Profile: Magellan Midstream Partners LP (MMP.N)
56.48USD
1 Aug 2013
$1.80 (+3.29%)
$54.68
$55.61
$56.68
$55.50
124,401
133,672
$56.68
$38.65
Magellan Midstream Partners, L.P. is engaged in the transportation, storage and distribution of refined petroleum products. The Company operates in three segments: petroleum pipeline system, petroleum terminals and ammonia pipeline system. Its petroleum pipeline system, consists of approximately 9,600 miles of pipeline and 50 terminals. Petroleum terminals include storage terminal facilities (consisting of six marine terminals located along coastal waterways and crude oil storage in Cushing, Oklahoma) and 27 inland terminals. Its ammonia pipeline system is representing 1,100-mile ammonia pipeline and six associated terminals. In January 2011, the Company acquired the remaining 50% undivided interest in its Southlake. In April 2011, it acquired an approximate 38-mile petroleum products pipeline segment connected to its petroleum pipeline system at Reagan, Texas. In May 2011, the Company acquired petroleum products storage tanks in Riverside, Missouri. In July 2013, Magellan Midstream Partners LP announced that it has closed on its previously-announced acquisition of pipeline assets in Texas and New Mexico from Plains All American Pipeline LP.
Petroleum pipeline system
Petroleum products transported, stored and distributed through its petroleum pipeline system and petroleum terminals include refined petroleum products, which are the output from refineries and are primarily used as fuels by consumers. The Company’s carrier petroleum pipeline system extends approximately 9,600 miles and covers a 13-state area, extending from the Gulf Coast refining region across Texas and through the Midwest to Colorado, North Dakota, Minnesota, Wisconsin and Illinois. Refined product and LPG shipments originate on its pipeline system from direct connections to refineries and interconnections with other interstate pipelines for transportation and distribution to retail gasoline stations, truck stops, railroads, airports and other end-users.
During the year ended December 31, 2011 (during 2011), the Company’s petroleum pipeline system generated 72% of its revenues. During 2011, its petroleum pipeline system generated the remaining 28% of its revenues. The Company ships petroleum products for several different types of customers, including independent and integrated oil companies, wholesalers, retailers, railroads, airlines and regional farm cooperatives. End markets for refined product deliveries are primarily retail gasoline stations, truck stops, farm cooperatives, railroad fueling depots and military and commercial jet fuel users. LPG shippers include wholesalers and retailers that, in turn, sell to commercial, industrial, agricultural and residential heating customers, as well as utilities who use propane as a fuel source.
Petroleum Terminals
The Company operates two types of terminals: storage terminals and inland terminals. Its facilities receive products from pipelines and distribute them to third parties at the terminals, which in turn deliver them to end-users, such as retail outlets. The Company owns and operates six storage terminals located along coastal waterways in New Haven, Connecticut, Wilmington, Delaware, Marrero and Gibson, Louisiana and Galena Park and Corpus Christi, Texas, and a crude oil storage terminal in Cushing, Oklahoma. Its storage terminals have an aggregate usable storage capacity of approximately 36 million barrels and provide distribution, storage, blending, inventory management and additive injection services for refiners and other end-users of petroleum products.
The Company’s cushing terminal primarily receives and distributes crude oil via common carrier pipelines and short-haul pipeline connections with neighboring crude oil terminals. Its other storage terminals primarily receive petroleum products by ship and barge, short-haul pipeline connections from neighboring refineries and common carrier pipelines. The Company distributes petroleum products from these storage terminals by all of those means, as well as by truck and rail. Products that the Company store include refined petroleum products, blendstocks, crude oils, condensate, heavy oils and feedstocks. In addition to providing storage and distribution services, its storage terminals provide ancillary services, including heating, blending and mixing of stored products and additive injection services.
The Company owns and operates a network of 27 refined petroleum products terminals located primarily in the southeastern United States. The Company wholly own 25 of the 27 terminals in its portfolio. Its terminals have a combined capacity of more than five million barrels. The Company operates its inland terminals as independent distribution terminals, primarily serving the retail, industrial and commercial sales markets. The Company provides inventory and supply management, distribution and other services, such as injection of gasoline additives at its inland terminals.
Ammonia Pipeline System
The Company owns a 1,100-mile common carrier ammonia pipeline system. Its pipeline system transports ammonia from production facilities in Texas and Oklahoma to terminals in the Midwest. The ammonia the Company transports is primarily used as a nitrogen fertilizer. Its ammonia pipeline system originates at production facilities in Borger, Texas and Enid and Verdigris, Oklahoma and terminates in Mankato, Minnesota. The Company transports ammonia to 13 delivery points along its ammonia pipeline system, including to six terminals that the Company owns.
The Company competes with NuStar Energy.
Company Address
Magellan Midstream Partners LP
One Williams Center
TULSA OK 74172
P: +1918.5747000
F: +1302.6555049
Company Web Links
| Name | Compensation |
|---|---|
Michael Mears |
2,768,810 |
John Chandler |
1,767,140 |
Douglas May |
994,598 |
Lisa Korner |
1,027,940 |
Larry Davied |
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