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1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P.

Sunoco Logistics Partners L.P. · May 2, 2012 · 26 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. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 1
    1Q12 Earnings Conference Call May 2, 2012
  2. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 2
    A Compelling Strategic Transaction Energy Transfer Partners, L.P. (ETP) will acquire 100% of Sunoco, Inc.s (SUN) outstanding common stock for 50.13(1) per share (5.3 billion) Attractive premium with continued participation in…
  3. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 3
    Summary of Sunoco 1st Quarter 2012 Performance Sunoco reported a loss of 53MM before special items(1) Continued strong performance from Logistics (2) 161MM adjusted EBITDA for Sunoco Logistics Partners in 1Q12 Retail performance…
  4. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 4
    SXL: Highlights Excellent quarterly performance: 161 million Adjusted EBITDA (1) 122 million Distributable Cash Flow (DCF) Increased distribution for 28th consecutive quarter Strong demand for our crude services and assets…
  5. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 5
    SXL: West Texas Crude Projects West Texas Crude Expansion: Strong demand for takeaway capacity out of the Permian Basin Existing crude pipeline Multiple destinations possible 2 Successful Open Seasons Houston Access40 MB/D…
  6. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 6
    SXL: NGL Projects Marcellus Shale Pipeline Solutions: Mariner West (done deal) July 2013 target start-up 50,000 MB/D initial capacity Sarnia, Canada market Mariner West Committed shippers Mariner East (still working) Multiple…
  7. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 7
    SXL: Organic Capital 350 Optimize current asset base 300 Invest in organic extensions 250 Investment (MM) 200 2012 Organic investment projected to be approximately 150 300 million including: 100 West Texas Crude Projects…
  8. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 8
    Sunoco Pretax Income/(Loss) Three Months Ended (amounts in millions) March 31, 2012 2011 Logistics 57 31 Retail Marketing (6) 12 Refining & Supply (87) (138) Corporate Expenses (14) (22) Net Financing Expenses & Other (1) (31)…
  9. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 9
    Cash and Debt Breakdown (amounts in millions) 12/31/2011 3/31/2012 Sunoco ex Sunoco ex MM Sunoco SXC SXL SXL/SXC Sunoco SXL SXL Debt 3,544 726 1,698 1,120 2,572 1,583 989 (1) Less: Cash (2,064) (128) (112) (1,824) (1,985) (37)…
  10. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 10
    Path Forward Continue focus on high-return logistics and retail businesses Execute on growth plan in SXL, including 300 million of organic opportunities in 2012 Pursue potential refining joint venture with The Carlyle Group…
  11. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 11
    Appendix Appendix
  12. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 12
    Transaction Overview ETP will acquire 100% of SUNs outstanding common stock for 50.13(1) per share (5.3 billion) 29.0% premium to the 20-day average SUN closing share price(2) Acquisition of SUN shares funded with ETP common units…
  13. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 13
    SUN Earnings Profile Three Months Ended (amounts in millions, except per unit amounts) March 31, 2012 2011 Logistics 57 31 Retail Marketing (6) 12 Refining & Supply (87) (138) Corporate and Other: Corporate expenses (14) (22) Net…
  14. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 14
    SXL Q1 2012 Earnings Highlights (amounts in millions) Three Months Ended March 31, 2012 2011 Sales and other operating revenue 3,401 2,258 Other income 2 2 Gain on divestments and related matters 11 - Total revenues 3,414 2,260…
  15. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 15
    SXL Q1 2012 Earnings Highlights (amounts in millions, except per unit amounts) Three Months Ended March 31, 2012 2011 Calculation of Limited Partners' interest: Net Income attributable to Sunoco Logistics Partners L.P. 95 48 Less:…
  16. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 16
    SXL Q1 2012 Earnings Highlights (amounts in millions) Three Months Ended March 31, 2012 2011 Capital Expenditure Data: Maintenance capital expenditures 7 3 Expansion capital expenditures 43 25 Total 50 28 March 31, December…
  17. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 17
    SXL Non-GAAP Financial Measures (amounts in millions) Three Months Ended March 31, 2012 2011 Net Income attributable to Sunoco Logistics Partners L.P. 95 48 Add: Interest expense, net 24 20 Add: Depreciation and amortization…
  18. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 18
    SXL: 1Q12 Unusual Items Sunoco Logistics non-recurring items during the first quarter of 2012: (amounts in millions) Adjusted Operating EBITDA & Income Item: Segment DCF Impact Impact Contract Settlement--Terminal Terminal…
  19. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 19
    SXL: Refined Products Pipelines (financial amounts in millions) Three Months Ended March 31, 2012 2011(1) Financial Highlights Sales and other operating revenue 31 27 Operating income 6 5 Depreciation and amortization expense 4 4…
  20. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 20
    SXL: Terminal Facilities (financial amounts in millions) Three Months Ended March 31, 2012 2011(1) Financial Highlights Sales and other operating revenue 135 93 Operating income 37 29 Depreciation and amortization expense 9 8…
  21. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 21
    SXL Crude Oil Pipelines (financial amounts in millions) Three Months Ended March 31, 2012 2011 Financial Highlights Sales and other operating revenue 80 71 Operating income 52 39 Depreciation and amortization expense 7 6…
  22. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 22
    SXL: Crude Oil Acquisition and Marketing (financial amounts in millions) Three Months Ended March 31, 2012 2011(1) Financial Highlights Sales and other operating revenue 3,192 2,098 Operating income 34 2 Depreciation and…
  23. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 23
    SUN Key Indicators 1Q11 2Q11 3Q11 4Q11 FY11 1Q12 Realized Margin Indicators Refining & Supply, /B 3.14 4.31 4.89 1.13 3.39 1.83 Retail Marketing, cpg Gasoline 6.7 12.2 10.3 9.8 9.8 5.9 Distillate 7.1 12.5 9.6 8.9 9.6 8.6…
  24. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 24
    SUN Key Volume Indicators Retail and R&S 1Q11 2Q11 3Q11 4Q11 FY11 1Q12 Retail Marketing Gasoline Sales, MM Gal 1,084 1,159 1,194 1,130 4,567 1,078 Middle Distillate Sales, MM Gal 97 106 118 114 435 103 Total Sales, MM Gal 1,181…
  25. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 25
    SUN Refining & Supply Gasoline and Distillate Production 1Q11 2Q11 3Q11 4Q11 FY11 1Q12 Total Refining & Supply Net Production, MB/D 512.4 461.1 487.0 451.4 477.9 340.3 Gasoline 52% 51% 51% 52% 52% 53% Middle Distillates 36% 36% 37%…
  26. 1Q12 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 26
    For More Information Media releases and SEC filings are available on our websites at www.SunocoInc.com and www.Sunocologistics.com Contact for more information: Clare McGrory (SUN) (215) 977-6764 Pete Gvazdauskas (SXL) (215)…

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