasing % of FCF allocated to equity holders
as leverage decreases
(intend to recommend distribution increase 1Q22)
Expect Permian production +/- 600 mb/d annual growth
Significant operating leverage within system
Continued optimization / rationalization
Emerging Energy opportunities
H
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