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2016 MLP Investor Conference – Western Refining Logistics, Lp

Western Refining Logistics, Lp · Jun 2, 2016 · 15 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. 2016 MLP Investor Conference – Western Refining Logistics, Lp – slide 1
    MLPA 2016 Annual Investor Conference June 2-3, 2016 NYSE:WNRL
  2. 2016 MLP Investor Conference – Western Refining Logistics, Lp – slide 2
    Investment Highlights Assets in, or near, growing Delaware and San Juan crude oil basins Well-Positioned Assets in Shale-focused, crude oil production in these basins are experiencing continued Growing Regions growth Long-Term,…
  3. 2016 MLP Investor Conference – Western Refining Logistics, Lp – slide 3
    Well-Positioned Assets in Growing Regions 685 miles of pipelines and gathering systems in the Southwestern U.S. 8.2 million barrels of active storage capacity for refined products, crude oil and other products Four refined…
  4. 2016 MLP Investor Conference – Western Refining Logistics, Lp – slide 4
    Pipeline Logistics System FourCornersSystem Pipeline logistics system capable of delivering crude oil from Four Corners to Gallup, TexNewMexSystem El Paso, or to Midland/ Gulf Coast via 3rd party pipelines Opportunities for…
  5. 2016 MLP Investor Conference – Western Refining Logistics, Lp – slide 5
    Stable and Predictable Cash Flows Gross Profit Covered by MVCs1 Operating Income by Business Segment Non MVC Wholesale 36% 42% Logistics MVC 58% 64% Q1 2016 Gross Profit: 72.4 million Q1 2016 Operating Income: 21.4…
  6. 2016 MLP Investor Conference – Western Refining Logistics, Lp – slide 6
    WNRL Counterparties Top 25 WNRL Counterparties Non Investment Not Rated Grade…
  7. 2016 MLP Investor Conference – Western Refining Logistics, Lp – slide 7
    Significant Organic Growth Potential Increase throughput on existing Delaware Basin system 49% Q1 2016 volume (bpd) 38% Capacity (bpd) Q1 2016 utilization 49,486 20,533 Mainline Pipeline Permian/ Delaware Basin Truck…
  8. 2016 MLP Investor Conference – Western Refining Logistics, Lp – slide 8
    Pool of Potential Acquisition Opportunities Project Description Northern Tier Storage tanks / Terminals / Pipelines / Trucking (Traditional Logistics) TexNew Mex Economics associated with crude oil throughput on TexNew Mex…
  9. 2016 MLP Investor Conference – Western Refining Logistics, Lp – slide 9
    Strategic Relationship with Western Refining Access to high quality, advantaged crude oil from Delaware and San Juan basins Refineries El Paso: product distribution areas include W.TX, AZ, NM and Mexico Gallup: product distribution…
  10. 2016 MLP Investor Conference – Western Refining Logistics, Lp – slide 10
    Financial Results Distribution Per Unit 1 EBITDA ( millions) 0.4025 28.5 27.7 27.7 27.0 24.7 24.2 0.2875 16.1 14.7 14.9 11.6 18.8 15.9 16.5 15.3 14.8 14.0 12.3 10.9 11.0 8.5 Q4 '13 Q1 '14 Q2 '14 Q3…
  11. 2016 MLP Investor Conference – Western Refining Logistics, Lp – slide 11
    Financial Flexibility to Support Significant Growth Capitalization Table As of ProForma Recent 80 million equity offering in (mm) 3-31-16 Adj. 3-31-16 Cash & Cash Equivalents 29 29 May 2016 300 million Revolving Credit Facility 130…
  12. 2016 MLP Investor Conference – Western Refining Logistics, Lp – slide 12
    Investment Highlights Well-Positioned Assets in Growing Regions Long-Term, Fee-Based Contracts Provide Stable and Predictable Cash Flows Significant Growth Opportunities Strategic Relationship with WNR Refineries…
  13. 2016 MLP Investor Conference – Western Refining Logistics, Lp – slide 13
    Appendix
  14. 2016 MLP Investor Conference – Western Refining Logistics, Lp – slide 14
    Reconciliation of EBITDA and Distributable Cash Flow Three Months Ending ( thousands) December March 31, June 30, September December March 31, June 30, September December March 31, 1 31, 2013 2014 2014 30, 2014 31, 2014 2015 2015…
  15. 2016 MLP Investor Conference – Western Refining Logistics, Lp – slide 15
    Partnership Information Unit Information 1 Number of Units (000): Public 15,906 Unit Price (5-25-2016): 22.23 WNR Common 8,580 Yield: 7.2% 2 WNR Subordinated 22,811 WNR GP - Total 47,297 IDR Structure Marginal Percentage…

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