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FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P.

Sunoco Logistics Partners L.P. · Feb 21, 2013 · 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. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 1
    Sunoco Logistics Partners L.P. Fourth Quarter 2012 Earnings Conference Call February 21, 2013
  2. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 2
    Forward-Looking Statements You should review this slide presentation in conjunction with the fourth quarter 2012 earnings conference call for Sunoco Logistics Partners L.P., held on February 21 at 8:30 a.m. ET (7:30 a.m. CT). You may…
  3. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 3
    Highlights Record quarterly performance: 219 million Adjusted EBITDA (1) 165 million Distributable Cash Flow (DCF) (1) Record full year performance: 810 million Adjusted EBITDA (1) 604 million Distributable Cash Flow (1) 324…
  4. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 4
    Highlights Grew ratable business approximately 20% year over year 5% distribution increase (quarter over quarter): 2.07/unit to 2.18/unit (annualized) 30% increase over 4Q11 distribution of 1.68/unit (annualized) 31st consecutive…
  5. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 5
    Adjusted EBITDA: Ratable and Market Related Maximize asset base by 900 810 taking advantage of 800 market opportunities 700 573 Adjusted EBITDA (MM) 600 500 Distributions based on 372 399 400 ratable cash 319 300 200…
  6. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 6
    Major Organic Projects Successful Open Seasons: Three West Texas Crude expansion projects (crude oil) Permian Express Phase I (crude oil) Mariner West (natural gas liquids) Mariner East (natural gas liquids) Allegheny Access (refined…
  7. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 7
    Organic Growth Capital Optimize current asset base 700 Invest in organic extensions 600 500 Organic Projects: Investment (MM) West Texas Crude Projects 400 Permian Express 300 Mariner Projects 200 Allegheny Access 100…
  8. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 8
    Original 110 MB/D West Texas Expansion Crude Oil West Texas Crude Expansion: Strong demand for takeaway capacity out of the Permian Basin Existing crude pipeline Multiple destinations 3 Successful Open Seasons Houston Access 40…
  9. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 9
    Permian Express Crude Oil Additional West TX Crude Expansion: Continued strong demand for takeaway capacity out of the Permian Basin Phase I: Successful Open Season Permian Express I Wichita Falls to Nederland Permian Crude to…
  10. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 10
    Mariner West and East Natural Gas Liquids Mariner West Ethane from Houston to Sarnia Mariner East E/P from Houston to Marcus Hook 10
  11. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 11
    Mariner West and East Details Comprehensive Marcellus Shale Pipeline Solution Strong demand for NGL takeaway capacity out of the Marcellus Successful Open Seasons for both West and East Fee-based income Primarily existing pipeline…
  12. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 12
    Allegheny Access Refined Products Midwest products to Eastern Ohio Allegheny Access and Western Pennsylvania: Ohio Products to Pittsburgh Strong demand to move Midwest refined products east Refinery expansions Refinery economics…
  13. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 13
    APPENDIX 13
  14. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 14
    Joint Venture (JV) Ownership Consolidated Affiliates (JVs): Inland Mid-Valley West Texas Gulf SXL 83.8% SXL 91.0% SXL 60.3% Citgo 16.2% Chevron 9.0% Chevron 28.3% Citgo 11.4% Unconsolidated Affiliates (JVs): Explorer* West Shore…
  15. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 15
    2008 2012 Prior Disclosure Adjusted EBITDA (amounts in millions) Twelve Months Ended December 31, 2008 2009 2010 2011 2012 Net Income attributable to Sunoco Logistics Partners L.P. 214 250 346 313 520 Interest expense, net 31 45 73…
  16. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 16
    Adjusted EBITDA Restatement Category Prior Definition Restatement Proportionate share of Unconsolidated Recorded at SXL's Recorded at SXL's Affiliates' (JV) interest, depreciation ownership share of JV's ownership share of JV's and…
  17. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 17
    2008 2012 Restated Adjusted EBITDA (amounts in millions) Twelve Months Ended December 31, 2008 2009 2010 2011 2012 Adjusted EBITDA (prior disclosure) 291 343 366 544 767 Proportinate share of unconsolidated affiliates' interest,…
  18. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 18
    DCF Restatement Category Prior Definition Restatement Distributions versus Adjusted No Adjustment Subtract Adjusted EBITDA; EBITDA of Unconsolidated add cash dividends received(1) Affiliates Distributable Cash Flow No Adjustment…
  19. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 19
    2008-2012 DCF Restatement (amounts in millions) Twelve Months Ended December 31, 2008 2009 2010 2011 2012 Adjusted EBITDA (new definition) 319 372 399 573 810 Traditional DCF Adjustments Interest expense, net* (31) (45) (73) (89)…
  20. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 20
    SXL Q4 2012 Earnings Highlights (amounts in millions) Three Months Ended Twelve Months Ended December 31, December 31, 2012 2011 2012 2011 Sales and other operating revenue 3,189 3,376 13,110 10,905 Other income 5 4 23 13 Gain on…
  21. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 21
    SXL Q4 2012 Earnings Highlights (amounts in millions, except per unit amounts) Three Months Ended Twelve Months Ended December 31, December 31, 2012 2011 2012 2011 Calculation of Limited Partners' interest: Net Income attributable…
  22. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 22
    SXL Q4 2012 Earnings Highlights (amounts in millions) Three Months Ended Twelve Months Ended December 31, December 31, 2012 2011 2012 2011 Capital Expenditure Data: Maintenance 21 22 50 42 Expansion 118 69 324 171 Major…
  23. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 23
    SXL Non-GAAP Financial Measures (amounts in millions) Three Months Ended Twelve Months Ended December 31, December 31, 2012 2011 2012 2011 Net Income 142 79 531 322 Interest expense, net 14 26 79 89 Depreciation and amortization…
  24. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 24
    SXL YTD Unusual Items Sunoco Logistics non-recurring items year-to-date 2012: (amounts in millions) Adjusted EBITDA & Item Segment DCF Impact 1Q12 Contract Settlement - Terminal Terminal Facilities 6 Contract Settlement -…
  25. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 25
    SXL Crude Oil Pipelines (financial amounts in millions) Three Months Ended Twelve Months Ended December 31, December 31, 2012 2011 2012 2011 Financial Highlights Sales and other operating revenue 110 86 398 319 Adjusted EBITDA(1)…
  26. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 26
    SXL Crude Oil Acquisition and Marketing (financial amounts in millions) Three Months Ended Twelve Months Ended December 31, December 31, 2012 2011 2012 2011 (1) Financial Highlights Sales and other operating revenue 2,888 3,135…
  27. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 27
    SXL Terminal Facilities (financial amounts in millions) Three Months Ended Twelve Months Ended December 31, December 31, 2012 2011 2012 2011 (1) Financial Highlights Sales and other operating revenue 206 156 612 435 Adjusted…
  28. FOURTH QUARTER 2012 EARNINGS CONFERENCE CALL – Sunoco Logistics Partners L.P. – slide 28
    SXL Refined Products Pipelines (financial amounts in millions) Three Months Ended Twelve Months Ended December 31, December 31, 2012 2011 2012 2011 (1) Financial Highlights Sales and other operating revenue 35 37 131 130 Adjusted…

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