UPDATE 1-Magellan acquires Houston-area oil pipeline from Shell
Aug 15 (Reuters) - Magellan Midstream Partners LP said on Thursday it acquired from Shell Pipeline Co LP a 150,000 barrel per day (bpd) bi-directional crude oil pipeline running from the Genoa Junction in the Houston area to Magellan's East Houston terminal.
Magellan said the 16-inch diameter, 15-mile-long pipeline, known as the West Columbia line, will provide an additional route for crude oil, particularly from the Eagle Ford oil fields in West Texas, to reach the company's East Houston terminal.
It said the crude can be put into storage at the terminal or delivered into Royal Dutch Shell Plc's Houston-to-Houma, Louisiana, pipeline, also known as the Ho-Ho system, which is in the process of completing a reversal in direction.
No terms of the acquisition were released by Magellan.