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NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P.

Rose Rock Midstream, L.P. · May 23, 2013 · 33 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 CONFERENCE – Rose Rock Midstream, L.P. – slide 1
    NAPTP MLP Conference Norm Szydlowski May 23, 2013
  2. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 2
    Non-GAAP Financial Measures SemGroup Adjusted EBITDA is presented in this presentation for certain periods. Adjusted EBITDA is not a U.S. generally accepted accounting principles (GAAP) measure and is not intended to be used in lieu…
  3. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 3
    Rose Rock Midstream Ownership Structure 4
  4. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 4
    Business Strategy Capitalize on Organic Generate Consistent Growth Opportunities Operating Margins, with Existing and Earnings and Cash Flows New Assets Grow Our Business Maintain Financial Through Strategic and Flexibility…
  5. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 5
    Rose Rock Midstream Crude Business Overview Cushing 7.25 million barrels of storage 96% under long-term fixed fee contracts with third-party customers and one affiliated company with first expiration of third-party contract in 2015…
  6. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 6
    Rose Rock Midstream Crude Business Overview (contd) Bakken Shale Average marketed volumes of 7,100 barrels per day for FY 2012 30-day evergreen contracts Two truck unloading facilities 17 gathering trucks Bakken Transport via…
  7. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 7
    Crude Key Performance Metrics Cushing Storage Capacity Transportation Volumes(2) 7.6 million barrels in 2013 (Thousand Barrels per Day) 49.0 48.5 53.3 55.7 8 50 44.8 37.5 6 40 32.1 30.9 27.2 30 4 6.75 7.00 6.75 6.15 20 2…
  8. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 8
    Rose Rock Midstream 2013 Adjusted EBITDA Guidance 56 to 60 million(1) 2013 Adjusted EBITDA Guidance Assumptions 2013 vs 2012 Adjusted EBITDA (in millions) + Average crude price 93 70 + Full year EBITDA contribution 50 40 + 1.95…
  9. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 9
    Future Growth in Drop Downs Rose Rock Midstreams relationship with SemGroup allows for potential future drop downs Total Adjusted Assets EBITDA (in millions) Asset Description 12/31/12 FY 2012 527-mile crude oil pipeline - 70,000 bpd…
  10. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 10
    Appendix
  11. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 11
    Track Record of Value Creation Agreement with Eagle Energy Company to gather and process natural gas in the Announced Mississippi Lime Play Agreement SemGroup proposed in Oklahoma Contributed finalized for Purchased dropped down…
  12. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 12
    SemGroup Corp Ownership Structure 13
  13. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 13
    SemGroup Corporate Crude Business Overview White Cliffs Pipeline 34% ownership 527-mile crude oil pipeline from DJ Basin to Cushing, OK Current capacity 70,000 barrels per day Growth Debottlenecking project - completion June…
  14. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 14
    DJ Basin Overview Nobles DJ Basin Activity Anadarkos DJ Basin Activity 2.1 BBoe net resources 1.0 - 1.5 BBoe net resources 1.7 BBoe net oil 4,000+ horizontal drilling locations 8,000 drilling locations in the oil window Accelerating…
  15. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 15
    Cushing is a Liquidity Hub Designated point of delivery for NYMEX crude oil futures contracts Cushing Commentary North American Oil Flow Continues to serve as the primary crude Alberta Basin Legend oil hub in the U.S. Alberta…
  16. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 16
    Crude and Gas Assets in Key Growth Areas Primary assets located in the Liquids Fairway in the Mid-Continent Region Montney/ Duvernay Shale Montney/Duvernay Canadian sour and sweet gas gathering and processing Bakken Liquids…
  17. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 17
    Natural Gas Business Overview SemCAMS (Canada) Located in: Western Canadian Sedimentary Basin sour gas Montney Shale liquids rich sour gas Duvernay Shale liquids rich sweet gas Two sour and two sweet natural gas processing plants…
  18. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 18
    SemGas Key Performance Metrics Average Processing Volumes Processing and Gathering Capacity(2) by Location 2013 Northern Oklahoma Capacity 200 mmcf/d 100 19.6 18.4 241 80 18.4 18.8 250 17.8 60 200 mmcf/d mmcf/d 15.8 150 116…
  19. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 19
    SemGroup Proposed Acquisition Mississippi Lime Gas Gathering & Processing 300 million purchase price, subject to post-closing adjustments Anticipate to close by 3Q 2013 200 miles of gathering pipeline currently in service Rose…
  20. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 20
    Pro-Forma Mississippi Lime(1) (1) Includes proposed CHK acquisition 21
  21. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 21
    SemLogistics Largest independent petroleum products storage facility in U.K. Receive product from the Middle East and Europe and deliver to Europe, West Africa and the United States 8.7 million barrels of storage Two deep water…
  22. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 22
    SemMaterials Mxico Provide asphalt products and services 15 in-country terminals 2 National labs Importing product to diversify suppliers Diversified customer base 23
  23. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 23
    SemGroups Fee-based Business Model Gross Margin Contribution(1) Fixed Fee Variable Fee Marketing 87% SemGas 4% 96% SemCAMS 100% SemLogistics 100% 9% SemMaterials Mexico 100% 4% White Cliffs Pipeline 100% Rose Rock Midstream (2)…
  24. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 24
    SemGroup First Quarter Results As Reported (in millions, excluding EPS, unaudited) 1Q 2013 4Q 2012 Net income attributable to SemGroup 43.4 21.1 Net income per share - diluted 1.03 0.50 (1) EBITDA 9.6 33.6 (1) Selected Non-Cash…
  25. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 25
    SemGroup Segment Results Segment Adjusted EBITDA(1) (in millions, unaudited) 1Q 2013 4Q 2012 (2) Crude 25.9 24.2 SemGas 3.9 3.2 SemCAMS 4.8 12.4 SemLogistics 0.1 1.1 SemMaterials Mexico 0.3 4.3 SemStream 4.0 3.9 Corp and Other…
  26. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 26
    SemGroup Operating Results Quarterly Average Operating Results 1Q 2013 4Q 2012 Crude Cushing Storage Capacity (million barrels) 7.0 7.0 Transportation Volumes (thousands barrels per day) 55.7 53.3 White Cliffs Pipeline Throughput…
  27. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 27
    Rose Rock Midstream First Quarter Results As Reported (in millions, unaudited) 1Q 2013 4Q 2012 Operating income 13.7 5.1 (1) EBITDA 17.3 8.2 (1) Selected Non-Cash Items and Other Items Impacting Comparability (0.9) 1.7 Adjusted…
  28. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 28
    Cash Distributions NGL Energy Partners LP Rose Rock Midstream, L.P. (NYSE: NGL) (NYSE: RRMS) (in thousands, excluding per unit amounts) (in thousands, excluding per unit amounts) NGL common units owned by SemGroup 9,133 Common units…
  29. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 29
    2013 Goals Safety Maintain strong safety and environmental record Deliver on Financial Targets Achieve Adjusted EBITDA and Capex Guidance Disciplined Investments Execute 2013 capital program Selectively pursue third-party…
  30. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 30
    SemGroup Corporation 2013 Adjusted EBITDA Guidance 165 to 175 million(1) 2013 Adjusted EBITDA Guidance Assumptions Adjusted EBITDA 2013 vs 2012 (in millions) Crude + Average crude price 93 200 RRMS 180 + Full year EBITDA + 1.95…
  31. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 31
    2013 Capex Guidance SemGroup and Rose Rock Midstream 2013 Capital Expenditures 400 million(1) 12 Crude - RRMS 3% 27 7% Crude - SEMG 163 41% 112 SemGas 28% SemCAMS 56 30 14% 7% Other Growth Projects Maintenance,…
  32. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 32
    Strong Platform for Growth Drop Downs Organic 3rd Party from Growth Acquisitions SemGroup Substantial infrastructure demands in emerging resource plays 33
  33. NAPTP MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 33
    Key Investment Considerations Strategically Located Assets that Provide a Strong Well positioned to add strategic infrastructure in growing Platform for Growth unconventional oil and gas plays SEMG and RRMS investing 400 million…

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