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Wells Fargo Energy Conference – Holly Energy Partners L.P

Holly Energy Partners L.P · Dec 31, 2012 · 21 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. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 1
    Holly Energy Partners, L.P. Wells Fargo Energy Conference December 2012
  2. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 2
    HEP Investment Highlights Well positioned assets that serve high growth markets Revenues are 100% fee based with no commodity ownership risk Long-term contracts support cash flow stability Successful execution of growth plan has…
  3. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 3
    Well Positioned HEP & HFC Assets 4
  4. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 4
    Serving Traditionally High Growth Markets Serving Traditionally High Growth Markets NH VT Legend MA Loss RI 0-5% CT 5-15% NJ 15-25% DE 25% + MD DC Area Served by HEP PR Asset footprint in Southwest, Rockies and…
  5. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 5
    Fee-based Revenues with No Commodity Risk Fee-based revenues Tariffs from pipeline movements Storage and transfer fees for terminal activity Loading fees for loading rack activity Capacity lease commitments With no commodity…
  6. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 6
    Long Term Contracts Support Cashflow Stability Major refiner customers have entered into 15-year long term contracts Minimum Annual Commitment Term Contracts require minimum Counterparty (mm) Expiration payment obligations for…
  7. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 7
    Successful Execution of Growth Plan Over Time Organic growth: Increase cashflow via base business volume growth and annual contractual PPIrelated growth HFC growth: Partner with HFC to grow current asset base with projects and…
  8. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 8
    HEP Growth Chronology: IPO to Present Holly Tulsa Sale of 70% Holly Corporation loading rack interest in Rio Purchase of and Frontier Oil Holly intermediate additional dropdown Grande to Corporation feedstock pipeline…
  9. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 9
    HEP Statistics: Then and Now IPO Current July 2004 Pipeline miles 1,000 2,900 Product terminals 9 13 Loading racks 2 15 Storage (mm bbls) 2.0 11.8 Annual EBITDA runrate (mm) 35.0 200.0+ Quarterly distr (/unit/qtr) 0.500 0.925…
  10. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 10
    HEP Growth: EBITDA* Since Inception *Definition on page 21 11
  11. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 11
    HEP Growth: Distributable Cash Flow1 120 111.52 100.3 100 91.0 Distributable Cash Flow (mms) 80 72.2 60.4 60 51.0 47.2 41.4 40 20 2005 2006 2007 2008 2009 2010 2011 2012 1 Definition on page 21 12 2 As of September…
  12. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 12
    HEP Growth: Limited Partner Distributions Distribution has been increased every quarter since IPO32 consecutive quarters 3.62 3.75 3.44 3.50 3.28 3.12 3.25 2.96 3.00 2.78 2.75 2.58 2.50 2.22 2.25 2.00 2005 2006 2007…
  13. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 13
    Strategic Relationship with HollyFrontier (HFC) HEPs assets are integral to HollyFrontiers five refineries Currently HFC owns 42% of the MLP through a limited partner interest and 2% through a general partner interest As HFC…
  14. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 14
    HFC & HEP Assets: Current Footprint 15
  15. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 15
    HollyFrontier Business Highlights Pure play competitive refiner 5 refineries with 440,000 bbls per day of refining capacity High refining complexity combined Nelson complexity of over 12.0. Multiple sources of crude oil all crude…
  16. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 16
    HollyFrontier Corporation: Strong Returns on Capital Highest Return on Invested Capital among refining peer group (20072011 average)* *PSX and MPC are 3 and 4 year averages respectively based on historical ROCE data provided by the…
  17. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 17
    HEP Investment Highlights Well positioned assets that serve high growth markets Revenues are 100% fee based with no commodity ownership risk Long-term contracts support cash flow stability Successful execution of growth plan has…
  18. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 18
    Contact Information: Holly Energy Partners, L.P. (NYSE: HEP) 2828 N. Harwood, Suite 1300 Dallas, Texas 75201 (214) 8713555 For investor relations questions please contact: Neale Hickerson, Investor Relations…
  19. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 19
    Appendix 20
  20. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 20
    Definitions BPD: Barrels per day DISTRIBUTABLE CASH FLOW: Distributable cash flow (DCF) is not a calculation based upon GAAP. However, the amounts included in the calculation are derived from amounts separately presented in our…
  21. Wells Fargo Energy Conference – Holly Energy Partners L.P – slide 21
    Financial Metrics for HFC 5Yr Ave HOLLYFRONTIER 2011 2010 2009 2008 2007 ROIC Net Income 1,330.2 141.6 (65.0) 347.0 736.1 Total Debt EX HEP 1,036.8 674.8 725.8 5.2 150.0 Total Equity 7,098.1 2,274.6 2,151.6 1,587.4 1,474.3…

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