2014 Wells Fargo 13th Annual Energy Symposium New York, NY December 9, 2014
INVESTMENT HIGHLIGHTS o Over 125 years of continuous operations, with a 27-year track record as a publicly traded MLP on the NYSE oPaid cash distributions each quarter since formation in 1986 o Lower cost of capital realized from…
ORGANIZATIONAL OVERVIEW Three Business Operating Units Buckeye owns and operates a diversified network of integrated assets providing midstream logistic solutions Domestic Pipelines & Terminals LTM(1) Adjusted EBITDA One of the…
PIPELINE AND TERMINAL SYSTEM MAP Copyright 2014 Buckeye Partners, L.P. 5
DOMESTIC PIPELINES & TERMINALS OVERVIEW o 6,000 miles of pipeline with 110 delivery locations Pipeline Throughput Volumes (bpd in thousands) 1,430.8 o More than 115 liquid petroleum product terminals 1,358.1 1,385.6 1,426.4…
GLOBAL MARINE TERMINALS OVERVIEW Buckeyes network of marine terminals enables it to facilitate global flows of liquid petroleum products and offer customers connectivity to some of the worlds most important bulk storage and blending…
BUCKEYE SERVICES OVERVIEW Merchant Services Development & Logistics o Provides valuable market insight and transparency to our o Operates or maintains third-party pipelines under logistics businesses agreements with major oil and gas,…
CRUDE OIL DIVERSIFICATION Buckeye is successfully leveraging its assets to provide crude oil logistics solutions to producers and refiners wherever possible Perth Amboy St. Lucia o Crude by rail capability completed Q3 2014 o 9…
BUCKEYE TEXAS PARTNERS ACQUISITION OVERVIEW Transaction Overview Financial Benefits o Buckeye acquired 80% of the interests of a newly formed o 100% fee-based take-or-pay cash flows company, Buckeye Texas Partners (BTP), with…
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…
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…
HESS TERMINALS ACQUISITION Unique opportunity to acquire a collection of terminals that are highly complementary with Buckeye's existing operations and enhances Buckeye's vision of creating a world-class, integrated terminal network…
KEY INITIATIVES: Growth Capital Projects DOMESTIC PIPELINES & TERMINALS GLOBAL MARINE TERMINALS PROJECTS PROJECTS Perth Amboy Chicago Complex Rail Capability Hartsdale Crude Tanks and Pipeline o Rail services to allow handling of crude…
INVESTMENT SUMMARY o Proven 27-year track record as a publicly traded partnership through varying economic and commodity price cycles o Stable fee-based cash flows derived from throughput volumes, tariffs and terminalling and…
NON-GAAP RECONCILIATIONS
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…
NON-GAAP RECONCILIATIONS In millions, except coverage ratio 2010 2011 2012 2013 LTM(3) Adjusted EBITDA from continuing operations (1)(2) : Pipelines & Terminals 346.4 361.0 409.5 471.1 502.8 Global Marine Terminals (4.7) 113.0…
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