Magellan (ticker: MMP) also runs crude-oil pipelines in Texas, Oklahoma, and some neighboring states. Additive Services. “This is the kind of business that attracts investors looking for solid, stable income,” Michael Mears, Magellan’s CEO tells Barron’s. (KMI) and The Houston pipeline operator plans to spend a company record $1.1 billion on expansion projects this year. “For investors coming into midstream, it’s one of the first companies to consider,” says Elvira Scotto, an analyst with RBC Capital Markets who has an Outperform rating and $53 price target on the units. Reviews (719) 382-5242 Website. https://www.barrons.com/articles/magellan-midstream-has-a-vital-pipeline-network-and-an-attractive-yield-51593201842. Jet fuel demand remains weak, but it accounts for less than 10% of Magellan’s volumes. Magellan Midstream Partners Our network of independent terminals includes 25 refined products terminals with 6 million barrels of storage located primarily in the southeastern U.S. and connected to third-party common carrier interstate pipelines, including the Colonial and Plantation pipelines. MRx Pipeline is a quarterly report offering clinical insights and competitive intelligence on anticipated specialty and traditional drugs in the pipeline. Product Availability: Refined Pipeline Write to Andrew Bary at email@example.com. Proposed Magellan Pipeline Easement Agreements Are Very Broad. Magellan is the longest common carrier pipeline system for refined products and LPGs in the United States, extending approximately 9,800 miles from the Texas Gulf Coast and covering a 15-state area across the central U.S. Magellan still expects its distributable cash flow of $1 billion to $1.075 billion this year to cover its distribution by a ratio of 1.1 to 1.15 times. © 2020 - Magellan Midstream Partners, L.P. Magellan Midstream Declares Cash Distribution of $1.0275 for Third Quarter 2020, Magellan Midstream to Announce Third-Quarter 2020 Financial Results on Oct. 30, Magellan Midstream to Expand MEH-WTI Designation to Include Midland Quality WTI Crude Oil Delivered from Third-Party Pipelines Originating in the Permian Basin, Magellan Midstream to Participate in Barclays Virtual Investor Conference. It will move ahead with a 60,000 bpd expansion of its Saddlehorn pipeline, which runs from Colorado to the main U.S. storage hub in Cushing, Oklahoma. We’ve talked about pipelines and gas pipelines in other videos. For a pipeline emergency, call 800-720-2417. Menu & Reservations Make Reservations . Receive an email whenever a new article is published. According to the United States Department of State, it owns "83 petroleum products terminals, more than 9,000 miles of refined products pipeline, 800 miles of crude oil pipeline and a 1,100-mile ammonia pipeline system." This weekly email offers a full list of stories and other features in this week's magazine. The pipeline would take crude from Cushing and the Permian to the U.S. Gulf Coast. Magellan also is in talks with another company to jointly develop its planned Voyager pipeline project, Mears said. The more than 9000-mile pipeline, which crosses 14 states and extends from the Gulf Coast throughout the middle part of the United States, can access more than 40 percent of the refinery capacity in the continental U. It is expected to be operational by late 2020. Magellan Midstream Partners is a publicly traded company based in Tulsa, Oklahoma. An error has occurred, please try again later. © 2020 - Magellan Midstream Partners, L.P. Galena Park Dock Capacity Allocation Contract, Seabrook Dock Capacity Allocation Contract. One issue for investors in the pipeline sector is whether MLPs should convert to corporations. Mears says Magellan is disinclined to convert. – Houston Chronicle, Ranchers Raise Concerns on High-Speed Rail Project – The Cattleman Now, Phillips 66, Plains Sanction $2.5 Billion Red Oak Pipeline System, Are You Affected by the Whitewater Pipeline Project in Matagorda & Brazoria Counties, Highest and Best Use as a Pipeline Corridor, Brandt Lane Extension in Fort Bend County. Tariffs According to the Magellan Pipeline’s proposed easement agreements it will be a pipeline that can carry virtually any type of product. It provides 50% or more of the refined products in several states. Magellan has projected that demand for gasoline, which accounts for 60% to 65% of its products volume, will drop 25% in the second quarter and recover to 2019 levels by August. HOUSTON (Reuters) - Pipeline operator Magellan Midstream Partners LP expects new pipelines to ease a crude oil bottleneck in the Permian basin and squeeze the price differential between Midland, Texas, and Houston, cutting spot shipments on two of its Texas pipelines, Chief Executive Officer Mike Mears said on Thursday. In a sector not known for great corporate governance, Magellan stands out, with all of its nine directors elected by unit holders. Magellan’s 10% yield does come with some risk. It’s more or less utility-like on the refined product side.”. For example, Magellan's business is largely in the pipeline space, where it's split about 60%/40% between refined products and oil. The company is also considering “a number of opportunities” to develop a crude export terminal in the Corpus Christi, Texas, area, though it is mostly evaluating working with a partner to jointly develop a facility, rather than an independent project, Mears said. It has 100 million barrels of storage capacity. A quarterly report offering clinical insights and competitive intelligence on anticipated specialty and traditional drugs in the pipeline. Magellan Pipeline Co LP Magellan Pipeline Company, L.P. was founded in 2003. Magellan is the longest common carrier pipeline system for refined products and LPGs in the United States, extending approximately 9,800 miles from the Texas Gulf Coast and covering a 15-state area across the central U.S. Magellan Midstream Partners has gained a reputation for being one of the best-run and financially astute pipeline operators in the country. Reviews (719) 382-5242 Website. All quotes delayed a minimum of 15 minutes. Kinder Morgan This copy is for your personal, non-commercial use only. ©2020 Magellan Health, Inc. All Rights Reserved. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. Magellan said its 275,000 barrel-per-day (bpd) Longhorn pipeline from the Permian to Houston has run near its total capacity for months. Magellan has a moderate debt load of $5 billion and investment-grade bond ratings. “We evaluate that trade-off frequently and at this point, the right answer is to stay a partnership,” he says. “It has a conservative and analytic management team and won’t overpay for acquisitions.”, Mears, the CEO for the past nine years, sounds a bit like Warren Buffett when he says: “We exhibit great discipline when it comes to deploying capital. Get the latest healthcare news and trending insights from the Magellan Insights Blog, Report fraud, waste, abuse, overpayments, or other compliance issues. Philip Hundl. Rising crude volumes on its pipelines and terminals, particularly into the Seabrook Logistics LLC export facility in the Houston area, was one reason Magellan’s second-quarter earnings beat Wall Street estimates by six cents, at $1.11 a unit. Product Availability: Inland “Clearly the differentials are expected to drop and narrow over the remainder of this year and remain at lower levels next year with additional pipeline capacity coming online,” Mears said. Our Galena Park marine terminal is located along the Houston Ship Channel and has 13 million barrels of wholly owned storage capacity and one million barrels of storage capacity that we own through a joint venture. For a pipeline emergency, call 800-720-2417.
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