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August 2018 Citi MLP Conference – Nustar Energy L.P.

Nustar Energy L.P. · Aug 16, 2018 · 31 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. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 1
    2018 CITI One-on-One MLP/Midstream Infrastructure Conference AUGUST 15 16, 2018
  2. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 2
    Overview
  3. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 3
    With Our Simplification Complete, We Have Achieved the Five Characteristics Critical to MLP Success as Markets Recover Minimal Capital Needs Simplified Structure/ Lower Leverage Transparent Governance Strong, Strong…
  4. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 4
    Our Newly Simplified Structure: One Public Company, No IDRs NYSE: NS IPO Date: 4/16/2001 Common Unit Price (8/10/18): 28.64 Annualized Distribution/Common Unit: 2.40 Yield (8/10/18): 8.4% Market Capitalization: 3.1…
  5. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 5
    NuStar Has a Broad, Diverse Portfolio of Assets Current Profile Volumes Handled(1): 1.4MM BPD pipeline volumes 330M BPD storage throughput terminal volumes Total Pipeline Miles: 9,700 Total Storage Capacity:97MM bbls Total…
  6. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 6
    NuStars Assets are Well-Balanced and Have Performed Consistently, Through Market Challenges 2017 EBITDA1, By Segment Historical Pipeline and Storage Segment EBITDA1 ( in millions) 707 690 671 610 Oil Price Crash 554 Great…
  7. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 7
    We Are Well-Positioned to Build on Our Foundational Strengths Expected 2018 Debt/EBITDA1 of about 4.7x Simplified Structure & No IDRs Lower Leverage & Strong Coverage + Expected 2018 distribution coverage1 in the range of…
  8. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 8
    Permian Crude System Growth Platform
  9. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 9
    The Permian Phenomenon A massive oil basin of epic proportions A pool of more recoverable oil than any field in the world except for Saudi Arabias Ghawar 250 miles wide, 300 miles long (75,000 square miles) The Wolfcamp Formation,…
  10. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 10
    Advances in Drilling Activity and Technology Are Driving the Basins Unparalleled Growth Permian Basin rig count, now 485, Midland Basin Production 3.31 has grown from 342 or 42%, since (MMBOE/D) we acquired our system last May1…
  11. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 11
    Producers Remain Bullish on Permian Growth, Strength & Resiliency August 2, 2018 Second Quarter 2018 Conference Call August 9, 2018 Second Quarter 2018 Conference Call With nearly half the drilling rigs and completion crews in the…
  12. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 12
    Our Permian Crude System Continues to Prove Itself Core of the Core Our system throughput is now 300,000 BPD, up 140% since the System is located in 5 of the 6 most active counties in the acquisition prolific Midland Basin Permian…
  13. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 13
    Our Permian Systems Receipts and EBITDA Are Growing Rapidly 20 266 300 18 250 16 211 187 14 159 200 12 10 139 150 19 8 14 100 6 12 12 4 7 50 2 0 0 2Q 2017 3Q 2017 4Q 2017 1Q 2018 2Q 2018 1 EBITDA (MM) System…
  14. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 14
    We are Focused on Three Key Objectives to Continue to Realize Our Systems Growth Potential Working to match producers with downstream markets with firm space Providing Identifying new shippers and marketers with downstream pipeline…
  15. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 15
    Growth Projects Outside the Permian
  16. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 16
    Outside the Permian, We Have Developed Projects to Utilize Our Existing Assets to Enhance Unitholder Value Northern Mexico St. James Terminal Refined Product Unit Train Assets Supply West Coast South Texas Crude System &…
  17. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 17
    We Have Executed Contracts to Support Northern Mexico Supply Projects Nuevo Laredo Project - Valero Energy has recently announced their plans related to our projects to supply refined products to Nuevo Laredo via our Odem and Laredo…
  18. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 18
    We Have Executed Contracts to Support Northern Mexico Supply Projects (continued) These long-term throughput & deficiency contracts will support a series of healthy-return capital projects to: Connect to pipelines and third-party…
  19. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 19
    The Council Bluffs System That We Acquired in April is Performing Well as We Complete Our Integration In April, we closed on an immediately accretive 38 million acquisition of CHS Council Bluffs system, consisting of a 227-mile…
  20. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 20
    We have Recently Renewed T&D Commitments in South Texas Beginning next month, we will have T&D contracts for 116,000 BPD Renewed commitments totaling 50,000 BPD with existing customers Maintaining throughput by offering…
  21. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 21
    Other Opportunities Across our Footprint St. James Terminal Executed new contract for unit train off-loading due to widening differentials out of the Permian (expect 3-10 trains per month) Likely to be among the first of our…
  22. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 22
    Finance Update
  23. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 23
    We Project 2018 Strategic Capital Spending Needs In the Range of 360 to 390 Million 2,000 1,789 1,500 Majority of 2018 spending relates to: Permian Crude Permian Crude System (190) System 1,000 1,462 Northern Mexico…
  24. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 24
    Debt Maturity Schedule (as of June 30, 2018) We have no significant maturities until 2020 1,750 Receivables Financing 1,524 Sub Notes 1,500 56 GO Zone Financing 1,250 450 Senior Unsecured Notes Revolver 1,000 750 500…
  25. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 25
    Capital Structure as of June 30, 2018 ( in Millions) 1.75 billion Credit Facility 1,018 NuStar Logistics Notes (4.75%) 250 Series D Preferred Units Mezzanine2 371 NuStar Logistics Notes (4.80%) 450 NuStar Logistics Notes (5.625%)…
  26. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 26
    Appendix
  27. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 27
    Reconciliation of Non-GAAP Financial Information NuStar Energy L.P. utilizes financial measures, such as earnings before interest, taxes, depreciation and amortization (EBITDA), distributable cash flow (DCF) and distribution coverage…
  28. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 28
    Reconciliation of Non-GAAP Financial Information (continued) 29
  29. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 29
    Reconciliation of Non-GAAP Financial Information (continued) Projected for the Year Ended December 31, 2018 30
  30. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 30
    Reconciliation of Non-GAAP Financial Information (continued) 31
  31. August 2018 Citi MLP Conference – Nustar Energy L.P. – slide 31
    Reconciliation of Non-GAAP Financial Information (continued) 32

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