Investor Presentation South Texas Infrastructure Acquisition September 2, 2014
SOUTH TEXAS INFRASTRUCTURE ACQUISITION OVERVIEW Transaction Overview Financial Benefits o Buckeye has entered into a definitive agreement to acquire o 100% fee-based take-or-pay cash flows 80% of the interests of a newly formed…
STRATEGIC RATIONALE AND ASSET OVERVIEW Unique opportunity to acquire a midstream platform in the Gulf Coast with long-term committed revenues and significant opportunities for further growth Strategic Rationale Asset Overview (1) o…
OUR PARTNER TRAFIGURA About Trafigura Benefits of Partnership o Trafigura is a global leader in international commodities o Trafigura as a global trading firm has the ability to fully trading and logistics utilize a variety of products…
EAGLE FORD AND CORPUS CHRISTI MARKETS Eagle Ford Corpus Christi o One of the most economically advantaged shale plays in the o Corpus Christi is economically advantaged to handle Eagle U.S. with estimated break-even costs of 60/bbl…
ASSET OVERVIEW Buckeye Texas Hub: o Deep-water marine terminal on the Corpus Christi Ship Channel capable of handling crude, condensate, distillates, naphtha, butane and propane o Fully contracted under 7-year minimum throughput…
ASSET OVERVIEW (continued) Buckeye Texas Processing: o 2 x 25 Mbpd condensate splitter project currently under construction and expected to be in-service mid-2015 o Fully contracted under 7-year tolling and storage agreement with…
ASSET OVERVIEW (continued) Buckeye Field Services: o Fully contracted under 10-year storage and minimum volume throughput agreement with Trafigura McMullen / George West Storage Terminals o Storage at both McMullen and George West…
SYSTEM COMPLETION Significant assets are in-service today with projected 240 270 million(1) of additional capital spend to complete the expansion of the assets and system integration Existing Assets Today Additional Assets Currently…
KEY EXPORT FACILITY The integrated system of assets is a world-class multi- product export facility with built-in flexibility and optionality Condensate, Crude and LPG Exports o Five vessel berths including three deep-water docks…
POTENTIAL FUTURE GROWTH PROJECTS Current identified potential growth opportunities in excess of 500 million Unit Train Transloading o Unit train loading and off-loading capability via the development of a loop track at nearby site…
SUMMARY OF ACQUISITION BENEFITS o Fee-based take-or-pay cash flows that are 100% contracted with 7 to 10 year terms o Attractive acquisition adjusted EBITDA investment multiple of 8.5x (1) o Highly accretive to distributable cash…
NON-GAAP FINANCIAL MEASURES Adjusted EBITDA and distributable cash flow are measures not defined by GAAP. Adjusted EBITDA is the primary measure used by our senior management, including our Chief Executive Officer, to (i) evaluate our…
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