Holly Energy Partners Consistent Distribution Growth Despite Crude Price A system of petroleum product and crude Volatility 0.80 160 pipelines, storage tanks, distribution DPU* terminals, loading racks and processing WTI units located…
HollyFrontier and Holly Energy Partners Footprint Holly Energy Partners (NYSE: HEP) 4
HollyFrontier Business Segment Highlights REFINING MIDSTREAM SPECIALTY LUBRICANTS Inland merchant refiner Operate Crude and Product Pipelines, Integrated specialty lubricants loading racks, terminals and tanks in and producer 5…
HEP Ownership Structure IDR Simplification Provides Lower Cost of Capital for HEP HOLLYFRONTIER 100% CORPORATION (HFC) Interest GENERAL PARTNER (GP) HOLLY LOGISTIC PUBLIC SERVICES, L.L.C Non-economic GP Interest 59.6mm…
Limited Partner Distributions Since Inception Distribution has been increased every quarter since IPO 52 consecutive quarters LP Distribution (/Unit)1 3.00 2.58 2.50 2.36 2.20 2.08 1.96 2.00 1.84 1.74 1.66 1.58 1.50 1.50…
HEP Growth Since Inception Revenue, 16% CAGR* EBITDA, 17% CAGR* DCF, 16% CAGR* 402 279 219 80 50 41 2005 2016 2005 2016 2005 2016 *See page 17 for definitions Holly Energy Partners (NYSE: HEP) 8
HEP Historical Growth Committed to Continuing Successful Track Record of Growth 50% JV with Holly Corporation Plains for Acquired remaining Holly Tulsa and Frontier Oil Crude gathering interests in SLC / Holly intermediate Frontier…
HEP Avenues for Growth ORGANIC ACQUISITIONS DROPDOWNS FROM HFC Leverage HEPs existing Pursue logistics assets in HEPs current Partnering with HFC to build footprint, specifically in geographic region and/or acquire new assets /…
Organic Growth Crude system expansion benefits both HEP and HFC HEP owns and operates over 800 miles of crude gathering pipelines in the Permian Basin Crude Gathering Volume Trend (BPD)* 130,000 120,000 110,000 Barrels Per…
Acquisition of Interests in Frontier and SLC Pipelines Asset Description Acquired remaining 50% interest in Frontier pipeline, and remaining 75% interest in SLC pipeline in October 2017 Frontier: 289-mile, 72,000 BPD capacity crude…
Dropdowns From HFC Dropdown Approach HEP positioned to benefit through HFC partnership: Growth capital projects Potential HFC M&A Target new HFC growth capital projects: High tax basis Durable cash flow streams Woods Cross…
HEP Capital Budget 2018 Estimated Capex 40-50mm Reimbursable Highlighted Expansion 5-6mm Projects SLC & Frontier Pipelines Malaga Gathering System Maintenance Expansion 7-10mm 30-40mm Holly Energy Partners (NYSE: HEP) 14
HEP Financial Strength HEP Capital Structure ( millions) 9/30/2017 Capital Markets Activity in 2017 Revolver Capacity 1,400 Upsized Revolver from 1.2 billion to 1.4 billion Revolver Borrowings (750) Revolver Availability 650 Redeemed…
Appendix-HEP Assets Holly Energy Partners owns and operates substantially all of the refined product pipeline and terminaling assets that support HollyFrontiers refining and marketing operations in the Mid-Continent, Southwest and Rocky…
Definitions BPD: Barrels per day CAGR: The compound annual growth rate is calculated by dividing the ending value by Forecasted EBITDA for SLC and Frontier: Forecasted EBITDA is based on Holly the beginning value, raise the result to…
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