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Q1 2015 Earnings Call – Sunoco Logistics Partners L.P.

Sunoco Logistics Partners L.P. · May 7, 2015 · 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. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 1
    Sunoco Logistics Partners L.P. First Quarter 2015 Earnings Conference Call May 7, 2015
  2. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 2
    Highlights 1Q Results: 221MM Adjusted EBITDA / 160MM Distributable Cash Flow Blue Bar EBITDA up over 30% compared to first quarter 2014 Results were negatively impacted by 25MM due to LIFO accounting Expect a reversal of this…
  3. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 3
    Highlights Capital: 2014 organic capital of 2.5 billion 2015 updated organic capital guidance of 2.5 billion Includes 30% interest in ETP Bakken Pipeline Project 2015 maintenance capital guidance of 70 million 2015 Financing…
  4. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 4
    12 Consecutive Quarters of 5% Distribution Growth Guidance 5% quarter over quarter increases in 2015 Note: Values adjusted for the two-for-one unit split completed on June 12, 2014 5
  5. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 5
    Major Organic Projects 14 Successful SXL Open Seasons: 3 West Texas Crude expansion projects (crude oil) Permian Express 1 (crude oil) Permian Express 2 (crude oil) Eaglebine Express (crude oil) Granite Wash Extension (crude oil)…
  6. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 6
    Organic Expansion Capital 3,000 2,500 Investment (MM) 2,000 1,500 1,000 500 0 2010 2011 2012 2013 2014 2015P Organic Expansion Capital 7
  7. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 7
    Scheduled Project Start-up 8
  8. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 8
    Mariner Franchise: 4 Successful Open Seasons Mariner East 1 Ethane / Propane from Houston to Marcus Hook 4Q 2014* Mariner West Ethane from Houston to Sarnia 4Q 2013 Mariner South Mariner East 2 Propane / Butane from Mont…
  9. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 9
    Mariner South Natural Gas Liquids Export propane and butane from our Nederland terminal on the Gulf Coast: Mariner South Propane and Butane from Mont Belvieu to Nederland Joint project between SXL and End of 2014 Lone Star…
  10. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 10
    Mariner East 1 Natural Gas Liquids A Comprehensive Marcellus Shale Solution: Natural Gas Liquids from Houston, PA to the Marcus Hook Industrial Complex Mix of Propane & Ethane Approx. 70 MB/D capacity Propane commenced operation…
  11. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 11
    Allegheny Access Refined Products Allegheny Access Midwest products to Eastern Ohio Ohio Products to Pittsburgh End of 1Q 2015 and Western Pennsylvania: Utilizes existing and new assets Capacity of 85 MB/D End of 1Q15…
  12. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 12
    Crude Projects: 9 Successful Open Seasons 3 West Texas Crude Expansions Granite Wash Extension Permian Crude to multiple markets Granite Wash Crude to multiple markets 2012 - 2014 4Q 2014 Permian Express 1 Permian Crude to…
  13. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 13
    Permian Express 2 Crude Oil Additional West TX Crude Expansion: Increase takeaway capacity out of the Permian Basin Provides access to multiple markets Approx. 200 MB/D capacity Expected to be operational in 3Q15 Fee-based…
  14. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 14
    APPENDIX
  15. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 15
    SXL Update to Product Pipeline Statistics Products Pipelines Operating Highlights 2011 2012 2013 2014 Total Total 1st 2nd 3rd 4th Total 1st 2nd 3rd 4th Total Operating Highlights (Previously Reported): Pipeline throughput (thousands…
  16. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 16
    SXL Q1 2015 Financial Highlights (amounts in millions) Three Months Ended March 31, 2015 2014 Sales and other operating revenue 2,572 4,477 Cost of products sold 2,309 4,210 Operating expenses (1) 49 41 Selling, general and…
  17. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 17
    SXL Q1 2015 Financial Highlights (amounts in millions, except per unit amounts) Three Months Ended March 31, 2015 2014 Calculation of Limited Partners' interest: Net Income attributable to Sunoco Logistics Partners L.P. 36 107 Less:…
  18. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 18
    SXL Q1 2015 Financial Highlights (amounts in millions) Three Months Ended March 31, 2015 2014 Capital Expenditures: Expansion 423 465 Maintenance 15 18 Acquisitions 131 - Investment in joint venture interests - 42 Total 569…
  19. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 19
    SXL Q1 2015 Financial Highlights (amounts in millions) March 31, December 31, 2015 2014 Balance Sheet Data: Cash and cash equivalents 54 101 Revolving credit facilities 385 185 Senior Notes 3,975 3,975 Unamortized fair value…
  20. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 20
    SXL Non-GAAP Financial Measures (amounts in millions) Three Months Ended March 31, 2015 2014 Net Income 37 110 Interest expense, net 29 16 Depreciation and amortization expense 82 69 Provision for income taxes 6 5 Non-cash…
  21. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 21
    SXL Crude Oil Pipelines Three Months Ended March 31, 2015 2014 Financial Highlights (in millions) Sales and other operating revenue 135 131 Adjusted EBITDA 95 93 Operating Highlights Pipeline throughput (thousands of bpd)…
  22. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 22
    SXL Crude Oil Acquisition and Marketing Three Months Ended March 31, 2015 2014 Financial Highlights (in millions) Sales and other operating revenue 2,208 4,094 Adjusted EBITDA 31 12 Operating Highlights Crude oil purchases…
  23. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 23
    SXL Terminal Facilities Three Months Ended March 31, 2015 2014 Financial Highlights (in millions) Sales and other operating revenue 244 287 Adjusted EBITDA 52 86 Operating Highlights Terminal throughput (thousands of bpd):…
  24. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 24
    SXL Products Pipelines Three Months Ended March 31, 2015 2014 Financial Highlights (in millions) Sales and other operating revenue 63 41 Adjusted EBITDA 43 17 (1) (2) Operating Highlights Pipeline throughput (thousands of…
  25. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 25
    SXL Key Financial and Operating Statistics 2011 2012 2013 2014 2015 Total Total 1st 2nd 3rd 4th Total 1st 2nd 3rd 4th Total 1st Total Financial highlights (in millions) Sales and other operating revenue Crude Oil Pipelines 319 398…
  26. Q1 2015 Earnings Call – Sunoco Logistics Partners L.P. – slide 26
    SXL Key Financial and Operating Statistics 2011 2012 2013 2014 2015 Total Total 1st 2nd 3rd 4th Total 1st 2nd 3rd 4th Total 1st Total Reconciliation of Segment Operating Income to Net Income Attributable to Sunoco Logistics Partners…

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