Magellan Midstream Partners LP (NYSE: MMP) is evaluating a new pipeline to transport crude and condensate from the Permian Basin to Corpus Christi in Texas, its top executive said during a company earnings call on May 3.
The new pipeline would join a number of other midstream players looking to grow in the largest U.S. shale play.
Magellan also said it was evaluating a further expansion of its 300,000 barrel per day (bbl/d) BridgeTex crude pipeline, which flows from the Permian Basin to the Houston area, to 475,000 bbl/d. The current expansion up to 400,000 bbl/d is expected to be operational by the end of the second quarter.
Today’s featured Forty Under 40 honoree is John Argo, Continental Resources’ vice president of business development who has helped the Oklahoma City-based oil producer reduce its debt by more than $1 billion.
Today’s featured Forty Under 40 honoree is David T. Bateman, chairman and co-CEO of SitePro Inc.—one of the fastest-growing technology companies in the energy space.
Profiles of eight private operators in the Permian Basin featured at Hart Energy’s DUG Permian conference.