Magellan Midstream Partners L P
Magellan Midstream Partners operates refined products and crude oil pipelines and storage terminals across the US Gulf Coast and Mid-Continent. It now functions as a wholly-owned subsidiary of ONEOK Inc., serving energy producers, refiners, and downstream operators via fee-based tariff contracts.
- Company typePublic
- Founded2000
- HeadquartersTulsa, United States
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What Magellan Midstream Partners L P does
Magellan Midstream Partners L.P. was a publicly traded master limited partnership founded in 2000, operating pipelines and storage terminals for refined petroleum products and crude oil across the US Gulf Coast, Mid-Continent, and key producing basins including the Williston, Powder River, and Anadarko regions. Its core product lines span refined products pipelines, crude oil pipelines and terminals, marine storage at Corpus Christi, Galena Park, and Pasadena, liquid pipeline tariffs, and additive/specialty services including transmix agreements and analytical services for aviation turbine fuel, biodiesel, denatured fuel ethanol, diesel, and gasoline. Revenue is generated predominantly through fee-based pipeline transportation tariffs and storage fees, with shippers accessing services through a dedicated Magellan Portal at portal.magellanlp.com.
In September 2023, ONEOK Inc. acquired Magellan for approximately $18.8 billion in an all-cash transaction, integrating it as a wholly-owned subsidiary within ONEOK's Refined Products and Crude segment. Post-acquisition, the combined ONEOK platform spans approximately 60,000 miles of pipeline across natural gas, natural gas liquids, refined products, and crude oil, and has realized synergies exceeding $350 million from the integration. Magellan operates alongside ONEOK's Natural Gas Liquids, Natural Gas Gathering and Processing, and Natural Gas Pipelines segments, providing diversified midstream infrastructure services to energy producers, refiners, and downstream operators. The company's go-to-market is direct enterprise sales through customer portals and dedicated account management rather than traditional demand generation, consistent with a regulated, fee-based infrastructure business model.
Magellan Midstream Partners L P firmographics
Firmographics- Name
- Magellan Midstream Partners L P
- Legal name
- Magellan Midstream Partners L.P.
- Website
- https://magellanlp.com
- Company type
- Public
- Founded year
- 2000
- Operating status
- Acquired
- Headcount range
- 1,001–5,000 employees
- Short description
- Magellan Midstream Partners operates refined products and crude oil pipelines and storage terminals across the US Gulf Coast and Mid-Continent. It now functions as a wholly-owned subsidiary of ONEOK Inc., serving energy producers, refiners, and downstream operators via fee-based tariff contracts.
- Ownership category
- akta.pro rank
Magellan Midstream Partners L P industry classification
Industry- Product category
- Midstream Energy Infrastructure
- NAICS
- Pipeline Transportation of Refined Petroleum Products (48691), Pipeline Transportation of Crude Oil (486110), Petroleum Bulk Stations and Terminals (424710), Pipeline Transportation of Crude Oil (4861)
- SIC
- Pipe Lines (No Natural Gas) (4610), Wholesale-Petroleum Bulk Stations & Terminals (5171)
- akta.pro primary industry
- NGL/LPG Export / Marine Terminal Connection Pipelines (TLAGAEAK)
- akta.pro secondary industries
- NGL/LPG Trunkline / Transmission Pipelines (Interstate/Long-Haul) (TLAGAEAI), NGL / LPG Storage & Terminals (Propane, Butane, Ethane, Y-Grade) (EUALAEAC), Liquid Bulk Storage & Tank Farm Operators (Independent Storage) (TLAHABAM)
Keywords
Where Magellan Midstream Partners L P is headquartered
LocationHeadquarters
- HQ city
- Tulsa
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Magellan Midstream Partners L P business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Supply Chain, Personnel, Technology or R&D
Revenue model
- Pipeline Transportation and Storage Fees: Fee-based revenue from transportation, storage, and handling of refined products and crude oil through pipeline networks. The business model has shifted toward fee-based contracts to provide more stable cash flows.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Fee-based pipeline transportation tariffs |
Distribution channels1 record
Marketing channels2 records
Magellan Midstream Partners L P product offering
Product offeringCore offering
Magellan Midstream Partners operates an extensive pipeline network and storage terminal infrastructure for the transportation, storage, and distribution of refined petroleum products and crude oil. Operating as a master limited partnership (MLP) prior to its September 2023 acquisition by ONEOK Inc. for approximately $18.8 billion, Magellan generated fee-based revenue through tariffs and storage contracts serving energy producers, refiners, and downstream operators across key US production basins including the Williston, Powder River, Anadarko, and Gulf Coast regions.
Product overview
ONEOK operates as a diversified midstream energy infrastructure company with four core business segments: Natural Gas Liquids, Refined Products and Crude, Natural Gas Gathering and Processing, and Natural Gas Pipelines. The company manages approximately 60,000 miles of pipelines and acquired Magellan Midstream Partners in September 2023, expanding into refined products and crude oil pipelines and terminals. The integrated platform provides comprehensive energy transportation, processing, and storage services across key US production basins including the Williston, Powder River, Anadarko, Permian Basin, and Gulf Coast regions. Fee-based contracts increasingly provide stable cash flows while the company maintains sensitivity to upstream drilling activity, commodity volumes, and broader energy demand trends.
Differentiator
Problem solved
Functional benefit
Products and services
- Refined Products and Crude Transportation
- Magellan Pipeline System
- Marine Storage
Quantifiable outcome
- Synergies from Magellan deal exceeded $350 million
Companies that use Magellan Midstream Partners L P
Customer profileSegments1 record
Ideal customer profiles1 record
Magellan Midstream Partners L P technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Magellan Midstream Partners L P partnerships and signals
Strategic signalScale indicators4 records
Recent moves1 record
Expansion highlights5 records
Magellan Midstream Partners L P competitors and assessment
Company assessmentDirect peers
- Energy Transfer: Energy Transfer operates a diversified midstream platform with crude oil, NGL, natural gas, and refined products pipelines across the US, including significant Gulf Coast export infrastructure. It competes directly with Magellan's crude and refined products systems and its marine terminal assets.
- Buckeye Partners: Buckeye Partners operates a network of refined products and crude oil pipelines and terminals, with significant presence in the Northeast and along the US Gulf Coast. It is a direct peer to Magellan's refined products pipeline and terminal business.
- Sunoco LP: Sunoco LP is a master limited partnership focused on the distribution and transportation of refined products and crude oil through pipelines and terminals, primarily in the Northeast, Mid-Continent, and South Texas. It is a direct competitor in refined products logistics with comparable terminal operations.
- Genesis Energy: Genesis Energy operates crude oil pipelines and terminal infrastructure in the Gulf Coast region, including soda ash production and marine transportation. Its Gulf Coast pipeline and terminal operations overlap with portions of Magellan's marine terminal and crude oil business.
- Plains All American Pipeline: Plains All American Pipeline operates one of the largest US crude oil pipeline networks and gathering systems, with extensive footprint in the Permian, Bakken, and other key basins. It is a direct competitor to Magellan's crude oil pipeline business and shares overlapping refined products and terminal operations.
- Enterprise Products Partners: Enterprise Products Partners is one of the largest publicly traded midstream MLPs, operating NGL, crude oil, refined products, and natural gas pipelines and terminals across the US Gulf Coast and major producing basins. It directly competes with Magellan in refined products and crude transportation and storage.
- MPLX: MPLX is a master limited partnership sponsored by Marathon Petroleum, operating crude oil, refined products, and NGL pipelines and terminals primarily serving MPC's refining system. It is a direct competitor in refined products and crude oil transportation and shares the same MLP structure Magellan historically used.
Broad incumbents
- Kinder Morgan: Kinder Morgan is the largest US energy infrastructure company, operating extensive natural gas, crude oil, refined products, and CO2 pipelines along with terminals. It is a broad incumbent competitor with overlapping refined products and crude oil transportation assets, but operates at significantly larger scale with diversified exposure.
- Phillips 66 (Midstream Segment): Phillips 66 operates midstream assets including refined products pipelines, terminals, and export infrastructure tied to its refining system. Its midstream operations directly overlap with Magellan's refined products and crude oil pipeline business, although it is integrated with downstream refining.
- ONEOK (Parent Company): ONEOK acquired Magellan in September 2023 for $18.8 billion and now operates Magellan's assets within its Refined Products and Crude segment. As Magellan's parent and operator, ONEOK represents the consolidated platform that Magellan's assets contribute to, with diversified exposure to NGL, natural gas, and refined products.
Market position
Strengths5 records
Weaknesses2 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Magellan Midstream Partners L P social profiles
Digital presenceMagellan Midstream Partners L P financial estimates
Financial estimateRevenue estimate
Valuation estimate
Magellan Midstream Partners L P leadership team
Management profileNumber of profiles
Profiles7 records
Magellan Midstream Partners L P subsidiaries and ownership
Company hierarchySubsidiaries1 record
Magellan Midstream Partners L P funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Magellan Midstream Partners L P M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Magellan Midstream Partners L P
What does Magellan Midstream Partners L P do?
Magellan Midstream Partners operates an extensive pipeline network and storage terminal infrastructure for the transportation, storage, and distribution of refined petroleum products and crude oil. Operating as a master limited partnership (MLP) prior to its September 2023 acquisition by ONEOK Inc. for approximately $18.8 billion, Magellan generated fee-based revenue through tariffs and storage contracts serving energy producers, refiners, and downstream operators across key US production basins including the Williston, Powder River, Anadarko, and Gulf Coast regions.
Is Magellan Midstream Partners L P a public or private company?
Magellan Midstream Partners L P is a public company. It is classified as corporate owned and is currently acquired.
When was Magellan Midstream Partners L P founded?
Magellan Midstream Partners L P was founded in 2000. It employs 1,001 to 5,000 people.
Where is Magellan Midstream Partners L P based?
Magellan Midstream Partners L P is headquartered in Tulsa, United States, in the North America region.
How does Magellan Midstream Partners L P make money?
One revenue line is on record: pipeline Transportation and Storage Fees.
Who are Magellan Midstream Partners L P's main competitors?
Direct peers on record are Energy Transfer, Buckeye Partners, Sunoco LP, Genesis Energy, Plains All American Pipeline, Enterprise Products Partners and MPLX. Broad incumbents are Kinder Morgan, Phillips 66 (Midstream Segment) and ONEOK (Parent Company).
Does Magellan Midstream Partners L P have an API?
No public API is recorded for Magellan Midstream Partners L P.
What industry is Magellan Midstream Partners L P in?
Magellan Midstream Partners L P's product category is Midstream Energy Infrastructure. Its primary akta.pro industry code is TLAGAEAK, NGL/LPG Export / Marine Terminal Connection Pipelines, with a secondary code of TLAGAEAI, NGL/LPG Trunkline / Transmission Pipelines (Interstate/Long-Haul). Its NAICS code is 48691 and its SIC code is 4610.