Investor Presentaiton
CRESTWOOD NORTH TEXAS ACQUISITION
ENLINK
MIDSTREAM
SIGNIFICANT SYNERGIES AND REDEPLOYMENT OF ASSETS RESULT IN ATTRACTIVE ECONOMICS
N
Trinity River
Graham
16
Leon River
Comanche
281
16
Possum
Kingdom
Loke
TEXAS
Stephenville
BRIDGEPORT
281
51
Denton
Loke
Lewisville
Flowcs
Lewisville
Mineral Wess
SILVER
CREEK
Weat
Fort Worth
Arlington
COWTOWN
144
PLANT
1362
ENLINK
CRESTWOOD
Loke
Whitney
Cedar Hill
10
20
40
Miles
22
Wa
•
Deployment of "The EnLink Way" Creates Significant Value
Significant synergies, minimal integration capital, and significant capital avoidance - Plan to
integrate with EnLink's footprint and redeploy assets to EnLink's other segments, including the
Permian segment in the near-term and the Carbon Solutions business in the future
Significant reduction to EnLink's 2023 capital expenditures as a result of redeployment of
acquired assets, mostly compression
Improves emission intensity profile in North Texas segment with high mix of electric compression
Potential additional CCUS opportunities aimed at meeting carbon intensity reduction
objectives
Asset Overview
•
Expands position in prolific producing basin with proximity to incremental LNG exports along
Gulf Coast
~500 miles of lean and rich gas gathering pipeline
Includes three processing plants with 425 MMcf/d of capacity (available for future relocation)
Attractive Economics
$275 million cash consideration
~4x EBITDA and high teens unlevered return, driven by operational synergies and $50 million in
identified redeployment of assets
。 Upside from potential incremental drilling and additional asset redeployments
High 2023E DCF and FCFAD accretion and leverage neutral
No change to EnLink's balanced capital allocation approach
September 2022 Investor Presentation 19View entire presentation