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BP Midstream Partners LP

Company Summary

Description

BP Midstream Partners was formed as a vehicle to own, operate, develop and acquire pipelines and other midstream assets. It will be headquartered in Houston, Texas, with offices in Chicago, Illinois. BP Midstream Partners' initial assets are expected to consist of ownership interests in one onshore crude oil pipeline system, one onshore refined products pipeline system, and one onshore diluent pipeline system, which carry shipments to or from BP’s Whiting Refinery in Whiting, Indiana, together with interests in four offshore crude oil pipeline systems and one offshore natural gas pipeline system that connect offshore production areas in the Gulf of Mexico with the Gulf Coast refining and distribution hubs.

Operational Regions

  • United States
  • Gulf of Mexico

Financial Data:

NYSE:BPMP from Google Finance

Tickers:

  • BPMP - New York Stock Exchange

Related Entities

Recent news

  • 12/21/2021 - BP Acquiring Remaining... (subscriber access)
  • 11/13/2019 - BP Midstream Considering... (subscriber access)
  • 8/15/2019 - BP Midstream Partners... (subscriber access)
  • 10/2/2018 - BP Midstream Partners... (subscriber access)
  • 10/26/2017 - BP Midstream Partners... (subscriber access)

Investor Presentations

Company Transactions

Date: 1/31/2022
Type: Acquisition

BUYERS:
  • BP PLC
  • DETAILS:
    NOTES:
    BP has reached a deal with BP Midstream Partners (BPMP) to acquire all outstanding common units of BPMP that they do not already own. That would represent the purchase of 47.8 million units via an all-stock transaction, with each unit holder receiving 0.575 of an American Depositary Share of BP.
    REGIONS:
  • International
  • Date: 10/2/2018
    Type: Acquisition

    SELLERS:
  • BP PLC
  • DETAILS:

    COST: 468 $MM

    NOTES:
    BP Midstream Partners acquired equity interests in Mardi Gras Transportation System Company LLC, URSA Oil Pipeline Company LLC, and KM-Pheonix Holdings LLC from BP for $468 million in cash. Following the acquisition, BP Midstream Partner contains 65% interest in Mardi Gras, roughly 22.7% interest in Ursa, and 25% interest in KM-Phoenix.
    REGIONS:
  • Gulf of Mexico