Pbf Energy Inc. · NYSE:PBF
Pbf Energy — Credit Suisse Energy Summit 2016
17 slides from Pbf Energy's conference presentation, Feb 23, 2016
Slide 1: PBF Energy Inc. Credit Suisse Energy Summit February 2016
PBF Energy Inc. (NYSE: PBF) Credit Suisse Energy Summit February 2016
Slide 2: Safe Harbor Statements
2 Safe Harbor Statements This presentation contains forward-looking statements made by PBF Energy Inc. (“PBF Energy”), the indirect parent of PBF Logistics LP (“PBFX” and together with PBF Energy, the “Companies”, or “PBF”), and their management teams. Such statements are based on current expectatio
Slide 3: PBF Energy Company Profile
3 PBF Energy Company Profile Fourth largest independent refiner in United States(1) BB / Ba3 credit ratings – upgraded by S&P in Q4-15 Currently operates four oil refineries in Ohio, Delaware, New Jersey and Louisiana, and has entered into an agreement to acquire an additional refinery in Cali
Slide 4: Fourth largest independent refiner with significantly enhanced asset base
4 Fourth largest independent refiner with significantly enhanced asset base 884,000 bpd of crude oil capacity across five refineries¹ Recent acquisition of Chalmette and pending Torrance acquisition demonstrate disciplined growth while maintaining strong balance sheet Geographic diversity wi
Slide 5: PBF's Growing Industry Position
5 PBF’s Growing Industry Position 2,177 2,033 1,731 884 850 441 217 185 153 140 90 VLO PSX MPC PBF TSO HFC ALJ CVI WNR DK NTI Total Throughput Capacity (kbpd) (1) Weighted Average Nelson Complexity: 12.4 11.0 11.7 12.2 10.2 12.1 11.5 9.5 9.5 8.5 11.5 High-quality, diversified asset base Second m
Slide 6: Attractive Purchase Price of Recent Acquisitions
6 Attractive Purchase Price of Recent Acquisitions(1) $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 R e fi n e ry Co st , $ /Com p le x it y -B a rr e l Denotes PBF Refinery ___________________________ 1. Includes the Torrance Acquisition, which is expected to close Q2-16.
Slide 7: Chalmette Refinery – PADD 3
7 189,000 bpd high-complexity, high-conversion refinery Crude Supply Agreement with PDVSA Product off-take agreements with Exxon Mobil and other first-class counterparties 12.7 Nelson Complexity Refined products include gasoline, diesel (ULSD), heating oil, LPG’s, petrochemicals and petrol
Slide 8: Torrance Acquisition Highlights – PADD 5
8 Torrance Acquisition Highlights – PADD 5 $537.5 million purchase price for Torrance Refinery and associated logistics assets Assets to be acquired include 155,000 bpd high-complexity Torrance Refinery, multiple crude and product pipelines, two product terminals, and crude oil and product stora
Slide 9: Crude cost advantages and shifting Atlantic Basin refining dynamics
9 Crude cost advantages for complex, medium and heavy, sour refineries like Delaware City, Paulsboro and Chalmette translate to increased profitability Coking refineries, such as PBF’s three coastal refineries, have the flexibility to run a wide variety of crudes and can realize improved margins
Slide 10: Strong Balance Sheet
10 $120 $1,599 $0 $500 $1,000 $1,500 $2,000 Q4 2011 Q4 2015 Strong Balance Sheet Available Liquidity ($mm) PBF maintains a strong balance sheet with significant liquidity Ability to withstand commodity price fluctuations Positioned for growth through disciplined execution of strategic acquisit
Slide 11: PBFX is a Strategic and Valuable Partner to PBF
11 PBFX is a Strategic and Valuable Partner to PBF Stable cash flows supported by long-term, take-or-pay Minimum Volume Commitments No direct commodity exposure Hard asset base consisting of crude and product storage, pipelines, and distribution and unloading facilities Vehicle allows PBF to
Slide 12: Appendix
1 2 Appendix
Slide 13: PBF Energy 2016 Guidance
13 PBF Energy 2016 Guidance Guidance provided constitutes forward-looking information and is based on current PBF Energy operating plans, company assumptions and company configuration. All figures are subject to change based on market and macroeconomic factors, as well as company strategic decision-
Slide 14: Toledo Refinery – PADD 2
14 170,000 bpd light, sweet crude refinery located on a 282- acre site near Toledo, Ohio 9.2 Nelson Complexity Refined products include a high percentage of gasoline and diesel (USLD) High-conversion refinery; ~88% distillate and gasoline yield High-value petrochemical slate ~5% of total y
Slide 15: Delaware City Refinery – PADD 1
15 190,000 bpd refinery situated on a 5,000-acre site adjacent to the Delaware River 11.3 Nelson Complexity Refined products include gasoline, diesel (ULSD), heating oil, jet fuel, LPG’s, petrochemicals and petroleum coke Connected to major Northeast pipeline systems (Buckeye and Colonial)
Slide 16: Paulsboro Refinery – PADD 1
16 180,000 bpd refinery located on 950 acres adjacent to the Delaware River Complex refinery; 13.2 Nelson Complexity Refined products include gasoline, jet fuel and heating oil, asphalt, as well as Group I lubricating oil Group I lubricant production of ~7,000 bpd; lubes and light products c
Slide 17: PBFX 2016 Guidance
17 PBFX 2016 Guidance Guidance provided constitutes forward-looking information and is based on current PBF Logistics operating plans, assumptions and configuration. All figures are subject to change based on market and macroeconomic factors, as well as management’s strategic decision-making and ove