0001552797false00015527972024-08-062024-08-06

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
August 6, 2024
Date of Report (Date of earliest event reported)
DELEK LOGISTICS PARTNERS, LP
(Exact name of registrant as specified in its charter)
Delaware
001-35721
45-5379027
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
globea19.jpg
310 Seven Springs Way, Suite 500
Brentwood Tennessee
37027
(Address of Principal Executive)
(Zip Code)
(615) 771-6701
(Registrant’s telephone number, including area code)
Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Units Representing Limited Partner InterestsDKLNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    
☐


Item 2.02 Results of Operations and Financial Condition

On August 6, 2024, Delek Logistics Partners, LP (the “Partnership”) announced its financial results for the quarter ended June 30, 2024. The full text of the press release is furnished as Exhibit 99.1 hereto.
 
The information in the attached Exhibit is being furnished pursuant to Item 2.02 “Results of Operations and Financial Condition” on Form 8-K. The information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, each as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01     Financial Statements and Exhibits.    

(d)Exhibits.
104Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.





SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Date: August 6, 2024
DELEK LOGISTICS PARTNERS, LP
By: Delek Logistics GP, LLC
its General Partner
/s/ Reuven Spiegel
Name: Reuven Spiegel
Title: Executive Vice President and Chief Financial Officer
         (Principal Financial Officer) 


Exhibit 99.1
globea20.jpg

Delek Logistics Reports Record Second Quarter 2024 Results

•Net income attributable to all partners of $41.1 million
•Quarterly EBITDA of $102.4 million
•Distributable cash flow of $67.8 million, DCF coverage ratio of 1.32x
•Following the end of the 2nd quarter we have made following strategic moves:
•Announced the acquisition of H2O Midstream for $230 million. It increases Delek Logistics' capabilities to continue to provide full suite of services to Delek Logistics' Permian customers
•Announced the acquisition of Delek US' interest in the Wink to Webster pipeline
•Amended and extended agreements with Delek US for a period of up to seven years
•Announced the final investment decision (FID) on a new gas processing plant adjacent to the existing Delaware plant
•Improved leverage ratio to 3.81x from 4.34x at year-end 2023
•Delivered distribution growth with recent increase to 1.090/unit

BRENTWOOD, Tenn., August 6, 2024 -- Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") today announced its financial results for the second quarter 2024, with reported net income attributable to all partners of $41.1 million, or $0.87 per diluted common limited partner unit. This compares to net income attributable to all partners of $31.9 million, or $0.73 per diluted common limited partner unit, in the second quarter 2023. Net cash provided in operating activities was $87.6 million in the second quarter 2024 compared to $34.6 million in the second quarter 2023. Distributable cash flow was $67.8 million in the second quarter 2024, compared to $60.5 million in the second quarter 2023.
For the second quarter 2024, earnings before interest, taxes, depreciation and amortization ("EBITDA") was $102.4 million compared to $92.8 million in the second quarter 2023.
“Delek Logistics made several strategic announcements today: (i) Delek Logistics & Delek US amended and extended certain contracts for a duration of up to seven years, (ii) The FID (final investment decision) on a new gas processing plant, (iii) Acquisition of H2O Midstream and (iv) Acquisition of Delek US' interest in the Wink to Webster pipeline. These strategic actions position Delek Logistics as a premier, full-service, midstream provider in the prolific Permian Basin,” said Avigal Soreq, President of Delek Logistics' general partner.
"These actions also move Delek Logistics toward becoming an independent, largely third-party cash flow company with a strong growth profile and extremely competitive distribution yield," Mr. Soreq continued.
“In July, the Board continued its commitment to return value to unitholders and approved the 46th consecutive increase in the quarterly distribution to $1.090 per unit," Mr. Soreq concluded.
For the H2O Midstream, transaction, Bank of America Securities, Inc. was the exclusive financial advisor and Baker Botts L.L.P. was the legal advisor to Delek Logistics.
For the intercompany transactions, Intrepid Partners, LLC was the exclusive financial advisor and Gibson, Dunn & Crutcher LLP was the legal advisor to the Conflicts Committee of Delek Logistics.
Distribution and Liquidity
On July 30, 2024, Delek Logistics declared a quarterly cash distribution of $1.090 per common limited partner unit for the second quarter 2024. This distribution will be paid on August 14, 2024 to unitholders of record on August 9, 2024. This represents a 1.9% increase from the first quarter 2024 distribution of $1.070 per common limited partner unit, and a 5.3% increase over Delek Logistics’ second quarter 2023 distribution of $1.035 per common limited partner unit. For the second quarter 2024, the total cash distribution declared to all partners was approximately $51.5 million, resulting in a distributable cash flow ("DCF") coverage ratio of 1.32x.
As of June 30, 2024, Delek Logistics had total debt of approximately $1.57 billion and cash of $5.1 million. Additional borrowing capacity, subject to certain covenants, under the $1.15 billion third party revolving credit facility was $819.8 million. The total leverage ratio as of June 30, 2024 of approximately 3.81x was within the requirements of the maximum allowable leverage ratio under the credit facility.
Consolidated Operating Results
Second quarter 2024, EBITDA was $102.4 million compared with $92.8 million in the second quarter 2023. The $9.6 million increase reflects higher contributions from the Delaware Gathering systems, terminalling and marketing rate increases, as well as continued strong throughput on joint venture pipelines.
1 |

Gathering and Processing Segment
EBITDA in the second quarter 2024 was $54.7 million compared with $52.7 million in the second quarter 2023. The increase was primarily due to higher throughput from Permian Basin assets.
Wholesale Marketing and Terminalling Segment
EBITDA in the second quarter 2024 was $30.2 million, compared with second quarter 2023 EBITDA of $28.0 million. The increase was primarily due to higher terminalling utilization.
Storage and Transportation Segment
EBITDA in the second quarter 2024 was $16.8 million, compared with $15.0 million in the second quarter 2023. The increase was primarily due to increased storage and transportation rates.
Investments in Pipeline Joint Ventures Segment
During the second quarter 2024, income from equity method investments was $7.9 million compared to $7.3 million in the second quarter 2023.
Corporate
EBITDA in the second quarter 2024 was a loss of $7.1 million compared to a loss of $10.1 million in the second quarter 2023.
Second Quarter 2024 Results | Conference Call Information
Delek Logistics will hold a conference call to discuss its second quarter 2024 results on Tuesday, August 6, 2024 at 12:30 p.m. Central Time. Investors will have the opportunity to listen to the conference call live by going to www.DelekLogistics.com. Participants are encouraged to register at least 15 minutes early to download and install any necessary software. An archived version of the replay will also be available at www.DelekLogistics.com for 90 days.
About Delek Logistics Partners, LP
Delek Logistics is a midstream energy master limited partnership headquartered in Brentwood, Tennessee. Through its owned assets and joint ventures located primarily in and around the Permian Basin, the Delaware Basin and other select areas in the Gulf Coast region, Delek Logistics provides gathering, pipeline and other transportation services primarily for crude oil and natural gas customers, storage, wholesale marketing and terminalling services primarily for intermediate and refined product customers, and water disposal and recycling services. Delek US Holdings, Inc. ("Delek US") owns the general partner interest as well as a majority limited partner interest in Delek Logistics, and is also a significant customer.
Safe Harbor Provisions Regarding Forward-Looking Statements
This press release contains forward-looking statements that are based upon current expectations and involve a number of risks and uncertainties. Statements concerning current estimates, expectations and projections about future results, performance, prospects, opportunities, plans, actions and events and other statements, concerns, or matters that are not historical facts are “forward-looking statements,” as that term is defined under the federal securities laws. These statements contain words such as “possible,” “believe,” “should,” “could,” “would,” “predict,” “plan,” “estimate,” “intend,” “may,” “anticipate,” “will,” “if,” “expect” or similar expressions, as well as statements in the future tense, and can be impacted by numerous factors, including the fact that a significant portion of Delek Logistics' revenue is derived from Delek US, thereby subjecting us to Delek US' business risks; risks relating to the securities markets generally; risks and costs relating to the age and operational hazards of our assets including, without limitation, costs, penalties, regulatory or legal actions and other effects related to releases, spills and other hazards inherent in transporting and storing crude oil and intermediate and finished petroleum products; the impact of adverse market conditions affecting the utilization of Delek Logistics' assets and business performance, including margins generated by its wholesale fuel business; risks and uncertainties with respect to the timing for closing and the possible benefits of the H2O Midstream transaction, as well as from integration post-closing; risks and uncertainties related to the integration of the 3 Bear business; uncertainties regarding future decisions by OPEC regarding production and pricing disputes between OPEC members and Russia; an inability of Delek US to grow as expected as it relates to our potential future growth opportunities, including dropdowns, and other potential benefits; projected capital expenditures, scheduled turnaround activity; the results of our investments in joint ventures; adverse changes in laws including with respect to tax and regulatory matters; and other risks as disclosed in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other reports and filings with the United States Securities and Exchange Commission. Forward-looking statements include, but are not limited to, statements regarding future growth at Delek Logistics; distributions and the amounts and timing thereof; potential dropdown inventory; projected benefits of the Delaware Gathering acquisition; expected earnings or returns from joint ventures or other acquisitions; expansion projects; ability to create long-term value for our unit holders; financial flexibility and borrowing capacity; and distribution growth. Forward-looking statements should not be read as a guarantee of future performance or results and will not be accurate indications of the times at, or by, which such performance or results will be achieved.  Forward-looking information is based on information available at the time and/or management's good faith belief with respect to future events, and is subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements.  Delek Logistics undertakes no obligation to update or revise any such forward-looking statements to reflect events or circumstances that occur, or which Delek Logistics becomes aware of, after the date hereof, except as required by applicable law or regulation.
2 |

Non-GAAP Disclosures:
Our management uses certain "non-GAAP" operational measures to evaluate our operating segment performance and non-GAAP financial measures to evaluate past performance and prospects for the future to supplement our GAAP financial information presented in accordance with U.S. GAAP. These financial and operational non-GAAP measures are important factors in assessing our operating results and profitability and include:
•Earnings before interest, taxes, depreciation and amortization ("EBITDA") - calculated as net income before net interest expense, income tax expense, depreciation and amortization expense, including amortization of customer contract intangible assets, which is included as a component of net revenues in our accompanying consolidated statements of income.
•Distributable cash flow - calculated as net cash flow from operating activities plus or minus changes in assets and liabilities, less maintenance capital expenditures net of reimbursements and other adjustments not expected to settle in cash. Delek Logistics believes this is an appropriate reflection of a liquidity measure by which users of its financial statements can assess its ability to generate cash.
Our EBITDA and distributable cash flow measures are non GAAP supplemental financial measures that management and external users of our consolidated financial statements, such as industry analysts, investors, lenders and rating agencies, may use to assess:    
•Delek Logistics' operating performance as compared to other publicly traded partnerships in the midstream energy industry, without regard to historical cost basis or, in the case of EBITDA, financing methods;
•the ability of our assets to generate sufficient cash flow to make distributions to our unitholders on a current and on-going basis;
•Delek Logistics' ability to incur and service debt and fund capital expenditures; and
•the viability of acquisitions and other capital expenditure projects and the returns on investment of various investment opportunities.
We believe that the presentation of EBITDA and distributable cash flow measures provide information useful to investors in assessing our financial condition and results of operations and assists in evaluating our ongoing operating performance for current and comparative periods. EBITDA and distributable cash flow should not be considered alternatives to net income, operating income, cash flow from operating activities or any other measure of financial performance or liquidity presented in accordance with U.S. GAAP. EBITDA and distributable cash flow have important limitations as analytical tools because they exclude some, but not all, items that affect net income and net cash provided by operating activities. Additionally, because EBITDA and distributable cash flow may be defined differently by other partnerships in our industry, our definitions of EBITDA and distributable cash flow may not be comparable to similarly titled measures of other partnerships, thereby diminishing their utility. For a reconciliation of EBITDA and distributable cash flow to their most directly comparable financial measures calculated and presented in accordance with U.S. GAAP, please refer to "Results of Operations" below. See the accompanying tables in this earnings release for a reconciliation of these non-GAAP measures to the most directly comparable GAAP measures.



3 |


Delek Logistics Partners, LP
Consolidated Balance Sheets (Unaudited)
(In thousands, except unit data)
June 30, 2024December 31, 2023
ASSETS
Current assets:
Cash and cash equivalents$5,111 $3,755 
   Accounts receivable48,968 41,131 
Accounts receivable from related parties39,584 28,443 
Inventory1,756 2,264 
Other current assets1,150 676 
Total current assets96,569 76,269 
Property, plant and equipment:  
Property, plant and equipment1,343,356 1,320,510 
Less: accumulated depreciation(424,283)(384,359)
Property, plant and equipment, net919,073 936,151 
Equity method investments 235,911 241,337 
Customer relationship intangible, net172,285 181,336 
Marketing contract intangible, net98,550 102,155 
Rights-of-way, net60,416 59,536 
Goodwill12,203 12,203 
Operating lease right-of-use assets16,574 19,043 
Other non-current assets11,721 14,216 
Total assets$1,623,302 $1,642,246 
LIABILITIES AND DEFICIT  
Current liabilities:  
Accounts payable$26,236 $26,290 
Current portion of long-term debt— 30,000 
Interest payable25,557 5,805 
Excise and other taxes payable8,407 10,321 
Current portion of operating lease liabilities6,034 6,697 
Accrued expenses and other current liabilities3,794 11,477 
Total current liabilities70,028 90,590 
Non-current liabilities:
Long-term debt, net of current portion1,566,346 1,673,789 
Operating lease liabilities, net of current portion6,656 8,335 
Asset retirement obligations10,411 10,038 
Other non-current liabilities21,168 21,363 
Total non-current liabilities1,604,581 1,713,525 
Total liabilities1,674,609 1,804,115 
Equity (Deficit):
Common unitholders - public; 12,918,673 units issued and outstanding at June 30, 2024 (9,299,763 at December 31, 2023)287,195 160,402 
Common unitholders - Delek Holdings; 34,311,278 units issued and outstanding at June 30, 2024 (34,311,278 at December 31, 2023)(338,502)(322,271)
Total deficit(51,307)(161,869)
Total liabilities and deficit $1,623,302 $1,642,246 
4 |

Delek Logistics Partners, LP
Consolidated Statement of Income and Comprehensive Income (Unaudited)
(In thousands, except unit and per unit data)
Three Months Ended June 30,Six Months Ended June 30,
 2024202320242023
Net revenues:
Affiliate$156,828 $132,993 $296,453 $257,992 
Third-party107,800 113,918 220,250 232,444 
Net revenues264,628 246,911 516,703 490,436 
Cost of sales:
Cost of materials and other - affiliate103,065 92,042 195,947 183,113 
Cost of materials and other - third party34,995 36,083 65,805 71,108 
Operating expenses (excluding depreciation and amortization presented below)29,454 28,476 61,149 52,691 
Depreciation and amortization22,746 22,469 47,913 42,233 
Total cost of sales190,260 179,070 370,814 349,145 
Operating expenses related to wholesale business (excluding depreciation and amortization presented below)174 480 395 1,005 
General and administrative expenses6,016 6,611 10,879 14,121 
Depreciation and amortization1,461 1,258 2,789 2,599 
Other operating income, net(1,744)(455)(1,177)(313)
Total operating costs and expenses196,167 186,964 383,700 366,557 
Operating income68,461 59,947 133,003 123,879 
Interest expense, net35,268 35,099 75,497 67,680 
Income from equity method investments (7,882)(7,285)(16,372)(13,601)
Other income, net(40)(19)(211)(21)
Total non-operating expenses, net27,346 27,795 58,914 54,058 
Income before income tax expense41,115 32,152 74,089 69,821 
Income tax expense57 256 383 558 
Net income attributable to partners$41,058 $31,896 $73,706 $69,263 
Comprehensive income attributable to partners$41,058 $31,896 $73,706 $69,263 
Net income per limited partner unit:
Basic$0.87 $0.73 $1.61 $1.59 
Diluted$0.87 $0.73 $1.61 $1.59 
Weighted average limited partner units outstanding:
Basic47,219,184 43,577,428 45,812,770 43,573,716 
Diluted47,232,507 43,597,282 45,829,522 43,591,726 
Cash distribution per common limited partner unit$1.090 $1.035 $2.160 $2.060 
Delek Logistics Partners, LP
Condensed Consolidated Statements of Cash Flows (In thousands)Three Months Ended June 30,Six Months Ended June 30,
(Unaudited) 2024202320242023
Cash flows from operating activities
Net cash provided by operating activities$87,639 $34,612 $131,497 $63,802 
Cash flows from investing activities
Net cash used in investing activities(5,560)(27,914)(15,421)(54,893)
Cash flows from financing activities
Net cash used in financing activities(86,640)(9,947)(114,720)(9,164)
Net increase (decrease) in cash and cash equivalents(4,561)(3,249)1,356 (255)
Cash and cash equivalents at the beginning of the period9,672 10,964 3,755 7,970 
Cash and cash equivalents at the end of the period$5,111 $7,715 $5,111 $7,715 
5 |

Delek Logistics Partners, LP
Reconciliation of Amounts Reported Under U.S. GAAP (Unaudited)
(In thousands)
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Reconciliation of Net Income to EBITDA:
Net income$41,058 $31,896 $73,706 $69,263 
Add:
Income tax expense57 256 383 558 
Depreciation and amortization24,207 23,727 50,702 44,832 
Amortization of marketing contract intangible1,802 1,802 3,605 3,605 
Interest expense, net35,268 35,099 75,497 67,680 
EBITDA$102,392 $92,780 $203,893 $185,938 
Reconciliation of net cash from operating activities to distributable cash flow:
Net cash provided by operating activities$87,639 $34,612 $131,497 $63,802 
Changes in assets and liabilities(24,305)27,259 1,482 64,929 
Non-cash lease expense38 (2,247)(1,901)(4,447)
Distributions from equity method investments in investing activities 540 — 2,673 1,440 
Regulatory and sustaining capital expenditures not distributable(3,007)391 (4,286)(3,855)
Reimbursement from Delek Holdings for capital expenditures(4)674 282 1,011 
Accretion of asset retirement obligations(186)(176)(373)(352)
Deferred income taxes(103)(518)(204)(629)
Gain on disposal of assets7,197 455 6,630 313 
Distributable Cash Flow $67,809 $60,450 $135,800 $122,212 
Delek Logistics Partners, LP
Distributable Coverage Ratio Calculation (Unaudited)
(In thousands)
 Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Distributions to partners of Delek Logistics, LP$51,481 $45,112 $101,995 $89,776 
Distributable cash flow$67,809 $60,450 $135,800 $122,212 
Distributable cash flow coverage ratio (1)
1.32x1.34x1.33x1.36x
(1) Distributable cash flow coverage ratio is calculated by dividing distributable cash flow by distributions to be paid in each respective period.










6 |

Delek Logistics Partners, LP
Segment Data (Unaudited)
(In thousands)

Three Months Ended June 30, 2024
Gathering and ProcessingWholesale Marketing and TerminallingStorage and TransportationInvestments in Pipeline Joint VenturesCorporate and OtherConsolidated
Net revenues:
Affiliate$51,529 $70,899 $34,400 $— $— $156,828 
Third party41,114 64,701 1,985 — — 107,800 
Total revenue$92,643 $135,600 $36,385 $— $— $264,628 
Segment EBITDA$54,680 $30,205 $16,752 $7,882 $(7,127)$102,392 
Depreciation and amortization19,062 1,635 2,522 — 988 24,207 
Amortization of customer contract intangible— 1,802 — — — 1,802 
Interest expense, net— — — — 35,268 35,268 
Income tax expense57 
Net income$41,058 
Capital spending$7,351 $105 $2,731 $— $— $10,187 

Three Months Ended June 30, 2023
Gathering and ProcessingWholesale Marketing and TerminallingStorage and TransportationInvestments in Pipeline Joint VenturesCorporate and OtherConsolidated
Net revenues:
Affiliate$49,182 $52,076 $31,735 $— $— $132,993 
Third party44,055 66,751 3,112 — — 113,918 
Total revenue$93,237 $118,827 $34,847 $— $— $246,911 
Segment EBITDA$52,663 $27,983 $14,978 $7,285 $(10,129)$92,780 
Depreciation and amortization18,801 1,880 2,304 — 742 23,727 
Amortization of customer contract intangible— 1,802 — — — 1,802 
Interest expense, net— — — — 35,099 35,099 
Income tax expense256 
Net income$31,896 
Capital spending$18,877 $(2,712)$3,215 $— $— $19,380 

7 |

Six Months Ended June 30, 2024
Gathering and ProcessingWholesale Marketing and TerminallingStorage and TransportationInvestments in Pipeline Joint VenturesCorporate and OtherConsolidated
Net revenues:
Affiliate$104,082 $123,781 $68,590 $— $— $296,453 
Third party84,444 131,089 4,717 — — 220,250 
Total revenue$188,526 $254,870 $73,307 $— $— $516,703 
Segment EBITDA$112,439 $55,479 $34,879 $16,372 $(15,276)$203,893 
Depreciation and amortization40,216 3,347 5,297 — 1,842 50,702 
Amortization of customer contract intangible— 3,605 — — — 3,605 
Interest expense, net— — — — 75,497 75,497 
Income tax expense383 
Net income$73,706 
Capital spending$22,074 $21 $3,257 $— $— $25,352 

Six Months Ended June 30, 2023
Gathering and ProcessingWholesale Marketing and TerminallingStorage and TransportationInvestments in Pipeline Joint VenturesCorporate and OtherConsolidated
Net revenues:
Affiliate$101,943 $85,827 $70,222 $— $— $257,992 
Third party83,726 145,309 3,409 — — 232,444 
Total revenue$185,669 $231,136 $73,631 $— $— $490,436 
Segment EBITDA$108,108 $49,937 $28,400 $13,601 $(14,108)$185,938 
Depreciation and amortization35,248 3,569 4,406 — 1,609 44,832 
Amortization of customer contract intangible— 3,605 — — — 3,605 
Interest expense, net— — — — 67,680 67,680 
Income tax expense558 
Net income$69,263 
Capital spending$51,666 $404 $3,411 $— $— $55,481 






8 |

Delek Logistics Partners, LP
Segment Capital Spending
 (In thousands)
 Three Months Ended June 30,Six Months Ended June 30,
Gathering and Processing2024202320242023
Regulatory capital spending$— $— $— $— 
Sustaining capital spending171 — 1,008 — 
Growth capital spending7,180 18,877 21,066 51,666 
Segment capital spending$7,351 $18,877 $22,074 $51,666 
Wholesale Marketing and Terminalling
Regulatory capital spending$99 $18 27 79 
Sustaining capital spending6 (3,856)(6)(925)
Growth capital spending— 1,126 — 1,250 
Segment capital spending$105 $(2,712)$21 $404 
Storage and Transportation
Regulatory capital spending$322 $1,124 $322 $1,148 
Sustaining capital spending2,409 2,091 2,935 2,263 
Growth capital spending— — $— $— 
Segment capital spending$2,731 $3,215 $3,257 $3,411 
Consolidated
Regulatory capital spending$421 $1,142 $349 $1,227 
Sustaining capital spending2,586 (1,765)3,937 1,338 
Growth capital spending7,180 20,003 21,066 52,916 
Total capital spending$10,187 $19,380 $25,352 $55,481 
Delek Logistics Partners, LP
Segment Operating Data (Unaudited)
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Gathering and Processing Segment:
Throughputs (average bpd)
El Dorado Assets:
    Crude pipelines (non-gathered)73,320 61,260 73,166 62,131 
    Refined products pipelines to Enterprise Systems60,575 44,966 61,904 49,957 
El Dorado Gathering System 13,024 13,041 13,005 13,509 
East Texas Crude Logistics System23,259 30,666 21,481 26,690 
Midland Gathering System206,933 221,876 210,196 221,993 
Plains Connection System210,033 255,035 233,438 247,856 
Delaware Gathering Assets:
Natural Gas Gathering and Processing (Mcfd(1))
76,237 73,309 76,280 74,008 
Crude Oil Gathering (average bpd)123,927 117,017 123,718 110,408 
Water Disposal and Recycling (average bpd)116,916 127,195 118,592 107,848 
Wholesale Marketing and Terminalling Segment:
East Texas - Tyler Refinery sales volumes (average bpd) (2)
71,082 69,310 68,779 52,158 
Big Spring marketing throughputs (average bpd)81,422 75,164 79,019 76,763 
West Texas marketing throughputs (average bpd) 11,381 9,985 10,678 9,454 
West Texas gross margin per barrel$2.99 $7.01 $2.60 $6.27 
Terminalling throughputs (average bpd) (3)
159,260 134,323 147,937 113,926 
(1) Mcfd - average thousand cubic feet per day.
(2) Excludes jet fuel and petroleum coke.
(3) Consists of terminalling throughputs at our Tyler, Big Spring, Big Sandy and Mount Pleasant, Texas, El Dorado and North Little Rock, Arkansas and Memphis and Nashville, Tennessee terminals.


9 |

Investor Relations and Media/Public Affairs Contact:
investor.relations@delekus.com
Information about Delek Logistics Partners, LP can be found on its website (www.deleklogistics.com), investor relations webpage (https://www.deleklogistics.com/investor-relations), news webpage (https://www.deleklogistics.com/news-releases) and its X account (@DelekLogistics).
10 |
v3.24.2.u1
Cover Page Document
Aug. 06, 2024
Cover [Abstract]  
Entity Central Index Key 0001552797
Title of 12(b) Security Common Units Representing Limited Partner Interests
Local Phone Number 771-6701
Entity Incorporation, State or Country Code DE
Document Period End Date Aug. 06, 2024
Document Type 8-K
Entity Registrant Name DELEK LOGISTICS PARTNERS, LP
City Area Code 615
Entity File Number 001-35721
Entity Tax Identification Number 45-5379027
Entity Address, Address Line One 310 Seven Springs Way, Suite 500
Entity Address, City or Town Brentwood
Entity Address, State or Province TN
Entity Address, Postal Zip Code 37027
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Trading Symbol DKL
Security Exchange Name NYSE
Amendment Flag false
Entity Address, Address Line Two 310 Seven Springs Way, Suite 500
Delek Logistics Partners (NYSE:DKL)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Delek Logistics Partners Charts.
Delek Logistics Partners (NYSE:DKL)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Delek Logistics Partners Charts.