NuStar Energy Investor Conference Presentation Deck
NuStar
PERMIAN CRUDE PIPELINE SYSTEM
Our "Core of the Core" Location has Attracted Top-Tier Customers
With Large DUC Inventories to Support Continued Recovery in 2021
★ The quality of geological formations underlying our system attracts the strongest customers
Our creditworthy customers include majors and the most prolific E&Ps, both private and public, in the
basin, as well as large independent refiners and marketers
☐ ~75% of our system's revenue is generated from investment-grade (IG) rated and Non-IG BB-rated
entities¹
Highest-Quality
"Rock"
...And Produce
Efficient
Growth Across
Cycles
Attracts
Creditworthy,
Diverse
Producers
...That Apply
the Most
Advanced
Technology
We are currently running ~450 MBPD and we now
expect to exit 2021 ~500 MBPD
NS System Producer-type²
(% Average Daily Volume)
22%
40%
38%
(by Quarter)
Adjusted
*
NS Permian Crude System
Performance
Major
Private
■ Other
Public
1391591
Our producers have averaged around 25 rigs in the
last three months and have over 25% of the total
Permian drilled-uncompleted (DUCs) wells on the
system, which provide an important platform for
growth
1 - March 31, 2021 YTD
2 March 31, 2021 MTD
3- As of May 12, 2021
Please see Appendix for reconciliations of non-GAAP financial measures to their most directly comparable GAAP measures
›187211.
2Q17
3Q17
4Q17
1Q18
266
$12$14$12
$19
8107
314 327349
$27 $27
$23
EBITDA ($MM)
Producer Average
Cost of Debt,
370
395435 453
Weighted by
Acreage:
3
4.0%³
$31
$35 $39 $38
423
400 418
$33
402
$38 $37
$33
3Q18
4Q18
1Q19
2Q19
3Q19
4Q19
1Q20
2Q20*
3Q20
4Q20
1Q21
-System Receipts (Avg MBPD)
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