Investment Overview Overview (NYSE: DKL) Current Distribution: 0.885/LP unit qtr.; 3.54/LP unit annualized (1) Net Income of 30.5 million, Net cash from operating activities 34.2 million Distributable Cash Flow 33.7 million; DCF…
Delek US A Growth Oriented, Financially Strong Partner 302,000 bpd of refining capacity in Texas, Arkansas, Louisiana Operational Strength Access to crude / product terminals, pipeline and storage assets Financial Strength At Sept.…
Delek Logistics Partners, LP Overview
Logistics Assets Positioned to Benefit from Permian Basin Activity Growing logistics assets support crude sourcing and product marketing for customers Pipelines/Transportation Segment 805 miles (1) of crude and product…
Multi-Year Contracts with Firm Commitments / MVCs Duration of Contracts as of 3Q19 (1) Contract Highlights The Lion Pipeline System and SALA Gathering System are < 1 Year 20% 27% supported by a long-term contract that includes three…
Financial Flexibility and Growing Distributable Cash Flow Solid Net Income and EBITDA performance (1) 180.0 160.0 176.5 140.0 164.0 in millions 120.0 100.0 115.0 80.0 97.3 96.4 90.2 60.0 40.0 62.8 69.4 20.0 0.0 2016…
Increased Distribution with Conservative Coverage and Leverage Distribution per unit has been increased twenty-eight consecutive times since the IPO 0.375 0.385 0.395 0.405 0.415 0.425 0.475 0.490 0.510 0.530 0.550 0.570 0.590 0.610…
DKL Asset & Joint Venture Detail
Joint Venture Pipeline Projects Create platforms for future growth; Ability to leverage Permian position RIO Pipeline (Delaware Basin) MPLX (67%)/ Delek Logistics (33%) Cost: 119 million Capacity: 80,000 Bbl/d Length: 109…
Red River Pipeline Joint Venture DKL purchased 33% interest in May 2019; closed effective May 1 Cost: 128.0 million initial investment Financed with borrowing under the revolver Planned expansion to be completed in first half of…
Asset Overview: Paline Pipeline Provides access to Gulf Coast and ability to take advantage of crude differentials Approximately 195 mile 42 kbpd crude oil pipeline Longview, TX south to Beaumont, TX Allows shippers ability ship…
West Texas Wholesale Business Benefiting from Permian Basin crude oil drilling activity West Texas Wholesale and Marketing Gross Margin(1) Operates in an area around the Permian Basin; Complementary to Delek US refining/retail in…
Asset Overview: Lion Pipeline System and SALA Gathering Lion Pipeline System (1) Lion Pipeline System 70,000 Provides non-gathered crude oil to Delek US 60,000 El Dorado refinery and connects to Enterprise Barrels per day…
Asset Overview: Terminalling Terminal Count Terminalling Assets (1) 12 Refined products terminalling services for Delek US and/or third parties 9 Comprised of terminals located in: Memphis and Nashville, TN; 6 Big Spring…
Going Forward: Growing Midstream Assets
Delek US Growing Midstream Asset Base Big Spring Gathering System Wink to Webster JV Pipeline 200-mile gathering system, 350Kbpd throughput Wink to Webster Pipeline capacity 650-mile 36-inch diameter crude oil pipeline Currently more…
Midstream: Utilizing Free Cash Flow & Strong Balance Sheet to Fund Growth Supports goal to generate approximately 370 million to 395 million of annualized midstream adjusted EBITDA by 23 Potential Growth for DKL Strong Adjusted EBITDA…
Several Visible Pathways for Growth Focused around developing Permian platform; Growing logistics asset base at sponsor Ability to Leverage Relationship with Delek US Permian-based refining system with 207,000 bpd of Permian crude access…
Current Valuation Below Peer EV-to-EBITDA DKLs financial flexibility and growth initiatives of strong sponsor DK positions it for growth EV/EBITDA 14.0x 12.0x 10.0x 8.0x 6.0x 4.0x 2.0x 0.0x DKL HEP MPLX PBFX PSXP…
Majority of assets support Primarily traditional, stable Delek US strategically MLP assets with limited located inland refining commodity price exposure system Balance sheet positioned Inflation-indexed fees for to grow with…
Appendix
Summary of Certain Contracts (8) Termination Provision Minimum Tariff / Fee Refinery (1) (2) (10) Initial / Maximum Term Service 3Q19 YTD Throughput (bpd) Commitment (bpd) Current Tariff / Fee Index Shutdown Force Majeure Paline…
Summary of Certain Contracts Footnotes (1) Maximum term assumes an extension of the commercial agreement pursuant to the terms thereof. Please note some terms began as early as Nov. 7, 2012. (2) Represents average daily throughput for…
Third Amended and Restated Omnibus Agreement, as amended Key Provisions Delek US will indemnify Delek Logistics for certain liabilities, including environmental and other liabilities, relating to contributed assets. Delek US has a…
Summary Organizational Structure Delek US Holdings, Inc. Delek Logistics GP, LLC Public Unitholders NYSE: DK 94.6% (the General Partner) ownership interest (1) 61.4% interest Limited partner-common 2.0% interest 36.6% interest…
DKL: Reconciliation of Cash Available for Distribution (dollars in millions, except coverage) 42013 (2) 1Q14 (2) 2Q14(2) 3Q14(2) 4Q14(2) 2014 (2) 1Q15(2) 2Q15 3Q15 4Q15 2015 (2)(3) 1Q16 2Q16 3Q16 4Q16 2016 (3) Reconciliation of…
DKL: Income Statement and Non-GAAP EBITDA Reconciliation Delek Logistics Partners LP Income Statement and EBITDA Reconciliation 4 (1) (1) (1) (2) (2) Q2013 1Q14 2Q14 3Q14 4Q14 2014 1Q15 2Q15 3Q15 4Q15 2015 1Q16 2Q16 3Q16 4Q16 2016…
Non-GAAP Reconciliation of Krotz Springs Potential Dropdown EBITDA(1) Krotz Springs Logistics Drop Down Reconciliation of Forecasted Annualized Net Income to Forecast Incremental EBITDA ( in millions) Forecasted Range Forecasted…
Non-GAAP Reconciliation of Increased Paline Pipeline Tariff EBITDA(1) Reconciliation of Forecast Incremental U.S. GAAP Net Income (Loss) to Forecast Incremental EBITDA for Paline Pipeline Tariff Increase ( in millions) Annual…
Non-GAAP Reconciliation of Red River Joint Venture Adjusted EBITDA(1) Delek Logistics Partners, LPReconciliation of Forecasted Incremental U.S. GAAP Net Income (Loss) to Forecasted Incremental Adjusted EBITDA for the Red River…
Non-GAAP Reconciliations of Forecasted EBITDA Reconciliation of 2020 Forecasted Incremental Annualized Net Income to Forecasted Incremental Annualized EBITDA for the Big Springs Gathering System ( in millions) Forecasted Range…
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