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2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P.

Blueknight Energy Partners, L.P. · Aug 18, 2016 · 25 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 – Blueknight Energy Partners, L.P. – slide 1
    2016 Citi MLP/Midstream Infrastructure Conference August 17 18, 2016 The Smart Move in Energy Private and Confidential (NASDAQ: BKEP & BKEPP)
  2. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 2
    Partnership Overview Private and Confidential 3 (NASDAQ: BKEP & BKEPP)
  3. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 3
    Partnership Overview Blueknight Energy Partners, L.P. (BKEP) is a publicly traded master limited partnership Headquartered in Oklahoma City, Oklahoma; established in 2007 General Partner currently owned equally by Vitol and…
  4. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 4
    Common and Preferred Units Common Units Preferred Units Market NASDAQ NASDAQ Symbol BKEP BKEPP Outstanding 37,049,876 30,147,624 Yield at 8/11/16 10.0% 9.6% Distribution 0.145/unit for quarter ended June 30, 2016 0.715/unit…
  5. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 5
    Current Ownership Charlesbank Capital Partners Vitol Holding B.V. CB-Blueknight, LLC Blueknight Energy Holding, Inc. 50.0% 50.0% Ownership Ownership Interest Interest Blueknight GP Holding, LLC (DE) 13.4% Limited 13.4%…
  6. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 6
    Diversified Operations Asphalt Terminal Crude Oil Terminalling and Network (61.5%) Storage (27.9%) 8.2 million barrels of 6.6 million barrels of asphalt and residual Cushing, OK storage fuel oil storage 0.2 million barrels of 45…
  7. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 7
    Blueknight Overview Private and Confidential 8 (NASDAQ: BKEP & BKEPP)
  8. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 8
    Asphalt Services Largest independently owned asphalt terminal network 8.2 million barrels of asphalt and residual fuel oil storage capacity in 45 terminals across 23 states Generate revenues by charging fees for the lease of…
  9. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 9
    Crude Oil Terminalling & Storage Services Customer Value Creation Provides our customers the ability to effectively manage their crude oil inventories and add significant flexibility in their marketing and operating activities Cushing…
  10. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 10
    Crude Oil Pipeline Services: Oklahoma Systems Mid-Continent Mainline System 400-mile active pipe gathering and transportation network that gathers wellhead crude oil at a capacity of approximately 20,000 bpd Transports crude oil to…
  11. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 11
    Crude Oil Pipeline Services: East Texas System East Texas System 85 active miles of mostly intrastate crude oil pipelines near Longview, Texas Connected to Mid-Valley pipeline systems delivering crude oil to the Midwest and local…
  12. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 12
    Crude Oil Pipeline Services: West Texas BKEP has 30% ownership and operates the 16 Pecos River Pipeline under a long-term service agreement with Advantage Pipeline, L.L.C. Provides crude transportation from west Texas to the Gulf…
  13. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 13
    Crude Oil Trucking & Producer Field Services Crude Trucking Crude oil trucking operations extend our ability to gather and aggregate crude oil on our systems and deliver product for third parties to their facilities Approximately…
  14. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 14
    Recent Developments and Growth Projects Private and Confidential 15 (NASDAQ: BKEP & BKEPP)
  15. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 15
    Ergon Transaction On July 19, 2016, BKEP announced a transaction with Ergon, whereby Ergon will purchase BKEPs General Partner in a private transaction and, in turn contribute nine asphalt services terminals to BKEP valued at 108.8…
  16. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 16
    Ergon Transaction Transaction Details Simplified Pro Forma Organizational Structure(1) Ergon Asphalt & Emulsions, Inc., a subsidiary of Jackson, Mississippi-based Ergon, Inc. (Ergon), agreed to purchase 100% of the membership…
  17. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 17
    Post-Ergon Transaction Ownership Chart Ergon, Inc. 25.8% Limited Ergon Asphalt & Emulsions, Inc. Partner Interest 100.0% Ownership Interest Blueknight GP Holding, LLC (DE) 100.0% Indirect Ownership Interest…
  18. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 18
    Post-Ergon Operations Map Private and Confidential 19 (NASDAQ: BKEP & BKEPP)
  19. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 19
    Strategic Rationale Ergon has been a long-term customer of Blueknight and is an ideal sponsor to help support and facilitate the growth of the Partnership Ergon has significant experience owning pipelines, terminalling and storage…
  20. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 20
    Overview of Ergon A Leading Energy Private, family-owned company formed in 1954 and based in Jackson, Mississippi Company with Over 6 Presence in over 12 countries worldwide, over 2,500 employees globally Decades of Experience One of…
  21. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 21
    Other Growth Opportunities Asphalt Projects Re-Contracting Upside with Existing BKEP Plants Additional Acquisitions Potential green-field projects Crude Oil Pipeline Projects Oklahoma SCOOP Condensate Pipeline Project…
  22. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 22
    Fee-Based Business Model Operating Margin Segment Percent of Contracted Fixed Fee Total Take-or-Pay Fixed Fee Variable Volumes Revenue (Non-Commodity Price Sensitive) (Non-Commodity Price Sensitive) Asphalt Services 40.8% 95.3%…
  23. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 23
    Key Investment Highlights Cushing Interchange: Resident player at core location for crude oil distribution and marketing Attractive Core Base Asphalt Facilities: Geographic diversification in key domestic markets with multiple potential…
  24. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 24
    Financial Summary Private and Confidential 25 (NASDAQ: BKEP & BKEPP)
  25. 2016 Citi MLP Midstream Infrastructure Conference – Blueknight Energy Partners, L.P. – slide 25
    Reconciliation of Adjusted EBITDA and Distributable Cash Flow to Net Income Adjusted EBITDA The following table presents a reconciliation of adjusted EBITDA to net income for the periods shown: Twelve Months Ended Six Months Ended…

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