Magellan Midstream Partners, L.P.
New York Stock ExchangeCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Aaron L. Milford
- Full Time Employees
- 1,655
- Sector
- Energy
- Industry
- Oil & Gas Midstream
- Address
- One Williams Center Tulsa OK United States of America 74121-2186
- IPO Date
- Mar 19, 2001
- CIK
- 0001126975
- Website
- magellanlp.com
- Similar Companies
- Business
- Magellan Midstream Partners, L.P. (MMP) operates as a master limited partnership that transports, stores, and distributes refined petroleum products, crude oil, and ammonia across the central and eastern United States. The partnership owns the country's longest refined products pipeline system spanning approximately 9,800 miles with 54 connected terminals; 25 independent terminals; two marine terminals, one through a joint venture; a 2,200-mile crude oil pipeline system; an 800-mile crude oil pipeline network; and a 1,100-mile ammonia pipeline system serving the mid-continent region; along with storage capacity exceeding 100 million barrels for petroleum products such as gasoline, diesel fuel, aviation fuel, kerosene, heating oil, and crude oil. It provides fee- and tariff-based services to refiners, wholesalers, retailers, traders, railroads, airlines, regional farm cooperatives, independent and integrated oil companies, and end markets including retail gasoline stations, truck stops, military bases, and commercial airports, with primary operations from the Texas Gulf Coast extending to Colorado, Illinois, Minnesota, North Dakota, and the Midwest. Founded in 2000 and headquartered in Tulsa, Oklahoma, the partnership generates stable revenues from its diversified energy infrastructure assets concentrated in key U.S. refining and demand centers. In September 2023, ONEOK, Inc. completed its $18.8 billion cash-and-stock acquisition of Magellan Midstream Partners, making it a wholly owned subsidiary and integrating its refined products and crude oil assets into ONEOK's broader midstream portfolio spanning natural gas liquids, natural gas gathering and processing, and pipelines. The transaction enhances ONEOK's scale with over 25,000 miles of liquids pipelines, creates synergies exceeding $400 million annually within two to four years through expanded product offerings and export capabilities, and supports strategic shifts toward sustainable fuels and hydrogen corridors while maintaining investment-grade credit ratings. Prior to the acquisition, Magellan executed a $3 billion expansion in 2019 adding crude oil pipeline capacity, storage, rail offloading, and truck and barge loading facilities.
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