Company:Magellan Midstream Partners
| Type | Subsidiary |
|---|---|
| NYSE: MMP (2006–2023) | |
| Headquarters | Tulsa, Oklahoma , |
Key people | Aaron L. Milford (CEO & President)[1] |
| 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 [2] | |
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.[3][4]
It owns ammonia and petroleum pipelines in the Mid-Continent oil province.[3] 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."[5]
History
The company went public through an initial public offering in February 2006 with a listing on the New York Stock Exchange.[6][3] Company executives, including its CEO Michael Mears, rang the NYSE closing bell on February 8, 2016.[7]
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.[8][9] The transaction completed in September 2023 and Magellan became a fully owned subsidiary of Oneok.[4]
References
- ↑ "Magellan Names Aaron Milford New CEO; Michael Mears To Retire". 26 January 2022. https://www.rttnews.com/3257443/magellan-names-aaron-milford-new-ceo-michael-mears-to-retire.aspx?Arch=1.
- ↑ "2022 Annual Report (Form 10-K)". US Securities and Exchange Commission. February 21, 2023. https://www.sec.gov/ix?doc=/Archives/edgar/data/1126975/000112697523000064/mmp-20221231.htm.
- ↑ 3.0 3.1 3.2 "Magellan Midstream Partners LP". https://www.bloomberg.com/quote/MMP:US. Retrieved February 8, 2016.
- ↑ 4.0 4.1 Dekker, Michael (September 26, 2023). "ONEOK's $18.8B buyout of Magellan becomes official". Tulsa World. https://tulsaworld.com/news/local/business/oneoks-18-8b-buyout-of-magellan-becomes-official/article_15216518-5bbf-11ee-b125-3f3e3eabec06.html.
- ↑ "Magellan (Magellan Pipeline)". https://2009-2017.state.gov/e/enr/applicant/applicants/c59882.htm. Retrieved February 8, 2016.
- ↑ Wilmoth, Adam (February 11, 2006). "Magellan Holdings' IPO raises $539 million". The Oklahoman. https://www.oklahoman.com/story/news/2006/02/11/magellan-holdings-ipo-raises-539-million/61901560007/.
- ↑ "Events". https://www.nyse.com/events/2757770251/Magellan-Midstream-Partners-LP-NYSE-MMP-Celebrates-their-15th-Anniversary-of-Listing-on-the-NYSE. 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. https://www.reuters.com/markets/deals/oneok-buy-magellan-midstream-partners-deal-valued-188-billion-2023-05-14/.
- ↑ Korth, Robby (2023-05-16). "Oklahoma pipeline company ONEOK will acquire Magellan Midstream Partners in $18.8 billion deal" (in en). https://www.kosu.org/energy-environment/2023-05-16/oklahoma-pipeline-company-oneok-will-acquire-magellan-midstream-partners-in-18-8-billion-deal.
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