Plains All American, Magellan Midstream seek $300M-plus from shipper

|About: Magellan Midstream Partners... (MMP)|By:, SA News Editor

BridgeTex Pipeline owners Plains All American Pipeline (NYSE:PAA) and Magellan Midstream Partners (NYSE:MMP) file an amended breach of contract lawsuit seeking more than $300M in damages from Stampede Energy over an oil transport deal.

According to court documents, privately held Stampede failed to meet minimum volume requirements on the pipeline beginning in March 2015, and breached its contract through the following year.

The 300K bbl/day BridgeTex Pipeline runs from the Permian Basin to the Gulf Coast.