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 (15%) 98 million (25%) 83 million (21%) 101 million (25%) 57 million…
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 Refiners are the shipper of approximately 85% of total crude oil moved through our onshore pipelines Onshore Crude Oil…
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 Deepwater Gulf of Mexico activity is flat to slightly up from year…
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 H2S 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 Supply & Logistics (S&L)…
Exxon Mobil Baton Rouge Pipeline/Rail/Terminal Project 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…
Raceland Rail/Terminal Project Raceland Rail/Terminal 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 tracks…
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 6 push-boats on order for arrival starting…
Marine Transportation 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…
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 3/31/2015 EBITDA Adjustment 3/31/2015 Senior Secured (a) 588,962 588,962 Senior Unsecured 1,050,000 1,050,000 Pro Forma…
Pro Forma Segment Margin Reconciliation ( in 000s) Pro Forma LTM 3 months Ended March 31, 3/31/2015 2015 2014 2014 2013 Segment Margin Excluding Depreciation and Amortization: Onshore Pipeline Transportation 60,865 14,323 14,689 61,231…
Available Cash Before Reserves ( in 000s) Pro Forma LTM 3 months Ended March 31, 3/31/2015 2015 2014 2014 2013 Income from Continuing Operations 96,642 20,215 29,775 106,202 84,004 Depreciation and amortization 98,753 27,125 19,280…
Pro Forma EBITDA Reconciliation ( in 000s) Pro Forma LTM 3 months Ended March 31, 3/31/2015 2015 2014 2014 2013 Income from Continuing Operations 96,642 20,215 29,775 106,202 84,004 Depreciation and amortization 98,753 27,125 19,280…
Adjusted Debt Reconciliation ( in 000s) Pro Forma LTM Long-term debt 3/31/2015 2014 2013 Senior secured credit facility 648,400 550,400 582,800 Senior Unsecured Notes 1,050,000 1,050,000 700,000 Adjustment for short-term hedged…
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