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Stock Market & Financial Investment News

News Breaks
April 3, 2014
09:07 EDTMMPMagellan Midstream's pipeline project in Little Rock advances to next phase
Magellan Midstream received sufficient commitments through its recent open season to proceed to the next phase for its potential pipeline to Little Rock, Arkansas. Management is currently negotiating an agreement to utilize a portion of an existing third-party pipeline. Subject to finalizing this agreement and receipt of the necessary permits and regulatory approval for the pipeline construction, the potential Little Rock pipeline could be operational in late 2015.
News For MMP From The Last 14 Days
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February 27, 2015
08:39 EDTMMPMagellan Midstream and Plains All American to build Saddlehorn Pipeline
Magellan Midstream (MMP) and Plains All American (PAA) announced that they have formed Saddlehorn Pipeline Company, a 50/50 limited liability company, to construct, own and operate the Saddlehorn pipeline, an approximately 550-mile pipeline that will transport various grades of crude oil from the DJ Basin, and potentially the broader Rocky Mountain area resource plays, to storage facilities in Cushing, OK owned by Magellan and Plains. An extension to Carr, CO is also under consideration for connection to existing crude oil assets owned by Plains in that region. The project is currently estimated to cost between $800M and $850M. Magellan will serve as construction manager and pipeline operator. Subject to receipt of necessary permits and regulatory approvals, the Saddlehorn pipeline is expected to be operational during mid-2016.

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