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MarkWest Energy Partners Reports Record Second Quarter Results And Announces Plans To Form A Joint Venture With Kinder Morgan To Support Northern Ohio Rich-Gas Development And NGL Pipeline To Gulf Coast

a. NGL-to-crude oil ratio at 50% for 2013.b. NGL-to-crude oil ratio at 40% for 2013.c. NGL-to-crude oil ratio at 30% for 2013.

The analysis further assumes derivative instruments outstanding as of August 7, 2013, and production volumes estimated through December 31, 2013. The range of stated hypothetical changes in commodity prices considers current and historic market performance.

Estimated Range of 2013 DCF

                         
        Natural Gas Price (Henry Hub)

Crude Oil Price (WTI)

 

NGL-to-Crude Oil ratio (1)

  $3.00   $3.50   $4.00   $4.50   $5.00

 

50% of WTI   $ 548   $ 546   $ 543   $ 541   $ 539

$120

40% of WTI   $ 518   $ 516   $ 514   $ 512   $ 509
    30% of WTI   $ 490   $ 488   $ 486   $ 483   $ 481

 

50% of WTI   $ 540   $ 538   $ 535   $ 533   $ 531

$110

40% of WTI   $ 513   $ 511   $ 508   $ 506   $ 504
    30% of WTI   $ 486   $ 484   $ 482   $ 479   $ 477

 

50% of WTI   $ 530   $ 528   $ 526   $ 524   $ 521

$100

40% of WTI   $ 506   $ 504   $ 502   $ 499   $ 497
    30% of WTI   $ 481   $ 478   $ 476   $ 474   $ 472

 

50% of WTI   $ 519   $ 517   $ 515   $ 512   $ 510

$90

40% of WTI   $ 497   $ 495   $ 493   $ 491   $ 488
    30% of WTI   $ 474   $ 472   $ 470   $ 468   $ 465

 

50% of WTI   $ 509   $ 507   $ 505   $ 503   $ 500

$80

40% of WTI   $ 489   $ 486   $ 484   $ 482   $ 480
    30% of WTI   $ 470   $ 467   $ 465   $ 462   $ 459
(1)   The composition is based on MarkWest’s average projected barrel of approximately: Ethane: 35%, Propane: 35%, Iso-Butane: 6%, Normal Butane: 12%, Natural Gasoline: 12%.
 

The table is based on current information, expectations, and beliefs concerning future developments and their potential effects, and does not consider actions MarkWest management may take to mitigate exposure to changes. Nor does the table consider the effects that such hypothetical adverse changes may have on overall economic activity. Historical prices and ratios of NGL-to-crude oil do not guarantee future results.

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