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Magellan Midstream Partners LP

Company Summary

Description

Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. The partnership owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation's refining capacity, and can store more than 100 million barrels of petroleum products such as gasoline, diesel fuel and crude oil.

Website

https://www.magellanlp.com/

Financial Data:

NYSE:MMP from Google Finance

Tickers:

  • MMP - New York Stock Exchange

Related Entities

Recent news

  • 12/16/2021 - Magellan Midstream... (subscriber access)
  • 11/18/2021 - Magellan Midstream... (subscriber access)
  • 7/29/2021 - Magellan Midstream... (subscriber access)
  • 6/21/2021 - Magellan Midstream &... (subscriber access)
  • 6/10/2021 - Magellan Midstream... (subscriber access)

Investor Presentations

  • Oct 17 Investor Meetings
  • Oct 17 Investor Meetings (subscriber access)
  • Aug 17 Citi MLP Conference (subscriber access)
  • June 2016 Investor Presentation (subscriber access)

Company Transactions

Date: 4/22/2021
Type: Acquisition

DETAILS:

COST: 270 $MM

NOTES:
Magellan Midstream Partners have sold off almost half of their stake in the MVP Terminalling joint venture which runs the Pasadena marine terminal for $270 million. The buyer was undisclosed and the sale closed on April 19, 2021. Magellan retained a 25% stake in the company and is still operator of the 5 million barrel terminal.
REGIONS:
  • Gulf Coast
  • Date: 4/25/2020
    Type: Acquisition

    NOTES:
    Noble Midstream and Greenfield Midstream, via their JV Black Diamond Gathering, has entered into a deal with Saddlehorn Pipeline Company for an option to acquire up to a 20% ownership in the system that expires April 2020. Under the deal, Magellan and Plains would sell down their equity interest on an equal basis while WES retains 20% ownership.
    REGIONS:
  • DJ Basin
  • Date: 4/15/2020
    Type: Acquisition

    NOTES:
    Magellan Midstream has agreed to sell three marine terminals to Buckeye Partners for $250 million. The facilities are located in New Haven, Connecticut, Wilmington, Delaware and Marrero, Louisiana. Closing is expected in the second quarter of 2020.
    REGIONS:
  • Gulf Coast
  • Northeast
  • Date: 2/5/2020
    Type: Acquisition

    NOTES:
    Noble Midstream & Greenfield Midstream, via the Black Diamond Gathering JV, have exercised their option to purchase a 20% stake in the Saddlehorn Pipeline for $155 million.
    REGIONS:
  • DJ Basin
  • Powder River Basin
  • Cushing Oil Terminal
  • Date: 10/15/2018
    Type: Acquisition

    NOTES:
    Plains All American and Magellan Midstream have entered into an agreement to sell a 50% interest in BridgeTex Pipeline Company to OMERS for $1.438 billion. OMERS will acquire a 30% stake from Plains and a 20% stake from Magellan.
    REGIONS:
  • Texas and Producing Region