Alon USA Energy Overview Alon USA Energy (NYSE: ALJ) owns 81.6% of the limited partner interests in Alon USA Partners, LP, which owns a crude oil refinery in Big Spring, TX. Alon USA Energy is divided into three segments: refining and…
Alon USA Partners The 70,000 bpd Big Spring refinery processes oil from the Permian Basin into finished products such as gasoline and diesel, which are marketed primarily in the Southwest United States through its integrated wholesale…
2013 and 1Q 2014 Financial Highlights (in millions, except per bbl numbers) 2013 1Q 2014 Revenue 3,430 856 Refinery operating margin per throughput bbl 14.59 14.77 Refinery direct operating expense per throughput bbl 4.53 4.39 Adjusted…
Our Strategic Advantages Strategically located refinery in the heart of the Permian Basin High quality asset with low operating costs Physically integrated refining and marketing system Strong liquidity position and flexibility…
Sustainable Feedstock Advantage Crude spreads influence crack spreads, and ultimately, profitability WTI-based crudes are expected to trade at a discount to international benchmarks (Brent) over the next few years, providing a…
Big Spring: In the Heart of the Permian Basin Analysts expect Permian production to average 2.5 - 2.8 MMBpd in 2018, up from 1.4 MMBpd in 20131 543 active rigs in the Permian in May 2014 vs. the average of less than 300 rigs in 20102…
Big Spring Refinery Overview Refinery Operating Margin ALDWs assets include the Big Spring, Texas refinery and the integrated wholesale fuels marketing business 23.37 27.43 23.50 19.16 Big Spring refinery: 20.89 16.81…
How Big Spring Made Money in 2013 Product Yields Crude / Blendstocks Refining Operating Margin Per bbl Per bbl Per bbl Gasoline 9.28 18.43 112.95 Gasoline 50.4% Jet Sour Crude 1.35 27.82 65.1% 122.34 Jet 4.9% 8.76…
Peer-leading Capital Efficiency Leads peers in free cash flow generated per throughput barrel Disciplined approach to capital outlays Supply and offtake agreement reduces exposure to market fluctuations, reducing risk 25.0 19.7…
Highly Efficient Operations Solomon Results Utilized EDC% Big Spring has achieved strong utilization Q-1 rates and high mechanical availability while Q-2 Q-3 maintaining capital discipline Q-4 BSR 2011 2012 2013 2012 Solomon…
Flexible Refinery with Low Operating Expenses 5.66 5.57 5.23 5.28 4.81 4.53 ALJ/ALDW Big Spring, TX DK Tyler, TX NTI St. Paul, MN CVRR (1) WNR (2) HFC Mid-Con & Southwest regions (3) 2013 Refinery Operating Expenses…
Business Opportunities Capitalize on crude slate flexibility by running lowest cost inputs/ highest margin outputs Continue to debottleneck refinery and implement relatively low-cost projects that enhance gross margin Leverage…
Organic Growth Opportunities at Big Spring Initiative Cost Incremental EBITDA Implementation Increase distillate production by 2,000 bpd; enhance energy efficiency and During 2Q14 25 million 19 million1 ability to process lighter…
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Pricing and Operating Statistics 2011 2012 2013 1Q 2014 Pricing Statistics: Gulf Coast 3-2-1 23.37 27.43 19.16 16.81 WTI Cushing less WTI Midland 0.53 2.88 2.59 3.54 WTI Cushing less WTS 2.19 4.09 3.72 3.67 Brent less WTI Cushing…
Key Financial Metrics Capital Expenditures Increase in capital expenditures in 2014 mainly relates to major five-year turnaround taking 56 place in 2Q 2014 9 millions 32 30 1 6 47 31 24 Net Debt 2012 2013 2014 Budget…
Capital Structure (in thousands) March 31, 2014 Cash 168,348 Current portion of long-term debt 2,500 Long-term debt 341,332 Total debt 343,832 Net Debt 175,484 Partners' equity 176,433 Total Capitalization 520,265 Net…
Distributions 2013 - Current (dollars in thousands, except per unit data) 1Q 2013 2Q 2013 3Q 2013 4Q 2013 2013 1Q 2014 Net Income 93,525 45,321 (16,120) 13,496 42,241 Interest expense 9,392 8,970 12,127 9,985 11,324 State income tax…
Statement of Operations (ALL INFORMATION IS UNAUDITED) For the Three Months Ended March 31 2014 2013 (dollars in thousands, except per unit data) STATEMENT OF OPERATIONS DATA: Net sales 856,460 804,167 Operating costs and…
Balance Sheet March 31 December 31 In 000's 2014 2013 (2014 INFORMATION IS UNAUDITED) Assets Current assets: Cash and cash equivalents 168,348 153,583 Accounts and other receivables, net 136,379 123,781 Accounts and other…
Statement of Cash Flows For the Three Months Ended March 31 In 000's 2014 2013 (ALL INFORMATION IS UNAUDITED) Cash flows from operating activities: Net income 42,241 93,525 Adjustments to reconcile net income to cash provided by…
Guidance and RINs Throughput at Big Spring is expected to average 46,000 bpd in 2Q 2014 as a result of the turnaround and 67,000 bpd for full-year 2014 Full-year 2014 RINs cost expected to be approximately 12 million based on a…
Crude Types Driving Big Springs Profitability Brent The global crude benchmark, which largely determines global product pricing West Texas Intermediate (WTI) The benchmark light sweet crude for the U.S., priced in Cushing,…
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