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Acquisition Presentation – Tesoro Logistics Lp

Tesoro Logistics Lp · Oct 20, 2014 · 16 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. Acquisition Presentation – Tesoro Logistics Lp – slide 1
    TESORO CREATES FULL-SERVICE LOGISTICS COMPANY TLLP ACQUIRES QEP FIELD SERVICES ASSETS October 20, 2014
  2. Acquisition Presentation – Tesoro Logistics Lp – slide 2
    TESORO CREATES FULL-SERVICE LOGISTICS COMPANY Expands growth opportunity into natural gas Immediate capabilities to offer integrated crude oil and natural gas services Tesoros execution track record applied to QEPFS growth potential…
  3. Acquisition Presentation – Tesoro Logistics Lp – slide 3
    TRANSACTION OVERVIEW Acquisition of QEP Field Services (QEPFS) for 2.5 billion by TLLP Interconnected Assets Leading provider of natural gas logistics 2,200 miles of natural gas and crude oil gathering and services in the Rockies…
  4. Acquisition Presentation – Tesoro Logistics Lp – slide 4
    EXPANDING INTO NATURAL GAS LOGISTICS Crude Oil and Refined Products Infrastructure Requirement1 Shale revolution driving significant 45 ( billions) opportunities in logistics infrastructure 30 Acquisition provides platform to…
  5. Acquisition Presentation – Tesoro Logistics Lp – slide 5
    EXECUTION DRIVES SHAREHOLDER VALUE 450% TSO Shareholder Return 350% 9 7 8 6 Shareholder Return 250% 5 TSO 150% 2 3 S&P 500 4 1 50% 2011 2012 2013 2014 -50% 1) Mandan Expansion Project Announced 6) TLLP…
  6. Acquisition Presentation – Tesoro Logistics Lp – slide 6
    INTEGRATED VALUE CHAIN CREATES OPPORTUNITIES Strategy to develop superior logistics around Tesoros assets strengthens integrated value chain Complementary business allows Tesoro to leverage competencies in logistics and…
  7. Acquisition Presentation – Tesoro Logistics Lp – slide 7
    TESORO DRIVING GROWTH WITH TLLP Tesoro Logistics Journey: Formed to leverage value of logistics assets Utilized for transformational growth Becoming full-service logistics company Driven to significantly grow Tesoros value…
  8. Acquisition Presentation – Tesoro Logistics Lp – slide 8
    TRANSACTION SUMMARY All cash transaction for 100% of QEP Field Services including 58% Structure interest in QEP Midstream Partners Total consideration to QEP Resources, Inc. of approximately 2.5 Purchase Price billion, including…
  9. Acquisition Presentation – Tesoro Logistics Lp – slide 9
    FINANCING OVERVIEW Total consideration of approximately 2.5 billion expected to be funded with: Equity offering 1.3 billion of TLLP common units, including Tesoro Corporation investment of 350 million for TLLP common units, GP will…
  10. Acquisition Presentation – Tesoro Logistics Lp – slide 10
    STRATEGIC FIT IN EXISTING GEOGRAPHIC FOOTPRINT Green River Basin Williston Basin Pinedale Gathering Rendezvous ND Gas Services (NY00813G) 576455_Map 1.psd Rendezvous WY Williston Basin Pipeline Gathering Company Blacks Fork…
  11. Acquisition Presentation – Tesoro Logistics Lp – slide 11
    ACQUISITION SUPPORTS TLLP STRATEGY Long-term, fee-based contracts Focus on Stable, Strong diversified customer base Fee-Based Business TLLP intends to enter into agreements with Tesoro to significantly reduce existing QEPFS…
  12. Acquisition Presentation – Tesoro Logistics Lp – slide 12
    PRODUCING EXCEPTIONAL UNITHOLDER RETURNS 350% TLLP Total Unitholder Return 10 9 10 250% 5 6 7 8 Unitholder Return TLLP 150% 4 Alerian 3 50% 2 1 2011 2012 2013 2014 -50% 1) IPO 6) Northwest Products System…
  13. Acquisition Presentation – Tesoro Logistics Lp – slide 13
    TRACK RECORD OF VALUE GROWTH High Plains Pipeline Gathering TLLP Terminalling Volume Natural Gas Throughput (MBD) (MBD) Acquired Assets (Bcf/d) Tesoro 3rd Party Potential Potential Potential IPO 2012 2013 3Q14 Future…
  14. Acquisition Presentation – Tesoro Logistics Lp – slide 14
    ACCELERATED ORGANIC GROWTH TLLP Income Capital Outlook ( million) 400 370 100 110 Rockies Natural Gas 300 260 TLLP Base Business 160 62 2013A 2014E 2015E 2016E Enhancing organic growth potential through expanded…
  15. Acquisition Presentation – Tesoro Logistics Lp – slide 15
    TESORO CREATES FULL-SERVICE LOGISTICS COMPANY Proforma Key Metrics Anacortes Crude Oil, Refined Product, and 3,500+ miles Kenai Bakken Natural Gas Pipelines Natural Gas Throughput Capacity 2,900+ MMcf/d Powder Mandan Natural Gas Inlet…
  16. Acquisition Presentation – Tesoro Logistics Lp – slide 16
    TLLP INVESTMENT HIGHLIGHTS Stable Cash Flow Well-Positioned Assets Strong Sponsorship Attractive, Visible Growth Experienced Opportunities Management Team 17

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