Kinder Morgan Market Opportunity and Financial Overview slide image

Kinder Morgan Market Opportunity and Financial Overview

2023 Budget Sensitivities Limited overall commodity exposure 2023B assumptions Natural gas G&P volumes 3,668 bbtud Refined products volumes (gasoline, diesel & jet fuel) 1,663 mbbld for Products segment Change Potential Impact to Adjusted EBITDA & DCF (full year) Natural Gas Products Terminals +/- 5% $40 million +/- 5% $37 million $12 million Crude oil & condensate volumes (includes Bakken oil G&P) 510 mbbld net +/- 5% Crude oil & NGL production volumes 38 mbbld net +/- 5% in net volumes $85.00/bbl WTI crude oil price +/- $1/bbl WTI $5.50/Dth natural gas price +/- $0.10/Dth $15 million KINDER MORGAN CO2 Total $40 million $49 million $15 million $25 million $25 million $1.0 million $1.2 million $3.6 million $5.8 million $1.0 million (a) $1.0 million (a) NGL / crude oil price ratio +/- 1% price ratio $1.4 million 54% in Natural Gas segment & 45% in CO2 segment $2.71/RIN D3 RIN price +/- $0.10/RIN SOFR rate: 4.72% $3.5 million $4.9 million $3.8 million $3.8 million Potential Impact to DCF (balance of year) +/-10-bp change in SOFR $6.3 million (b) Note: These sensitivities are general estimates of anticipated impacts on our business segments & overall business of changes relative to our assumptions; the impact of actual changes may vary significantly depending on the affected asset, product & contract. Adjusted EBITDA and Distributable Cash Flow (DCF) are non-GAAP measures. See Non-GAAP Financial Measures & Reconciliations at the end of this presentation for additional information. a) Assumes constant ethane frac spread vs. natural gas prices. b) As of 12/31/2022, we had $7.5 billion of fixed-to-floating interest rate swaps on our long-term debt and -24% of the principal amount of our debt balance was subject to variable interest rates - either as short- or long-term variable rate debt obligations or as fixed-rate debt converted to variable rates through the use of interest rate swaps. Taking into account SOFR locks effective on 12/30/2022 (and not included in budget), we have fixed the LIBOR component on $1.25 billion of our floating rate swaps through the end of 2023, and effectively 20% of our debt therefore subject to variable interest rates. 44
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