Magellan

Magellan Midstream Partners LP, which specializes in petroleum storage and transportation, said demand for its services swelled in the fourth quarter and is expected to grow further this year as consumption of travel fuels mounts. Tulsa-based Magellan said Wednesday in its fourth quarter earnings release that the refined products business, which comprises about 70% of…

Intercontinental Exchange Inc. (ICE) and Magellan Midstream Partners LP are adding dock capacity auctions for ICE Permian WTI crude oil futures contracts to facilitate exports out of the Houston area, the companies announced Wednesday.

BridgeTexas Pipeline Co. LLC, which is able to transport up to 400,000 b/d of crude oil from the Permian Basin to the Texas coast, on Tuesday gained a Canadian pension plan as a partner, after 50-50 owners Plains All American Pipeline LLC and Magellan Midstream Partners LP agreed to sell a half-stake for nearly $1.44 billion.

Magellan Midstream Partners LPhas acquired a crude oil pipeline in the Houston area, historically known as the West Columbia line, fromShell Pipeline Co. LP. The 16-inch diameter pipeline, which originates at Genoa Junction is about 15 miles long, terminating at Magellan’s terminal in east Houston. Magellan said the pipeline would provide an additional route for crude oil, particularly from the Eagle Ford Shale, to reach its Houston terminal for storage or subsequent delivery into Shell’s reversed Houma, LA-to-Houston (Ho-Ho) system (seeShale Daily,April 15). The pipeline has a capacity of 150,000 b/d and is bi-directional. Magellan’s Houston area distribution system has connections at Genoa and Speed Junctions and the company’s Galena Park and East Houston terminals.

Magellan Petroleum Corp. recently received permits from the U.S. Bureau of Land Management (BLM) to drill five wells on its leases at Poplar Dome in Roosevelt County, MT. The permits were the final requirement before the company can begin drilling for its CO2-enhanced oil recovery (EOR) pilot program.

Velocity Midstream Partners has secured long-term commitments from Shell Western E&P for transportation and terminal services for light oil and condensate production from Shell’s position of more than 100,000 acres at the Harrison Ranch (also known as the Piloncillo Ranch) in the Eagle Ford Shale in South Texas.