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MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp

Martin Midstream Partners Lp · May 23, 2018 · 36 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. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 1
    2018 MLPA MLP & ENERGY INFRASTRUCTURE CONFERENCE May 23 www.martinmidstream.com
  2. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 2
    MARTIN MIDSTREAM PARTNERS L.P. overview
  3. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 3
    MARTIN MIDSTREAM PARTNERS L.P. Partnership Overview NASDAQ Listed: MMLP Formed October 31, 2002 MMLP is a publicly traded, diversified master limited partnership with operations including: Natural Gas Services Terminalling &…
  4. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 4
    MARTIN MIDSTREAM PARTNERS L.P. 2018E Guidance by Segment UPDATE Natural Gas Services Terminalling & Storage 69.7 58.8 millions Sulfur Services Marine Transportation 34.5 156.1 million Adjusted 8.5 EBITDA (171.5 million…
  5. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 5
    MARTIN MIDSTREAM PARTNERS L.P. Strong Fee-Based Contract Mix Natural Gas Services Fee-based, multi-year natural gas storage contracts (weighted average * life approximately 3.0 years as of December 31, 2017) Fee-based, regulated…
  6. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 6
    MARTIN MIDSTREAM PARTNERS L.P. Natural Gas Services Overview Cardinal Gas Storage operates approximately 50 billion cubic feet of natural gas storage capacity across four facilities throughout northern Louisiana and Mississippi. MMLP…
  7. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 7
    MARTIN MIDSTREAM PARTNERS L.P. natural gas services Cardinal Gas Storage Firm Contracted/Fee-Based Storage Model Cardinal Contract Summary Working Gas Currently Firm contracted model (90%) for natural gas Type Capacity (bcf)…
  8. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 8
    MARTIN MIDSTREAM PARTNERS L.P. natural gas storage Cardinal Gas Storage Asset Overview Monroe Gas Storage Site Arcadia Gas Storage Salt dome facility (Arcadia, Louisiana) 16.0 bcf Cadeville Gas Storage Depleted reservoir…
  9. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 9
    MARTIN MIDSTREAM PARTNERS L.P. natural gas services Butane Optimization Butane Optimization Butane Adjusted EBITDA Refineries adjust the vapor pressure of gasoline 28.1 26.1 to meet seasonal EPA standards and blend 23.5 19.9 butane…
  10. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 10
    MARTIN MIDSTREAM PARTNERS L.P. natural gas services West Texas LPG Pipeline (WTLPG) The WTLPG system is approximately 2,300 miles of Y-grade pipeline from Eastern New Mexico to Mt. Belvieu, Texas. MMLP owns a 20% non-operating interest…
  11. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 11
    MARTIN MIDSTREAM PARTNERS L.P. natural gas services NGLs & Propane NGLs Propane Assets include 200-mile East Texas Pipeline Wholesale propane distribution to approximately transporting Y-grade from Kilgore to Beaumont, 100 regional…
  12. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 12
    MARTIN MIDSTREAM PARTNERS L.P. Terminalling & Storage Overview MMLP operates 38 terminal facilities with an aggregate storage capacity of 2.9 million barrels. These facilities provide storage, refining, blending, packaging and handling…
  13. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 13
    MARTIN MIDSTREAM PARTNERS L.P. Terminalling & Storage Marine Shore-Based Terminals Gulf Coast Fuel and Lubricant Distribution Network 22 terminals along the Gulf Coast from Theodore, Fee-based contract structure provides stable cash…
  14. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 14
    MARTIN MIDSTREAM PARTNERS L.P. terminalling & storage Martin Lubricants Lubricant Blending & Packaging Specialty lubricant product blending and packaging assets located within MMLPs Smackover Refinery in Smackover, Arkansas include:…
  15. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 15
    MARTIN MIDSTREAM PARTNERS L.P. terminalling & storage Smackover Refinery Specialized Naphthenic Refinery 7,700 bpd capacity naphthenic lube refinery located Fee-based contract structure provides stable cash flow. in Smackover,…
  16. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 16
    MARTIN MIDSTREAM PARTNERS L.P. terminalling & storage Specialty Terminals Specialty Terminals Overview Network of 14 terminals which facilitate the movement of petroleum products and by-products and petrochemicals from oil refiners…
  17. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 17
    MARTIN MIDSTREAM PARTNERS L.P. terminalling & Storage Specialty Terminals Expertise In Hard to Handle Product and By-Product Logistics Specialized Sites Specialized Sites (continued) Hondo Asphalt Terminal South Houston and Omaha…
  18. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 18
    MARTIN MIDSTREAM PARTNERS L.P. terminalling & Storage Specialty Terminals Expertise In Hard to Handle Product and By-Product Logistics Specialized Sites (continued) Beaumont Neches Multi-service terminal Sulfur offtake and gathering…
  19. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 19
    MARTIN MIDSTREAM PARTNERS L.P. Sulfur Services Overview Molten sulfur, a refinery by-product is aggregated, stored and prilled through MMLPs integrated value chain systems along the U.S. Gulf Coast and Northern California region. MMLP…
  20. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 20
    MARTIN MIDSTREAM PARTNERS L.P. sulfur services Integrated Sulfur Value Chain Provides transportation, processing and marketing services necessary to move product from producer to consumer Intermodal transportation offers multiple fee…
  21. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 21
    MARTIN MIDSTREAM PARTNERS L.P. sulfur services Fertilizer Fertilizer Overview Supply/Demand MMLP manufactures and markets sulfur-based The single largest factor influencing fertilizer demand fertilizers and related sulfur products for…
  22. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 22
    MARTIN MIDSTREAM PARTNERS L.P. sulfur services Molten Sulfur Handling and Transportation Agreement MMLP transports molten sulfur from U.S. Gulf Coast refineries to the Tampa market for fertilizer production. Supply Demand Sulfur…
  23. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 23
    MARTIN MIDSTREAM PARTNERS L.P. sulfur services Prilled Sulfur Prilling Agreements Terminal Location Production Products Stored Capacity Refiners pay MMLP minimum reservation fees, plus Neches Beaumont, 5,500 metric Molten, prilled &…
  24. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 24
    MARTIN MIDSTREAM PARTNERS L.P. Marine Transportation Overview MMLP utilizes inland and offshore tows to provide marine transportation of petroleum products and by-products. MMLPs marine transportation business operates coastwise along…
  25. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 25
    MARTIN MIDSTREAM PARTNERS L.P. marine transportation Assets Marine Transportation 33 inland marine tank barges 18 inland push-boats 1 offshore tug and barge unit Ability to handle specialty products (asphalt, fuel oil, gasoline,…
  26. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 26
    MARTIN MIDSTREAM PARTNERS L.P. marine transportation Inland & Offshore Current Environment Weak day-rates continue even as utilization has improved Contract tenor trending toward short term and spot market Asset rationalization…
  27. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 27
    MARTIN MIDSTREAM PARTNERS L.P. APPENDIX
  28. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 28
    MARTIN MIDSTREAM PARTNERS L.P. millions Capitalization 12/31/2017 3/31/2018 DEBT Revolving Credit Facility Due March 2020 445.0 428.0 Senior Secured Debt 445.0 428.0 Senior Notes Due February 2021 373.8 373.8 Total Debt 818.8…
  29. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 29
    MARTIN MIDSTREAM PARTNERS L.P. Fee-based Cash Flow Reconciliation for 2018 1Q18E 2Q18E 3Q18E 4Q18E 2018E Natural Gas Services Cardinal 9.7 8.6 6.4 6.3 31.0 Fixed Fee Butane 9.1 1.3 1.5 14.2 26.1 Margin WTLPG 1.5 1.6 2.5 2.9 8.5…
  30. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 30
    MARTIN MIDSTREAM PARTNERS L.P. 2018E Total Capital Expenditures Reconciliation Distribution Coverage Ratio 1.18 x 0.97 x 1.00 x 0.96 x 1.00 x 2014 2015 2016 2017 2018E Total Capital Expenditures Expansion CapEx Plant…
  31. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 31
    MARTIN MIDSTREAM PARTNERS L.P. 2018E Adjusted EBITDA Guidance Reconciliation Natural Gas Terminalling Sulfur Marine Interest SG&A 2018E Services & Storage Services Transportation Expense Net income (loss) 42.5 22.4 23.0 1.4 (16.0)…
  32. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 32
    MARTIN MIDSTREAM PARTNERS L.P. 2017 Adjusted EBITDA and GAAP Reconciliation Natural Gas Terminalling Sulfur Marine Interest 2017 SG&A Services & Storage Services Transportation Expense Actual Net income (loss) 53.5 3.3 25.9 (1.2)…
  33. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 33
    MARTIN MIDSTREAM PARTNERS L.P. 2016 Adjusted EBITDA and GAAP Reconciliation Natural Gas Terminalling Sulfur Marine Interest 2016 SG&A Services & Storage Services Transportation Expense Actual Net income (loss) 43.1 44.1 26.8 (19.8)…
  34. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 34
    MARTIN MIDSTREAM PARTNERS L.P. 2015 Adjusted EBITDA and GAAP Reconciliation Natural Gas Terminalling Sulfur Marine Interest 2015 SG&A Services & Storage Services Transportation Expense Actual Income (loss) from continuing operations…
  35. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 35
    MARTIN MIDSTREAM PARTNERS L.P. 2014 Adjusted EBITDA and GAAP Reconciliation Natural Gas Terminalling Sulfur Marine Interest 2014 SG&A Services & Storage Services Transportation Expense Actual Income (loss) from continuing operations…
  36. MLP and Energy Infrastructure Conference – Martin Midstream Partners Lp – slide 36
    4200 B STONE ROAD KILGORE, TEXAS 75662 877-256-6644 WWW.MARTINMIDSTREAM.COM IRMARTINMLP.COM

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