Who is Magellan Midstream Partners?

Magellan Midstream Partners, L.P. is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil 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.

In 2004, Magellan purchased significant assets from Shell, including more than 3,000 miles of refined product pipelines as well as terminals and storage capacity. In 2007, another acquisition expanded Magellan’s footprint with increased capabilities in Texas. In 2009, we bought the Longhorn Pipeline running from Houston to El Paso. The reversal of this line has played a key part in Magellan’s growth the last few years. In 2010, Magellan purchased another 100 miles of pipeline and 7.8 million barrels of storage from BP. In 2013, Magellan acquired approximately 800 miles of refined petroleum products pipeline, four terminals and 1.7 million barrels of storage from Plains All American Pipeline. This purchase added assets in Colorado, New Mexico, South Dakota and Wyoming.

Today, Magellan has a 9,800-mile refined products pipeline system with 53 connected terminals as well as 25 independent terminals not connected to our pipeline system and two marine storage terminals (one of which is owned through a joint venture). In addition, we own approximately 2,200 miles of crude oil pipelines and storage facilities with an aggregate storage capacity of about 37 million barrels, of which 25 million are used for contract storage. Approximately 1,000 miles of these pipelines, the condensate splitter and 30 million barrels of this storage capacity (including 22 million barrels used for contract storage) are wholly-owned, and the remainder is owned through joint ventures. 

Business Strategy

The foundation of our business strategy is safe and efficient operations combined with superior customer service. Upon that foundation, we strive to increase cash distributions to our unitholders through internally-generated growth projects which expand the profitability of our existing asset base and through acquisitions of energy infrastructure assets possessing a reasonable risk/reward profile.

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