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UBS MLP Conference – Holly Energy Partners L.P

Holly Energy Partners L.P · Jan 14, 2015 · 21 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. UBS MLP Conference – Holly Energy Partners L.P – slide 1
    Holly Energy Partners, L.P. UBS MLP Conference January 2015
  2. UBS MLP Conference – Holly Energy Partners L.P – slide 2
    Holly Energy Partners, L.P. (HEP) Investment Highlights Well positioned assets serve high growth markets Revenues are 100% fee based with no commodity ownership risk Long-term contracts support cash flow stability HEP benefits…
  3. UBS MLP Conference – Holly Energy Partners L.P – slide 3
    Well Positioned Assets 4
  4. UBS MLP Conference – Holly Energy Partners L.P – slide 4
    Fee-based Revenues with No Commodity Risk Fee-based revenues Tariffs from pipeline movements Storage and transfer fees for terminal activity Loading fees for loading rack activity Capacity lease commitments With no commodity…
  5. UBS MLP Conference – Holly Energy Partners L.P – slide 5
    Long Term Contracts Support Cashflow Stability Percent of Revenues from Minimum Volume Commitments(1) Major refiner customers have entered into 90% long term contracts 80% Contracts require minimum payment 70% obligations for…
  6. UBS MLP Conference – Holly Energy Partners L.P – slide 6
    HollyFrontier Business Highlights Pure play competitive refiner 5 refineries with 443,000 bbls per day of refining capacity High refining complexity combined Nelson complexity of over 12.0. Multiple sources of crude oil all crude…
  7. UBS MLP Conference – Holly Energy Partners L.P – slide 7
    Strategic Relationship with HollyFrontier HEPs assets are integral to HollyFrontiers five refineries Currently, subsidiaries of HFC own 37% of the MLP through limited partner interests and 2% through a general partner interest…
  8. UBS MLP Conference – Holly Energy Partners L.P – slide 8
    Successful Execution of Growth Plan Over Time Organic Growth Increase cash flow via logical additions to existing assets, volume growth and annual contractual PPI-related revenue growth HFC Growth Partner with HollyFrontier to…
  9. UBS MLP Conference – Holly Energy Partners L.P – slide 9
    HEP Growth Chronology: IPO to Present Holly Tulsa Sale of 70% Holly Corporation loading rack interest in Rio Purchase of and Frontier Oil Holly intermediate additional dropdown Grande to Corporation Crude Gathering feedstock…
  10. UBS MLP Conference – Holly Energy Partners L.P – slide 10
    HEP Growth Since Inception Growing Financial Returns: 17%+ CAGR in Revenue, EBITDA, DCF(1) (data in millions) Revenue, 18% CAGR EBITDA, 18% CAGR DCF, 17% CAGR 192 305 147 80 50 41 2005 2013 2005 2013 2005 2013…
  11. UBS MLP Conference – Holly Energy Partners L.P – slide 11
    HEP Growth: Limited Partner Distributions Distribution has been increased every quarter since IPO40 consecutive quarters Annual Distribution (/unit) 1 1Distributions are split adjusted reflecting HEPs January 2013 two-for-one…
  12. UBS MLP Conference – Holly Energy Partners L.P – slide 12
    Growth Track Record: Limited Commodity Risk DPU: Distribution per unit Source: Bloomberg 13
  13. UBS MLP Conference – Holly Energy Partners L.P – slide 13
    Focus on Crude Transportation 14
  14. UBS MLP Conference – Holly Energy Partners L.P – slide 14
    Southeastern New Mexico Crude Gathering System Expansion System Overview - 800 miles of pipeline in Southeastern New Mexico Permian Provides connections to major clearing points Production: 200 300m bpd Centurion to Cushing growth…
  15. UBS MLP Conference – Holly Energy Partners L.P – slide 15
    UNEV Pipeline Volume Growth Though shipments have exceeded minimums for short periods of time, UNEV volumes are running at or below minimums on average UNEV to continue contributing to DCF at minimum levels until SLC area…
  16. UBS MLP Conference – Holly Energy Partners L.P – slide 16
    HEP Expected Visible Growth Expected Annual Expected Incremental Timing Revenue SE NM Crude Gathering 10 mm 4Q 2014(1) UNEV Volume Increase 15 mm 2015 - 2016(2) via SLC Refinery Expansions Contractual Tariff Increases 3 - 9…
  17. UBS MLP Conference – Holly Energy Partners L.P – slide 17
    Holly Energy Partners, L.P. Investment Highlights Well positioned assets serve high growth markets Revenues are 100% fee based with no commodity ownership risk Long-term contracts support cash flow stability HEP benefits from…
  18. UBS MLP Conference – Holly Energy Partners L.P – slide 18
    Contact Information: Holly Energy Partners, L.P. (NYSE: HEP) For investor relations questions please contact: Julia Heidenreich, VP, Investor Relations Craig Biery, Investor Relations 2828 N. Harwood, Suite 1300 Dallas, Texas…
  19. UBS MLP Conference – Holly Energy Partners L.P – slide 19
    Appendix 20
  20. UBS MLP Conference – Holly Energy Partners L.P – slide 20
    HEP Assets Holly Energy Partners owns and operates substantially all of the refined product pipeline and terminaling assets that support HollyFrontiers refining and marketing operations in the Mid-Continent, Southwest and Rocky…
  21. UBS MLP Conference – Holly Energy Partners L.P – slide 21
    Definitions BPD: Barrels per day DISTRIBUTABLE CASH FLOW: Distributable cash flow (DCF) is not a calculation based upon GAAP. However, the amounts included in the calculation are derived from amounts separately presented in our…

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