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Magellan Midstream Partners LP (MMP)

MMP on New York Consolidated

73.49USD
17 Jan 2018
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$-0.00 (-0.00%)
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Latest Key Developments (Source: Significant Developments)

Bridgetex Pipeline To Further Expand, Launches Supplemental Open Season For Additional Capacity
Thursday, 30 Nov 2017 04:37pm EST 

Nov 30 (Reuters) - Magellan Midstream Partners Lp ::BRIDGETEX PIPELINE TO FURTHER EXPAND, LAUNCHES SUPPLEMENTAL OPEN SEASON FOR ADDITIONAL CAPACITY.MAGELLAN MIDSTREAM PARTNERS LP - BRIDGETEX PIPELINE'S ADDITIONAL 40,000 BPD OF CAPACITY IS EXPECTED TO BE OPERATIONAL IN EARLY 2019.MAGELLAN MIDSTREAM PARTNERS LP - ‍ BRIDGETEX IS EXPANDING PIPELINE SYSTEM AGAIN, FOR A NEW CAPACITY OF APPROXIMATELY 440,000 BARRELS PER DAY​.MAGELLAN MIDSTREAM PARTNERS LP - HAS LAUNCHED A SUPPLEMENTAL OPEN SEASON TO ASSESS CUSTOMER INTEREST FOR EXPANDED CAPACITY.MAGELLAN MIDSTREAM PARTNERS LP - ALL POTENTIAL CUSTOMERS MUST SUBMIT BINDING COMMITMENTS FOR BRIDGETEX PIPELINE BY DEC. 30, 2017.  Full Article

Magellan Midstream reports Q3 earnings per share $0.87
Thursday, 2 Nov 2017 08:29am EDT 

Nov 2 (Reuters) - Magellan Midstream Partners LP :Magellan Midstream reports third-quarter 2017 financial results.Q3 non-GAAP earnings per share $0.97 excluding items.Q3 earnings per share $0.87.Q3 earnings per share view $0.97 -- Thomson Reuters I/B/E/S.Magellan Midstream Partners LP - ‍Management reaffirms its annual dcf guidance of $1.02 billion for 2017​.Magellan Midstream Partners - Currently sees total negative dcf impact of hurricane harvey to be about $20 million, net of expected insurance reimbursements​.Magellan Midstream Partners LP - Sees 2017 net income per limited partner unit estimated to be $3.92, which results in Q4 guidance of $1.15​.Magellan Midstream Partners - ‍Expects to spend $600 million in 2017,$800 million in 2018 & $350 million in 2019 to complete current slate of construction projects​.Magellan Midstream - ‍Of total expected dcf impact of hurricane Harvey, about $10 million reduced third-quarter DCF​ ​.Magellan Midstream Partners LP - ‍Reaffirms its annual DCF guidance of $1.02 billion for 2017​.Magellan Midstream Partners LP - Qtrly ‍total revenue $551.782 million versus $572.848​ million.Q3 revenue view $603.0 million -- Thomson Reuters I/B/E/S.  Full Article

MAGELLAN MIDSTREAM PARTNERS ENTERS $1 BLN AMENDED, RESTATED CREDIT AGREEMENT DATED OCT 26
Friday, 27 Oct 2017 03:07pm EDT 

Oct 27 (Reuters) - Magellan Midstream Partners LP ::MAGELLAN MIDSTREAM PARTNERS - ENTERED INTO $1 BILLION SECOND AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF OCT 26, 2017 - SEC FILING​.MAGELLAN MIDSTREAM PARTNERS - ‍BORROWINGS UNDER CREDIT AGREEMENT WILL BE UNSECURED AND BEAR INTEREST AT LIBOR RATE/ A BASE RATE, PLUS APPLICABLE MARGIN​.MAGELLAN MIDSTREAM PARTNERS LP - CREDIT ‍AGREEMENT PROVIDES FOR A FIVE-YEAR SENIOR UNSECURED REVOLVING CREDIT FACILITY​.  Full Article

MAGELLAN MIDSTREAM INCREASES QTRLY CASH DISTRIBUTION TO 90.5 CENTS
Thursday, 19 Oct 2017 10:07am EDT 

Oct 19 (Reuters) - Magellan Midstream Partners ::MAGELLAN MIDSTREAM INCREASES QUARTERLY CASH DISTRIBUTION TO 90.5 CENTS.  Full Article

Magellan Midstream prices $500 million debt offering
Tuesday, 26 Sep 2017 03:21pm EDT 

Sept 26 (Reuters) - Magellan Midstream Partners LP ::Magellan Midstream prices $500 million debt offering.It has priced $500 million of its 4.20% senior notes due 2047​.Notes were priced at 99.341% of par to yield 4.239% to maturity​.  Full Article

Magellan Midstream and Valero form joint venture to expand Pasadena marine terminal
Thursday, 14 Sep 2017 08:45am EDT 

Sept 14 (Reuters) - Magellan Midstream Partners LP :Magellan Midstream and Valero form joint venture to expand Pasadena marine terminal.Magellan Midstream Partners- Pasadena facility will be owned by a limited liability company that is owned 50/50 by Magellan and Valero.Magellan Midstream Partners - ‍all future expansions are expected to be owned by jointly-owned company​.Magellan Midstream Partners - ‍combined, phases 1 and 2 of Pasadena marine terminal currently estimated to cost about $820 mln.Magellan Midstream-co's incremental capital spending will be about $75 mln versus previous spending estimates of $335 mln for phase 1 of Pasadena facility​.Magellan Midstream Partners LP - ‍ Pasadena marine facility will be expanded by 4 mln barrels of storage, 3-bay truck rack, a second marine dock.  Full Article

Magellan Midstream Partners LP ‍to expand its refined petroleum products pipeline system​
Wednesday, 6 Sep 2017 09:00am EDT 

Sept 6 (Reuters) - Magellan Midstream Partners LP :Magellan Midstream Partners LP - ‍To expand its refined petroleum products pipeline system​.Magellan Midstream Partners LP - ‍Plans to build an approximately 135-mile, 16-inch pipeline from its terminal in East Houston to Hearne, Texas​.Magellan Midstream Partners LP - ‍Will own newly-constructed pipeline from East Houston to Hearne via undivided joint interest deal with Valero Energy.Magellan Midstream Partners LP - ‍Magellan will make a number of enhancements to its existing pipeline and terminal infrastructure​.Magellan Midstream Partners LP - ‍Currently expects to spend approximately $375 million for its share of the project​.  Full Article

Magellan Midstream to construct Delaware basin crude oil, condensate pipeline
Tuesday, 5 Sep 2017 08:55am EDT 

Sept 5 (Reuters) - Magellan Midstream Partners Lp ::Magellan Midstream to construct Delaware basin crude oil and condensate pipeline.Magellan Midstream Partners Lp - commencing construction of a new Delaware basin pipeline originating in Wink, Texas to handle crude oil and condensate.Magellan Midstream Partners-currently expects Delaware basin​ project to cost approximately $150 million and to be operational in mid-2019.Magellan Midstream Partners Lp - plans to conduct an open season for commitments on new pipeline system at a later time.Magellan Midstream Partners Lp - partnership is assessing additional pipeline and terminal investments in west Texas.  Full Article

Magellan expects crude oil pipelines to commence service over weekend
Friday, 1 Sep 2017 03:00pm EDT 

Sept 1 (Reuters) - Magellan Midstream Partners LP ::Magellan says significant progress has been made at its facilities in Houston and Corpus Christi, Texas following the impact of Hurricane Harvey, with no significant asset damage found.Magellan says refined products pipeline service has now resumed at the partnership's East Houston terminal to deliver gasoline, diesel fuel and jet fuel to Dallas & West Texas.Magellan says until those markets can be adequately resupplied will continue to deliver refined products from its reversed pipeline segment that provides transportation services from Oklahoma refineries to Dallas/Ft. Worth, west Texas markets.Magellan says expects crude oil pipelines to commence service over weekend.Magellan says inspections continue for crude pipelines, including Longhorn and Bridgetex, with operations expected to resume over the weekend once assessments are complete.Magellan says clean-up work, inspections continue at the partnership's Galena Park marine facility, but a restart timetable is not yet available.Magellan says concerning Corpus Christi, storage and distribution services have commenced at this facility.Magellan says currently expects to restart its condensate splitter mid-next week following thorough review of all electronic devices that is currently underway.  Full Article

Magellan Midstream advises operational impact of Hurricane Harvey
Friday, 1 Sep 2017 02:48pm EDT 

Sept 1 (Reuters) - Magellan Midstream Partners LP ::Magellan Midstream advises operational impact of Hurricane Harvey.Progress has been made at its facilities in Houston and Corpus Christi, with no significant asset damage found​.‍Refined products pipeline service has now resumed at partnership's east Houston terminal​.Partnership currently expects to restart condensate splitter mid-next week.‍Clean-up work, inspections continue at partnership's Galena Park marine facility, but a restart timetable is not yet available​.Will deliver refined products from reversed pipeline segment provides transportation services from Oklahoma refineries into Dallas & west Texas markets​.  Full Article

Oil producers want new hearing on impact of Magellan proposal

NEW YORK Oil and gas producers WPX Energy and Chevron have asked a U.S. regulator for a new hearing on the broad industry impact of Magellan Midstream Partners' request to launch a marketing arm, signaling concerns about the effect it could have on shipping oil in the United States.