Magellan Midstream Partners, L.P. is an American energy pipeline operator based in Tulsa, Oklahoma that primarily transports, stores and distributes refined petroleum products and crude oil.[2][3] It owns ammonia and petroleum pipelines in the Mid-Continent oil province.[2] 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."[4] The company went public through an initial public offering in February 2006 with a listing on the New York Stock Exchange.[5][2] Company executives, including its CEO Michael Mears, rang the NYSE closing bell on February 8, 2016.[6]
| Company type | Subsidiary |
|---|---|
| NYSE: MMP (2006–2023) | |
| Headquarters | , |
Key people | Aaron L. Milford (CEO & President) |
| Revenue | US$2.32 billion (2022) |
| US$1.01 billion (2022) | |
| US$817 million (2022) | |
| Total assets | US$8.03 billion (2022) |
| Total equity | US$1.90 billion (2022) |
Number of employees | 1,655 (2022) |
| Parent | Oneok |
| Website | magellanlp |
| Footnotes / references [1] | |
In May 2023, midstream energy services provider Oneok agreed to acquire Magellan in a cash-and-stock transaction valued at US$18.8 billion, including debt.[7] The transaction completed in September 2023 and Magellan became a fully owned subsidiary of Oneok.[3]
References
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