Magellan Midstream Partners

Magellan Midstream Partners, L.P.
Company typeSubsidiary
NYSE: MMP (2006–2023)
Headquarters
Tulsa, Oklahoma
,
United States
Key people
Aaron L. Milford
(CEO & President)
RevenueDecrease US$2.32 billion (2022)
Decrease US$1.01 billion (2022)
Decrease US$817 million (2022)
Total assetsIncrease US$8.03 billion (2022)
Total equityIncrease US$1.90 billion (2022)
Number of employees
1,655 (2022)
ParentOneok
Websitemagellanlp.com
Footnotes / references
[1]

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]

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]

  1. ^ "2022 Annual Report (Form 10-K)". US Securities and Exchange Commission. February 21, 2023.
  2. ^ a b c "Magellan Midstream Partners LP". Bloomberg Business. Retrieved February 8, 2016.
  3. ^ a b Dekker, Michael (September 26, 2023). "ONEOK's $18.8B buyout of Magellan becomes official". Tulsa World.
  4. ^ "Magellan (Magellan Pipeline)". United States Department of State. Retrieved February 8, 2016.
  5. ^ Wilmoth, Adam (February 11, 2006). "Magellan Holdings' IPO raises $539 million". The Oklahoman.
  6. ^ "Events". New York Stock Exchange. Retrieved February 8, 2016.
  7. ^ Narayan, Jyoti; French, David (May 15, 2023). "US pipeline operator ONEOK moves into oil, products with $18.8 billion Magellan deal". Reuters.