Oneok to Add Refined Products, Crude Oil Transportation Services with $18.8B Magellan Deal

Oneok to Add Refined Products, Crude Oil Transportation Services with $18.8B Magellan Deal

Natural gas midstream company Oneok Inc. on Monday announced that it has agreed to purchase Magellan Midstream Partners LP for $18.8 billion, giving the Tulsa-based firm entry into the transportation of crude oil and refined products. Under the deal, Oneok would acquire all outstanding units of Magellan in a cash-and-stock transaction, resulting in a combined…

May 15, 2023
Magellan Sees Continued Strong Petroleum Demand Trends Through 2022

Magellan Sees Continued Strong Petroleum Demand Trends Through 2022

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…

February 8, 2022

ICE, Magellan Launch Dock Capacity Auction for Permian WTI Futures

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.

August 15, 2019

BridgeTex Gains Canada’s OMERS as Partner in $1.44B Deal with Plains, Magellan

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.

August 21, 2018

Industry Brief

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.

August 22, 2013

Magellan Prepping Williston Basin EOR Pilot Program

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.

August 13, 2013

Velocity Midstream Adds to Eagle Ford Infrastructure Plans

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.

May 19, 2011