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2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P.

Blueknight Energy Partners, L.P. · Dec 1, 2014 · 30 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 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 1
    2014 Wells Fargo Energy Symposium December 2014 The Smart Move in Energy Private and Confidential 2014 Wells Fargo Energy Symposium (NASDAQ: BKEP & BKEPP)
  2. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 2
    Partnership Overview Private and Confidential 2014 Wells Fargo Energy Symposium (NASDAQ: BKEP & BKEPP)
  3. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 3
    Partnership Overview Blueknight Energy Partners, L.P. (BKEP) is a publicly traded master limited partnership Headquartered in Oklahoma City, Oklahoma; established in 2007 General Partner owned equally by Vitol and Charlesbank…
  4. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 4
    Common and Preferred Units Common Units Preferred Units Market NASDAQ NASDAQ Symbol BKEP BKEPP Outstanding 32,766,663 30,158,619 Yield at 12/2/14 8.1% 7.9% Distribution Fifth consecutive quarterly distribution 0.715/unit annual…
  5. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 5
    Sponsorship Overview Worlds largest independent oil trading Private equity firm with over 2 billion of company capital under management Moves equivalent of over 5 million Long history of making middle-market barrels/day of…
  6. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 6
    Ownership Charlesbank Capital Partners Vitol Holding B.V. CB-Blueknight, LLC Blueknight Energy Holding, Inc. 50.0% 50.0% Ownership Ownership Interest Interest Blueknight GP Holding, LLC (DE) 14.3% Limited 14.3% Limited…
  7. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 7
    Diversified Operations Asphalt Terminal Crude Oil Terminalling and Network (52.1%) Storage (25.6%) 7.0 million barrels of 6.6 million barrels of asphalt and residual Cushing, OK storage fuel oil storage 0.4 million barrels of 42…
  8. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 8
    Crude Oil Areas of Operation Private and Confidential 2014 Wells Fargo Energy Symposium (NASDAQ: BKEP & BKEPP)
  9. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 9
    Partnership Objectives and Strategy Partnership Objectives Business Strategy Deliver unit-holder value through unit Deliver unit-holder value through unit price appreciation and increasing price appreciation and increasing…
  10. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 10
    Crude Oil Terminalling & Storage Services Customer Value Creation Provides our customers the ability to effectively manage their crude oil inventories and add significant flexibility in their marketing and operating activities…
  11. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 11
    Crude Oil Pipeline Services: Oklahoma Systems Mid-Continent Mainline System 510-mile gathering and transportation network that gathers wellhead crude oil at a capacity of 20,000 bpd Transports the crude oil to our Cushing terminal,…
  12. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 12
    Crude Oil Pipeline Services: West Texas BKEP has 30% ownership and operates the 16 Pecos River Pipeline under a long-term service agreement with Advantage Pipeline, L.L.C. Provides crude transportation from west Texas to the…
  13. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 13
    Crude Oil Trucking & Producer Field Services Crude Trucking Crude oil trucking operations extend our ability to gather and aggregate crude oil on our systems and deliver product for third parties to their facilities Approximately…
  14. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 14
    Asphalt Services Largest independently owned asphalt terminal network 7.0 million barrels of asphalt and residual fuel oil storage capacity in 42 terminals across 21 states Generate revenues by charging fees for the lease of…
  15. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 15
    Growth Projects/Current Market Private and Confidential 2014 Wells Fargo Energy Symposium (NASDAQ: BKEP & BKEPP)
  16. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 16
    Knight Warrior Pipeline New construction, 160 mile, 16 pipeline with an initial capacity of 100,000bpd (expandable up to 200,000bpd) and terminal system to meet infrastructure needs of producers and marketers in the developing East…
  17. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 17
    Other Growth Projects Growth focused on crude oil pipeline segment Developing two additional pipeline projects in growing shale production areas: West Texas Pipeline Expansion (Delaware / Permian basins) Oklahoma Crude /…
  18. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 18
    West Texas Proposed 100+ mile crude oil pipeline that originates at multiple points in West TX and SE New Mexico near the TX / NM border Potential connections include: Wink, Vitol Midland, SunVit Pipeline and Advantage Pecos River…
  19. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 19
    Oklahoma Crude & Condensate: Potential project to lay a new 110 mile pipeline (Segment I) from Maysville, OK to Cushing, OK. Project will utilize more than 50% of existing BKEP right of way Condensate: Potential for second line (50…
  20. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 20
    Operations 25.6% 13.5% Leading Midstream Company With Four Diversified Operating Segments Crude Oil Terminalling & Storage Services Crude Oil Pipeline Services 8.8% 52.1% BKEPs Diversified Portfolio Provides Resilience in…
  21. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 21
    Financial Summary Private and Confidential 2014 Wells Fargo Energy Symposium (NASDAQ: BKEP & BKEPP)
  22. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 22
    Adjusted EBITDA and Leverage Ratio Adjusted EBITDA (s millions) Leverage Ratio 80,000 4.5x 70,000 4.0x 60,000 3.5x 3.0x 50,000 2.5x 40,000 2.0x 30,000 1.5x 20,000 1.0x 10,000 0.5x - 0.0x 2010 2011 2012 2013 YTD 9/30/14 2010…
  23. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 23
    Financial Targets and Strategy Financial Targets: 2014 Projected 2015 Projected Adjusted EBITDA: - low 60s - mid 60s Expansion Capital: - 28 - 33 million - 200 - 220 million 2015 Estimated Maintenance Capital: - 7 9 million - 10.0 -…
  24. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 24
    Financial Summary Private and Confidential 2014 Wells Fargo Energy Symposium 25 (NASDAQ: BKEP & BKEPP)
  25. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 25
    Actual / Forecasted Capital Spend s in thousands Private and Confidential 2014 Wells Fargo Energy Symposium 26 (NASDAQ: BKEP & BKEPP)
  26. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 26
    MLP Sector Capex Market 489 631 4,070 1,230 1,008 6,308 16,288 4,937 9,910 2,813 806 Capitalization 15 - '16 Capex 313 237 1,086 266 191 793 1,813 400 750 149 31 (est) Information provided by Citi Corporate and Investment Bank…
  27. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 27
    Key Investment Highlights Cushing Interchange: Resident player at core location for crude oil distribution and marketing Attractive Core Base Asphalt Facilities: Geographic diversification in key domestic markets with multiple potential…
  28. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 28
    Appendix Private and Confidential 2014 Wells Fargo Energy Symposium (NASDAQ: BKEP & BKEPP)
  29. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 29
    Selected Historical Financial Data Year Ended Nine Months Ended (s in thousands) December 31, September 30, 2012 2013 2013 2014 Selected Consolidated Statement of Operations Data Service revenue: Crude Oil Terminalling and…
  30. 2014 Wells Fargo Energy Symposium – Blueknight Energy Partners, L.P. – slide 30
    Adjusted EBITDA and Reconciliation of Non-GAAP Measures Adjusted EBITDA The following table presents a reconciliation of adjusted EBITDA to net income for the periods shown: Twelve Months Ended Nine Months Ended (s in thousands)…

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