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.
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