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Barclays MLP Corporate Access Day – JP Energy Partners LP

JP Energy Partners LP · Mar 31, 2016 · 24 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. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 1
    Barclays MLP Corporate Access Day March 2016
  2. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 2
    Q4 and FY 2015 Review
  3. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 3
    Q4 2015: Segment Performance Segment Q4 Performance Drivers Adjusted EBITDA by Segment (mm) Higher margins from more favorable NGL market conditions, cost control 7.9 Distribution Partially offset by volume declines NGL Distribution &…
  4. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 4
    FY 2015: Segment Performance Segment FY 2015 Performance Drivers Adjusted EBITDA by Segment (mm) Higher margins from more favorable NGL market conditions, cost control 30.9 Distribution Increase volumes from organic NGL Distribution &…
  5. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 5
    Balance Sheet & Liquidity (February 22, 2016) Available debt capacity expected to fully support planned 2016 organic capex Strong Metrics, Access to Capital Available Liquidity (mm)1 Maintained conservative leverage below 3.5x…
  6. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 6
    JP Energy Growth Update
  7. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 7
    Timeline of Achievements Supporting our Growth October 2014 Jan 2015 April 2015 Feb 2016 Completed Announced Silver Dollar Announces ethanol unit train Announced first Initial Public Pipeline interconnection project and…
  8. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 8
    2015 Major Accomplishments Major Accomplishments Growth: Grew Adjusted EBITDA by 31% year-over-year excluding the impact of corporate overhead support from our General Sponsor Silver Dollar Pipeline volumes grew 35% year-over-year…
  9. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 9
    Project Completions / Announcements Completed: Phase II of the Regan County Extension COKE MIDLAND GLASSCOCK + In January 2016, we completed Phase II of our Reagan JPEP - Silver Dollar Pipeline STERLING County extension to…
  10. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 10
    Growing a Diverse Mix of Stable Cash Flows 2015 Adjusted EBITDA1 2016 Planned Adjusted EBITDA2 Fee Based, 48% Variable Fee Variable Margin, Based, Margin, 44% 42% 33% Fixed Fixed Margin, Margin, 19% 15% Fee Based Fixed…
  11. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 11
    2016 Financial Guidance
  12. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 12
    2016 Adjusted EBITDA Guidance 2016 JP Energy Guidance 2016 Adjusted EBITDA of 50 - 56 million before considering any corporate overhead support(1) or any acquisitions we may undertake during the year Expected 2016 Adjusted EBITDA…
  13. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 13
    2016 Adjusted EBITDA Guidance by Segment 2016 Adjusted EBITDA and DCF Guidance (mm)(1)(2)(3) 1Q16 2Q16 3Q16 4Q16 2016 2015 Growth Adjusted EBITDA Guidance Range YoY Crude Oil Pipelines and Storage 5 -7 6 -8 6 -8 6 -8 26 - 27 24 2 -3…
  14. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 14
    Expense Reductions Driving Controllable Growth Adjusted EBITDA Walk-Forward (mm)(1) 60 Less Control / Market Sensitive 58 Some Control 55 Absolute Control 53 50 48 45 43 40 2015 Forecast Corporate Corporate NGL Reductions…
  15. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 15
    Strong Common Unit Distribution Coverage Discussion Quarterly Distributable Cash Flow (mm)(1)(2) Approximately half of the 16 2016 Quarterly Average DCF units outstanding are subordinated to the common 14 Total Unit unit holders,…
  16. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 16
    Crude Oil Pipelines and Storage 2016 Adjusted EBITDA Guidance Overview Expect 2016 Adjusted EBITDA to increase 3 million year-over-year Modest expectations for volume growth on our Silver Dollar Pipeline Expect full year average…
  17. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 17
    Asymmetric Crude Price / Volume Exposure Limited Further Crude Related Downside: 2016 Total Segment Adjusted EBITDA Approximately 20% of 2016 Adjusted EBITDA guidance for all operational segments is sensitive to crude volumes or…
  18. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 18
    Refined Products Terminals 2016 Adjusted EBITDA Guidance Overview Refined Products Terminals Adjusted EBITDA is expected to be relatively flat year-over-year Slight volume improvement expectation due to new customers added late in…
  19. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 19
    NGL Distribution and Sales 2016 Adjusted EBITDA Guidance Overview NGL Distribution and Sales Adjusted EBITDA is expected to grow considerably year-over-year Full year benefit of cylinder exchange margin improvement Growing retail…
  20. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 20
    Corporate 2016 Overhead Guidance Overview Normalized corporate overhead expense (before any benefit from General Partner support) is expected to decline year-over-year Lower public company expenses Lower headcount 2016 Corporate…
  21. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 21
    Selected Examples of Cost and Operating Expense Reductions 2.0 million in net 2016 savings from our crude trucking operations from: Positioning fleet closer to customers, reducing trucking miles Reducing fuel, repair and maintenance…
  22. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 22
    Appendix
  23. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 23
    Non-GAAP Reconciliation Adjusted EBITDA Three months ended December 31, Year ended December 31, 2015 2014 2015 2014 (in thousands) Segment Adjusted EBITDA Crude oil pipelines and storage 6,811 6,237 23,119 25,339 Refined products…
  24. Barclays MLP Corporate Access Day – JP Energy Partners LP – slide 24
    Non-GAAP Reconciliation Distributable Cash Flow Three months ended Year ended December 31, December 31, 2015 2015 (in thousands) Net cash provided by operating activities 21,775 46,041 Depreciation and amortization (13,365)…

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