Shai Even Senior Vice President & Chief Financial Officer Citi One-on-One MLP/Midstream Infrastructure Conference - August 2014
Alon USA Energy Overview Alon USA Energy, Inc. (NYSE: ALJ) owns 81.6% of the limited partner interests in Alon USA Partners, LP (NYSE: ALDW), which owns a crude oil refinery in Big Spring, TX. Alon USA Energy is composed of three…
Alon USA Partners The 73,000 bpd Big Spring refinery processes oil from the Permian Basin into finished products such as gasoline, diesel, jet fuel and petrochemicals, which are marketed primarily in West Texas, Central Texas, Oklahoma,…
Our Strategic Advantages Strategically located refinery in the heart of the prolific Permian Basin High quality asset with low operating costs Physically integrated refining and marketing system Strong liquidity position and…
Sustainable Feedstock Advantage Crude spreads influence crack spreads, and ultimately, profitability WTI-based crudes are expected to trade at a discount to Brent over the next few years, providing a sustainable feedstock advantage…
Big Spring: In the Heart of the Permian Basin Simmons expects Permian crude production to grow by 250 MBpd in 2014 and 20151 560 active rigs in the Permian in August 2014 vs. the average of less than 300 rigs in 2010 2 Big Spring is…
Big Spring Refinery Overview Refinery Operating Margin1 Big Spring refinery: 73,000 bpd (26 MMbbl/year) sour crude cracking refinery 10.5 Nelson Complexity Integrated wholesale fuels marketing business supplies 640 branded sites,…
How Big Spring Made Money YTD 2Q 2014 Product Yields Crude / Blendstocks Refining Operating Margin1 Per bbl Per bbl Per bbl Gasoline 8.94 18.65 Gasoline Sour 48.0% Crude 114.17 42.7% 1.08 Jet 28.59 Jet 122.13 4.0%…
Highly Efficient Operations Solomon Results Utilized EDC% Big Spring has achieved strong utilization rates and high mechanical availability while maintaining capital discipline 2012 Solomon Rankings Mechanical Availability %…
Business Opportunities Capitalizing on crude slate flexibility by running lowest cost inputs/ highest margin outputs Continuing to debottleneck refinery and implement relatively low-cost projects that enhance gross margin…
Organic Growth Opportunities at Big Spring Evaluating low-risk projects with payback periods of less than two years to enhance the refinerys gross margin, focused on: LPG recovery Increased aromatics recovery Producing…
Delivering Organic Growth at Big Spring Initial Goals of Vacuum Tower Project Actual Results Exceeded Expectations Increase distillate production by 2,000 bpd Increased distillate production by over 3,000 bpd Enhance energy…
Key Financial Metrics Increase in capital expenditures in 2014 Capital Expenditures1 mainly relates to major five-year turnaround, which took place in 2Q 2014. Net debt increased mainly due to the turnaround. ALDW purchased less…
Distributions 2013 - Current (dollars in thousands, except per unit data) 1Q 2013 2Q 2013 3Q 2013 4Q 2013 2013 1Q 2014 2Q 20141 Net income 93,525 45,321 (16,120) 13,496 42,241 7,802 Interest expense 9,392 8,970 12,127 9,985 11,324…
2013 and YTD 2Q 2014 Financial Highlights (in millions, except per bbl numbers) 2013 YTD 2Q 20141 Revenue 3,430 1,582 Refinery operating margin per throughput bbl 14.59 15.56 Refinery direct operating expense per throughput bbl 4.53…
Statement of Operations (In 000's, except per unit data) For the Three Months Ended (ALL INFORMATION IS UNAUDITED) June 30, 2014 June 30, 2013 STATEMENT OF OPERATIONS DATA: Net sales 725,852 865,694 Operating costs and expenses:…
Balance Sheet (In 000's) June 30 December 31 (2014 INFORMATION IS UNAUDITED) 2014 2013 ASSETS Current assets: Cash and cash equivalents 81,099 153,583 Accounts and other receivables, net 86,173 123,781 Accounts and other…
Statement of Cash Flows (In 000's) For the Six Months Ended (ALL INFORMATION IS UNAUDITED) June 30, 2014 June 30, 2013 Cash flows from operating activities: Net income 50,043 138,846 Adjustments to reconcile net income to cash…
Guidance and RINs Total throughput at Big Spring is expected to average 74,000 bpd in 3Q 2014 and 75,000 bpd in 4Q 2014 Full-year 2014 RINs cost expected to be approximately 8 million based on a weighted average RINs price of…
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, Oklahoma.…
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