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2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P.

Nustar Energy L.P. · May 22, 2014 · 27 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 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 1
    2014 NAPTP Master Limited Partnership Investor Conference May 21 & 22, 2014
  2. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 2
    NuStar Overview
  3. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 3
    Two Publicly Traded Companies NuStar Energy L.P. (NYSE: NS) is Public Unitholders William E. Greehey 34.5 million NSH Units 8.2 million NSH Units a publicly traded partnership with 80.7% 19.3% a market capitalization of Membership…
  4. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 4
    Large and Diverse Geographic Footprint with Assets in Key Locations Asset Stats: Operations in the U.S., Canada, Mexico, the Netherlands, including St. Eustatius in the Caribbean, the United Kingdom and Turkey. Own 87 terminal…
  5. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 5
    Majority of Operating Income Generated by Fee-Based Storage and Pipeline Segments Percentage of Estimated 2014 Segment Operating Income Storage: 41% Refined Product Terminals Crude Oil Storage 41% Pipeline: 54% Refined Product…
  6. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 6
    Achieving our 1st Quarter Goals Significantly Bolsters our 2014 Goals: We Will Improve Profitability & Return to a 1.0x Coverage Ratio Closed on Asphalt JV divestiture No more impact to earnings after 1st quarter Signed long-term…
  7. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 7
    Pipeline Segment Update
  8. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 8
    Growth in Eagle Ford Shale Region Leading to Growth in Pipeline Segment EBITDA Pipeline Receipts by Commodity Pipeline Segment EBITDA 317 to 337 LTM as of 3/31/14 ( in Millions)1 277 Other 11% 211 190 199 198 186 176 Crude…
  9. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 9
    South Texas Crude Oil Pipeline Expansion In December 2012, NuStar acquired 140 miles of crude oil transmission and gathering lines, as well as five storage terminals, for around 325 million Major Eagle Ford Pipeline internal growth…
  10. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 10
    NuStar Continues to Increase Throughputs in the Eagle Ford Shale Region 350 305 305 275 275 245 250 240 220 179 168 150 4Q 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 1Q 2015 2Q 2015 3Q 2015 4Q 2015 Actual Actual…
  11. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 11
    NuStars Eagle Ford Presence Pawnee to Oakville PL 12 Second Phase of Expansion 12 Choke Canyon PL 12 Pettus South 10 Laredo PL 8 Houston 12 Corpus-Odem-3R 8 Oakville to Corpus 16 Valley PL 6/8/10…
  12. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 12
    Reactivation of an Idle 12-inch Pipeline should increase EBITDA by 23 million1 Signed long-term agreement with Occidental Petroleum (Oxy) in February 2014. Oxy will ship NGLs on our formerly idle, 200-mile 12-inch pipeline between…
  13. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 13
    Focusing on Other Pipeline Growth Opportunities Expanding our existing South Texas Crude Oil Pipeline System Constructing or acquiring crude oil gathering assets that would supply our South Texas Crude Oil Pipeline System Analyzing…
  14. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 14
    Storage Segment Update
  15. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 15
    2014 Storage Segment EBITDA Expected to be Comparable to 2013 Adjusted Storage Segment EBITDA Storage Contract Renewals ( in Millions)1 (% as of 4/15/2014) 279 287 277 277 256 40% 242 208 32% 177 23% 5% 2007 2008 2009…
  16. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 16
    Pursuing Other Storage Terminal Opportunities Exploring rail car off-loading projects on the West Coast Considering viability of Pt. Tupper rail offloading facility for crude oil and/or LPG Evaluating additional storage and unit train…
  17. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 17
    Fuels Marketing Segment Update
  18. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 18
    We Expect Reduced Working Capital Requirements and Minimized Volatility in the Fuels Marketing Segment Segment is composed of: Refined Products Marketing Fuel Oil Trading and Bunkering Crude Oil Trading A back-to-back supply…
  19. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 19
    Financial Overview
  20. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 20
    Capital Structure (as of March 31, 2014, Dollars in Millions) 1.5 billion Credit Facility 559 NuStar Logistics Notes (4.75%) 250 NuStar Logistics Notes (4.80%) 450 NuStar Logistics Notes (6.75%) 300 NuStar Logistics Notes (8.15%)…
  21. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 21
    Debt Maturity Profile (as of March 31, 2014, Dollars in Millions) Sub Notes GO Zone Financing 1,000 Sr. Unsecured Notes Revolver 753 Callable in 2018, but 750 final maturity in 2043 403 500 559 250 450 350 365 300…
  22. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 22
    Internal Growth Spending: Expect 350 to 370 million Range for 2014 (Dollars in Millions) 374 350 to 370 400 294 302 300 219 200 100 0 2010 2011 2012 2013 2014 Forecast Total Capital Spending, which includes…
  23. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 23
    Our Unitholders Can Rely on us to Continue Focusing on Safety & Core Operations Stability Community - Recognized nationally for - High-quality, large and - Fee-based storage and safety and environmental diverse asset footprint…
  24. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 24
    Appendix
  25. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 25
    Reconciliation of Non-GAAP Financial Information: Financial Information NuStar Energy L.P. utilizes financial measures, such as earnings before interest, taxes, depreciation and amortization (EBITDA), distributable cash flow (DCF),…
  26. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 26
    Reconciliation of Non-GAAP Financial Information: Pipeline Segment NuStar Energy L.P. utilizes financial measures, such as earnings before interest, taxes, depreciation and amortization (EBITDA), distributable cash flow (DCF), adjusted…
  27. 2014 NAPTP Master Limited Partnership Investor Conference – Nustar Energy L.P. – slide 27
    Reconciliation of Non-GAAP Financial Information: Storage & Fuels Marketing Segments NuStar Energy L.P. utilizes financial measures, such as earnings before interest, taxes, depreciation and amortization (EBITDA), distributable cash…

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