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Chickasaw Capital Management MLP Investor Conference – Buckeye Partners Lp

Buckeye Partners Lp · Sep 21, 2016 · 13 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. Chickasaw Capital Management MLP Investor Conference – Buckeye Partners Lp – slide 1
    Chickasaw Capital Management MLP Investor Conference Houston, TX September 21, 2016
  2. Chickasaw Capital Management MLP Investor Conference – Buckeye Partners Lp – slide 2
    Buckeye Partners, L.P. Overview Buckeye has a long and distinguished history as a midstream logistics leader through the last 130 years Founded in 1886 oThe original Buckeye Pipe Line Company was founded in 1886 as part of John D.…
  3. Chickasaw Capital Management MLP Investor Conference – Buckeye Partners Lp – slide 3
    2008 2016 BPL Performance Buckeyes operational & strategic excellence has continued to generate value throughout varied business conditions and multiple price cycles EBITDA / Assets Market Capitalization & Price Per Unit 1,200 12.0…
  4. Chickasaw Capital Management MLP Investor Conference – Buckeye Partners Lp – slide 4
    TRANSFORMATION SINCE 2010 Significant Geographic Diversification From Global Marine Terminals Segment Provides Acquisitions Significant Diversification in Adjusted EBITDA(1) 949.9 868.1 763.6 648.8 41% 559.5 37% 31% 487.9 23%…
  5. Chickasaw Capital Management MLP Investor Conference – Buckeye Partners Lp – slide 5
    DIVERSIFICATION 0%DRIVES STABILITY 3% Diversified portfolio generates stable, fee-based cash flows; 95% of our June 30 YTD Adjusted EBITDA was fee-based PRODUCT DIVERSIFICATION 2010 Refined(1) 2016(3) Buckeye Texas Partners 3%…
  6. Chickasaw Capital Management MLP Investor Conference – Buckeye Partners Lp – slide 6
    SYSTEM MAP Chicago Complex NY Harbor Caribbean Geographically Diversified Gulf Coast Four Buckeye Hubs 7
  7. Chickasaw Capital Management MLP Investor Conference – Buckeye Partners Lp – slide 7
    LOOKING FORWARD Expect to maintain quarterly distribution Strong balance sheet with sufficient liquidity to fund growth of 0.0125 per quarter for 2016 capital needs without accessing capital markets Buckeye has limited commodity…
  8. Chickasaw Capital Management MLP Investor Conference – Buckeye Partners Lp – slide 8
    INTERNAL GROWTH CAPITAL PROJECTS Expect to invest 300-340 million in growth capital DOMESTIC PIPELINES & TERMINALS GLOBAL MARINE TERMINALS oProjects to address the west to east market shift as Corpus Christi refiners look for…
  9. Chickasaw Capital Management MLP Investor Conference – Buckeye Partners Lp – slide 9
    WEST TO EAST MARKET SHIFT Buckeye expects to benefit from offering advantaged Midwestern refiners further transportation options to eastern markets Michigan/Ohio Expansion Phase One West versus East Gasoline Pricing Differential(1)…
  10. Chickasaw Capital Management MLP Investor Conference – Buckeye Partners Lp – slide 10
    FINANCIAL PERFORMANCE Adjusted EBITDA (in millions)(1)(2) Cash Distribution Coverage Ratio(1)(2)(3) Cash Distributions per Unit Declared(2) Debt to Adjusted EBITDA Ratio(2) (1) 2013 and 2014 amounts represent Adjusted EBITDA…
  11. Chickasaw Capital Management MLP Investor Conference – Buckeye Partners Lp – slide 11
    NON-GAAP RECONCILIATIONS
  12. Chickasaw Capital Management MLP Investor Conference – Buckeye Partners Lp – slide 12
    NON-GAAP FINANCIAL MEASURES Adjusted EBITDA and distributable cash flow are measures not defined by GAAP. Adjusted EBITDA is the primary measure used by our senior management, including our Chief Executive Officer, to: (i) evaluate our…
  13. Chickasaw Capital Management MLP Investor Conference – Buckeye Partners Lp – slide 13
    NON-GAAP RECONCILIATIONS In millions, except ratios 2008 2009 2010 2011 2012 2013 2014 2015 LTM(3) Adjusted EBITDA from continuing operations (1)(2) : Domestic Pipelines & Terminals 262.3 308.9 351.6 368.9 422.7 486.5 532.1 522.2…

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