Magellan Midstream Partners

Last updated
Magellan Midstream Partners, L.P.
Company type Subsidiary
NYSE: MMP (2006–2023)
Headquarters
Tulsa, Oklahoma
,
United States
Key people
Aaron L. Milford
(CEO & President) [1]
RevenueDecrease2.svg US$2.32 billion (2022)
Decrease2.svgUS$1.01 billion (2022)
Decrease2.svgUS$817 million (2022)
Total assets Increase2.svgUS$8.03 billion (2022)
Total equity Increase2.svgUS$1.90 billion (2022)
Number of employees
1,655 (2022)
Parent Oneok
Website magellanlp.com
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

  1. ↑ "Magellan Names Aaron Milford New CEO; Michael Mears To Retire". RTT News. 26 January 2022. Retrieved 11 September 2025.
  2. ↑ "2022 Annual Report (Form 10-K)". US Securities and Exchange Commission. February 21, 2023.
  3. 1 2 3 "Magellan Midstream Partners LP". Bloomberg Business. Retrieved February 8, 2016.
  4. 1 2 Dekker, Michael (September 26, 2023). "ONEOK's $18.8B buyout of Magellan becomes official". Tulsa World.
  5. ↑ "Magellan (Magellan Pipeline)". United States Department of State. Retrieved February 8, 2016.
  6. ↑ Wilmoth, Adam (February 11, 2006). "Magellan Holdings' IPO raises $539 million". The Oklahoman.
  7. ↑ "Events". New York Stock Exchange. Retrieved February 8, 2016.
  8. ↑ Narayan, Jyoti; French, David (May 15, 2023). "US pipeline operator ONEOK moves into oil, products with $18.8 billion Magellan deal". Reuters.
  9. ↑ Korth, Robby (2023-05-16). "Oklahoma pipeline company ONEOK will acquire Magellan Midstream Partners in $18.8 billion deal". KOSU. Retrieved 2025-09-11.



This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.