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RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp

Martin Midstream Partners Lp · Nov 15, 2017 · 42 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. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 1
    TEXT GOES HERE SUBTEXT IS PLACED HERE 2017 R B C - M L P I N V E S TO R CONFERENCE NOVEMBER 16
  2. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 2
    WELCOME & MMLP OVERVIEW
  3. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 3
    MARTIN MIDSTREAM PARTNERS L.P. OVERVIEW (MMLP) OVERVIEW NASDAQ Listed: MMLP Formed October 31, 2002 TEXT GOES HERE MMLP is a publicly traded, diversified masterSlimited U B T partnership EXT IS PLACED HERE with operations…
  4. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 4
    MARTIN MIDSTREAM PARTNERS L.P. KEY INVESTMENT HIGHLIGHTS Fee-Based Contracts Majority (nearly 70%) of cash flows generated from fee-based contracts which include take or pay, T Eminimum XT G O Ecommitments S HERE reservation and…
  5. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 5
    MARTIN MIDSTREAM PARTNERS L.P. OVERVIEW M M L P A S S E T L O C AT I O N S A L L S E G M E N T S TEXT GOES HERE SUBTEXT IS PLACED HERE 8
  6. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 6
    MARTIN MIDSTREAM PARTNERS L.P. STRONG FEE BASED CONTRACT MIX Natural Gas Services Fee-based, multi-year natural gas storage contracts (weighted average TEXT GOES HERE life approximately 4 years as of December 31,S2016) UBTEXT IS…
  7. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 7
    MARTIN MIDSTREAM PARTNERS L.P. H I GH Q UALI TY LO NG- TERM C USTOMER BA S E Long-term customer relationships are a key driver of our success Full value chain solutions for handling and logistics TEXT GOES HERE Customers include some…
  8. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 8
    MARTIN RESOURCE MANAGEMENT CORPORATION OVERVIEW ( MRMC) OVERVIEW Based in Kilgore, TX, since 1951, MRMC is a leading independent provider of storage, manufacturing, marketing, and distribution services to energy, petrochemical and…
  9. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 9
    MARTIN MIDSTREAM PARTNERS L.P. S T R O N G G E N E R A L PA R T N E R S U P P O R T MRMCs operations support MMLPs cash flow MRMCs distinct assets and business units are TEXT GOES HERE complementary to MMLP SUBTEXT IS PLACED HERE…
  10. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 10
    MARTIN MIDSTREAM PARTNERS L.P. 2017E GUIDANCE BY SEGMENT TEXT GOES HERE SUBTEXT IS PLACED HERE Natural Gas Services Terminalling & Storage 76.9 2017 59.1 Sulfur Services Marine Transportation 29.8 157.4 million Adjusted…
  11. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 11
    O P E R AT I O N A L O V E R V I E W 14
  12. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 12
    MARTIN MIDSTREAM PARTNERS L.P. N AT U R A L G A S S E R V I C E S O V E R V I E W Cardinal Gas Storage operates approximately 50 billion cubic feet of natural gas storage capacity across four facilities throughout northern Louisiana…
  13. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 13
    MARTIN MIDSTREAM PARTNERS L.P. NATURAL GAS SERVICES CARDINAL GAS STORAGE Firm Contracted/Fee-Based Storage Model Cardinal Contract Summary Firm contracted model for natural gas storage with T EXT GOES HERE Working Gas Currently Type…
  14. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 14
    MARTIN MIDSTREAM PARTNERS L.P. NATURAL GAS SERVICES C A R D I N A L G A S S T O R A G E A S S E T L O C AT I O N S TEXT GOES HERE SUBTEXT IS PLACED HERE Arcadia Gas Storage Salt dome facility (Arcadia, LA) 16.3 bcf Perryville…
  15. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 15
    MARTIN MIDSTREAM PARTNERS L.P. NATURAL GAS SERVICES B U TA N E O P T I M I Z AT I O N Butane Optimization Refineries adjust the vapor pressure of gasoline toT EXT GOES HERE meet seasonal EPA standards and are allowed StoUblend BTEXT…
  16. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 16
    MARTIN MIDSTREAM PARTNERS L.P. NATURAL GAS SERVICES W E S T T E X A S L P G P I P E L I N E L . P. ( W T L P G ) The WTLPG system is approximately 2,300 miles of Y-grade pipeline from Eastern New Mexico to Mt. Belvieu, TX MMLP owns 20%…
  17. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 17
    MARTIN MIDSTREAM PARTNERS L.P. NATURAL GAS SERVICES N G L s & P R O PA N E NGL Propane Assets include 200-mile East Texas Pipeline transporting T E XY- T G O E SWholesale H E Rpropane E distribution to approximately 100 grade from…
  18. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 18
    MARTIN MIDSTREAM PARTNERS L.P. TERMINALLING & STORAGE OVERVIEW MMLP operates 40 terminal facilities with an aggregate storage capacity of 3.7 million barrels These facilities provide storage, refining, blending, packaging and handling…
  19. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 19
    MARTIN MIDSTREAM PARTNERS L.P. TERMINALLING & STORAGE S P E C I A LT Y T E R M I N A L S Specialty Terminals Overview T EofX Network of 14 terminals which facilitate the movement T GOES HERE SUBTEXT IS PLACED HERE petroleum…
  20. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 20
    MARTIN MIDSTREAM PARTNERS L.P. TERMINALLING & STORAGE S P E C I A LT Y T E R M I N A L S Expertise In Hard to Handle Product and By-Product Logistics Specialized Sites T E X T G O E S H E RSpecialized E Sites (continued) SUBTEXT IS…
  21. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 21
    MARTIN MIDSTREAM PARTNERS L.P. TERMINALLING & STORAGE MARINE SHORE-BASED TERMINALS Gulf Coast Fuel and Lubricant Distribution Network T EALXtoT 26 terminals along the Gulf Coast from Blakeley Island, GO E S H Econtract Fee-based R…
  22. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 22
    MARTIN MIDSTREAM PARTNERS L.P. TERMINALLING & STORAGE S M A C KO V E R R E F I N E R Y Specialized Naphthenic Refinery T EinX 7,700 bpd capacity naphthenic lube refinery located T G OFee-based E S Hcontract E R Estructure provides…
  23. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 23
    MARTIN MIDSTREAM PARTNERS L.P. TERMINALLING & STORAGE MARTIN LUBRICANTS Lubricant Blending & Packaging Specialty lubricant product blending and packagingT EX assets T GOES HERE S U B T EAR located within MMLPs Smackover Refinery in…
  24. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 24
    MARTIN MIDSTREAM PARTNERS L.P. SULFUR SERVICES OVERVIEW Molten sulfur, a refinery by-product, is aggregated, stored, prilled and transported through MMLPs integrated value chain systems MMLP manufactures and markets sulfur-based…
  25. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 25
    MARTIN MIDSTREAM PARTNERS L.P. SULFUR SERVICES I N T E G R AT E D VA L U E C H A I N Provides transportation, processing and marketing services necessary to move product from producer to consumer Intermodal transportation offers…
  26. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 26
    MARTIN MIDSTREAM PARTNERS L.P. SULFUR SERVICES FERTILIZER Fertilizer Overview Supply/Demand MMLP manufactures and markets sulfur-based fertilizers The single largest factor influencing fertilizer demand in the TEXT GOES HERE and…
  27. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 27
    MARTIN MIDSTREAM PARTNERS L.P. SULFUR SERVICES M O LT E N S U L F U R Assets Capacity Products Handling and Transportation Agreement Offshore Tank Barge 10,450 Long Tons Molten Sulfur MMLP handles molten sulfur and fulfills customer…
  28. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 28
    MARTIN MIDSTREAM PARTNERS L.P. SULFUR SERVICES PRILLED SULFUR Prilling Agreements Terminal Location Production Products Stored Capacity Refiners pay MMLP minimum reservation fees, plus T E X T G O Neches E S H EBeaumont, R E TX…
  29. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 29
    MARTIN MIDSTREAM PARTNERS L.P. M A R I N E T R A N S P O R TAT I O N O V E R V I E W MMLP utilizes a fleet of inland and offshore tows to provide marine transportation of petroleum products and by-products MMLPs marine transportation…
  30. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 30
    MARTIN MIDSTREAM PARTNERS L.P. MARINE TRANSPORTATION ASSETS Marine Transportation Profitability Drivers 35 inland marine tank barges Supply of available marine equipment TEXT GOES HERE 19 inland push-boats SUBTEXT IS P L A Refinery C…
  31. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 31
    R E C E N T G R O W T H I N I T I AT I V E S
  32. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 32
    MARTIN MIDSTREAM PARTNERS L.P. D E L AWA R E G R O W T H O P P O R T U N I T Y WTLPG to Expand in the Delaware Basin Project Scope West Texas Pipeline Expansion: TEXT GOES HERE Connect WTLPG to two planned 200 MMcfd processing S U B…
  33. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 33
    MARTIN MIDSTREAM PARTNERS L.P. W T L P G E X PA N S I O N P R O J E C T TEXT GOES HERE SUBTEXT IS PLACED HERE Source: Oneok, Inc. 36
  34. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 34
    MARTIN MIDSTREAM PARTNERS L.P. H O N D O A S P H A LT T E R M I N A L D R O P - D O W N 36.0 million purchase price 5.0 million annual EBITDA supported by minimum throughput commitments (7.2x purchase multiple) TEXT GOES HERE…
  35. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 35
    MARTIN MIDSTREAM PARTNERS L.P. H O N D O A S P H A LT T E R M I N A L D R O P - D O W N TEXT GOES HERE SUBTEXT IS PLACED HERE 38
  36. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 36
    F I N A N C I A L F O U N D AT I O N
  37. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 37
    MARTIN MIDSTREAM PARTNERS L.P. C A P I TA L I Z AT I O N 12/31/2016 9/30/2017 DEBT TEXT GOES HERE Revolving Credit FacilitySDue U 2020 BT EXT IS P LACED 443.0 H E463.0 RE Senior Secured Debt 443.0 463.0 Senior Notes Due…
  38. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 38
    A P P E N D I X : PA R T N E R S H I P G U I DA N C E A N D G A A P R E C O N C I L I AT I O N S
  39. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 39
    millions MMLP 3Q 2017 ADJUSTED EBITDA COMPARISON TO GUIDANCE Natural Gas Terminalling Sulfur Marine Interest 3Q17 SG&A Services & Storage Services Transportation Expense Actual Net income (loss) 7.3 (6.4) 0.6 (0.7) (4.5) (12.6)…
  40. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 40
    millions MMLP FULL YEAR 2017E ADJUSTED EBITDA GUIDANCE Natural Gas Terminalling Sulfur Marine Interest SG&A 2017E Services & Storage(1) Services Transportation Expense Net income (loss) 47.5 9.8 21.5 (1.2) (17.1) (45.6) 14.9…
  41. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 41
    millions MMLP 9 MONTHS ENDED 2017 ADJUSTED EBITDA Natural Gas Terminalling Marine Interest Sulfur Services SG&A 9M 2017 Services & Storage Transportation Expense Net income (loss) 29.8 (3.2) 19.2 0.0 (12.8) (34.7) (1.7) Interest…
  42. RBC Capital Markets Midstream Conference November 2017 – Martin Midstream Partners Lp – slide 42
    2017 MARTIN MIDSTREAM PARTNERS SUBTEXT IS PLACED HERE

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