Skip to main content MLP Conference – Sunoco Logistics Partners L.P. Investor Presentation | Shale Experts
Loading...
Pm

MLP Conference – Sunoco Logistics Partners L.P.

Sunoco Logistics Partners L.P. · Mar 1, 2016 · 66 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. MLP Conference – Sunoco Logistics Partners L.P. – slide 1
    Sunoco Logistics Partners L.P. NYSE MLP Conference SXL March 2016
  2. MLP Conference – Sunoco Logistics Partners L.P. – slide 2
    Sunoco Logistics Assets Note: Bakken and Bayou Bridge Pipelines are expected to start up in 2016. 3
  3. MLP Conference – Sunoco Logistics Partners L.P. – slide 3
    Sunoco Logistics and Energy Transfer Assets Note: Bakken and Bayou Bridge Pipelines are expected to start up in 2016. 4
  4. MLP Conference – Sunoco Logistics Partners L.P. – slide 4
    Energy Transfer Family of Companies LP Interest, GP Interest, IDRs ENERGY TRANSFER EQUITY, L.P. GP Interest, IDRs (NYSE: ETE) LP Interest, Class H Units(1) GP Interest, IDRs LP Interest, GP ENERGY TRANSFER ENERGY TRANSFER SUNOCO…
  5. MLP Conference – Sunoco Logistics Partners L.P. – slide 5
    Highlights Excellent Fourth Quarter Performance: 317MM Adjusted EBITDA 2nd highest quarter ever Record Full Year Performance: 1,153MM Adjusted EBITDA and 879MM Distributable Cash Flow Blue Bar EBITDA up 40% year-on-year…
  6. MLP Conference – Sunoco Logistics Partners L.P. – slide 6
    Highlights Capital Growth Four major projects providing diversified fee-based earnings growth in 2015: Permian Express 2 (crude oil) Mariner East 1 and Mariner South (NGLs) Allegheny Access (refined products) Balance Sheet: Strong…
  7. MLP Conference – Sunoco Logistics Partners L.P. – slide 7
    Adjusted EBITDA: Ratable and Market Related 1,400 1,200 1,153 Maximize asset base by taking advantage of 1,000 971 Adjusted EBITDA (MM) market opportunities 810 871 800 573 Distributions based on 600 ratable cash…
  8. MLP Conference – Sunoco Logistics Partners L.P. – slide 8
    EBITDA by Segment (amounts in millions) 2011 2012 2013 2014 2015 Crude Oil 431 612 701 669 656 Natural Gas Liquids 42 81 73 203 333 Refined Products 100 117 97 99 164 Total EBITDA 573 810 871 971 1,153 More diversified portfolio…
  9. MLP Conference – Sunoco Logistics Partners L.P. – slide 9
    Organic Expansion Capital Note: On February 25, 2016, the Partnership announced that its total expansion capital program, excluding acquisitions, for 2016 is expected to significantly decrease from the 2.5 billion level previously…
  10. MLP Conference – Sunoco Logistics Partners L.P. – slide 10
    Acquisitions Note: SXL does not comment on future acquisitions 11
  11. MLP Conference – Sunoco Logistics Partners L.P. – slide 11
    16 Successful Major Projects Major Organic and Joint Venture Projects: 3 West Texas Crude expansion projects (crude oil) Permian Express 1 (crude oil) Permian Express 2 (crude oil) Eaglebine Express (crude oil) Granite Wash…
  12. MLP Conference – Sunoco Logistics Partners L.P. – slide 12
    Project Execution in Progress Mariner South Mariner East 2 (End of 2014) (1H 2017) Mariner Mariner East 1 Allegheny Mariner East 1 Mariner East 2 West Propane Access Ethane & Propane Expansion* (4Q 2013) (4Q 2014) (End of 1Q 2015)…
  13. MLP Conference – Sunoco Logistics Partners L.P. – slide 13
    Crude Market Summary
  14. MLP Conference – Sunoco Logistics Partners L.P. – slide 14
    Dated Brent Daily Price 2008 Present 15
  15. MLP Conference – Sunoco Logistics Partners L.P. – slide 15
    World Oil Supply and Demand (2014 Versus 2013) Source: PIRA 16
  16. MLP Conference – Sunoco Logistics Partners L.P. – slide 16
    World Oil Supply and Demand (2015 Versus 2014) UPDATE Source: PIRA 17
  17. MLP Conference – Sunoco Logistics Partners L.P. – slide 17
    World Oil Supply and Demand (2016 Versus 2015) Source: PIRA 18
  18. MLP Conference – Sunoco Logistics Partners L.P. – slide 18
    World Oil Supply and Demand (2017 Versus 2016) Source: PIRA 19
  19. MLP Conference – Sunoco Logistics Partners L.P. – slide 19
    Oil Demand
  20. MLP Conference – Sunoco Logistics Partners L.P. – slide 20
    Annual GDP Growth by Key Area, % Source: PIRA 21
  21. MLP Conference – Sunoco Logistics Partners L.P. – slide 21
    World Oil Demand Growth (2011-2017) Source: PIRA 22
  22. MLP Conference – Sunoco Logistics Partners L.P. – slide 22
    Long-Term Oil Demand Growth Developed & Emerging Areas Source: PIRA 23
  23. MLP Conference – Sunoco Logistics Partners L.P. – slide 23
    Oil Supply
  24. MLP Conference – Sunoco Logistics Partners L.P. – slide 24
    Non-OPEC Supply Growth (2013-2017) U.S. drives supply growth to a decline in 2016 and freeze in 2017 Source: PIRA 25
  25. MLP Conference – Sunoco Logistics Partners L.P. – slide 25
    Latest EIA Weekly U.S. Crude Oil Production Data Source: Energy Information Administration 26
  26. MLP Conference – Sunoco Logistics Partners L.P. – slide 26
    U.S. Production Permian, Bakken, & Eagle Ford Source: Energy Information Administration 27
  27. MLP Conference – Sunoco Logistics Partners L.P. – slide 27
    OPEC Crude Production (MMB/D) 2015 2016 2017 Saudi Arabia 10.2 10.3 10.3 Kuwait/UAE 5.7 5.9 6.0 Iraq 4.0 4.4 4.4 Iran 2.9 3.3 3.6 Libya 0.4 0.4 0.5 Other OPEC 9.2 9.2 9.2 Total 32.3 33.4 34.0 Source: PIRA 28
  28. MLP Conference – Sunoco Logistics Partners L.P. – slide 28
    OPEC Spare Capacity at Historic Lows Source: PIRA 29
  29. MLP Conference – Sunoco Logistics Partners L.P. – slide 29
    Overall Crude Market Summary Low Prices are causing a supply response The US Shale decline is happening right now Other non OPEC could have larger, longer lasting impacts OPEC market share needs to grow Highest OPEC utilization in…
  30. MLP Conference – Sunoco Logistics Partners L.P. – slide 30
    Permian Basin
  31. MLP Conference – Sunoco Logistics Partners L.P. – slide 31
    United States Midcontinent Crude Production Growth (MBPD) 2013 2014 2015 2016 2017 2018 2019 2020 North Dakota (Bakken) 195 225 95 -125 -40 30 45 50 Eagle Ford 405 385 120 -245 10 370 255 180 Permian Basin 160 285 235 -10 155 275 275…
  32. MLP Conference – Sunoco Logistics Partners L.P. – slide 32
    Permian Production By Year (MB/D) Actual Projected 3,200 2,840 2,800 2,575 2,400 2,300 Production 2,025 2,000 1,880 1,870 1,645 1,600 1,360 1,200 1,200 1,050 800 400 11 12 13 14 15 16 17 18 19 20 Year…
  33. MLP Conference – Sunoco Logistics Partners L.P. – slide 33
    Nederland Terminal / Crude Projects
  34. MLP Conference – Sunoco Logistics Partners L.P. – slide 34
    Nederland Terminal 25 MMB Crude and NGL terminal Pipeline connected to most major crude pipelines and Mt Belvieu NGL Export Capability Crude Export Capability Connected to SPR 35
  35. MLP Conference – Sunoco Logistics Partners L.P. – slide 35
    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…
  36. MLP Conference – Sunoco Logistics Partners L.P. – slide 36
    Crude Projects: 11 Successful Major Projects Bakken Pipeline Joint Venture 4Q 2016* Bayou Bridge Joint Venture 1Q 2016** Committed Fee-based Income *Expected Start-up **1Q 2016 Expected Start-up for Nederland to Lake…
  37. MLP Conference – Sunoco Logistics Partners L.P. – slide 37
    NGL Market Outlook
  38. MLP Conference – Sunoco Logistics Partners L.P. – slide 38
    NGLs: U.S. as Big as Next 4 Largest Countries Combined Source: PIRA 39
  39. MLP Conference – Sunoco Logistics Partners L.P. – slide 39
    US Ethane Penetrating the European Market First movers (Mariner East) Ineos crackers in Rafnes, Norway and Grangemouth, Scotland Borealis cracker in Stenungsund, Sweden Recent Development Announced in November 2015 Shell / Exxon…
  40. MLP Conference – Sunoco Logistics Partners L.P. – slide 40
    Global Steam Cracker Feeds There is currently 5 MMBPD of Naphtha feeding steam crackers Source: PIRA 41
  41. MLP Conference – Sunoco Logistics Partners L.P. – slide 41
    Ethylene Cracking Capacity (January 2016) MM Tons % of Market U.S./Canada 33.5 20.5% Europe 25.2 15.4% Latin America 7.2 4.4% Africa/Middle East 32.3 19.8% China 22.5 13.8% SE Asia 24.3 14.9% Other Asia 13.6 8.3% FSU 4.7…
  42. MLP Conference – Sunoco Logistics Partners L.P. – slide 42
    NGL Projects
  43. MLP Conference – Sunoco Logistics Partners L.P. – slide 43
    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…
  44. MLP Conference – Sunoco Logistics Partners L.P. – slide 44
    Marcellus / Utica NGL Forecast Source: Bentek 45
  45. MLP Conference – Sunoco Logistics Partners L.P. – slide 45
    Marcus Hook Industrial Complex Mariner Infrastructure 46
  46. MLP Conference – Sunoco Logistics Partners L.P. – slide 46
    Marcus Hook Terminal Build-Out 47
  47. MLP Conference – Sunoco Logistics Partners L.P. – slide 47
    Mariner East Service Update ME 1 started up propane End of 2014 (30 MBPD, 7 months early) ME 1 ethane Started the commissioning process for ethane in late 2015 ME 2 scheduled for the first half of 2017 ME 2X is in open season…
  48. MLP Conference – Sunoco Logistics Partners L.P. – slide 48
    PDH at Marcus Hook In Development
  49. MLP Conference – Sunoco Logistics Partners L.P. – slide 49
    Global Propylene Supply and Demand - Global Propylene market is expected to grow by 33MM Metric Tons by 2020 - Lighter feed to crackers - PDH is a preferred choice 50
  50. MLP Conference – Sunoco Logistics Partners L.P. – slide 50
    Propylene Supply and Demand 51
  51. MLP Conference – Sunoco Logistics Partners L.P. – slide 51
    Summary
  52. MLP Conference – Sunoco Logistics Partners L.P. – slide 52
    Key SXL Takeaways Recent History Strategic Focus on Crude and Natural Gas Liquids First Mover First West Texas crude projects on line since the shale boom First Marcellus propane project offering local, regional & international…
  53. MLP Conference – Sunoco Logistics Partners L.P. – slide 53
    Key SXL Goals / Takeaways Going Forward Commitment to Growth New phase of growth in processing at Marcus Hook Opportunities within the Energy Transfer family M&A - Actively looking for right, strategic opportunities Commitment to…
  54. MLP Conference – Sunoco Logistics Partners L.P. – slide 54
    Appendix
  55. MLP Conference – Sunoco Logistics Partners L.P. – slide 55
    Crude Oil Map Note: Bakken Pipeline, Bayou Bridge, Delaware Basin and Permian LV & LA Extension are not currently operational 56
  56. MLP Conference – Sunoco Logistics Partners L.P. – slide 56
    Crude Oil Segment Highlights 57% of total EBITDA for the twelve months ended December 31, 2015 Approximately 5,900 miles of crude oil trunk and gathering lines located in the Southwest and Midwest U.S. Controlling interest in…
  57. MLP Conference – Sunoco Logistics Partners L.P. – slide 57
    Natural Gas Liquids Map Note: Mariner East 2 Pipeline is not currently operational 58
  58. MLP Conference – Sunoco Logistics Partners L.P. – slide 58
    Natural Gas Liquids Segment Highlights 29% of total EBITDA for the twelve months ended December 31, 2015 Approximately 900 miles of NGLs pipelines, primarily related to our Mariner systems in the Northeast and Southwest U.S. Marcus…
  59. MLP Conference – Sunoco Logistics Partners L.P. – slide 59
    Refined Products Map 60
  60. MLP Conference – Sunoco Logistics Partners L.P. – slide 60
    Refined Products Segment Highlights 14% of total EBITDA for the twelve months ended December 31, 2015 Approximately 1,800 miles of refined products pipelines, located in the Northeast, Midwest and Southwest U.S. Controlling Interest…
  61. MLP Conference – Sunoco Logistics Partners L.P. – slide 61
    SXL Non-GAAP Financial Measures (MM) 2011 2012 2013 2014 2015 Net Income 322 531 474 300 397 Interest expense, net 89 79 77 67 134 Depreciation and amortization expense 86 139 265 296 382 Impairment charge 31 9 - - - Non-cash…
  62. MLP Conference – Sunoco Logistics Partners L.P. – slide 62
    Historical Financial Results (MM) 2011 2012 2013 2014 2015 Crude Oil 431 612 701 669 656 Natural Gas Liquids 42 81 73 203 333 Refined Products 100 117 97 99 164 Total Adjusted EBITDA 573 810 871 971 1,153 Interest expense, net…
  63. MLP Conference – Sunoco Logistics Partners L.P. – slide 63
    Debt Maturity Schedule at 12/31/2015 (MM) 900 800 800 700 700 600 600 500 500 400 400 350 350 300 300 300 250 250 200 175 100 0 6.13% 5.50% 4.40% 4.65% 3.45% 4.25% 5.95% 6.85% 6.10% 4.95% 5.30% 5.50% '16 - '20…
  64. MLP Conference – Sunoco Logistics Partners L.P. – slide 64
    SXL Key Financial and Operating Statistics 2011 2012 2013 2014 2015 Total Total 1st 2nd 3rd 4th Total 1st 2nd 3rd 4th Total 1st 2nd 3rd 4th Total Financial highlights (in millions) Sales and other operating revenue Crude Oil…
  65. MLP Conference – Sunoco Logistics Partners L.P. – slide 65
    SXL Key Financial and Operating Statistics 2011 2012 2013 2014 2015 Total Total 1st 2nd 3rd 4th Total 1st 2nd 3rd 4th Total 1st 2nd 3rd 4th Total Reconciliation of Segment Operating Income to Net Income Attributable to Sunoco Logistics…
  66. MLP Conference – Sunoco Logistics Partners L.P. – slide 66

From the store

Browse maps, data & reports in the Shale Experts store