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Citi MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp

Western Refining Logistics, Lp · Aug 17, 2016 · 14 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. Citi MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 1
    2016 Citi One-on-One MLP/Midstream Infrastructure Conference August 17, 2016 NYSE: WNRL
  2. Citi MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 2
    Investment Highlights Assets in Delaware and San Juan crude oil basins Well-Positioned Assets Shale-focused, crude oil production is experiencing continued growth Long-Term, Fee-Based Long-term, fee-based contracts with Western…
  3. Citi MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 3
    Well-Positioned Assets 685 miles of pipelines and gathering systems in the Southwestern U.S. 8.4 million barrels of active storage capacity for refined products, crude oil and other products Four refined products terminals…
  4. Citi MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 4
    Pipeline Logistics System Four Corners System Pipeline logistics system capable of delivering crude oil from Four Corners to Gallup, TexNew Mex System El Paso, or to Midland/ Gulf Coast via 3rd party pipelines Opportunities for…
  5. Citi MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 5
    Stable and Predictable Cash Flows Gross Profit Covered by MVCs1 Operating Income by Business Segment Wholesale 37% Non MVC 46% MVC Logistics 54% 63% YTD Q2 2016 Gross Profit: 146.8 million YTD Q2 2016 Operating Income:…
  6. Citi MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 6
    Significant Organic Growth Potential Increase throughput on existing Delaware Basin system 56% Q2 2016 volume (bpd) Capacity (bpd) 33% Q2 2016 utilization 55,953 17,823 Mainline Pipeline Permian/ Delaware Basin Truck…
  7. Citi MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 7
    Pool of Potential Acquisition Opportunities Project Description St. Paul Park Storage tanks / Terminals / Pipelines / Trucking Logistics Assets TexNew Mex Economics associated with crude oil throughput on TexNew Mex Crude Oil…
  8. Citi MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 8
    Strategic Relationship with Western Access to high quality, advantaged crude oil from Delaware, San Juan and Bakken basins El Paso: product distribution areas include W.TX, AZ, NM and Refineries Mexico St. Paul Park: product…
  9. Citi MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 9
    Financial Results 1 EBITDA Distribution Per Unit ( millions) 0.4125 31.8 0.2875 11.6 17.9 8.5 Q4 '13 Q1 '14 Q2 '14 Q3 '14 Q4 '14 Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2' 16 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2…
  10. Citi MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 10
    Financial Flexibility to Support Significant Growth Capitalization Table As of 92 million equity offering in May 2016 (mm) 6-30-16 Cash & Cash Equivalents 18 Proceeds used to repay Revolver 300 million Revolving Credit Facility…
  11. Citi MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 11
    Investment Highlights Well-Positioned Assets Long-Term, Fee-Based Contracts Provide Stable and Predictable Cash Flows Significant Growth Opportunities Strategic Relationship with WNR Refineries Western Asphalt…
  12. Citi MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 12
    Appendix
  13. Citi MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 13
    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, June 30, 31, 2013 2014 2014 30, 2014 31, 2014 1…
  14. Citi MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 14
    Partnership Information Unit Information 1 Number of Units (000): Public 20,226 Unit Price (8-08-2016): 24.32 WNR Common 8,580 Yield: 6.8% 2 WNR Subordinated 22,811 WNR GP - Total 51,617 IDR Structure Marginal Percentage…

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