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