Magellan Midstream Partners LP has closed on an acquisition of pipeline assets in Texas and New Mexico from Plains All American Pipeline LP.
The pipeline system includes 250 miles of common carrier pipeline that transports refined petroleum products from El Paso, delivering products north to Albuquerque and transporting products south to the U.S.-Mexico border for delivery within Mexico via a third-party pipeline.
“This pipeline system serves as a natural extension of our existing refined products pipeline system, with current connections in the El Paso market,” said CEO Michael Mears. “With this newly acquired pipeline system, Magellan is able to provide options for customers in Albuquerque and central New Mexico to access refined products from West Texas, Gulf Coast and Mid-Continent refiners.”
The Rocky Mountain acquisition includes 550 miles of common-carrier pipeline that distributes refined petroleum products in Colorado, South Dakota and Wyoming.