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Jefferies 2014 Global Energy Conference – Nustar Energy L.P.

Nustar Energy L.P. · Nov 12, 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. Jefferies 2014 Global Energy Conference – Nustar Energy L.P. – slide 1
    Jefferies 2014 Global Energy Conference November 11 & 12, 2014
  2. Jefferies 2014 Global Energy Conference – Nustar Energy L.P. – slide 2
    NuStar Overview
  3. Jefferies 2014 Global Energy Conference – Nustar Energy L.P. – slide 3
    Two Publicly Traded Companies NuStar Energy L.P. (NYSE: NS) is Public Unitholders William E. Greehey 34.6 million NSH Units 8.2 million NSH Units a publicly traded partnership with 80.8% 19.2% a market capitalization of Membership…
  4. Jefferies 2014 Global Energy 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, and the United Kingdom. Own 82 terminal and…
  5. Jefferies 2014 Global Energy Conference – Nustar Energy L.P. – slide 5
    Majority of Segment EBITDA Generated by Fee-Based Storage and Pipeline Segments Percentage of 2014 Segment EBITDA (YTD through 9/30/14) Storage: 46% Refined Product Terminals 46% Crude Oil Storage Pipeline: 50% Refined Product…
  6. Jefferies 2014 Global Energy Conference – Nustar Energy L.P. – slide 6
    Achieving 2014 Goals - On Track to Cover Distribution for the Full-Year 2014 Closed on Asphalt JV divestiture No more impact to earnings after 1st quarter Signed long-term agreement to re-activate idled 200-mile 12 pipeline…
  7. Jefferies 2014 Global Energy Conference – Nustar Energy L.P. – slide 7
    Pipeline Segment Update
  8. Jefferies 2014 Global Energy 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 342 to 382 317 to 337 LTM as of 9/30/14 ( in Millions)1 277 Other 10% 211 199 198 186 190…
  9. Jefferies 2014 Global Energy 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. Jefferies 2014 Global Energy Conference – Nustar Energy L.P. – slide 10
    Throughputs in NuStars South Texas Crude Oil Pipeline System Continue to Increase 300 292 284 287 261 262 255 225 218 220 207 200 179 178 173 175 168 149 120 112 100 4Q 2013 1Q 2014 2Q 2014 3Q 2014 4Q 2014 1Q 2015 2Q…
  11. Jefferies 2014 Global Energy Conference – Nustar Energy L.P. – slide 11
    NuStars South Texas Pipeline 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…
  12. Jefferies 2014 Global Energy Conference – Nustar Energy L.P. – slide 12
    NuStars 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…
  13. Jefferies 2014 Global Energy 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 Evaluating…
  14. Jefferies 2014 Global Energy Conference – Nustar Energy L.P. – slide 14
    Storage Segment Update
  15. Jefferies 2014 Global Energy 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 10/17/2014) 279 287 277 277 47% 256 242 208 177 25% 24% 4% 2007 2008 2009…
  16. Jefferies 2014 Global Energy 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 expansion at…
  17. Jefferies 2014 Global Energy Conference – Nustar Energy L.P. – slide 17
    Fuels Marketing Segment Update
  18. Jefferies 2014 Global Energy 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 Bunkering Crude & Fuel Oil Trading A back-to-back supply agreement at our…
  19. Jefferies 2014 Global Energy Conference – Nustar Energy L.P. – slide 19
    Financial Overview
  20. Jefferies 2014 Global Energy Conference – Nustar Energy L.P. – slide 20
    Capital Structure (as of September 30, 2014, Dollars in Millions) 1.5 billion Credit Facility 582 NuStar Logistics Notes (4.75%) 250 NuStar Logistics Notes (4.80%) 450 NuStar Logistics Notes (6.75%) 300 NuStar Logistics Notes…
  21. Jefferies 2014 Global Energy Conference – Nustar Energy L.P. – slide 21
    Long-term Debt Maturity Profile (as of September 30, 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 403 500 582 250 450…
  22. Jefferies 2014 Global Energy Conference – Nustar Energy L.P. – slide 22
    Internal Growth Spending: Expect 330 to 350 million range for 2014 and 400 to 420 million Range for 2015 (Dollars in Millions) 400 500 to 420 374 330 to 400 350 294 302 300 219 200 100 0 2010 2011 2012 2013 2014 2015…
  23. Jefferies 2014 Global Energy 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. Jefferies 2014 Global Energy Conference – Nustar Energy L.P. – slide 24
    Appendix
  25. Jefferies 2014 Global Energy Conference – Nustar Energy L.P. – slide 25
    Reconciliation of Non-GAAP Financial Information: Financial Information NuStar Energy L.P. utilizes financial measures, earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations, distributable…
  26. Jefferies 2014 Global Energy Conference – Nustar Energy L.P. – slide 26
    Reconciliation of Non-GAAP Financial Information: Pipeline Segment NuStar Energy L.P. utilizes financial measures, earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations, distributable cash…
  27. Jefferies 2014 Global Energy Conference – Nustar Energy L.P. – slide 27
    Reconciliation of Non-GAAP Financial Information: Storage & Fuels Marketing Segments NuStar Energy L.P. utilizes financial measures, earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations,…

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