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2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P.

Nustar Energy L.P. · Aug 17, 2016 · 26 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 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 1
    2016 Citi One-on-One MLP/Midstream Infrastructure Conference August 17 & 18, 2016
  2. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 2
    NuStar Overview
  3. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 3
    Two Publicly Traded Companies Public Unitholders William E. Greehey 34.0 million NSH Units 9.0 million NSH Units 79.1% Membership Interest 20.9% Membership Interest 2% G.P. Interest in NS IPO Date: 4/16/2001 13.0% L.P. Interest…
  4. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 4
    Resilient and Strong Core Operations, No Matter the Price of a Barrel of Crude Coverage Ratio1 (Trailing Twelve Months) vs Price of Crude (April 2014 June 2016) 1.3 120 110 1.2 100 1.12x 1.12x 1.12x 1.11x 90 1.1 1.08x 1.08x…
  5. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 5
    Large and Diverse Geographic Footprint with Assets in Key Locations Pt. Tupper, Nova Scotia 7.8MM bbls Linden, NJ 4.6MM bbls St. James, LA 9.9MM bbls Corpus Christi, TX Destination for South Texas Crude Oil Pipeline…
  6. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 6
    Majority of Segment EBITDA Generated by Fee-Based Pipeline and Storage Segments Percentage of 2015 Segment EBITDA (for the year ended 12/31/15) Pipeline: 50% Refined Product Pipelines 50% Crude Oil Pipelines Ammonia Pipeline…
  7. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 7
    Building on Our Strengths - Stable, Diversified Business Foundation for Future Growth Contracted fee-based storage and pipeline assets provide stable cash flows Storage terminals effectively full 75% of pipeline revenues are…
  8. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 8
    Expect 180 to 200 Million of Strategic Spending in 2016 (Dollars in Millions) 800 690 700 600 316 500 431 395 400 101 143 300 262 43 200 374 294 302 328 288 180 100 219 to 200 0 2010 2011 2012 2013 2014 2015 2016…
  9. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 9
    Pursuing Pipeline and Storage Opportunities Included in 2016 Spending Guidance Construction of 260M Currently Evaluating bbls of New Storage in the Central East Linden Terminal West Coast Terminal Expansion Expansions Multiple…
  10. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 10
    No Debt Maturities until 2018 (LTD Maturity Profile as of June 30, 2016, Dollars in Millions) 1,250 Receivables Financing Sub Notes 1,000 Callable in 2018, but GO Zone Financing final maturity in 2043 810 57 Senior Unsecured…
  11. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 11
    Pipeline Segment
  12. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 12
    Pipeline Segment Overview Pipeline Segment EBITDA1 Pipeline Receipts by Commodity ( in millions) TTM as of 6/30/16 335 to 355 355 323 Other 10% 277 Distillate 211 Crude 199 198 17% 186 190 43% Gasoline 30% 2008 2009…
  13. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 13
    Throughputs in NuStars South Texas Crude Oil Pipeline System 290 300 270 272 263 255 238 218 207 193 190 191 200 179 190 168 173 179 175 161 149 131 131 131 120 112 100 4Q 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 1Q 2015 2Q…
  14. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 14
    NuStars South Texas Pipeline Presence Pawnee to Oakville PL 12 Second Phase of Expansion 12 Choke Canyon PL 12 Pettus South 10 Laredo PL 8 Houston 12 Corpus-Odem-3R 8 Oakville to Corpus 16 Valley PL…
  15. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 15
    Working with Pemex to Develop Project to Transport LPGs and Refined Products from the U.S. Into Northern Mexico Delays due to organizational changes within Pemex Originally planned 125 million spend in 2016. Due to project delay,…
  16. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 16
    NuStar Expanding Mid-Continent Pipeline and Terminal Network Several projects have been completed or are under development with a key customer to increase distillate and propane supply throughout the Upper Midwest for an investment…
  17. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 17
    Storage Segment
  18. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 18
    Storage Segment Overview Storage Segment EBITDA1 ( in millions) 335 310 to 330 279 287 287 277 256 242 208 2008 2009 2010 2011 2012 2013 * 2014 2015 2016 Forecast * adjusted 2016 segment EBITDA expected to decrease…
  19. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 19
    Piney Point Terminal Back in Service Piney Point Terminal 5.4 million-barrel storage facility located in Piney Point, Maryland, along the Potomac River Primary storage capabilities include gasoline, distillates and other clean…
  20. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 20
    Fuels Marketing Segment
  21. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 21
    Fuels Marketing Segment Benefits Base Business Segment is composed of: Refined Products Marketing Primarily butane blending, which is a consistent and low risk business Bunkering Crude & Fuel Oil Trading Fuels Marketing Segment…
  22. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 22
    Appendix
  23. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 23
    Capital Structure (as of June 30, 2016, Dollars in Millions) 1.5 billion Credit Facility 1,031 NuStar Logistics Notes (4.75%) 250 NuStar Logistics Notes (4.80%) 450 NuStar Logistics Notes (6.75%) 300 NuStar Logistics Notes (7.65%)…
  24. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 24
    Reconciliation of Non-GAAP Financial Information NuStar Energy L.P. utilizes financial measures, such as earnings before interest, taxes, depreciation and amortization (EBITDA), distributable cash flow (DCF) and distribution coverage…
  25. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 25
    Reconciliation of Non-GAAP Financial Information (continued) The following is a reconciliation of projected operating income to projected EBITDA for the year ended December 31, 2016 (in thousands of dollars): Fuels Marketing Pipeline…
  26. 2016 Citi MLP Midstream Infrastructure Conference – Nustar Energy L.P. – slide 26
    Reconciliation of Non-GAAP Financial Information (continued) The following is a reconciliation of income from continuing operations to EBITDA from continuing operations and DCF from continuing operations (in thousands of dollars): For…

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