Magellan Midstream Announces Open Season for Potential Expansion of Western Leg of Texas Refined Products Pipeline System

TULSA, Okla., March 9, 2018 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that it is considering an expansion of the western leg of its refined products pipeline system in Texas and has launched an open season to assess customer interest. Interested customers must submit binding commitments by 5:00 p.m. Central Time on May 9, 2018.

The proposed expansion would increase Magellan's capability to transport refined petroleum products, such as gasoline and diesel fuel, from Gulf Coast refineries to demand centers in Abilene, Midland/Odessa and El Paso, Texas, with further optionality to access markets in the states of New Mexico and Arizona, as well as international markets in Mexico via connections to other pipelines owned by Magellan and third parties. The pipeline's current capacity of 100,000 barrels per day (bpd) could increase to 140,000 bpd following the expansion.

Subject to the results of this open season and receipt of all necessary permits and approvals, the expanded capacity could be operational by mid-2020.

For customer inquiries about the open season, please contact Tony Wysocki at [phone] or [e-mail]. More information about the open season is available at www.magellanlp.com/whatwedo/liquidpipelinetariffs.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 nearly 50% of the nation's refining capacity, and can store more than 100 million barrels of petroleum products such as gasoline, diesel fuel and crude oil. More information is available at www.magellanlp.com.

Portions of this document constitute forward-looking statements as defined by federal law. Although management of Magellan Midstream Partners, L.P. believes such statements are based on reasonable assumptions, actual outcomes may be materially different. Among the key risk factors that may have a direct impact on the opportunity described in this news release are: (1) the ability to negotiate and sign definitive agreements with potential customers; (2) the ability to obtain all required rights-of-way, permits and other governmental approvals on a timely basis; (3) price fluctuations and overall demand for refined petroleum products; (4) changes in the partnership's tariff rates or other terms imposed by state or federal regulatory agencies; (5) the occurrence of an operational hazard or unforeseen interruption; (6) disruption in the debt and equity markets that negatively impacts the partnership's ability to finance its capital spending and (7) willingness to incur or failure of customers or vendors to meet or continue contractual obligations related to this potential expansion. 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, including the partnership's Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2017 and subsequent reports on Forms 8-K. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, especially under the heading "Risk Factors." Forward-looking statements made by the partnership in this release are based only on information currently known, and the partnership undertakes no obligation to revise its forward-looking statements to reflect events or circumstances learned of or occurring after today's date.

Contact:	Investors:	Media:
	Paula Farrell	Bruce Heine
	[phone]	[phone]
	[e-mail]	[e-mail]

  

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SOURCE Magellan Midstream Partners, L.P.

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