Magellan Midstream Extends Open Season

Midstream service provider Magellan Midstream Partners  (NYSE: MMP  ) has announced that it is extending its open season to solicit capacity commitments from shippers to transport refined petroleum products to Little Rock, Ark. The extension provides potential shippers additional time to make commitments.

Pipeline operators hold open seasons to ensure all interested parties are made aware of the proposed terms for a new pipeline project, and to determine whether there is sufficient customer interest to pursue it. 

Magellan is assessing customer interest for transporting up to 75,000 barrels per day of gasoline, diesel fuel, and jet fuel from its Fort Smith, Ark., terminal via a 160-mile, 12-inch-diameter pipeline to the Little Rock market, giving it access to refined products from Mid-Continent and Gulf Coast refineries.

Potential shippers can submit binding commitments by 5:00 p.m. Central Time on Nov. 20. Subject to a successful conclusion of the open season and securing necessary permits, the potential pipeline could be operational in the third quarter of 2015.

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Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On October 30, 2013, at 10:54 PM, BrokeInDaBurgh wrote:

    I was really struggling to see the point of this article -- it just seemed like the author picked some random news bulletin and reported it here.

    Then I realized -- this is not supposed to be about investing; it is a purchasing opportunity (sort of like a blue light special at Kroger).

    It is like me saying to my buddies at the asbestos factory, "Hey guys, Arby's is selling five roast beef sandwiches for FIVE DOLLARS!!" And then we all run out and buy vast quantities of roast beef sandwiches, which has been clinically shown to reduce the risk of dying from cancer (in the same way that jumping out of a 40th floor window reduces one's risk of dying from cancer).

    So I have placed my order with Magellan -- I ordered 15 gallons of gasoline to be shipped every week, and am prepared to make a binding purchase commitment in that amount.

    I have not heard back from them, but I imagine they will be excited to be that much closer to making this new pipeline a reality.


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