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Magellan Midstream, Plains All American to build $800M pipeline

Feb. 27, 2015 8:47 AM ETMagellan Midstream Partners, L.P. (MMP) StockBy: Carl Surran, SA News Editor2 Comments
  • Magellan Midstream Partners (NYSE:MMP) and Plains All American Pipeline (PAA) say they have formed a 50/50 company to construct, own and operate the Saddlehorn pipeline, which is estimated to cost $800M-$850M
  • Saddlehorn is a ~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, Okla. owned by MMP and PAA.
  • MMP will serve as construction manager and pipeline operator.

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