2021 UBS Winter Infrastructure & Energy Virtual Conference January 12-13, 2021 North Beach Corpus Christi, TX 1
Introduction South Texas Crude System 3
After a Year Full of Challenges, NuStar is Well-positioned for 2021 Strong Coverage Lower Leverage Common Unit Price(1): 15.16 Distribution/CU/Year: 1.60 Yield(1): 10.6% Market Cap : (1) 2 billion Credit Ratings: Simplified…
Last Year, Faced With Unprecedented Challenges, We Took Decisive Action and Remained Focused on Our Priorities 5
And This Past Quarter, We Again Delivered Solid and Stable Financial Results Operating Income 3Q 3Q 2019 2020 Adjusted EBITDA (Continuing Operations) 1 - Please see Appendix for reconciliations of non-GAAP financial…
Along With Strong Operational Performance Across Our Footprint Our pipeline systems have rebounded strongly, and several of our terminals will continue to benefit from spring contango in 2021 PIPELINE SEGMENT West Coast- 100%…
Thanks to Our Employees Perseverance and Hard Work, We Expect Solid Full-Year 2020 Results 2020 Actions 2020 Maintained Reliable Operations & Industry-leading Health & Safety Guidance Record Reduced 2020 Strategic Capital…
And We Expect to Continue to Demonstrate Financial Strength and Stability in 2021 Expect to Generate 2021 EBITDA Comparable to 2020 Adjusted EBITDA 2021 Expectations & Expect to Fund All NuStars 2021 Spending From Our…
In 2021, We Plan to Release Our First Sustainability Report to Tout the Critical Importance of the Services We Provide and NuStars Proud Tradition of ESG Excellence 10
Pipelines Provide the Most Efficient and Safest Way to Transport the Energy That Powers Our Everyday Life Transporting the Volume Pipelines are the Safest Mode of NuStar Moves in ONE DAY Would Require: Energy Transportation: 11,000…
For 20 Years, NuStar has Been Protecting Our Employees, the Environment and Our Communities Because We Truly Believe Thats the Right Thing to Do Our safety statistics reflect our commitment to safe, responsible operations In 2019,…
Our Report Will Reflect More of the Statistics, Record and Rankings That Demonstrate How Much NuStar Cares, Contributes and Shares NuStar has been recognized for its strong corporate culture with numerous awards NuStar has been…
In 2020, Although Many of Our Employees Worked Remotely, We are Proud of the Strength of Our Support of Each Other and Our Communities Ranked 100% of our U.S. employees contribute to our United Way 62 campaign, and our average per…
And Demonstrate Further That NuStars Governance is Aligned With Our Unitholders Interests No IDRs Annual Unitholder Meetings NS Board of Directors 100% Attendance for 2020 Board & Committee Meetings 78% Independent Directors…
We Are Focused on Our Strategic Priorities for 2021 Working to Fund Continuing to Promoting Spending Take Steps to NuStars From Internally Improve Our ESG Generated Debt Metrics Excellence Cash Flows 16
We Remain Confident That Product Demand Rebound is the First Step on the Road Back to Shale Production Growth in 2021-2022 U.S. Shale Production Growth Higher 2021-22 Crude Prices Crude Demand Recovery Increased 2020…
Overall U.S. Gasoline and Diesel Demand is Expected to Recover to 95% of Pre-COVID Levels in 1Q 2021 In the second quarter of 2020, U.S. refined products demand U.S. Refined Product Demand dropped by 21% (as a % of Pre-COVID…
Refined Products Demand Continues to Demonstrate Remarkable Resilience in the Markets Our Assets Serve 100% 90% 85% 80% 105% 100% 80% 65% 65% 2020 EBITDA guidance range assumes 85% recovery Slight decrease from October…
U.S. Refinery Utilization Continues to Recover, Led by Refiners in PADD 2 and PADD 3, Which NuStars Pipeline Systems Serve U.S. Refinery Utilization Nearly all of NuStars pipeline (by PADD, 2019-2021) assets are located in in PADD 2…
The Permian Basin- the Worlds Largest, Most Resilient Shale Play- is Expected to Resume Growth in 2022, and Our System has Already Rebounded Ahead of the Rest of the Permian Basin Because of its superior geology and breakeven costs,…
Our Trimmed-Down Strategic Spending Program for 2020 and 2021 Focuses on Low-multiple Projects to Enhance Our Existing Footprint We expect to finish 2020 having spent at least 63% less on capital projects than we did in 2019 We…
WEST COAST RENEWABLE FUELS STORAGE Aggressive West Coast Carbon Emissions Reduction Goals Continue to Generate Growing Demand and Dislocations That Require Midstream Solutions Regulatory priorities on the West Coast are…
WEST COAST RENEWABLE FUELS STORAGE NuStar has Partnered With Key Customers to Develop Renewable Fuels Storage Projects at Several of Our West Coast Facilities We have established ourselves as an early mover in the renewable fuels…
WEST COAST RENEWABLE FUELS STORAGE We Handle and Store a Significant Proportion of the Total Low- Carbon Fuels Volumes Utilized in California, the Largest Driving State in the Nation NuStars Proportionate Share of Californias…
PERMIAN CRUDE PIPELINE SYSTEM With the Backbone of Our Now-700K-BPD System Complete, Our Permian Spending Will be Focused on Scaling With Our Producers Gathering Needs May 2017 Current Dedicated Acres 500,000 Scurry Borden AMI…
PERMIAN CRUDE PIPELINE SYSTEM Our Core of the Core Location has Attracted Top-Tier Customers With Large DUC Inventories to Support Continued Recovery in 2021 The quality of geological formations underlying our system attracts the…
GULF COAST STORAGE & EXPORT Gulf Coast Exports Held Up Well Through 3Q, and the Port of Corpus Christi Remains the Leading U.S. Crude Export Hub A significant proportion of the volumes transported on the additional 2.1MMBPD of new…
GULF COAST STORAGE & EXPORT We Continue to Export Permian Long-haul and Eagle Ford Barrels From Our Corpus Christi North Beach Terminal 100 Series 1.0MMbbl . 400 Series 1.7MMbbl 200 Series +0.4MMbbl Remaining Footprint…
GULF COAST STORAGE & EXPORT Our St. James Facility Benefits From Price Dislocations From Pipeline Constraints and Will Benefit From Export Growth as Those Constraints are Resolved Prior to March 2020, the lack of long-haul…
N . M E X I C O R E F I N E D P R O D U C T S S U P P LY We Have Completed Two Projects to Help Remedy Mexicos Supply Shortfall In 2020, we fully completed service on two projects that address the supply imbalance in Northern…
The Balance of Our Business and the Location of Our Assets Contribute to the Resilience of Our Results Pipeline and Refined Products Storage and Crude Segment Revenues Revenues (% 3Q 2020 (% 3Q 2020 Revenues) Revenues) 59%…
We Acquired Our Permian Crude System Because It Sits Squarely Over the Midland Basins Most Geologically Advantaged Acreage MOST ACCESSIBLE, BEST RECOVERIES AND STACKED FORMATIONS SUPERIOR GORs Fairway Outlines MBOE NuStar Pipeline…
Debt Maturity Schedule NuStar Expects to Have Adequate Liquidity to Accommodate Our 2021 and 2022 Bond Maturities In March 2020, we renewed our revolver through October of 2023 In April 2020, we entered into a three-year, 750 million…
Capital Structure as of September 30, 2020 ( in Millions) 1.0B Credit Facility 0 Common Equity and AOCI 536 NuStar Logistics Notes (4.75%) 250 Series A, B and C Preferred Units 756 NuStar Logistics Notes (5.625%) 550 Series D…
Reconciliation of Non-GAAP Financial Information 38
Reconciliation of Non-GAAP Financial Information (continued) 39
Reconciliation of Non-GAAP Financial Information (continued) 40
Loading...
