Alon USA Energy - Overview Alon is an independent rener and marketer of petroleum products focused on growth and innova/on to meet both the energy and environmental needs of today, opera/ng primarily in the western and south-central…
The Energy to Innovate Rening capacity of nearly 214,000 barrels per day, producing grades of clean-burning gasoline, ultra-low-sulfur diesel, jet fuel, specialty chemicals and advanced-performance asphalt products for road…
Strategically Located Assets Richmond Beach Washington Renery Exchange Terminal Alon USA Terminal Oregon Third-Party Terminal Asphalt Terminal Nevada Alon Pipelines Fernley Third Party Pipelines Elk Grove Key…
What We Have Accomplished So Far Strengthening Balance Sheet Reduced net debt to 388 million at year-end 2013 from over 1 billion at year-end 2008 Capitalizing on crude slate exibility at reneries Krotz Springs rail rack added;…
Where We Are Heading Refocusing cash ow to investments that enhance gross margin Transforming California assets from a drag on earnings to an earnings contributor by leveraging exis/ng assets in growing logis/cs business Growing…
Rening Assets Big Spring Renery Texas - Permian Basin Krotz Springs Renery Louisiana California Reneries Paramount, Long Beach and Bakerseld 8
Sustainable Feedstock Advantage WTI-based crudes and light sweet Gulf Coast crudes, such as LLS, are expected to trade at a discount to interna/onal benchmarks (Brent) over the next few years, providing a sustainable feedstock…
Advantaged Crude Slate Alons crude slate has shi[ed increasingly towards WTI-linked crudes to take advantage of discounted Mid-Con/nent crude oil pricing since 2011 Processed 71% WTI-linked crudes in 2013, up from 42% in 2011,…
Big Spring: In the Heart of the Permian Basin 518 ac/ve rigs in the Permian in March 2014 vs. the average of less than 300 rigs in 2010 Analysts expect Permian produc/on to grow over 200 Mbpd annually in 2014 and 20151 Raymond…
Alon USA Partners, LP Overview Renery Opera4ng Margin On November 20, 2012 Alon USA Partners, LP (ALDW) completed an 30.00 27.43 ini/al public oering as a variable distribu/on MLP 25.00 23.37 23.50 19.16 20.00 20.89…
How Big Spring Makes Money Product Yields Crude / Blendstocks Rening Opera4ng Margin Per bbl Per bbl Per bbl Gasoline 9.28 18.43 112.95 Gasoline 50.4% Jet Sour Crude 1.35 27.82 65.1% 122.34 Jet 4.9% 8.76…
Organic Growth Opportuni4es at Big Spring Ini4a4ve Cost Incremental EBITDA Implementa4on Increase dis/llate produc/on by 2,000 bpd; enhance energy eciency and During 2Q14 25 million 19 million1 ability to process lighter shale…
How Krotz Springs Makes Money Product Yields Crude / Blendstocks Rening Opera4ng Margin Per bbl Per bbl Per bbl Gasoline 1.46 3.28 2.36 Jet Gasoline WTI 14.42 110.87 44.6% 45.7% Diesel 3.11 13.08 122.01 Jet…
Organic Growth Opportuni4es at Krotz Springs Terminal and Logis4cs Ini4a4ves: Completed work to place crude oil rail rack into service in June 2013 Received over 140,000 bbls of railed crude in 2013, including Niobrara as a new…
California Rening Overview In 4Q 2012, ceased rening opera/ons for interim period Focused on reducing opera/ng expenses; leveraging logis/cs assets Terminal Permibed Rail Capacity Status Long Beach 12,000 bpd Providing services…
Flexible Reneries with Low Opera4ng Expenses Mid-Con4nent Peer Group Gulf Coast Peer Group 5.66 5.57 5.23 5.28 4.81 4.53 4.36 4.09 3.66 ALJ Big S pring, DK Tyler, TX NTI St. Paul, M N CVRR (1) WNR (2) HFC M…
Leading Asphalt Supplier Operate 10 asphalt terminals in the Richmond Beach Among U.S. Reners: western U.S. Opera/ons include: (Seattle) 7 asphalt supplier in U.S. 50% ownership in Paramount Nevada 2 asphalt supplier West of…
Physically Integrated Retail Network Largest 7-Eleven licensee in the U.S. with 296 Loca4ons in High Growth Markets stores (50% fee owned) in Central/West Loca4on Total Texas and New Mexico Big Spring, Texas 8 Completed…
Key Financial Metrics (in millions) Adjusted EBITDA 1 434 268 271 2011 2012 2013 Net Income 79 43 23 2011 2012 2013 1 See page 32 for a reconcilia/on of Adjusted EBITDA to Net Income under GAAP. 24
Debt Reduc4on (in millions) Reduced net debt by 422 million in 2012 Net Debt Reduced net debt by over 500 million 1,000 since the start of 2012 800 Completed 150 million 3.00% conver/ble debt oering in September 2013 and…
Alons Strategic Advantages Strategically located reneries with advantageous sources of crude Physically integrated rening and marke/ng system (cap/ve wholesale and retail network) at Big Spring Diversied opera/ons provide…
Growth Opportuni4es Evalua/ng poten/al to increase throughput at Big Spring Opportuni/es to implement low-risk projects at Big Spring and Krotz Springs with high returns Growing West Coast logis/cs business Developing West…
Investment Highlights Expanding crude sources to enhance exibility and margins Increasing high margin dis/llate produc/on Evalua/ng several low-risk rening projects with payback periods of less than two years Opportunity to…
Adjusted EBITDA Reconcilia4on (in 000's) 2011 2012 2013 Net Income 42,507 79,134 22,986 Non-controlling interest in income (loss) of subsidiaries 1,241 11,463 25,129 Income tax expense (benefit) 18,918 49,884 12,151…
Value Above and Beyond Big Spring Big Springs value highlighted by ALDW; other segments underappreciated Krotz Springs earnings poten/al enhanced by discount in LLS rela/ve to Brent crude Assuming 60% LLS crude slate and 95%…
Guidance and Hedging Informa4on Throughput at Big Spring is expected to average 73,000 bpd in 1Q 2014, 46,000 bpd in 2Q 2014 as a result of the turnaround and 67,000 bpd for full-year 2014 Throughput at Krotz Springs is expected…
Natural Gas Sensi4vity Big Spring For 1/MMBTU change in natural gas prices, opera/ng expenses change by 0.28/bbl based on 2014 throughput guidance of 67,000 bpd Krotz Springs For 1/MMBTU change in natural gas prices, opera/ng…
Mi4ga4ng RINs Exposure The Renewable Fuel Standard (RFS) requires reners to blend a certain amount of renewable fuels into gasoline and diesel. Compliance with the RFS is monitored through Renewable Iden/ca/on Numbers (RINs)…
Business Focus Opera4onal Focus Commercial Focus Primary focus: safety & reliability Op/mize crude slate to take advantage of Run Big Spring at maximum capacity regional pricing disloca/ons Run Krotz Springs capacity (using…
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