Please wait
globea20.jpg
Delek Logistics Reports Record Second Quarter 2025 Results
•Net income of $44.6 million
•Reported Adjusted EBITDA of $120.9 million up 18% year over year
•Executing well on our full year Adjusted EBITDA guidance of $480 to $520 million
•Continued our consistent distribution growth with our 50th consecutive quarterly increase to $1.115/unit
•Successfully completed new Libby 2 gas processing plant, providing a much needed processing capacity expansion to our producer customers in Lea County, New Mexico
•Successfully executed $700.0 million debt offering maturing in June 2033
◦This offering improves DKL's total liquidity to over $1 billion
◦Enhanced liquidity reinforces DKL's growth efforts as an independent company

BRENTWOOD, Tenn., August 6, 2025 -- Delek Logistics Partners, LP (NYSE: DKL) ("Delek Logistics") today announced its financial results for the second quarter 2025.
“During the second quarter Delek Logistics continued its strong execution by completing the construction of new Libby 2 plant and several crude & water gathering projects. Along with providing the highest yield compared to its peers in the AMZI, DKL also continues to provide a long runway of growth driven by its advantageous position in the Midland and the Delaware basins. We are proud of the 50th consecutive increase in our distribution and we expect to continue to increase our distribution in the future. Due to our strong execution we are increasingly confident in our full year Adjusted EBITDA guidance of $480mm to $520mm," said Avigal Soreq, President of Delek Logistics' general partner.
"We are also making progress on adding AGI & sour gas treating capabilities at the Libby Complex and look to further expand the overall processing capacity. As I have mentioned in the past, we will continue to strengthen and grow Delek Logistics through a prudent management of liquidity and leverage," Mr. Soreq continued.
Delek Logistics reported second quarter 2025 net income of $44.6 million or $0.83 per diluted common limited partner unit. The second quarter 2025 net income included $2.5 million of transaction costs. This compares to net income of $41.1 million, or $0.87 per diluted common limited partner unit, in the second quarter 2024. Net cash provided by operating activities was $107.4 million in the second quarter 2025 compared to $87.6 million in the second quarter 2024. Distributable cash flow, as adjusted was $72.5 million in the second quarter 2025, compared to $67.8 million in the second quarter 2024.
For the second quarter 2025, earnings before interest, taxes, depreciation and amortization ("EBITDA") was $90.1 million compared to $102.4 million in the second quarter 2024. The second quarter 2025 EBITDA included $2.5 million of transaction costs, $0.9 million of DPG inventory and $27.4 million of sales-type lease accounting impacts. For the second quarter 2025, Adjusted EBITDA was $120.9 million compared to $102.4 million in the second quarter 2024.
Distribution and Liquidity
On July 29, 2025, Delek Logistics declared a quarterly cash distribution of $1.115 per common limited partner unit for the second quarter 2025. This distribution will be paid on August 14, 2025 to unitholders of record on August 8, 2025. This represents a 0.5% increase from the first quarter 2025 distribution of $1.110 per common limited partner unit, and a 2.3% increase over Delek Logistics’ second quarter 2024 distribution of $1.090 per common limited partner unit.
As of June 30, 2025, Delek Logistics had total debt of approximately $2.2 billion and cash of $1.4 million and a leverage ratio of approximately 4.32x. Additional borrowing capacity under the $1.2 billion third party revolving credit facility was $1.1 billion.
Consolidated Operating Results
Adjusted EBITDA in the second quarter 2025 was $120.9 million compared to $102.4 million in the second quarter 2024. The $18.5 million increase in Adjusted EBITDA reflects the results of H2O Midstream and Gravity operations, as well as impacts from the W2W dropdown, and an increase in wholesale margins.
Gathering and Processing Segment
Adjusted EBITDA in the second quarter 2025 was $78.0 million compared with $54.7 million in the second quarter 2024. The increase was
1 |

primarily due to incremental EBITDA from the Gravity and H2O Midstream acquisitions.
Wholesale Marketing and Terminalling Segment
Adjusted EBITDA in the second quarter 2025 was $23.3 million, compared with second quarter 2024 Adjusted EBITDA of $30.2 million. The decrease was primarily due to assignment of Big Spring refinery marketing agreement to Delek Holdings, which was partially offset by an increase in wholesale margins.
Storage and Transportation Segment
Adjusted EBITDA in the second quarter 2025 was $16.9 million, compared with $16.8 million in the second quarter 2024.
Investments in Pipeline Joint Ventures Segment
During the second quarter 2025, income from equity method investments was $10.5 million compared to $7.9 million in the second quarter 2024. The increase was primarily due to the impacts of the W2W dropdown.
Corporate
Adjusted EBITDA in the second quarter 2025 was a loss of $7.9 million compared to a loss of $7.1 million in the second quarter 2024.
Second Quarter 2025 Results | Conference Call Information
Delek Logistics will hold a conference call to discuss its second quarter 2025 results on Wednesday, August 6, 2025 at 11:30 a.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. Forward-looking statements include, but are not limited to, anticipated performance and financial position; statements regarding future growth at Delek Logistics; distributions and the amounts and timing thereof; potential dropdown inventory; projected benefits of the Delaware Gathering, Permian Gathering, H2O Midstream and Gravity Water Midstream acquisitions; 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.
Investors are cautioned that the following important factors, including among others, may affect these forward-looking statements: the fact that a significant portion of Delek Logistics' revenue is derived from Delek US, thereby subjecting us to Delek US' business risks; political or regulatory developments, including tariffs, taxes and changes in governmental policies relating to crude oil, natural gas, refined products or renewables; 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; Delek Logistics' ability to realize cost reductions; 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 possible benefits of the Delaware Gathering, Permian Gathering, H2O Midstream and Gravity transactions, as well as from integration post-closing; risks related to exposure to Permian Basin crude oil, such as supply, pricing, gathering, production and transportation capacity; uncertainties regarding actions by OPEC and non-OPEC oil producing countries impacting crude oil production and pricing; 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; 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 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 |

DPG Drop
On May 1, 2025, Delek Holdings transferred the Delek Permian Gathering purchasing and blending business to the Partnership (the "DPG Dropdown”). In connection with the DPG Dropdown, the Partnership assumed all of Delek Holdings’ rights and obligations to purchase crude oil under certain contracts associated with the Partnership’s existing Midland Gathering System. In addition, line fill inventory amounting to $6.9 million was transferred to the Partnership. Total consideration included the cancellation of $58.8 million in existing receivables owed to the Partnership by Delek Holdings.
Sales-Type Leases
During the third quarter of 2024, Delek Logistics and Delek US renewed and amended certain commercial agreements. These amendments required the embedded leases within these agreements to be reassessed under Accounting Standards Codification 842, Leases. As a result of these amendments, certain of these agreements met the criteria to be accounted for as sales-type leases. Therefore, portions of our payments received for minimum volume commitments under agreements subject to sales-type lease accounting are recorded as interest income with the remaining amounts recorded as a reduction in net investment in leases. Prior to the amendments, these agreements were accounted for as operating leases and these minimum volume commitments were recorded as revenues.
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 financial information presented in accordance with United States ("U.S.") Generally Accepted Accounting Principles ("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 interest, income taxes, depreciation and amortization, including amortization of customer contract intangible assets, which is included as a component of net revenues.
•Adjusted EBITDA - EBITDA adjusted for (i) significant, infrequently occurring transaction costs and (ii) throughput and storage fees associated with the lease component of commercial agreements subject to sales-type lease accounting.
•Distributable cash flow - calculated as net cash flow from operating activities adjusted for changes in assets and liabilities, maintenance capital expenditures net of reimbursements, sales-type lease receipts, net of income recognized and other adjustments not expected to settle in cash.
•Distributable cash flow, as adjusted - calculated as distributable cash flow adjusted to exclude significant, infrequently occurring transaction costs.
Our EBITDA, Adjusted EBITDA, distributable cash flow and distributable cash flow, as adjusted 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 and Adjusted 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 these non-GAAP measures provide information useful to investors in assessing our financial condition and results of operations and assists in evaluating our ongoing operating performance and liquidity for current and comparative periods. Non-GAAP measures 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. Non-GAAP measures have important limitations as analytical tools, because they exclude some, but not all, items that affect net earnings, net cash provided by operating activities and operating income. These measures should not be considered substitutes for their most directly comparable U.S. GAAP financial measures. Additionally, because EBITDA, Adjusted EBITDA, distributable cash flow and distributable cash flow, as adjusted may be defined differently by other partnerships in our industry, our definitions may not be comparable to similarly titled measures of other partnerships, thereby diminishing their utility. See the accompanying tables in this earnings release for a reconciliation of these non-GAAP measures to the most directly comparable GAAP measures. However, due to the inherent difficulty and impracticability of estimating certain amounts required by U.S. GAAP with a reasonable degree of certainty at this time without unreasonable effort and imprecision, we have not provided a reconciliation of forward-looking Adjusted EBITDA guidance.



3 |


Delek Logistics Partners, LP
Consolidated Balance Sheets (Unaudited)
(In thousands, except unit data)
June 30, 2025December 31, 2024
ASSETS
Current assets:
Cash and cash equivalents$1,436 $5,384 
   Accounts receivable97,522 54,725 
Accounts receivable from related parties272,488 33,313 
Lease receivable - affiliate19,585 22,783 
Inventory17,139 5,427 
Other current assets1,677 24,260 
Total current assets409,847 145,892 
Property, plant and equipment:  
Property, plant and equipment1,754,834 1,375,391 
Less: accumulated depreciation(350,992)(311,070)
Property, plant and equipment, net1,403,842 1,064,321 
Equity method investments 320,176 317,152 
Customer relationship intangibles, net245,548 186,911 
Other intangibles, net132,662 94,547 
Goodwill12,203 12,203 
Operating lease right-of-use assets14,292 16,654 
Net lease investment - affiliate188,045 193,126 
Other non-current assets26,274 10,753 
Total assets$2,752,889 $2,041,559 
LIABILITIES AND EQUITY  
Current liabilities:  
Accounts payable$382,373 $41,380 
Interest payable29,664 30,665 
Excise and other taxes payable16,725 6,764 
Current portion of operating lease liabilities4,260 5,340 
Accrued expenses and other current liabilities9,582 4,629 
Total current liabilities442,604 88,778 
Non-current liabilities:
Long-term debt, net of current portion2,211,426 1,875,397 
Operating lease liabilities, net of current portion4,752 6,004 
Asset retirement obligations25,288 15,639 
Other non-current liabilities36,828 20,213 
Total non-current liabilities2,278,294 1,917,253 
Total liabilities2,720,898 2,006,031 
Equity:
Common unitholders - public; 19,595,393 units issued and outstanding at June 30, 2025 (17,374,618 at December 31, 2024)519,930 440,957 
Common unitholders - Delek Holdings; 33,868,203 units issued and outstanding at June 30, 2025 (34,111,278 at December 31, 2024)(487,939)(405,429)
Total equity31,991 35,528 
Total liabilities and equity$2,752,889 $2,041,559 
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,
 2025202420252024
Net revenues:
Affiliate$114,083 $156,828 $240,404 $296,453 
Third party132,267 107,800 255,876 220,250 
Net revenues246,350 264,628 496,280 516,703 
Cost of sales:
Cost of materials and other - affiliate84,411 103,065 174,377 195,947 
Cost of materials and other - third party34,950 34,995 74,036 65,805 
Operating expenses (excluding depreciation and amortization presented below)37,525 29,454 78,155 61,149 
Depreciation and amortization25,879 22,746 52,377 47,913 
Total cost of sales182,765 190,260 378,945 370,814 
Operating expenses related to wholesale business (excluding depreciation and amortization presented below)549 174 904 395 
General and administrative expenses8,944 6,016 17,808 10,879 
Depreciation and amortization1,218 1,461 2,436 2,789 
Other operating expense (income), net438 (1,744)(3,848)(1,177)
Total operating costs and expenses193,914 196,167 396,245 383,700 
Operating income52,436 68,461 100,035 133,003 
Interest income(23,538)(28)(46,085)(28)
Interest expense41,711 35,296 82,812 75,525 
Income from equity method investments (10,536)(7,882)(20,686)(16,372)
Other income, net(20)(40)(41)(211)
Total non-operating expenses, net7,617 27,346 16,000 58,914 
Income before income tax expense44,819 41,115 84,035 74,089 
Income tax expense245 57 427 383 
Net income44,574 41,058 83,608 73,706 
Comprehensive income 44,574 41,058 $83,608 $73,706 
Net income per unit:
Basic$0.83 $0.87 $1.56 $1.61 
Diluted$0.83 $0.87 $1.56 $1.61 
Weighted average common units outstanding:
Basic53,445,803 47,219,184 53,524,792 45,812,770 
Diluted53,473,271 47,232,507 53,553,227 45,829,522 
Delek Logistics Partners, LP
Condensed Consolidated Statements of Cash Flows (In thousands)Three Months Ended June 30,Six Months Ended June 30,
(Unaudited) 2025202420252024
Cash flows from operating activities
Net cash provided by operating activities$107,423 $87,639 $138,973 $131,497 
Cash flows from investing activities
Net cash used in investing activities(112,916)(5,560)(347,683)(15,421)
Cash flows from financing activities
Net cash provided by (used in) financing activities4,822 (86,640)204,762 (114,720)
Net (decrease) increase in cash and cash equivalents(671)(4,561)(3,948)1,356 
Cash and cash equivalents at the beginning of the period2,107 9,672 5,384 3,755 
Cash and cash equivalents at the end of the period$1,436 $5,111 $1,436 $5,111 
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,
2025202420252024
Reconciliation of Net Income to EBITDA:
Net income$44,574 $41,058 $83,608 $73,706 
Add:
Income tax expense245 57 427 383 
Depreciation and amortization27,097 24,207 54,813 50,702 
Amortization of marketing contract intangible— 1,802 — 3,605 
Interest expense, net18,173 35,268 36,727 75,497 
EBITDA90,089 102,392 175,575 203,893 
Throughput and storage fees for sales-type leases27,406 — 55,112 — 
DPG Inventory Impact900 — 900 
Transaction costs 2,496 — 5,845 — 
Adjusted EBITDA$120,891 $102,392 $237,432 $203,893 
Reconciliation of net cash from operating activities to distributable cash flow:
Net cash provided by operating activities$107,423 $87,639 $138,973 $131,497 
Changes in assets and liabilities(37,602)(24,305)(5,522)1,482 
Non-cash lease expense(1,352)38 (3,619)(1,901)
Distributions from equity method investments in investing activities 3,443 540 5,570 2,673 
Regulatory and sustaining capital expenditures not distributable(4,598)(3,007)(5,243)(4,286)
Reimbursement from Delek Holdings for capital expenditures10 (4)19 282 
Sales-type lease receipts, net of income recognized3,868 — 9,027 — 
Accretion(638)(186)(1,047)(373)
Deferred income taxes(78)(103)(263)(204)
(Loss) gain on disposal of assets(438)7,197 3,848 6,630 
Distributable Cash Flow 70,038 67,809 141,743 135,800 
Transaction costs2,496 — 5,845 — 
Distributable Cash Flow, as adjusted (1)
$72,534 $67,809 $147,588 $135,800 

(1) Distributable cash flow adjusted to exclude transaction costs primarily associated with the H2O Midstream Acquisition and Gravity Acquisition.
Delek Logistics Partners, LP
Distributable Coverage Ratio Calculation (Unaudited)
(In thousands)
 Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Distributions to partners of Delek Logistics, LP$59,612 $51,263 $118,932 $101,784 
Distributable cash flow$70,038 $67,809 $141,743 $135,800 
Distributable cash flow coverage ratio (1)
1.17x1.32x1.19x1.33x
Distributable cash flow, as adjusted72,534 67,809 147,588 135,800 
Distributable cash flow coverage ratio, as adjusted (2)
1.22x1.32x1.24x1.33x

(1) Distributable cash flow coverage ratio is calculated by dividing distributable cash flow by distributions to be paid in each respective period.
(2) Distributable cash flow coverage ratio, as adjusted is calculated by dividing distributable cash flow, as adjusted for transaction costs by distributions to be paid in each respective period.


6 |


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

Three Months Ended June 30, 2025
Gathering and ProcessingWholesale Marketing and TerminallingStorage and TransportationInvestments in Pipeline Joint VenturesCorporate and OtherConsolidated
Net revenues:
Affiliate$39,098 $52,367 $22,618 $— $— $114,083 
Third party78,669 52,248 1,350 — — 132,267 
Total revenue$117,767 $104,615 $23,968 $— $— $246,350 
Adjusted EBITDA$77,984 $23,307 $16,928 $10,536 $(7,864)$120,891 
Transaction costs— — — — 2,496 2,496 
DPG Inventory Impact900 — — ——900 
Throughput and storage fees for sales-type leases13,137 4,368 9,901 — — 27,406 
Segment EBITDA$63,947 $18,939 $7,027 $10,536 $(10,360)$90,089 
Depreciation and amortization$24,085 $952 $1,301 $— $759 27,097 
Interest income$(11,113)$(4,109)$(8,316)$— $— (23,538)
Interest expense$— $— $— $— $41,711 41,711 
Income tax benefit245 
Net income$44,574 
Capital spending$117,218 $65 $1,906 $— $— $119,189 

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 amortization$19,062 $1,635 $2,522 $— $988 24,207 
Amortization of marketing contract intangible$— $1,802 $— $— $— 1,802 
Interest income— — (28)— — (28)
Interest expense$— $— $— $— $35,296 35,296 
Income tax expense57 
Net income$41,058 
Capital spending$7,351 $105 $2,731 $— $— $10,187 
7 |

Six Months Ended June 30, 2025
Gathering and ProcessingWholesale Marketing and TerminallingStorage and TransportationInvestments in Pipeline Joint VenturesCorporate and OtherConsolidated
Net revenues:
Affiliate$77,665 $117,075 $45,664 $— $— $240,404 
Third party158,705 94,239 2,932 — — 255,876 
Total revenue$236,370 $211,314 $48,596 $— $— $496,280 
Adjusted EBITDA$159,059 $41,057 $31,399 $20,686 $(14,769)$237,432 
Transaction costs— — — — 5,845 5,845 
DPG Inventory Impact900 — — — — 900 
Throughput and storage fees for sales-type leases26,273 8,881 19,958 — — 55,112 
Segment EBITDA$131,886 $32,176 $11,441 $20,686 $(20,614)175,575 
Depreciation and amortization48,808 1,904 2,582 — 1,519 54,813 
Interest income(22,478)(8,270)(15,337)— — (46,085)
Interest expense— — — — 82,812 82,812 
Income tax expense427 
Net income$83,608 
Capital spending$188,529 $155 $2,448 $— $— $191,132 

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 marketing contract intangible— 3,605 — — — 3,605 
Interest income— — (28)— — (28)
Interest expense— — — — 75,525 75,525 
Income tax expense383 
Net income$73,706 
Capital spending$22,074 $21 $3,257 $— $— $25,352 







8 |

Delek Logistics Partners, LP
Segment Capital Spending
 (In thousands)
 Three Months Ended June 30,Six Months Ended June 30,
Gathering and Processing2025202420252024
Regulatory capital spending$— $— $— $— 
Sustaining capital spending2,627 171 2,640 1,008 
Growth capital spending114,591 7,180 185,889 21,066 
Segment capital spending117,218 7,351 188,529 22,074 
Wholesale Marketing and Terminalling
Regulatory capital spending— 99 11 27 
Sustaining capital spending65 6 144 (6)
Growth capital spending— — — — 
Segment capital spending65 105 155 21 
Storage and Transportation
Regulatory capital spending799 322 1,020 322 
Sustaining capital spending1,107 2,409 1,428 2,935 
Growth capital spending— — — — 
Segment capital spending1,906 2,731 2,448 3,257 
Consolidated
Regulatory capital spending799 421 1,031 349 
Sustaining capital spending3,799 2,586 4,212 3,937 
Growth capital spending114,591 7,180 185,889 21,066 
Total capital spending$119,189 $10,187 $191,132 $25,352 
Delek Logistics Partners, LP
Segment Operating Data (Unaudited)
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Gathering and Processing Segment:
Throughputs (average bpd)
El Dorado Assets:
    Crude pipelines (non-gathered)71,220 73,320 66,580 73,166 
    Refined products pipelines to Enterprise Systems53,597 60,575 54,797 61,904 
El Dorado Gathering System 9,983 13,024 10,151 13,005 
East Texas Crude Logistics System33,101 23,259 30,027 21,481 
Midland Gathering System207,183 206,933 209,059 210,196 
Plains Connection System158,881 210,033 169,004 233,438 
Delaware Gathering Assets:
Natural Gas Gathering and Processing (Mcfd(1))
60,940 76,237 60,378 76,280 
Crude Oil Gathering (average bpd)137,167 123,927 129,737 123,718 
Water Disposal and Recycling (average bpd)116,504 116,499 122,468 122,881 
Midland Water Gathering System:
Water Disposal and Recycling (average bpd) (2)
600,891 — 613,817 — 
Wholesale Marketing and Terminalling Segment:
East Texas - Tyler Refinery sales volumes (average bpd) (3)
67,516 71,082 67,695 68,779 
Big Spring marketing throughputs (average bpd) (4)
— 81,422 — 79,019 
West Texas marketing throughputs (average bpd) 10,757 11,381 10,791 10,678 
West Texas gross margin per barrel$4.12 $2.99 $2.88 $2.60 
Terminalling throughputs (average bpd) (5)
150,971 159,260 144,030 147,937 
(1) Mcfd - average thousand cubic feet per day.
(2) Consists of volumes of H2O Midstream and Gravity. Gravity 2025 volumes are from January 2, 2025 to June 30, 2025.
(3) Excludes jet fuel and petroleum coke.
(4) Marketing agreement terminated on August 5, 2024 upon assignment to Delek Holdings.
(5) Consists of terminalling throughputs at our Tyler, Big Spring, Big Sandy and Mount Pleasant, Texas terminals, our El Dorado and North Little Rock, Arkansas terminals and our 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 |