Magellan Midstream Partners LP (NYSE: MMP) has agreed to acquire 800 miles of refined petroleum products pipeline from Plains All American Pipeline LP (NYSE: PAA) for US $190 million.
Rocky Mountain pipeline system
The acquisition includes 550 miles of common carrier pipeline that distributes refined petroleum products in Colorado, South Dakota and Wyoming. The system includes 4 terminals with nearly 1.7 million barrels of storage.
New Mexico pipeline system
Magellan also will acquire about 250 miles of common carrier pipeline that transports refined petroleum products north from El Paso, Texas, ...