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NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P.

Blueknight Energy Partners, L.P. · May 23, 2013 · 34 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 1
    NAPTP MLP Investor Conference May 23, 2013 NAPTP MLP Investor Conference May 22-23, 2013 1 (NASDAQ: BKEP & BKEPP)
  2. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 2
    Agenda I. Partnership Overview II. Business Segment Overview III. Business Strategy/Recent Developments IV. Key Investment Highlights IV. Financial Summary NAPTP MLP Investor Conference May 22-23, 2013 3 (NASDAQ:…
  3. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 3
    Partnership Overview NAPTP MLP Investor Conference May 22-23, 2013 4 (NASDAQ: BKEP & BKEPP)
  4. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 4
    Partnership Overview Blueknight Energy Partners, L.P. (Blueknight, BKEP or the Partnership) is a publicly traded master limited partnership formed in July 2007 General Partner owned equally by Vitol and Charlesbank Capital Partners…
  5. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 5
    Organizational Structure Charlesbank Capital Partners Vitol Holding B.V. CB-Blueknight, LLC Blueknight Energy Holding, Inc. 50.0% 50.0% Ownership Ownership Interest Interest Blueknight GP Holding, LLC (DE) 17.0% Limited 17.0%…
  6. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 6
    Sponsor Overview Worlds largest independent oil trading Private equity firm with over 2 billion of company capital under management Moves equivalent of over 5 million Long history of making middle-market barrels/day of physical…
  7. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 7
    Business Segment Overview NAPTP MLP Investor Conference May 22-23, 2013 8 (NASDAQ: BKEP & BKEPP)
  8. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 8
    Partnership Snapshot 40.2% 4.4% Leading Midstream Company With Four Diversified Operating Segments Crude Oil Terminalling & Storage Services Crude Oil Pipeline Services 9.3% 46.1% (NASDAQ: BKEP) (NASDAQ: BKEPP) Formed in…
  9. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 9
    Operations Overview Crude Oil Terminalling and Storage, Pipeline and Trucking Services Terminalling and Storage 7.8 million of above-ground crude oil terminalling facilities / storage 6.6 million barrels of storage located at the…
  10. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 10
    Crude Oil Terminalling & Storage Services 7.8 million barrels of above-ground crude oil terminalling facilities and storage tanks providing our customers the ability to effectively manage their crude oil inventories and adding…
  11. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 11
    Crude Oil Pipeline Services: Mid-Continent/Eagle Systems Mid-Continent Mainline System 770-mile gathering and transportation network that gathers wellhead crude oil at a capacity of 25,000 Bpd Transports the crude oil to our Cushing…
  12. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 12
    Crude Oil Pipeline Services: Longview System East Texas 267 miles of mostly intrastate crude oil pipelines near Longview, Texas Connected to all major pipeline systems delivering crude oil to the midwest and local markets Thompson…
  13. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 13
    Crude Oil Trucking & Producer Field Services Trucking operations extend our ability to gather and aggregate crude oil on our systems and deliver product for third parties to their facilities More than 164 owned or leased tanker…
  14. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 14
    Crude Oil Trucking & Producer Field Services Approximately 115 service trucks providing tailored field services to producers in the Texas and Oklahoma panhandles and in southwest Kansas. Services include: Gas gathering pipeline…
  15. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 15
    Asphalt Services 7.2 million barrels of asphalt and residual fuel oil storage capacity in 44 terminals across 22 states 43 of the Partnerships 44 asphalt facilities are under long-term contracts, most of which expire at or near the…
  16. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 16
    Business Strategy/Recent Developments NAPTP MLP Investor Conference May 22-23, 2013 17 (NASDAQ: BKEP & BKEPP)
  17. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 17
    Business Strategy Provide midstream services to crude oil producers in developing areas of the mid-continent. Geographic focus will be: West Texas East Texas Central Oklahoma Rockies North Dakota Capitalize on strong…
  18. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 18
    Recent Developments Oklahoma Mainline/Eagle/Arbuckle pipelines Currently packaging for sale numerous miles of uneconomic, small diameter gathering lines Arbuckle pipeline construction well underway Completion expected in late 2nd…
  19. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 19
    Oklahoma Pipeline Systems Current and with Arbuckle NAPTP MLP Investor Conference May 22-23, 2013 20 (NASDAQ: BKEP & BKEPP)
  20. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 20
    Recent Developments Pecos River Pipeline Project Joint venture with Advantage Pipeline, LLC 30% BKEP ownership in a new construction 70 mile West Texas pipeline Construction well underway Completion expected on phase I of…
  21. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 21
    Pecos River Pipeline NAPTP MLP Investor Conference May 22-23, 2013 22 (NASDAQ: BKEP & BKEPP)
  22. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 22
    Recent Developments Silver Eagle Pipeline Announced intent to form a joint venture with Silverado Pipeline, LLC to evaluate the development of a 200-mile crude oil pipeline between Longview and Houston, Texas Subject to diligence…
  23. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 23
    Silver Eagle Pipeline NAPTP MLP Investor Conference May 22-23, 2013 24 (NASDAQ: BKEP & BKEPP)
  24. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 24
    Key Investment Highlights NAPTP MLP Investor Conference May 22-23, 2013 25 (NASDAQ: BKEP & BKEPP)
  25. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 25
    Attractive Core Base of Energy Midstream Infrastructure Blueknights primary crude oil terminalling and storage facilities located within the Cushing Interchange in Cushing, Oklahoma, one of the largest crude oil marketing hubs in the…
  26. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 26
    Solid and Stable Financial Profile Since its refinancing in 2010, Blueknight has improved its overall financial condition significantly: Leverage ratio has decreased from 4.2x at December 31, 2010 to 3.6x at LTM March 31, 2013…
  27. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 27
    Strong General Partner Sponsorship Vitol is the worlds largest independent oil trading company Vitol as a % of Total Revenue Vitol contracts 4.2 million barrels out of 15.0 million barrels ( in Millions) Vitol % of Total Revenue 60.0…
  28. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 28
    Deep and Experienced Management Team BKEPs executive management team has a deep and wide breadth of experience in the oil and gas industry New CEO, Mark Hurley, joined BKEP in September of 2012 and replaced James Dyer of Vitol…
  29. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 29
    Key Investment Highlights Cushing Interchange: Resident player at core location for crude oil distribution and marketing Attractive Core Base Asphalt Facilities: Geographic diversification in key domestic markets with multiple potential…
  30. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 30
    Financial Overview NAPTP MLP Investor Conference May 22-23, 2013 31 (NASDAQ: BKEP & BKEPP)
  31. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 31
    Financial Overview Financial Targets Target Leverage: - Mid 3.0xs Distribution Policy: - Conservative approach to distributions - Target 1.2x distribution coverage Forecast 2013 EBITDA: - Mid 60 million range Financial…
  32. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 32
    Historical Financial Summary Adjusted EBITDA Total Debt ( in Millions) 80.0 65.2 250.0 239.9 237.0 70.0 59.1 61.4 60.4 218.0 211.0 60.0 200.0 50.0 40.0 150.0 30.0 100.0 20.0 50.0 10.0 0.0 0.0 2010 2011 2012 LTM Mar-13 2010 2011…
  33. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 33
    Appendix NAPTP MLP Investor Conference May 22-23, 2013 34 (NASDAQ: BKEP & BKEPP)
  34. NAPTP MLP INVESTOR CONFERENCE – Blueknight Energy Partners, L.P. – slide 34
    Adjusted EBITDA Reconciliation NAPTP MLP Investor Conference May 22-23, 2013 35 (NASDAQ: BKEP & BKEPP)

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