TULSA , Okla. – Magellan Midstream Partners, L.P. (NYSE: MMP) announced that it has resumed operations on its southern pipeline system from East Houston to Frost, Texas, allowing it to further disseminate refined petroleum products to Dallas and other Texas markets.
In addition, power has been restored to the partnership’s East Houston terminal, and truck loading operations resumed Tues. afternoon.
Magellan continues to make progress at its Galena Park terminal along the Houston Ship Channel. While its operations team continues to safely remove water and assess the status of its infrastructure, partial power has been restored and steps are underway to begin pumping some product out of the facility.
All Magellan Houston-area employees have been contacted and are safe.
To provide its customers added flexibility to transport gasoline and diesel fuel to Texas, Magellan has reconfigured its pipeline from Texas to Oklahoma to provide shippers the option to reverse product from Oklahoma back into Texas as needed.
Magellan’s Gulf Coast marine terminals in Marrero, Louisiana and Corpus Christi, Texas remain fully operational. Its Gibson, Louisiana terminal is operational and ready to resume services for its customers.
The central, northern and mountain regions of the company’s pipeline system continue to receive petroleum products from various supply sources, including direct connection to multiple refineries in Oklahoma, Kansas, Minnesota and Wisconsin. These segments of the pipeline system are operating normally.
While the company continues to assess damage from Hurricane Ike, Magellan does not currently expect damage from the storm to have a material adverse impact on its financial results.
About Magellan Midstream Partners, L.P.
Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership formed to own, operate and acquire a diversified portfolio of energy assets. The partnership primarily transports, stores and distributes refined petroleum products. More information is available at http://www.magellanlp.com.
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Portions of this document may constitute forward-looking statements as defined by federal law. Although the partnership believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Additional information about issues that could lead to material changes in performance is contained in the partnership's filings with the Securities and Exchange Commission.
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