Magellan becoming a player in pipeline, storage market
A $350 million pipeline acquisition has helped turn Magellan Midstream Partners LP into a player on the pipeline and storage market. It also pushed the Tulsa company to No. 4 on this year's Oklahoma Inc. list.
Magellan Midstream Partners LP set the stage for a big year in July 2009 when it acquired a 700-mile pipeline system in Texas.CEO Don Wellendorf said the $350 million acquisition has generated a lot of money for the partnership.
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