Sunoco Logistics Partners L.P. Second Quarter 2016 Earnings Conference Call August 4, 2016
Highlights Strong First Half Performance in Difficult Macro Environment: 594MM Adjusted EBITDA and 456MM Distributable Cash Flow As expected, substantially all of the 60MM favorable LIFO crude accounting reported in 1Q16 earnings…
Highlights Capital Projects: Revised 2016 Capital Guidance to 1.4B (Reduced from 2.5B) Commenced operations on the Delaware Basin Extension & Permian Longview and Louisiana Extension crude oil pipeline projects Announced the sale of…
LIFO Crude Accounting Simplified Conceptual Example Quarter A Quarter B Quarter C Quarter D Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Sale 1 Sale 7 Purchase Purchase 1 7 Sale 2 Sale 6 Purchase…
LIFO Inventory Accounting Crude, NGL & RP (amounts in millions) YoY 2016 2015 Variance First Quarter 52 (25) 77 Second Quarter (57) 25 (82) Year to Date - June (5) - (5) Timing of LIFO inventory accounting resulted in…
Latest EIA Weekly U.S. Crude Oil Production Data Source: Energy Information Administration 7
U.S. Production Permian, Bakken, & Eagle Ford Source: Energy Information Administration 8
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…
Scheduled Project Start-up Mariner South Mariner East 2 (End of 2014) (2Q 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)…
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…
Mariner East Capacity 70 MB/D for ME 1 Initial Capacity 275 MB/D for ME 2 Connecting to 4 Fractionator Upside Capacity 800 MB/D for Mariner East Origin Locations in the Basin World-Class NGL Facility at Marcus Hook…
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…
Crude Projects: 11 Successful Major Projects Bakken Pipeline Joint Venture End of 2016* ** Bayou Bridge Joint Venture 2Q 2016 Committed Fee-based Income *Expected Start-up **On August 2, 2016 the Partnership…
APPENDIX
SXL Q2 2016 Financial Highlights (amounts in millions) Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Sales and other operating revenue 2,268 3,202 4,045 5,774 Cost of products sold (1) 1,991 2,837 3,404…
SXL Q2 2016 Financial Highlights (amounts in millions, except per unit amounts) Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Calculation of Limited Partners' interest: Net Income attributable to Sunoco…
SXL Q2 2016 Financial Highlights (amounts in millions) Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Capital Expenditures: Expansion 391 486 965 909 Maintenance 14 16 27 31 Acquisitions - - - 131…
SXL Q2 2016 Financial Highlights (amounts in millions) June 30, December 31, 2016 2015 Balance Sheet Data: Cash and cash equivalents 36 37 Revolving credit facilities 1,263 562 Senior Notes 4,800 4,975 Unamortized fair value…
SXL Non-GAAP Financial Measures (amounts in millions) Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Net Income 202 277 348 314 Interest expense, net 39 31 78 60 Depreciation and amortization expense 109…
Crude Oil Segment Highlights 57% of total EBITDA for the twelve months ended December 31, 2015 Crude oil trunk and gathering lines located in the Southwest and Midwest U.S. Controlling interest in Mid-Valley (91%) Equity interest in…
SXL Crude Oil Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Financial Highlights (in millions) Sales and other operating revenue 1,892 2,799 3,272 5,125 Adjusted EBITDA 114 163 338 323 (1) Operating…
Natural Gas Liquids Segment Highlights 29% of total EBITDA for the twelve months ended December 31, 2015 NGLs pipelines, primarily related to our Mariner systems in the Northeast and Southwest U.S. Marcus Hook Industrial Complex…
SXL Natural Gas Liquids Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Financial Highlights (in millions) Sales and other operating revenue 196 343 429 529 Adjusted EBITDA 78 129 152 157 Operating…
Refined Products Segment Highlights 14% of total EBITDA for the twelve months ended December 31, 2015 Refined products pipelines, located in the Northeast, Midwest and Southwest U.S. Controlling interest in Inland Pipeline (83.8%)…
SXL Refined Products Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 Financial Highlights (in millions) Sales and other operating revenue 180 60 344 120 Adjusted EBITDA 53 34 104 67 (1) Operating…
SXL Key Financial and Operating Statistics 2012 2013 2014 2015 2016 Total Total 1st 2nd 3rd 4th Total 1st 2nd 3rd 4th Total 1st 2nd Total Financial highlights (in millions) Sales and other operating revenue Crude Oil 12,526…
SXL Key Financial and Operating Statistics 2012 2013 2014 2015 2016 Total Total 1st 2nd 3rd 4th Total 1st 2nd 3rd 4th Total 1st 2nd Total Reconciliation of Segment Operating Income to Net Income Attributable to Sunoco Logistics…
Loading...
