epic midstream – company and terminal presentation · 2013. 10. 16. · epic was incorporated in...
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Epic Midstream – Company and Terminal Presentation
Epic Midstream LLC
Epic was incorporated in 2011White Deer Energy and Blue Water Energy partnered to form Epic Midstream LLC. In April 2012 Epic Midstream acquired five terminals in the SE US consisting of 65 storage tanks for a total of 1.5 million barrels of refined product storage capacity.Epic handles refined products, chemicals and fertilizers for a number of customers.
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Epic Midstream LLC
Epic Strategy Provide outstanding service and value to our customers with priority on safety and environmental compliance.Grow our existing facilities with creative, value adding projects.Grow outside our fence line with new sites both existing and requiring construction skills.
Experienced Management Team from Kinder Morgan, Vopak, Plains All American, Nustar.
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Epic Midstream Organizational Structure
Note: As platform scales, additional team members may be added.
Board of Directors
Tom Sikorski (Chairman)Joe Bob Edwards
Thomas EdelmanJerker Johansson
Blue Water Energy White Deer Energy
CEODavid Vattimo
Commercial LeadJim Miller
SalesDale Springer
Sales / BDJoe Woller
Accounting Personal
Administrative LeadDavid Fowler
HR / Benefits(Outsourced)
Information Tech(Outsourced)
Operations / Engineering LeadMike Garthwaite
EH&S / Compliance LeadLinda Ferguson
Project ManagerEnrique Chaguay
Terminal Managers (5)
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White Deer Energy Overview
Fund I
Investment History
Closed June 2010 - $822MM of committed capital Made 10 platform investments Currently 96% invested/committed
Closed Feb 2013 – $1.387B of committed capital Same investment philosophy/approach as Fund I
Fund II
Founded in 2008 by Tom Edelman and Ben Guill, White Deer Energy manages more than $2.2 billion across twoprivate equity funds that focus on investing in oil and gas exploration and production, oilfield service andequipment and the midstream sectors of the energy business. White Deer’s investment philosophy is founded onleveraging industry experience and strategic relationships to partner with talented management teams and buildsuccessful companies. White Deer has nine investment professionals and has offices in Houston and New York.
Date Investment ($MM) Fund Sector Description Status
PostRock Sep-10 $92.5 Fund I E&P Natural gas producer (Cherokee Basin) Unrealized
Fiberspar Sep-10 $66.2 Fund I OFS / Manufacturing Spoolable line pipe manufacturer Realized
O-Tex Jan-11 $62.0 Fund I OFS Cementing services Partially Realized
Crescent Feb-11 $48.4 Fund I OFS Water transfer services Unrealized
Accelerated Jan-12 $50.7 Fund I OFS / ManufacturingArtificial lift equipment
manufacturer (hydraulic lift)
Unrealized
Shores Lift Mar-12 $75.4 Fund I OFS / Manufacturing Artificial lift equipment manufacturer (rod lift) Unrealized
Sharewell Mar-12 $36.0 Fund I OFS / Manufacturing Directional drilling services Unrealized
Epic Apr-12 $19.9 Fund I Midstream Refined petroleum products terminals Unrealized
Acteon Oct-12 $75.8 Fund I OFS Subsea services Unrealized
Emerald Feb-13 $50.0 Fund I E&P Oil producer (Bakken Shale) Unrealized
Company Name
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BlueWater Energy
Partnership thesis built on alignment with management: buy-and-build strategy to support and enable management and to act as a solutions provider to strategic partners in effort to drive business growth and build value
Target commitment of $50 - $125 million per platformBuy-and-build focus: initial commitment upfront followed by bolt-on acquisitions and expansion capital as needed
BWE is the largest London-based investor dedicated exclusively to the energy space with $861 million in committed capitalTargeted focus maximising value creation strategy by partnering with European-based, mid-market management teams with a global perspective in the following sectors:
Upstream Equipment & ServicesMid- / Downstream Equipment, Services & LogisticsReserves (E&P)
BWE partners with committed teams in maximising value creation through a buy-and-build platform to create the leading energy companies in the space
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Tom Sikorski: Chairman
2010-PresentBlue Water Energy:Managing Director
2005-10First Reserve International:Managing Director
1994-2002
Windward Capital:Co-Founder/General Ptnr
1986-91The First Boston Corp:Vice President, Private Equity Group
1979-83Harvard College:B.A., EconomicsMagna Cum Laude
1979 1984 1986 1991 1994 201020052002
1984-86Stanford Graduate School of Business:MBA
1991-94Metropolitan Life:Director, Private Equity Group
2002-05First Reserve Corporation:Managing Director
Education
BA, Economics – Harvard College MBA, Stanford Graduate School of Business
Significant Accomplishments
Acquisition of BORCO terminal from PDVSA (2.2x MOIC and 34.2% IRR)
Acquisition of DOF Subsea Acquisition and subsequent listing of New World
Resources, a Czech coal asset (2.0x MOIC and 35.7% IRR)
Acquisition of Dresser (3.3x and 22.0% IRR) Acquisition and divestiture of Dresser-Rand (4.0x
and 188.5% IRR) Acquisition and divestiture of Quanta Services
(2.3x and 52.2% IRR)
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Strong Complimentary Background & Skillset of Executive Team
CEO, Epic Midstream LLC (2013)24 Years experience in midstream energy logisticsVice President Operations Kinder Morgan Terminals (2002-2011). KM Northeast, Midwest and Ohio Valley Regions - $150 mil EBITDA.Vice President Sales Kinder Morgan Terminals. All regions approx $1.7 billion in revenue.
Strong record of leadership in energy logistics industry.Lead numerous multi-million $ customer relationship across many locations and geography.Track record of managing complex multi-million capital investments.
BS Economics SUNY@Buffalo 1986MBA Illinois Institute of Technology 1992Graduate Center for Creative Leadership8
Complementary, Diverse Skillsets
David VattimoCEO
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VP-Sales and Marketing, Epic Midstream LLC (2011)19 Years experience in midstream energy logisticsSr. Director, Product Marketing, Buckeye Partners, LP (2011)Commercial Director, BORCO (2008-2011) Business Development Manager-North America, Commercial Manager-Oil, General Manager-Logistics, Vopak North America (1999-2008)Sales and Marketing-Mission Petroleum Carriers (1993-1999) Transportation and Logistics
Strong relationships with origination, supply and trading of global physical commodity traders and major U.S. oil companiesProven track record generating increased throughput and customer longevity/loyalty at third-party bulk terminal companies.
BS, Psychology, The University of Texas at Austin (1993)Management Studies Programs, Erasmus University-Rotterdam
Jim MillerSr. Vice President, Sales and Marketing
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Epic Midstream Terminals
Terminal Locations: Savannah, GABremen, GAMacon, GAMontgomery, ALMoundville, AL
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Epic Midstream TerminalsSavannah, GA Bremen, GA Macon, GA Montgomery, AL Moundville, AL
Product Caustic soda, distillates,
gasoline, lube oils
ULSD, jet fuels, jet fuel additives
Jet fuels, jet fuel additives, #2 fuel oil and transmix
ULSD, jet fuels and jet fuel additives
Jet fuels and jet fuel additives
Tanks 27 11 14 7 6
Capacity (Active)
862,197 (862,197)
181,000 (168,500)
308,247 (146,247)
162,000 (162,000)
310,000 (170,000)
Modes Served
Ship, barge, truck, rail (CSX)
Truck, pipeline (Plantation)
Truck, pipeline (Plantation)
Truck, pipeline (Plantation)
Truck, pipeline (Plantation)
Truck Facilities
Two key stop loading positions; four supervised
loading positions; two automated
loading positions
Two-bay loading rack – bottom loading with
vapour combustor
Two-bay loading rack – manual bottom loading
with vapour combustor
One two-bay loading rack –manual loading
with vapour combustor
Two-bay loading rack – manual bottom loading without vapour
combustor
Dock Facilities
Savannah River mile post 11.8;
two berths (Draft: 25ft, 38ft; LOA:
675ft, 900ft)
NA NA NA NA
The NuStar Facilities comprise a series of assets strategically located in Alabama and Georgia and provide advantaged access to the important U.S. Southeast storage market
Strategic combination of four jet fuel terminals with water-based Savannah terminal
Combined assets offer 65 tanks and over 1.5 million barrels of active storage (over 1.8 million of shell capacity)
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Savannah, GA Terminal
Terminal Parameters: Total Storage: Number of Tanks: Commodities Handled: Number of Ship Docks: Size:
870,806 Barrels 27 Tanks Caustic Soda, Distillates, Gasoline, Lube Oil, Biodiesel, Ethanol 1 Dock (38 feet draft) 24 Acres (10 Acres West Terminal & 14 Acres East Terminal)
Transportation Modes: Rail line: Body of Water:
Golden Isles Short Line (access to NS and CSX) Savannah River (Atlantic)
Savannah, GA Terminal Terminal Services: Vessel Loading/ Unloading Barge Loading / Unloading Tank Car Loading / Unloading Tank Truck Loading / Unloading Tank Truck Weighing Product Blending
Product Heating Vapor / Incineration Additive Handling / Injection Automated Truck Rack Additional Service Available
Terminal Address: 2 Wahlstrom Road Savannah, GA 31404 Terminal Hours of Operation: West Terminal: Truck Loading 0700–1500 Monday – Friday East Terminal: Truck Loading 24 hours 7 days a week
Terminal Manager: Terry Ennis 912-236-1579
Bremen, GA Terminal Savannah Expansion Projects: Project 1 (12-15 Month Build): New Tank Build
• 2 New Tanks will be build in the East Tank Field o Tank 1 - 25,000 barrels o Tank 2 - 75,000 barrels
• Potential access to the Automated Truck Rack • Potential access to the two Vessel Docks • Potential access to the new Golden Isles Short Line Rail
Project 2 (In Service November 1, 2013): Golden Isles Short Line (access to NS and CSX) Rail Connection
• Load and Unload Railcars • 10 Rail Cars Spots
Bremen, GA Terminal
Bremen, GA Terminal
Terminal Parameters: Total Storage: Number of Tanks: Commodities Handled: Size:
170,400 barrels 9 Tanks ULSD, Jet Fuels, and Jet Fuel Additives 10 Acres
Transportation Services: Pipeline Inbound: Roadway:
1 (Plantation) I-20
Terminal Services: Pipeline Receipts Tank Truck Loading / Unloading Product Blending Vapor Recovery / Incineration
Additive Handling / Injection Laboratory Testing Additional Service Available
Bremen, GA Terminal Terminal Address: 870 Alabama Ave. Bremen, GA 30110 Hours of Operation: 0800-1600 Monday - Friday
Terminal Manager: Michael Burnett 770-537-4437
Macon, GA Terminal
Macon, GA Terminal
Terminal Parameters: Total Storage: Number of Tanks: Commodities Handled: Size:
308,439 barrels 16 Tanks Jet Fuels, Jet Fuel Additives, #2 Fuel Oil, Transmix, Ethanol, Caustic, White liquor, Green liquor and Fertilizer 10 Acres and have an off-site parcel of 79.4 Acres
Transportation Modes: Pipeline Inbound: Pipeline Outbound: Roadway: Rail Line:
1 (Plantation) 2 (Robins air force base & NSF Pipeline) Highway 247 Potential NS connection
Terminal Services: Pipeline Receipts / Injection Tank Truck Loading / Unloading Vapor Recovery / Incineration
Additive Handling / Injection Laboratory Testing Additional Service Available
Macon, GA Terminal Terminal Address: 6225 Hawkinsville Road Macon, GA 31216 Hours of Operation: 0800 – 1600 Monday – Friday
Terminal Manager: Eddie Nobles 478-788-1877
Montgomery, AL Terminal
Montgomery, AL Terminal
Terminal Parameters: Total Storage: Number of Tanks: Commodities Handled: Size:
162,000 Barrels 7 Tanks Premium No Lead, Regular No Lead, ULSD, Jet Fuel and Jet Fuel Additives. 15 Acres
Transportation ModesPipeline Inbound: Roadway:
1 (Plantation) Birmingham Highway
Terminal Services: Tank Truck Loading / Unloading Product Blending Vapor / Incineration Pipeline Receipts
Laboratory Testing Additive Handling / Injection Additional Service Available
Montgomery, AL Terminal Terminal Address: 520 Hunter Loop Road Montgomery, AL 36108 Terminal Hours of Operation: 0500 – 1600 Monday – Friday
Pipeline Hours of Operations 24 hours a day and 7 day a week Terminal Manager: Jon Stubbs 334-269-2972
Moundville, AL Terminal
Moundville, AL Terminal
Terminal Parameters: Total Storage: Number of Tanks: Commodities Handled: Size:
310,00 barrels 6 Tanks Jet Fuel, and Jet Fuel Additives 40 Acres
Transportation Services: Pipeline Inbound: Roadway: Rail Line:
1 (Plantation) Highway 69 (15 miles South of Tuscaloosa) Possible NS Access
Terminal Services: Pipeline Receipts Tank Truck Loading / Unloading Additive Handling / Injection
Laboratory Testing Additional Service Available
Moundville, AL Terminal Terminal Address: 872 2nd Ave. Moundville, AL 35474 Hours of Operation: 0600-1600 Monday - Friday
Terminal Manager: David Tidmore 205-371-2250