MAGELLAN MIDSTREAM AND NAVIGATOR ENERGY SERVICES EXTEND OPEN SEASON FOR PROPOSED VOYAGER CRUDE OIL PIPELINE TO AUGUST 30

sample college applications follow url chat rooms for homework help follow site best grad school essay writing service watch creative writing major ubc https://eagfwc.org/men/cialis-good-price/100/ thesis on gender issues https://hobcawbarony.org/coursework/americas-constitutional-freedoms-essay-typer/27/ https://drtracygapin.com/erections/can-cipro-cure-meningitis/25/ does viagra make erection harder essay christmas day in english effects of long term cialis use https://internexus.edu/published/ap-world-history-change-over-time-essay-2011-movie/51/ cialis buy cialis generic cialis drinking alcohol taking viagra source link argumentative essay samples for ielts argumentative essay about same sex marriage in the philippines https://www.lapressclub.org/hypothesis/examples-descriptive-research-papers/29/ https://drexelmagazine.org/compare/disposable-rocket-essay/18/ here levitra gugulanu enter site how long after accutane can you donate blood angela keoghan illustration essay go here go here an example of a character analysis essay can you get addicted to cialis lowest cost viagra 100mg Tulsa, OK and Dallas, TXMagellan Midstream Partners, L.P. (NYSE: MMP) and Navigator Energy Services announced today an extension of the open season to solicit commitments from shippers for the proposed Voyager Pipeline to transport crude oil from Cushing, Oklahoma and Midland, Texas to Houston. Based on growing industry interest in the project, including from additional potential project sponsors, binding commitments are now due on August 30, 2019 by 12:00 p.m. Central Daylight Time.

The level of shipper support for the Midland origin addition, announced in March, combined with customer requests for additional grades of crude oil and condensate at Cushing, requires further evaluation of the scope of the Voyager project.  Current indications are driving the construction of 20-inch diameter pipelines from both Magellan’s Cushing and Midland terminals to Magellan’s terminal in Frost, Texas. From Frost, a 24-inch diameter pipeline would be constructed to Magellan’s terminal in East Houston; but may be amended based upon final commitments.

At the Cushing origin, the Voyager Pipeline would provide shippers optionality to originate deliveries from the Magellan-operated Saddlehorn Pipeline serving the Rockies and Bakken production regions, and from Navigator’s Glass Mountain Pipeline serving the Mid-Continent basin, as well as other connections within the strategic Cushing crude oil hub. Voyager is also evaluating additional storage and operational capability to move new grades of crude oil and condensate to the Gulf Coast. 

The Midland origin enhances the project’s supply flexibility from the prolific Permian Basin.  As a result, Voyager is reviewing facility options consistent with shipper demand, which could include the repurposed use of existing Magellan pipeline and right-of-way, or new-build pipeline.  At the destination, Magellan’s comprehensive Houston crude oil distribution system could further deliver the multiple grades of crude oil to the Houston and Texas City refineries, or to crude oil export facilities such as the terminal owned by Seabrook Logistics, LLC, which is owned 50% by Magellan.

As proposed, the Voyager Pipeline is expected to have an initial capacity of up to 400,000 barrels per day, with the ability to expand if warranted by industry demand. Subject to receipt of sufficient customer commitments and all necessary permits and approvals, the pipeline is expected to be operational in early 2021.

For customer inquiries or additional information about the Voyager pipeline open season, please contact Brett Hunter of Magellan at (918) 574-7477 or brett.hunter@magellanlp.com. More information about the open season is available at https://www.magellanlp.com/WhatWeDo/LiquidPipelineTariffs.aspx

About Magellan Midstream Partners, L.P.

Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. Magellan owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation’s refining capacity, and can store more than 100 million barrels of petroleum products such as gasoline, diesel fuel and crude oil. More information is available at www.magellanlp.com.

About Navigator Energy Services   

Headquartered in Dallas, Navigator Energy Services provides oil producers with comprehensive midstream services including crude oil gathering, transportation and storage. Navigator is focused on domestic midstream opportunities in both developing and mature producing areas. To learn more about Navigator, please visit www.navigatorenergyservices.com.

 

Contact Information

Magellan:

Brett Hunter, Commercial

Paula Farrell, Investor Relations

Bruce Heine, Media Relations

(918) 547-7477

(918) 574-7650

(918) 574-7010

brett.hunter@magellanlp.com

paula.farrell@magellanlp.com  

bruce.heine@magellanlp.com

Navigator:

Meredith Howard, Media Relations

(210) 737-4478

meredith@redbirdpr.com

Portions of this document constitute forward-looking statements as defined by federal law. Although management of Magellan Midstream Partners, L.P. and Navigator Energy Services believe such statements are based on reasonable assumptions, actual outcomes may be materially different. Among the key risk factors that may have a direct impact on the opportunity described in this news release are: (1) the ability to negotiate and sign definitive agreements with potential customers; (2) the ability to obtain all required rights-of-way, permits and other governmental approvals on a timely basis; (3) price fluctuations and overall demand for crude oil and condensate; (4) the ability to establish and collect acceptable tariff rates for the Voyager pipeline or other rates or terms imposed by state or federal regulatory agencies; (5) the occurrence of an operational hazard or unforeseen interruption; (6) disruption in the debt and equity markets that negatively impacts the companies’ abilities to finance capital spending and (7) willingness to incur or failure of customers or vendors to meet or continue contractual obligations related to this potential pipeline. Additional information about issues that could lead to material changes in performance is contained in Magellan’s filings with the Securities and Exchange Commission, including Magellan’s Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2018 and subsequent reports on Forms 8-K and 10-Q. You are urged to carefully review and consider the cautionary statements and other disclosures made in those filings, especially under the heading “Risk Factors.” Forward-looking statements made by the companies in this release are based only on information currently known, and the companies undertake no obligation to revise any forward-looking statements to reflect events or circumstances learned of or occurring after today's date.