Magellan Midstream Launches Open Season for Potential Kansas-to-Colorado Refined Products Pipeline Expansion
TULSA, Okla., Nov. 18, 2021 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that it has launched an open season to assess firm customer interest in the potential expansion of the partnership's refined petroleum products pipeline system from Kansas to Colorado. Interested customers must submit binding commitments by 5:00 p.m. Central Time on Dec. 17.
The approximately 450-mile pipeline segment currently transports various grades of gasoline, diesel fuel and jet fuel from El Dorado, Kansas to Denver, Colorado. Magellan's pipeline network is capable of further distributing these essential fuels safely and efficiently to key markets within Colorado, including Colorado Springs, the greater Denver metropolitan area as well as the Denver International Airport.
Expansion of the pipe segment would provide the Colorado market additional access to refined products from Midcontinent and Gulf Coast refineries via Magellan's extensive pipeline system.
The capital-efficient expansion would increase the pipeline's capacity by an estimated 5,000 barrels per day (bpd), to a new total capacity of approximately 65,000 bpd. The higher capacity could be available by late 2022 following the addition of incremental pumping capabilities.
For customer inquiries about the open season, please contact Kelly Taylor at (918) 574-7713 or [email protected].
About Magellan Midstream Partners, L.P.
Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. The partnership owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation's refining capacity, and can store more than 100 million barrels of petroleum products such as gasoline, diesel fuel and crude oil. More information is available at www.magellanlp.com.
Except for statements of historical fact, this news release constitutes forward-looking statements as defined by federal law. Although management of Magellan Midstream Partners, L.P. believes such statements are based on reasonable assumptions, such statements necessarily involve known and unknown risks and uncertainties that may cause actual outcomes to be materially different. Factors that could lead to material changes in performance are described in the partnership's filings with the Securities and Exchange Commission, including the partnership's Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2020 and subsequent reports on Forms 8-K and 10-Q. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, especially under the headings "Risk Factors" and "Forward-Looking Statements." Forward-looking statements made by the partnership in this release are based only on information currently known, and the partnership undertakes no obligation to revise its forward-looking statements to reflect future events or circumstances.
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SOURCE Magellan Midstream Partners, L.P.