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2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P.

Rose Rock Midstream, L.P. · Nov 15, 2012 · 28 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. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 1
    2012 RBC Capital Markets MLP Conference November 15-16, 2012
  2. 2012 RBC CAPITAL MARKETS 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. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 3
    SemGroup Corporation Rose Rock Midstream, L.P. (NYSE: SEMG) (NYSE: RRMS) Listed on NYSE November 2010 IPO December 2011 C-Corp MLP Owns RRMS General Partner Owner/Operator of all RRMS assets Total Equity Value(1) 1,560 Total LP…
  4. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 4
    SEMG Ownership Structure Rose Rock Midstream GP, LLC NYSE: SEMG Incentive Distribution Rights Public Public 41.9 mm 7.0 mm Shares 2% GP Interest Outstanding Common Units 40.9% LP Interest SemMaterials White Cliffs…
  5. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 5
    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…
  6. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 6
    Crude and Gas Assets in Key Growth Areas Primary assets located in the Liquids Fairway in the Mid-Continent Region Montney/Duvernay Canadian sour and Montney/ sweet gas processing Duvernay Shale Bakken liquids gathering and…
  7. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 7
    Crude Business Overview Rose Rock Midstream Storage 7 million barrels in Cushing, OK 5-7 year contracts first expiration 2015 Connectivity to all major inbound/outbound pipelines Transportation 640 miles of pipeline in Kansas…
  8. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 8
    Crude Business Overview SemGroup White Cliffs Pipeline 51% ownership and operator 527 miles, 70,000+ barrels per day capacity 80,000 barrel per day expansion announced 20,000 barrels per day take or pay Platteville, CO 10,000…
  9. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 9
    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…
  10. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 10
    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…
  11. 2012 RBC CAPITAL MARKETS 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 Mississippi Lime Play in Oklahoma Contributed Agreement finalized SemStream to NGL Announced plans for Glass Mountain…
  12. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 12
    Rose Rock Midstream Annualized Distribution per LP Unit 2012 Target Coverage Ratio 1.15-1.2x 2.00 1.53 1.57 1.45 1.49 1.50 1.00 4Q 1Q 2Q 3Q 2011 2012 2014 E 8.3% cumulative increase in distributions since IPO (1)…
  13. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 13
    Strong Platform for Growth Drop Downs Organic 3rd Party from Growth Acquisitions SemGroup Substantial infrastructure demands in emerging resource plays 14
  14. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 14
    2012 Capex Guidance 2012 Capital Expenditures - 230 million 5 4 2% 2% 11 12 5% Crude - RRMS 4 21 33 5% 9% 14% 2% Crude - SEMG Growth SemGas 53 Maintenance 23% SemCAMS 209 Refurbishment 91% 108 Corp and Other…
  15. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 15
    Future Growth in Drop Downs Total Adjusted Assets EBITDA (in millions) Asset Description 12/31/11 FY 2011 527-mile crude oil pipeline White Cliffs Pipeline 70,000 barrels per day capacity 144.9 25.6 (51% ownership) 100,000 barrels…
  16. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 16
    Key Investment Considerations Strategically Located Assets that Provide a Strong Platform Well positioned to add strategic infrastructure in growing unconventional oil for Growth and gas plays SEMG and RRMS investing 230 million in…
  17. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 17
    Appendix
  18. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 18
    SEMG Total Shareholder Return 90% SEMG 80% 70% 60% 50% 40% 30% 20% 10% 0% -10% 9/30/2011 1/31/2012 5/31/2012 9/28/2012 SEMG SEMG Peer Average S&P 500 85% 63% 30% (1) SEMG Peer Comp includes: KMI, OKE, TRGP, WMB Source:…
  19. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 19
    RRMS Total Unitholder Return 80% 70% RRMS 60% 50% 40% 30% 20% 10% 0% -10% 9/30/2011 1/17/2012 5/15/2012 9/14/2012 Rose Rock Midstream L.P.(1) Peer Average(2) Alerian MLP ETF 66% 44% 16% (1) RRMS begins at IPO…
  20. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 20
    SemGroups Fee-based Business Model Gross Margin Contribution(1) 6% Business Unit Fixed Fee Variable Fee Marketing 7% SemGas 5% 95% SemCAMS 100% SemLogistics 100% SemMaterials Mexico 100% 87% White Cliffs Pipeline 100% Rose…
  21. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 21
    SemGroup Results Segment Adjusted EBITDA (in millions, unaudited)(1) Assets 3Q 2012 YTD 2012(2) Crude(3) RRMS, White Cliffs Pipeline, Glass Mountain Pipeline, Wattenberg Oil Trunkline 21.2 61.6 SemGas Northern Oklahoma processing &…
  22. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 22
    2012 Capex Guidance SemGroup and Rose Rock Midstream 2012 Capital Expenditures 230 million 5 4 2% 2% 11 5% Crude - RRMS 12 21 33 4 5% 9% 14% 2% Crude - SEMG Growth SemGas 53 Maintenance 23% SemCAMS 209 Refurbishment 91%…
  23. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 23
    RRMS Ownership Structure Public 7.0 mm 100% Interest Common Units Rose Rock Midstream GP, LLC 1.4 mm Common Units Incentive Distribution Rights 8.4 mm Subordinated Units 2% GP Interest 40.9% LP Interest 57.1% LP Interest…
  24. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 24
    RRMS Strategically Located Assets Cushing KS/OK Pipeline 7 million barrels of storage and Storage 96% under long-term fixed fee contracts with third parties- first expiration 2015 All tanks constructed since 2008 Capacity to…
  25. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 25
    RRMS Strategically Located Assets Bakken Shale 8,200 barrels per day 30-day evergreen contracts Two truck unloading facilities 17 gathering trucks Bakken Transport via truck, rail or third party pipeline Operation 61,800 barrels of…
  26. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 26
    Cushing Market Overview Pipelines Into Cushing Pipelines Out of Cushing Rose Rock Midstream ConocoPhillips (2) White Cliffs Pipeline Plains Keystone BP Spearhead (Canadian) Ozark Plains (5) W. Tulsa Oxy Sunoco Sunoco…
  27. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 27
    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…
  28. 2012 RBC CAPITAL MARKETS MLP CONFERENCE – Rose Rock Midstream, L.P. – slide 28
    SemMaterials Mxico Provide asphalt products and services 15 in-country terminals 2 National labs Importing product to diversify suppliers Diversified customer base 29

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