September 30, 2014 2:32 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Northern Tier Energy LP

Company Overview

Northern Tier Energy LP, an independent downstream energy company, is engaged in refining, retail, and pipeline operations in the United States. It operates through two segments, Refining and Retail. The Refining segment offers refined products, including gasoline, diesel, jet fuel, and asphalt to resellers and consumers primarily in the Petroleum Administration for Defense District II region. This segment also owns various storage and transportation assets, such as light products terminal, heavy products terminal, storage tanks, rail loading/unloading facilities, the Aranco and Cottage Grove pipelines, and Mississippi river dock, as well as owns a Minnesota Pipeline, a 455,000 barrel per da...

38C Grove Street

Suite 100

Ridgefield, CT 06877

United States

Founded in 2010

2,896 Employees

Phone:

203-244-6550

Fax:

203-431-7672

Key Executives for Northern Tier Energy LP

Chief Financial Officer of Northern Tier Energy GP LLC and Executive Vice President of Northern Tier Energy GP LLC
Age: 44
Total Annual Compensation: $630.6K
Compensation as of Fiscal Year 2013.

Northern Tier Energy LP Key Developments

Northern Tier Energy LP Announces Offering of Senior Secured Notes

Northern Tier Energy LP announced that Northern Tier Energy LLC, which is a wholly owned subsidiary of Northern Tier, and NTE's wholly owned subsidiary Northern Tier Finance Corporation intend to commence a private placement to eligible purchasers of an additional $75 million in aggregate principal amount of their 7.125% senior secured notes due 2020. Northern Tier intends to use the net proceeds of the Offering for general partnership purposes, including the purchase of crude oil inventories. The Notes have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and unless so registered, the Notes may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes are expected to be eligible for trading by qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. This announcement is being issued pursuant to Rule 135c under the Securities Act and shall not constitute an offer to sell or the solicitation of an offer to buy the Notes.

Northern Tier Energy LP Presents at Barclays CEO Energy-Power Conference, Sep-03-2014 03:05 PM

Northern Tier Energy LP Presents at Barclays CEO Energy-Power Conference, Sep-03-2014 03:05 PM. Venue: The Sheraton NY Hotel & Towers, 811 Seventh Ave, New York City, NY 10019, United States.

Northern Tier Energy LP Declares Quarterly Distribution, Payable on August 29, 2014; Reports Unaudited Consolidated Operating and Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Production Guidance for the Third Quarter of 2014; Provides Capital Expenditure Guidance for the Third Quarter and Full Year of 2014

Effective August 5, 2014, the board of directors of Northern Tier Energy LP's general partner declared a quarterly distribution of $0.53 per unit to be paid in cash on August 29, 2014 to common unit holders of record as of the close of business on August 18, 2014. The company reported unaudited consolidated operating and earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net income of $57.9 million compared $63.9 million a year ago. Revenue was $1,602.5 million against $1,131.2 million a year ago. Operating income was $65.6 million against $52.6 million a year ago. Income before income taxes was $59.4 million against $66.9 million a year ago. Net earnings per common unit, basic and diluted were $0.62 compared to $0.70 for the same period last year. Adjusted EBITDA was $82.1 million compared to $90.9 million a year ago. Adjusted net income was $61.4 million compared $64.4 million a year ago. This decrease in Adjusted EBITDA in the second quarter of 2014 was primarily the result of lower refined product margins partially offset by increased throughput. Capital expenditures were $10.1 million. For the six months, the company reported net income of $129.4 million compared $183.3 million a year ago. Revenue was $2,948.8 million against $2,246.2 million a year ago. Operating income was $143.4 million against $184.8 million a year ago. Income before income taxes was $131.0 million against $186.2 million a year ago. Net earnings per common unit, basic and diluted were $1.40 compared to $1.99 for the same period last year. Net cash provided by operating activities was $154.3 million against net cash provided by operating activities of $124.1 million a year ago. Adjusted EBITDA was $184.7 million compared to $247.8 million a year ago. Adjusted net income was $142.3 million compared $184.2 million a year ago. For the quarter, the company reported total throughput of 93,022 barrels per day compared to 55,486 barrels per day for the comparable period in 2013. The increase in throughput was primarily due to major turnaround and expansion activities during the second quarter of 2013. For the six months, the company reported total throughput of 92,826 barrels per day compared to 70,343 barrels per day for the comparable period in 2013. For the third quarter of 2014, the company projects it will realize total throughput of between 90,000 and 95,000 barrels per day at its Saint Paul Park refinery. Total capital expenditures for the third quarter of 2014 are expected to be approximately $10 million For the full year of 2014, the company projects capital expenditures to be approximately $36 million.

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