INVESTMENT HIGHLIGHTS o Over 125 years of continuous operations, with a 28-year track record as a publicly traded MLP on the NYSE oPaid cash distributions each quarter since formation in 1986 o Lower cost of capital realized from…
ORGANIZATIONAL OVERVIEW Three Business Operating Units Buckeye owns and operates a diversified network of integrated assets providing midstream logistic solutions Domestic Pipelines & Terminals 2014 Adjusted EBITDA One of the…
PIPELINE AND TERMINAL SYSTEM MAP Copyright 2015 Buckeye Partners, L.P. 5
DOMESTIC PIPELINES & TERMINALS OVERVIEW o 6,000 miles of pipeline with 110 delivery locations Pipeline Throughput Volumes (bpd in thousands) 1,426.4 1,430.3 o More than 115 liquid petroleum product terminals o 55 million barrels…
GLOBAL MARINE TERMINALS OVERVIEW Buckeyes network of marine terminals facilitates global flows of liquid petroleum products and offers customers connectivity to some of the worlds most important bulk storage and blending hubs CARIBBEAN…
BUCKEYE SERVICES OVERVIEW Merchant Services Development & Logistics o Provides valuable market insight and transparency to our o Operates or maintains third-party pipelines under logistics businesses agreements with major oil and gas,…
CRUDE OIL PRICING IMPACT AND DIVERSIFICATION Buckeyes business is primarily fee-based; limiting impact of lower crude oil prices CRUDE OIL PRICING IMPACT CRUDE OIL DIVERSIFICATION Certainty of cash flows despite uncertainty in crude…
BUCKEYE TEXAS PARTNERS ACQUISITION OVERVIEW Transaction Overview Financial Benefits o Buckeye acquired 80% of the interests of a newly formed o 100% fee-based take-or-pay cash flows company, Buckeye Texas Partners (BTP), with…
STRATEGIC RATIONALE AND ASSET OVERVIEW Unique opportunity to acquire a midstream platform in the Gulf Coast with long-term committed revenues and significant opportunities for further growth Strategic Rationale Asset Overview (1) o…
SYSTEM COMPLETION Significant assets are in-service today with total expected investment of approximately 1.1 billion (1) Including completion of the first phase of the expansion of the assets and system integration Existing Assets…
GROWTH CAPITAL PROJECTS DOMESTIC PIPELINES & TERMINALS GLOBAL MARINE TERMINALS PROJECTS PROJECTS Texas Partners - Corpus Christi Open Season for Michigan/Ohio Expansion Splitter o expanded service to transport refined petroleum products…
LONG TERM DEBT PORTFOLIO Debt Ratings and Metrics Debt Tranches o Fitch: BBB-/Stable Outlook o Moodys: Baa3/Stable Outlook 5.125% Notes due July 1, 2017 125,000,000 6.050% Notes due January 15, 2018.. 300,000,000 o Standard & Poors:…
INVESTMENT SUMMARY o Proven 28-year track record as a publicly traded partnership through varying economic and commodity price cycles o Stable fee-based cash flows derived from throughput volumes, tariffs and terminalling and…
N NON-GAAP RECONCILIATIONS
NON-GAAP FINANCIAL MEASURES Adjusted EBITDA and distributable cash flow are measures not defined by GAAP. Adjusted EBITDA is the primary measure used by our senior management, including our Chief Executive Officer, to (i) evaluate our…
NON-GAAP RECONCILIATIONS In millions, except coverage ratio 2010 2011 2012 2013 2014 (1)(2) Adjusted EBITDA from continuing operations : Pipelines & Terminals 346.4 361.0 409.5 471.1 511.4 Global Marine Terminals (4.7) 113.0 128.6…
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