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December 2018 Investor Presentation – Blueknight Energy Partners, L.P.

Blueknight Energy Partners, L.P. · Dec 5, 2018 · 34 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. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 1
    DECEMBER 2018 Investor Presentation The smart move for terminalling and transportation (NASDAQ: BKEP & BKEPP) Private and Confidential
  2. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 2
    Who We Are Established in 2007; headquartered in Oklahoma City, OK General Partner owned by an affiliate of Ergon, Inc., since October 2016 Diversified, strategically located assets in 27 states make us a leading provider of…
  3. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 3
    Diversified Operations Asphalt Terminalling Services Crude Oil Terminalling and Transportation Liquid Asphalt Storage, Services Processing & Blending Crude Oil Storage, Processing & Blending Crude Oil Pipeline Transportation Crude…
  4. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 4
    Our Sponsor Private, family-owned company Formed in 1954; based in Jackson, MS Presence in 12 countries worldwide; employs over 2,500 workers globally One of the largest marketers of asphalt products in the U.S. BKEP customer…
  5. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 5
    Ergon Overview (NASDAQ: BKEP & BKEPP) Private and Confidential 6
  6. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 6
    Recent Developments (NASDAQ: BKEP & BKEPP) Private and Confidential 7
  7. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 7
    Recent Developments Announced joint venture development of a new pipeline servicing Oklahomas STACK production area, the Cimarron Express Joint venture will be initially owned 50/50 by Kingfisher Midstream (subsidiary of Alta Mesa…
  8. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 8
    Business Description (NASDAQ: BKEP & BKEPP) Private and Confidential 9
  9. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 9
    Asphalt Terminalling Services Largest independently owned Multiple loading/unloading options: asphalt terminal network o Truck 8.8 million barrels of asphalt o Marine and residual fuel oil storage o Rail 53 terminals across 26…
  10. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 10
    Asphalt Terminalling Services Characteristics of Contracts Base fee/month plus incremental revenue if Rate Structure customer exceeds minimum take-or-pay volumes Term 510 years Annual CPI adjustment Yes Customer/Facility…
  11. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 11
    State Highway and Infrastructure Funding Trends States that have Successfully Raised Revenue Since 2012 Source: Transportation for America http://t4america.org/maps-tools/state-transportation-funding/ (NASDAQ: BKEP & BKEPP)…
  12. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 12
    U.S. Asphalt Storage and Supply Trends Source: U.S. Energy Information Administration (NASDAQ: BKEP & BKEPP) Private and Confidential 13
  13. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 13
    Crude Oil Terminalling, Crude Oil Terminalling Pipeline and Services Transportation Services 6.6 million barrels of storage at Cushing Interchange Crude Oil Pipeline Comprised of three segments: Services Total Length: 655 miles 1…
  14. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 14
    Crude Oil Terminalling Services Cushing Interchange 34 tanks with 6.6 million barrels of storage Connectivity and access to all Cushing terminals Capable of receiving and/or delivering 350,000 bpd Excellent blending…
  15. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 15
    Crude Oil Terminalling Services Cushing Inventory Build (NASDAQ: BKEP & BKEPP) Private and Confidential 16
  16. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 16
    Crude Oil Terminalling Services Cushing Inventory Build (NASDAQ: BKEP & BKEPP) Private and Confidential 17
  17. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 17
    Oklahoma Crude Oil Pipelines Oklahoma Pipelines Long-term minimum take- or-pay contract with XTO Capable of transporting approximately 50,000 bpd Service restored to light crude pipeline on July 1, 2018; expect increased…
  18. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 18
    Cimarron Express Pipeline On May 10, 2018, Kingfisher Midstream, together with Ergon and BKEP, announced the formation of a joint venture, Cimarron Express Pipeline, LLC (Cimarron Express) Joint venture will be initially owned…
  19. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 19
    Alta Mesa Resources Overview (NASDAQ: BKEP & BKEPP) Private and Confidential 20
  20. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 20
    SCOOP/STACK Relative Economics (NASDAQ: BKEP & BKEPP) Private and Confidential 21
  21. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 21
    Future Oklahoma Crude Pipeline Footprint Cimarron Express Pipeline Plus Existing BKEP Oklahoma Pipelines Over 700 miles of pipelines serving the SCOOP, STACK, Merge and southern Oklahoma Approximately 200,000 - 250,000 BPD of…
  22. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 22
    SCOOP/STACK Production Forecast (NASDAQ: BKEP & BKEPP) Private and Confidential 23
  23. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 23
    SCOOP/STACK Takeaway Capabilities (NASDAQ: BKEP & BKEPP) Private and Confidential 24
  24. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 24
    Crude Oil Trucking Services Crude oil trucking operations extend our ability to gather and aggregate crude oil on our systems and deliver product for third parties to their facilities Approximately 65 tanker trucks serving…
  25. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 25
    Strategy & Growth Opportunities (NASDAQ: BKEP & BKEPP) Private and Confidential 26
  26. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 26
    Strategy and Growth Opportunities Recent activity focused on strengthening our core businesses Completed approximately 181.5 million of acquisitions since May 2015 Acquisitions Divestitures May 2015 January 2017 Asphalt product…
  27. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 27
    Strategy and Growth Opportunities Blueknights strategy is to grow two core businesses while maintaining a strong balance sheet Asphalt Terminalling Services Crude Oil Terminalling and Increased asphalt operating margin…
  28. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 28
    Financial Overview (NASDAQ: BKEP & BKEPP) Private and Confidential 29
  29. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 29
    Consistent Cash Flow Generation How our highly-contracted, fee-based business drives high-growth potential Over 79.3% of operating margin, excluding depreciation and amortization, is contracted Asphalt terminalling services segment…
  30. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 30
    Consistent Financial Performance Consolidated Operating Margin Adjusted EBITDA (excluding depreciation and amortization) 120% ( in millions) 80.0 70.1 100% 70.1 69.8 20% 32% 70.0 80% 37% 60.0 60% 50.0 40% 80% 63% 68% 40.0…
  31. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 31
    Financial Targets Target Leverage Decrease leverage to under 4.0x by December 31, 2019 Target 3.5x over long-term Distribution Policy Maintain greater than 1.1x distribution coverage over long- term Keep conservative approach to…
  32. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 32
    Appendix (NASDAQ: BKEP & BKEPP) Private and Confidential 33
  33. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 33
    Reconciliation of Adjusted EBITDA and Distributable Cash Flow to Net Income (NASDAQ: BKEP & BKEPP) Private and Confidential 34
  34. December 2018 Investor Presentation – Blueknight Energy Partners, L.P. – slide 34
    Operating Margin and Reconciliation to Operating Income (NASDAQ: BKEP & BKEPP) Private and Confidential 35

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