Skip to main content Q4 2014 Earnings Review – Western Refining Logistics, Lp Investor Presentation | Shale Experts
Loading...
Pm

Q4 2014 Earnings Review – Western Refining Logistics, Lp

Western Refining Logistics, Lp · Feb 26, 2015 · 16 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. Q4 2014 Earnings Review – Western Refining Logistics, Lp – slide 1
    Q4 2014 Earnings Review February 26, 2015
  2. Q4 2014 Earnings Review – Western Refining Logistics, Lp – slide 2
    Q4 Highlights S Safe and reliable operations S Adjusted EBITDA of 313.4 million S Completed sale of Wholesale business to Western Refining Logistics for 360 million S Returned 424 million in cash to shareholders S 0.30 per share…
  3. Q4 2014 Earnings Review – Western Refining Logistics, Lp – slide 3
    Refining Operating Metrics 2 Gross Margin 1 Direct Operating Expenses Operating Margin ( per throughput barrel) ( per throughput barrel) ( per throughput barrel) 14.99 13.85 El Paso 9.88 10.44 3.97 4.55 16.56 14.43…
  4. Q4 2014 Earnings Review – Western Refining Logistics, Lp – slide 4
    Cash Flow Bridge Q3 2014 to Q4 2014 1,400 (120) 1,200 (198) 269 1,000 (226) 800 313 millions (76) (119) 600 (62) 167 400 650 598 200 0 Cash Adjusted 1 Additions to Cash Taxes Share Dividends Paid CAPEX Change…
  5. Q4 2014 Earnings Review – Western Refining Logistics, Lp – slide 5
    Capital Structure As of December 31, 2014 ( millions) WNR Western1 Consolidated Standalone Total Cash and Restricted Cash 2 598 456 Western Revolving Credit Facility Term Loan, due 2020 545 545 6.25% Senior Unsecured Notes due…
  6. Q4 2014 Earnings Review – Western Refining Logistics, Lp – slide 6
    First Quarter 2015 Guidance Operations St. Paul Park El Paso Gallup (NTI) Total Throughput (mbpd) 133 - 137 26.5 - 28.5 90 - 94 Direct Operating Expenses (/Bbl) 4.10 - 4.35 7.75 - 8.25 4.30 - 4.90 Other ( millions) Western NTI…
  7. Q4 2014 Earnings Review – Western Refining Logistics, Lp – slide 7
    Appendix
  8. Q4 2014 Earnings Review – Western Refining Logistics, Lp – slide 8
    Reconciliation of Special Items Three Months Ended December 31, 2014 2013 (In thousands, except per share data) Reported diluted earnings (loss) per share 1.33 (0.09) Earnings before income taxes 213,736 10,220 Loss on disposal…
  9. Q4 2014 Earnings Review – Western Refining Logistics, Lp – slide 9
    Adjusted EBITDA Reconciliations Three Months Ended Year Ended December 31, December 31, 2014 2013 2014 2013 (In thousands) Net income (loss) attributable to Western 130,935 (7,328) 559,926 275,994 Net income attributed to…
  10. Q4 2014 Earnings Review – Western Refining Logistics, Lp – slide 10
    Adjusted EBITDA Reconciliations Last Twelve Months Adjusted EBITDA (In Thousands) Three Month Period Ending LTM Consolidated Western Refining, Inc. Mar 2014 June 2014 Sep 2014 Dec 2014 Dec 2014 Net income (loss) attributable to…
  11. Q4 2014 Earnings Review – Western Refining Logistics, Lp – slide 11
    Adjusted EBITDA Consolidation Last Twelve Months December 31, 2014 WNR Western NTI WNRL Consolidated (In thousands) Net income (loss) attributable to Western 436,300 88,839 34,787 559,926 Net income attributed to non-controlling…
  12. Q4 2014 Earnings Review – Western Refining Logistics, Lp – slide 12
    Adjusted EBITDA Reconciliations The tables on the previous page reconcile net income to Adjusted EBITDA for the periods presented. Adjusted EBITDA represents earnings before interest expense and other financing costs, amortization of…
  13. Q4 2014 Earnings Review – Western Refining Logistics, Lp – slide 13
    Western Standalone Crack Spread Hedge Positions and Market Pricing As of December 31, 2014 Net Positions Volume Hedged % of Planned Mark-to-Market Price 1 Offsetting (000 barrels) Production Hedged Strike Price December 31, 2014…
  14. Q4 2014 Earnings Review – Western Refining Logistics, Lp – slide 14
    Western Standalone Hedging Gain/(Loss) As of December 31, 2014 ( millions) Total Hedging Period Realized Gain/(Loss) Realized Gain / (Loss) Crack Spread Inventory/Other Q1 2014 10.6 5.8 16.4 Q2 2014 14.0 (9.9) 4.1 Q3 2014 14.0…
  15. Q4 2014 Earnings Review – Western Refining Logistics, Lp – slide 15
    Western Standalone Unrealized Hedging Gains and Losses ( millions) Balance Sheet Fair Value Income Statement Period Beg. Of Period End of Period Unrealized Gain (Loss) 2013 Q1 (47.6) (49.3) (1.7) Q2 (49.3) 10.4 59.7 Q3 10.4…
  16. Q4 2014 Earnings Review – Western Refining Logistics, Lp – slide 16

From the store

Browse maps, data & reports in the Shale Experts store