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 Onshore Pipeline Offshore Pipeline Refinery Services Marine Transportation Supply & Logistics Transportation Transportation 61 million (16%) 100 million (25%) 85 million (21%) 100 million (25%) 51…
Limited Commodity Price Exposure Business Segment General Commodity Exposure Mitigant Tariff-based, fee income (except for PLA volumes) Onshore Pipeline Transportation No Direct Exposure Fixed lease payments from DNR for NEJD CO2…
Existing Businesses
Onshore Pipeline Transportation 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…
Offshore Pipeline Transportation 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,…
Offshore Pipeline Transportation 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 H 2S 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 and rail services 135 trucks / 135 trailers in crude oil trucking fleet. Additional 150 trucks / 250 trailers in refined products fleet 2.9…
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 Project portfolio provides…
Offshore 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…
Onshore 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…
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…
Onshore 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…
Onshore 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…
Marine Transportation 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 7 push-boats on order for arrival starting…
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 12/31/2014 EBITDA Adjustment 12/31/2014 Senior Secured (a) 495,938 495,938 Senior Unsecured 1,050,000 1,050,000 Pro Forma…
Disciplined Distribution Growth 38 consecutive quarters of distribution increases to L.P.s, 33 of which have been greater than 10% year-over-year Historical LP Unit Distributions ( / unit) 0.6000 0.5950 0.5800 0.5500 0.5650…
Appendix
Pro Forma Segment Margin Reconciliation ( in 000s) 2014 2013 2012 Segment Margin Excluding Depreciation and Amortization: Onshore Pipeline Transportation 61,231 64,349 58,039 OffshorePipeline Transportation 71,598 44,530 38,500…
Available Cash Before Reserves ( in 000s) 2014 2013 2012 Income from continuing operations 106,202 84,004 97,337 Depreciation and amortization 90,908 64,784 61,150 Cash received from direct financing leases not included in income…
Pro Forma EBITDA Reconciliation ( in 000s) 2014 2013 2012 Income from continuing operations 106,202 84,004 97,337 Depreciation and amortization 90,908 64,784 61,150 Interest expense, net 66,639 48,583 40,923 Cash expenditures not…
Loading...
