TULSA, Okla. – Magellan
Midstream Partners, L.P. (NYSE: MMP) announced today that it has reopened the open
season to solicit capacity commitments from shippers to transport refined petroleum
products to Little Rock, Arkansas. Binding commitments are now due by 5:00 p.m.
Central Time on Jan. 16, 2014.
As previously
announced, Magellan is assessing customer interest to transport up to 75,000
barrels per day of gasoline, diesel fuel and jet fuel to Little Rock from the
partnership’s Ft. Smith, Arkansas terminal, providing the Little Rock market
access to refined products from Mid-Continent and Gulf Coast refineries via
Magellan’s extensive refined petroleum products pipeline system.
Subject to the results
of this open season and receipt of the necessary permits and regulatory
approval, the potential pipeline could be operational in the third quarter of
2015.
For customer inquiries
regarding the open season, please contact Fred Neeley at (918) 574-7441 or fred.neeley@magellanlp.com.
More information about the open season is available at www.magellanlp.com/tariffs.aspx.
About Magellan Midstream Partners, L.P.
Magellan
Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily
transports, stores and distributes refined petroleum products and crude oil. The
partnership owns the longest refined petroleum products pipeline system in the
country, with access to more than 40% of the nation’s refining capacity, and
can store over 80 million barrels of petroleum products such as gasoline,
diesel fuel and crude oil. More information is available at www.magellanlp.com.
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Portions of this document constitute forward-looking statements as
defined by federal law. Although management believes any such statements are
based on reasonable assumptions, actual outcomes may be materially different.
Among the key risk factors associated with the project that may have a direct
impact on the partnership’s results of operations and financial condition are:
(1) the ability to obtain all required permits and regulatory approvals on
time; (2) the ability to complete construction of the project on time and at
expected costs; (3) price fluctuations and overall demand for refined petroleum
products; (4) changes in tariff rates or other terms imposed by state or
federal regulatory agencies; (5) the occurrence of operational hazards or
unforeseen interruptions; (6) disruption in the debt and equity markets that
negatively impact the partnership’s ability to finance capital spending and (7)
failure of customers or vendors to meet or continue contractual obligations.
Additional information about issues that could lead to material changes in
Magellan Midstream Partners, L.P.’s performance is contained in the partnership’s
filings with the Securities and Exchange Commission. Magellan Midstream
Partners, L.P. undertakes no obligation to revise these forward-looking
statements to reflect events or circumstances occurring after today’s date.
Contacts: