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2014 Citi One on One MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp

Western Refining Logistics, Lp · Aug 20, 2014 · 16 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. 2014 Citi One on One MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 1
    2014 Citi One-on-One MLP/Midstream Infrastructure Conference August 20, 2014
  2. 2014 Citi One on One MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 2
    Investment Highlights Assets in, or near, high growth Permian / Delaware and San Juan basins Well-Positioned Assets in These shale-focused, crude oil-producing basins are experiencing significant High Growth Regions production…
  3. 2014 Citi One on One MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 3
    Asset Base Approximately 300 miles of crude oil and refined product pipelines and gathering systems in the Southwestern U.S. Approximately 7.9 million barrels of active storage capacity for refined products, crude oil and other…
  4. 2014 Citi One on One MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 4
    Growing Crude Oil Basins Delaware Basin Overview San Juan / Paradox Basins Overview Production expected to nearly double by 2018 Located in the Four Corners area Crude oil well-suited for WNRs El Paso refinery Production expected to…
  5. 2014 Citi One on One MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 5
    Stable and Predictable Cash Flows Revenue Contribution Projected ending 9/30/14 Traditional logistics assets Gathering, generating 100% fee-based Terminalling, Blending & Other 28% revenue 36% Storage Revenue stream across…
  6. 2014 Citi One on One MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 6
    Significant Organic Growth Profile Delaware Basin gathering lines Tankage at Gallup/ Mason Station 20 million LACT units Delaware Basin system capacity: (barrels per day) Q2 2014 Volume Capacity Mainline 24,196 100,000 1…
  7. 2014 Citi One on One MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 7
    Substantial Drop Down Growth Portfolio TexNew Mex 16 Pipeline / Extension (in construction) Approximately 299 miles of inactive pipeline with hydraulic capacity to flow north or south Pipeline connection between Delaware Basin 1.…
  8. 2014 Citi One on One MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 8
    Strategic Relationship with Strong Sponsor Two well-situated refineries; integrated wholesale / retail and strong financial position Westerns Areas of Operations Access to high quality, cost-advantaged crude from Permian and San…
  9. 2014 Citi One on One MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 9
    Volumes Mainline Movements Gathering Storage 2 (bpd) (bpd) (millions bbls) 70,000 40,000 9.0 35,000 8.0 60,000 7.0 30,000 50,000 6.0 25,000 40,000 5.0 20,000 30,000 4.0 15,000 3.0 20,000 10,000 2.0 10,000 5,000 1.0 0 0…
  10. 2014 Citi One on One MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 10
    Financial Results Revenue EBITDA (millions) (millions) 40 16 35 14 30 12 25 10 20 8 15 6 10 4 5 2 0 0 Q4 '13 Q1 '14 Q2 '14 Q4 '13 Q1 '14 Q2 '14 Cash Available for Distribution Distribution Per Unit (millions) 16 0.35…
  11. 2014 Citi One on One MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 11
    WNRL Investment Highlights Well-Positioned Assets in High Growth Regions Long-Term, Fee-Based Contracts Provide Stable and Predictable Cash Flows Significant Growth Opportunities Strategic Relationship with WNR…
  12. 2014 Citi One on One MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 12
    Appendix
  13. 2014 Citi One on One MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 13
    Pipeline and Gathering Assets Delaware Basin / Permian Basin System Total system capacity of 138,000 bpd Includes 38 miles of crude oil pipelines located in Southeastern New Mexico and West Texas with 100,000 bpd mainline capacity…
  14. 2014 Citi One on One MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 14
    Terminalling, Transportation and Storage Assets El Paso Refined Products Terminal and Tank Farm 5.2 million bbls storage 45,000 bpd capacity truck offloading Gallup Refined Products Terminal and Tank Farm 927,000 bbls storage…
  15. 2014 Citi One on One MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 15
    Partnership Information Unit Information Number of Units (000): Public 15,813 Unit Price (8-7-2014): 31.94 WNR Common 6,998 Yield: 3.9% WNR Subordinated 22,811 WNR GP 0 Total 45,622 IDR Structure Marginal Percentage…
  16. 2014 Citi One on One MLP Midstream Infrastructure Conference – Western Refining Logistics, Lp – slide 16
    EBITDA and Distributable Cash Flow Definitions We define EBITDA as earnings before interest expense and other financing costs, provision for income taxes, depreciation, amortization and certain other non-cash income and expense items. We…

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