Just how long is Tulsa, Okla.-based Magellan Midstream’s refined products pipeline system? For starters, at 9,700 miles it’s the longest of its kind in the nation, which—if laid end-to-end—could stretch from New York to California more than three times. And Magellan’s not done expanding. Pardon the pun, but not by a long shot.
Magellan Midstream Partners LP
Magellan Midstream Partners, L.P. is a publicly traded oil pipeline, storage and transportation company based in Tulsa, Okla. Formerly a part of Williams Companies, Magellan began trading as Williams Energy Partners in February 2001. In September 2003, we changed our name to Magellan Midstream Partners and began trading under the stock ticker MMP.
RMR today is following the latest news from Magellan, which just announced a supplemental open season for transportation volumes on the western leg of its petroleum products pipeline to increase capacity from 100,000 to 175,000 BPD. Based on commitments, the company says it will consider adding another 25,000 BPD of capacity with completions expected by the end of 2021. The expansion also includes a new Midland, Texas, terminal growing Magellan’s network to 54 terminals connected to the pipeline, 25 independent terminals, and six marine terminals.
In related news, the company announced in late October strong 3Q earnings results that look to position this midstream star for another banner year. The East Houston-to-Hearne segment of its refined products pipeline launched service in mid-September. This, along with continued large-scale construction of Magellan’s sprawling oil and gas assets across 15 states, which also include an 1,100-mile ammonia pipeline and 2,200 miles of crude oil pipelines.
What do you think?
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