EMA 2009 - 2012 & Beyond: Operating in a Carbon Constrained Environment -...fijigeorge
Presentation reviews potential legislative and regulatory issues that could impact operations of a natural gas company. Also, provides organizational response to upcoming carbon legislation/regulation
EMA 2009 - 2012 & Beyond: Operating in a Carbon Constrained Environment -...fijigeorge
Presentation reviews potential legislative and regulatory issues that could impact operations of a natural gas company. Also, provides organizational response to upcoming carbon legislation/regulation
Visualizing Cinema Data: Presentation at HOMER (Prague 2013)Deb Verhoeven
Cinema data is characteristically complex, heterogeneous and interlinked. Rather than relying on simple information retrieval techniques, researchers are increasingly turning to the creative exploration and reapplication of data in order to more fully explore the meaning of newly available and diverse data sets. In this context, the cinema historian becomes the creator of visual texts which can be assessed for both their interpretive insight and their aesthetic qualities. This paper presents four research projects that develop different spatio-temporal visualisation techniques to understand the industrial dynamics of post-war film exhibition and distribution in Australia. The research integrates groundbreaking work by a group of inter-disciplinary investigators into the effectiveness of techniques such as dendritic mapping, Circos, time-series graphs, animation, cartogram mapping, and multivariate visualisation for the study of cinema circuits and operations at a number of scales.
Visualizing Cinema Data: Presentation at HOMER (Prague 2013)Deb Verhoeven
Cinema data is characteristically complex, heterogeneous and interlinked. Rather than relying on simple information retrieval techniques, researchers are increasingly turning to the creative exploration and reapplication of data in order to more fully explore the meaning of newly available and diverse data sets. In this context, the cinema historian becomes the creator of visual texts which can be assessed for both their interpretive insight and their aesthetic qualities. This paper presents four research projects that develop different spatio-temporal visualisation techniques to understand the industrial dynamics of post-war film exhibition and distribution in Australia. The research integrates groundbreaking work by a group of inter-disciplinary investigators into the effectiveness of techniques such as dendritic mapping, Circos, time-series graphs, animation, cartogram mapping, and multivariate visualisation for the study of cinema circuits and operations at a number of scales.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.
el paso 020508_CreditSuisse_Leland
1. a meaningful company
doing meaningful work
delivering meaningful results
Credit Suisse Energy Conference
February 5, 2008
2. Cautionary Statement
Regarding Forward-looking Statements
This presentation includes forward-looking statements and projections, made in reliance on the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. The company has made every reasonable effort to ensure that the information
and assumptions on which these statements and projections are based are current, reasonable, and complete. However, a
variety of factors could cause actual results to differ materially from the projections, anticipated results or other expectations
expressed in this presentation, including, without limitation, changes in reserve estimates based upon internal and third party
reserve analyses; our ability to meet production volume targets in our Exploration and Production segment; our ability to
obtain necessary governmental approvals for proposed pipeline and E&P projects and our ability to successfully construct
and operate such projects; the risks associated with recontracting of transportation commitments by our pipelines; regulatory
uncertainties associated with pipeline rate cases; actions by the credit rating agencies; the successful close of our financing
transactions; our ability to close our announced asset sales on a timely basis; changes in commodity prices and basis
differentials for oil, natural gas, and power; inability to realize anticipated synergies and cost savings associated with
restructurings and divestitures on a timely basis or at all; general economic and weather conditions in geographic regions or
markets served by the company and its affiliates, or where operations of the company and its affiliates are located; the
uncertainties associated with governmental regulation; political and currency risks associated with international operations of
the company and its affiliates; competition; and other factors described in the company's (and its affiliates') Securities and
Exchange Commission filings. While the company makes these statements and projections in good faith, neither the company
nor its management can guarantee that anticipated future results will be achieved. Reference must be made to those filings for
additional important factors that may affect actual results. The company assumes no obligation to publicly update or revise
any forward-looking statements made herein or any other forward-looking statements made by the company, whether as a
result of new information, future events, or otherwise.
Non-GAAP Financial Measures
This presentation contains non-GAAP financial measures as defined in the SEC’s Regulation G. More information on these
non-GAAP financial measures, including EBITDA and E&P cash costs, and the required reconciliations under Regulation G are
set forth in the Appendix to this presentation.
2
3. Our Purpose
El Paso Corporation provides
natural gas and related energy
products in a safe, efficient, and
dependable manner
3
4. Our Vision & Values
the place to work
the neighbor to have
the company to own
4
5. Leading Positions in Two Core Businesses
Interstate
Pipelines
Exploration &
Production
5
6. Compelling Investment Opportunity
• Unprecedented pipeline infrastructure opportunities
– $3 billion committed project inventory
– 6% – 8% multi-year EBIT growth
– Plus additional growth potential
• Consistent E&P domestic programs plus international
exploration upside
– Portfolio high grading improves cost structure, geographic
focus
– 8% – 12% multi-year production growth
– Exploration success in Brazil
Businesses support long-term value creation
6
7. 2007 Financial Achievements
• Fifth year of improved profitability
• Reduced debt by more than $2.5 billion
• Interest expense down 22%
• Pipelines back to investment grade
– Very important given expansion profile
• Successful IPO of El Paso Pipeline Partners
• Updated/expanded credit facilities
• Repurchased/refinanced > $5 billion debt
7
9. Premier Pipeline Franchise
Tennessee
Wyoming Gas Pipeline
Colorado
Interstate
Interstate Gas
Cheyenne
Mojave
Plains Pipeline
Pipeline
Southern
Natural Gas
Elba Island
El Paso
LNG
Natural Gas
Mexico
Florida Gas
Ventures Gulf LNG
Transmission (50%)
(50%)
• 19% of total U.S. interstate pipeline mileage
• 23 Bcf/d capacity (16% of total U.S.)
• 16 Bcf/d throughput (28% of gas delivered to U.S. consumers)
Source: El Paso Corporation 9
Note: Includes El Paso Corporation and El Paso Pipeline Partners, L.P.
10. Growth Backlog now $3 Billion
WIC Kanda Lateral
$189 MM TGP Concord
WIC Medicine Bow
January 2008 $21 MM
Expansion
400 MMcf/d Nov 2009
$32 MM 30 MMcf/d
July 2008
330 MMcf/d
CIG High Plains Pipeline
$196 MM TGP Essex-Middlesex
WIC Piceance
October 2008 $76 MM
Lateral
900 MMcf/d Nov 2008
CP Coral Expansion $62 MM 82 MMcf/d
$23 MM 4Q 2009
CIG Totem Storage July 2008 200 MMcf/d
$120 MM Elba Expansion III &
70 MMcf/d
July 2009 Elba Express
200 MMcf/d $1.1 Billion
2010–2013
8.4 Bcf / 1,115 MMcfd
TGP Carthage SNG Cypress Phase II & III
Expansion $19 MM/$82 MM
$39 MM May 2008/ Jan 2011
April 2009 116 MMcf/d/ 164 MMcf/d
100 MMcf/d
SNG South System III/
SNG SESH –Phase I SESH Phase II
$137 MM $286 MM/ $33 MM
Jun 2008 2010 - 2012
140 MMcf/d 375 MMcf/d/ 360MMcfd
Gulf LNG
El Paso Pipeline Partners, LP $1.1 Billion
Oct 2011
1.4 Bcf/d
El Paso Pipeline
10
11. Large Projects Under Development
Not Included in Backlog
Northeast Passage
• $2.3 billion (100%)
• 1.1 Bcf/d Capacity
• 2011 In-service
• Joint development with Equitable
Ruby Project
• $2 billion (100%)
• 1.2 Bcf/d Capacity
ElbaIsland.wmv
• 2011 In-service
• PA with PGE for 375 MMcf/d
• Joint ownership with PGE
• Also discussions with Bear Energy
FGT Phase VIII Expansion
• $2 billion (100%)
• 0.8 Bcf/d Capacity
• 2011 In-service
• Open season now
Potential $6 billion - $7 billion capex (100%)
― Estimate $3+ billion El Paso’s share 11
12. Overview of El Paso Pipeline Partners
• Primary focus is natural gas transmission
and storage assets
• Three FERC regulated interstate pipelines:
– 100% of WIC: 800 miles, 2.7 Bcf/d
– 10% of CIG: 4,000 miles, 3.0 Bcf/d
– 10% of SNG: 7,600 miles, 3.7 Bcf/d
• Demand based revenues from high quality
customers with strong credit profiles
• Several organic expansions underway
WIC
SNG
CIG
Diverse, Growing Supply Regions High Connectivity to Growing Markets
12
13. Pipeline Outlook
• Favorable macro environment supports continued
industry growth
• Significant footprint enhances expansion
opportunities
• 6% – 8% multi-year EBIT growth
– Even higher with success on large projects
• Committed to grow El Paso Pipeline Partners
– $2.4 billion NOL offsets potential gain on drop downs
Best pipeline franchise providing
superior growth and returns
13
14. Exploration &
Production
a meaningful company doing meaningful work delivering meaningful results 14
15. El Paso E&P: Top 10 Independent
Total Company
Nile
• Well situated in key U.S. Delta
basins Sinai
Onshore Gulf
Egypt
• Focused on resource & of
Egypt
• 51% of 2007 production
unconventional programs Suez
• Primarily coal seam and
• ~80% natural gas
tight-gas programs
• 97% success rate in 2007
• Low risk repeatable plays Egypt
• 99% success rate in 2007 • Onshore
conventional
exploration
Brazil • 1MM acres
• First drilling 2H 2008
Texas Gulf Coast
Rio de
Janeiro
• 25% of 2007 production
• Low-to-medium risk
Brazil
GOM/SLA
tight–gas programs
• 2 discoveries is 2007
• 92% success rate 2007 • 22% of 2007 production
• 15,000 – 20,000 BOE/D
• Medium to high-risk
beginning 2H 2009
exploration
• 20 undrilled prospects
• Large acreage position
• 2% of 2007 production
• 46% success rate in 2007
*Note: 2007 percentages include equity in Four Star 15
16. Coming off An Excellent 2007
• Delivered on all goals
– Production up 8%
– Unit lifting costs down 7%
– Meet or exceed 1% - 5% reserve growth target*
• Grew staff by 10%
• Exploration success in Brazil
• Significant progress with portfolio high grading
Entering 2008 with substantial momentum
* Not including Peoples acquisition
16
17. High Grading: What it Means
U.S. Peoples
Asset Sales Acquisition Impact on 2008
Reserves 1/1/2008 (Bcfe) ~300 ~300 Reserve neutral
2008 production (MMcfe/d) 85 90 Production improvement
Direct Lifting Costs ($/Mcfe) $1.40 $0.50 $0.05–$0.10/Mcfe
improvement
Other benefits:
• Geographic concentration
• Resource inventory grows by ~450 locations
• Eliminates > $50 MM plug and abandonment liability
17
18. 2008 Key Metrics
Metric Target
870 – 9301
Production (MMcfe/d)
$1.75 – $1.90
Cash Costs2 ($/Mcfe)
$1,700 – $1,900
EBITDA ($MM)
$2.80 – $3.20
DD&A ($/Mcfe)
1Includes our proportionate share of Four Star Oil and Gas volumes
2Includes direct lifting costs, production taxes, administrative expenses and other taxes
18
19. $1.7 Billion Capital Program in 2008
2008 Capital by Division
• Increased capital development
for recent acquisitions
– Onshore up 15%
Texas
– TGC up 25% International Gulf Coast
21% 25%
• Decreased capital in GOM/SLA
– Down 15% GOM/SLA
16%
Onshore
38%
• International up 50%
– Pinaúna & Bia developments
– Egypt exploration
Total = $1.7 billion
Note: Percent change excludes acquisitions
19
20. 2008 Production Perspective
• Base decline improves by 10+ MMcfe/d post high grading
• Additional TGC and Onshore capital (Peoples and Laredo acquisitions)
• Result: TGC & Onshore production up; GOM stabilizes at lower level
Exploration & Development Capital ($ million)
$580
$515
$385
$310 $285
$235
TGC Onshore GOM
2008
2007 20
21. E&P Production
Solid Growth Trajectory Through 2010
MMcfe/d
GR
12% CA
8%–
870–930
862
798
2
2007E 2007E Pro 2008 2009 2010
Forma1
1 Excludes volumes from domestic assets being sold; assumes full year of Peoples
Assumes 25 MMcfe/d annualized contributed by the divestiture assets prior to closing 21
2
22. Unit Lease Operating Expenses
Top Quartile Performer
$/Mcfe
$1.08 $1.05
$0.99 $0.95
$0.88 $0.75–
$0.85
2006 2007E 2008E
Peer Average El Paso
Peer group: APA, APC, CHK, DVN, EOG, FST, NBL, NFX, PXD, XEC, XTO
22
Actual results from Peer company reports for 2006 and thru Q3 2007; Credit Suisse 2008E
23. E&P Profitability
Has Grown Faster Than Peers
EBITDA*/Mcfe, Including Hedging
$6.07 $5.75–
$6.00
$5.83
$5.59
$5.49
$4.82
2006 2007E 2008E
Peer Average El Paso
Peer group: APA, APC, CHK, DVN, EOG, FST, NBL, NFX, PXD, XEC, XTO
Actual results from Peer company reports for 2006 and thru Q3 2007; Credit Suisse 2008E
23
*EBITDA excludes exploration and dry hole expense for successful efforts companies
24. E&P Summary
• Successfully delivered on 2007 objectives
– Achieved production growth and cost targets
– High grading portfolio to improve overall performance
• Established significant capital program in 2008
– $1.7 billion with majority focused Onshore, low risk programs
– Brazil capital shifts to two high-impact developments
• Improved visibility to long term growth
– Expect 8%–12% CAGR of production long term
– Continued improvement in cost structure
E&P moving towards top-tier performance
24
25. Entering 2008 With Solid Hedge Position
Natural Gas and oil hedge positions as of January 15, 2008
141 TBtu
Ceiling Average cap $10.05/MMBtu
108 TBtu 33 TBtu
2008 Gas $8.00 floor/ $7.65
$10.80 ceiling fixed price
Floors
141 TBtu
Balance at
Average floor $7.92/MMBtu
Market Price
3.7 MMBbls
Ceiling
Average cap $81.44/Bbl
2.8 MMBbls 0.9 MMBbls
2008 Oil $89.58 $57.03 ceiling/
fixed price $55.00 floor
Floors
3.7 MMBbls
Average floor $80.94/Bbl
Note: See full Production-Related Derivative Schedule in Appendix 25
26. Visible Long-Term Growth
• Significant momentum going into 2008
• Pipelines working to expand $3 billion inventory
• E&P faster growing, more profitable, more focused
post high grading
• Pipeline MLP offers strategic tool for future growth
• Visible multi-year growth for both businesses
– Pipelines 6%–8% EBIT growth
– E&P 8%–12% production growth
26
27. a meaningful company
doing meaningful work
delivering meaningful results
Credit Suisse Energy Conference
February 5, 2008
29. Disclosure of Non-GAAP
Financial Measures
The SEC’s Regulation G applies to any public disclosure or release of material information that includes a non-
GAAP financial measure. In the event of such a disclosure or release, Regulation G requires (i) the presentation
of the most directly comparable financial measure calculated and presented in accordance with GAAP and (ii) a
reconciliation of the differences between the non-GAAP financial measure presented and the most directly
comparable financial measure calculated and presented in accordance with GAAP. The required presentations
and reconciliations are provided herein.
El Paso uses the non-GAAP financial measure “earnings before interest expense and income taxes” or “EBIT” to
assess the operating results and effectiveness of the company and its business segments. The company defines
EBIT as net income (loss) adjusted for (i) items that do not impact its income (loss) from continuing operations,
such as extraordinary items, discontinued operations, and the impact of accounting changes; (ii) income taxes;
(iii) interest and debt expense; and (iv) distributions on preferred interests of consolidated subsidiaries. The
company excludes interest and debt expense and distributions on preferred interests of consolidated
subsidiaries so that investors may evaluate the company’s operating results without regard to its financing
methods or capital structure. EBITDA is defined as EBIT plus depreciation, depletion, and amortization. El
Paso’s business operations consist of both consolidated businesses as well as substantial investments in
unconsolidated affiliates. As a result, the company believes that EBIT and EBITDA, which include the results of
both these consolidated and unconsolidated operations, is useful to its investors because it allows them to
evaluate more effectively the performance of all of El Paso’s businesses and investments. Per Unit total Cash
Expenses, or Cash Cost (per Mcfe) equal total operating expenses less DD&A and other non-cash charges
divided by total consolidated production.
El Paso believes that the non-GAAP financial measures described above are also useful to investors because
these measurements are used by many companies in the industry as a measurement of operating and financial
performance and are commonly employed by financial analysts and others to evaluate the operating and
financial performance of the company and its business segments and to compare the operating and financial
performance of the company and its business segments with the performance of other companies within the
industry.
These non-GAAP financial measures may not be comparable to similarly titled measurements used by other
companies and should not be used as a substitute for net income, earnings per share or other GAAP
measurements.
29
33. 2008 Capital Program
$ Millions
Pipelines E&P Corporate Total
Maintenance $ 430 $1,150 $100* $1,680
Growth 1,180 500 0 1,680
Total $1,610 $1,650 $100 $3,360
Growth capital 50% of total
33
*Includes building renovation of $85 million
34. Backlog Projects’ In-service Schedule
$ Millions
2008 2009 2010 2011 2012 & Beyond
WIC Kanda Lateral TGP Carthage Elba III & Elba Elba III & Elba
Gulf LNG (50%)
Express -Phase A Express - Phase B
Cheyenne Plains - TGP Concord
SNG South System
Coral Lateral Expansion SNG South System SNG South System
2011
2010 2012
TGP Essex/ CIG Totem
SNG Cypress III
Middlesex Storage (50%) SNG SESH Phase II
CIG High Plains WIC Piceance
(50%) Lateral Expansion
WIC Medicine Bow
SNG Cypress
Phase II
SNG SESH Phase I
$575 $185 $985 $925 $340
Note: $ in each column represents total costs for each project, shown in the year
34
placed in service. (Actual capital spend over multiple years)
35. Majority of Capital Program is Low Risk
2008P % of
Gross Wells Drilling
Drilled Capital
High PC < 40%
20–25 14%
High Impact
Exploration
PC 40%–80%
Risk
25–30 17%
Med Medium Risk Development
and Exploration
PC > 80%
Low
530–545 69%
Low Risk Domestic Development
and Pinauna & Bia Development
575–600
35