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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.

BY JAY F. MARKS Published: November 14, 2010
/articleid/3512448/1/pictures/1237733">Photo - A Magellan Midstream terminal in Tulsa.
A Magellan Midstream terminal in Tulsa.
"We're also a very big player in the storage of crude oil and refined products.”

Wellendorf said increasing demand likely will head to higher storage rates and additional construction.

He said Magellan's assets are the reason the partnership has increased its distribution every quarter this year, a trend that is expected to continue into the future.

"I'd say that's a pretty attractive package,” Wellendorf said.

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