Genesis Energy, L.P. Partnership Overview Investment Highlights Master Limited Partnership (NYSE: GEL) Integrated asset portfolio creates opportunity across the crude oil production / refining value chain L.P. market capitalization…
Genesis Business Proposition Integrated asset & services portfolio creates opportunities with producers and refineries Asset / Services Integration CO2 Pipelines Producers Refinery Supply & Logistics Services Supply &…
Genesis Operational Footprint Pipeline Transportation Refinery Services Supply & Logistics 163 million (44%) 84 million (22%) 127 million (34%) Transportation & supply of crude oil and CO2, Refinery sulfur removal services and sales…
Limited Commodity Price Exposure Business Segment General Commodity Exposure Mitigant Tariff-based, fee income (except for PLA volumes) Pipeline Transportation No Direct Exposure Fixed lease payments from DNR for NEJD CO2 system…
Existing Businesses
Pipeline Transportation Onshore Stable cash flows through pipeline tariffs combined with future volume growth Provides a foothold for growth of crude oil supply and logistics segment Onshore Crude Oil Pipelines CO2 Pipelines TX…
Pipeline Transportation Offshore Positioned to provide deepwater producers maximum optionality with access to both Texas & Louisiana markets Potential for meaningful volume growth with increased development drilling in dedicated,…
Pipeline Transportation Offshore Gulf of Mexico Development Provides our producer and refinery partners with an integrated midstream solution and maximum optionality Gulf of Mexico activity continues to increase from moratorium…
Refinery Services Refinery sulfur removal and sales of by-products at 10 owned and/or operated facilities; 4 marketing agreements Owned & leased NaHS and NaOH terminals in Gulf Coast, Midwest, Montana, British Columbia, Utah and South…
Refinery Services Process Overview Sour Gas Processing units inside Nat Gas the fence at 10 refineries H2S NaHS Unit Gas Processing Produce NaHS through proprietary Nat Gas process utilizing large amounts of Refiners Caustic Soda…
Supply & Logistics Crude oil services and logistics, refined products services and logistics, marine transportation and rail services 135 trucks / 135 trailers in crude oil trucking fleet. Additional 150 trucks / 250 trailers in refined…
Business Objectives and Recent Developments
Business Objectives Identify and Exploit Profit Opportunities Across an Increasingly Integrated Asset Footprint Continue to Optimize Existing Asset Base and Create Synergies Evaluate Internal and 3rd Party Growth Opportunities…
Organic Capital Projects Opportunities focused on leveraging existing Genesis Capital Allocation by Segment footprint and providing an integrated midstream solution to our producer and refinery customers Pipeline Transportation 26%…
Pipeline Recent Development SEKCO Project Overview and Uncommitted Prospects On January 4, 2012, Genesis and Enterprise announced the formation of Southeast Keathley Eugene Island Canyon Pipeline Company (SEKCO), a 50/50 JV to…
Pipeline / S&L Recent Development Integrated Crude Logistics Project Overview Genesis entered into definitive agreements with ExxonMobil (XOM) in which Port Hudson Truck Station One existing 10,000 bbl tank Genesis improved existing…
Supply & Logistics Recent Developments Rail Projects Wink Natchez Walnut Hill Crude oil rail loading facility located in Wink, Crude oil rail unloading / loading facility at Crude oil rail unloading facility utilizing Texas Genesis…
Pipeline / S&L Recent Development Raceland Rail Facility Project Overview Placid Raceland is being designed to handle Port Allen XOM Baton Rouge the unloading of up to two unit trains per day (140 kbd) with two parallel tracks…
Pipeline / S&L Recent Development Wyoming Projects Wyoming Assets Overview Genesis has completed construction of its unit train loading facility in the heart of the Powder River Basin (PRB) and Niobrara shale play (Pronghorn) Site…
S&L Recent Developments Inland (Brown Water) Marine Growth: Took possession of 4 asphalt / crude capable barges in 3Q/ 4Q 2013; received additional 8 barges in 2Q / 3Q 2014 9 push-boats on order for arrival starting in 4Q 2014 with…
S&L Recent Developments American Phoenix Acquisition In November 2014, Genesis acquired the M/T American Phoenix from Mid Ocean Tanker Company for approximately 157 million Modern, double-hulled, Jones Act qualified tanker with…
Financial Summary
Financial Objectives Continue to deliver disciplined, low double-digit growth in distributions Grow our distribution coverage ratio, using excess Available Cash as equity and to pay down senior secured debt Target long-term…
Strong Balance Sheet and Credit Profile ( in 000s) Reported LTM Material Project & Acquisitions Pro Forma LTM 9/30/2014 EBITDA Adjustment 9/30/2014 Senior Secured (a) 246,275 246,275 Senior Unsecured 1,050,000 1,050,000 Pro Forma…
Disciplined Distribution Growth 37 consecutive quarters of distribution increases to L.P.s, 32 of which have been greater than 10% year-over-year Historical LP Unit Distributions ( / unit) -27-
Appendix
Pro Forma Segment Margin Reconciliation ( in 000s) Pro Forma LTM 9 months Ended September 30, 9/30/2014 2014 2013 2013 2012 Segment Margin Excluding Depreciation and Amortization: Pipeline Transportation 120,445 93,078 81,512 108,879…
Available Cash Before Reserves ( in 000s) Pro Forma LTM 9 months Ended September 30, 9/30/2014 2014 2013 2013 2012 Income from continuing operations 96,758 80,036 67,282 84,004 97,337 Depreciation and amortization 82,923 64,919 46,780…
Pro Forma EBITDA Reconciliation ( in 000s) Pro Forma LTM 9 months Ended September 30, 9/30/2014 2014 2013 2013 2012 Income from continuing operations 96,758 80,036 68,222 84,004 97,337 Depreciation and amortization 82,924 64,919 46,780…
Adjusted Debt Reconciliation ( in 000s) Pro Forma LTM 9/30/2014 2013 2012 Long-term debt 335,000 582,800 500,000 Senior Unsecured Notes 1,050,000 700,000 350,000 Adjustment for short-term hedged inventory (71,800) (80,800) (63,900)…
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