LOOP LLC

Overview Key strengths Key risks Unique competitive position as the sole offshore oil port operator for deep-draft oil tankers Small scale and limited geographic diversification Ongoing debt repayment, sufficient cash on balance sheet, and flexible distribution policy support credit metrics Backwardation in crude oil prices could adversely affect storage revenues Strategic importance to parents Shell USA Inc., Shell Pipeline Co. L.P., MPL Louisiana Holdings LLC, Marathon Petroleum Co. L.P., and Valero Terminaling and Distribution Co. Increased competition as other export facilities come online LOOP LLC (LOOP) has benefited from increased drilling in the Gulf of Mexico (GOM) and, in general, higher take-away capacity from the Permian Basin. Offsetting this somewhat are lower storage revenues as a result of backwardation in

...We expect throughput volume will be stable over the next three years. LOOP LLC (LOOP) has benefited from increased drilling in the Gulf of Mexico (GOM) and, in general, higher take-away capacity from the Permian Basin. Offsetting this somewhat are lower storage revenues as a result of backwardation in oil prices. The reversal of the Capline pipeline in 2022 has resulted in higher export volumes for LOOP. At the same time, we do not expect any additional deepwater export terminals will be completed over the next three years that will directly compete with LOOP....

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