Magellan Midstream Proceeds to Next Project Phase for Potential Little Rock Pipeline PR Newswire TULSA, Okla., April 3, 2014 TULSA, Okla., April 3, 2014 /PRNewswire/ -- Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that it received sufficient commitments through its recent open season to proceed to the next phase for its potential pipeline to Little Rock, Arkansas. The partnership continues to finalize the scope and engineering estimates for this potential project, which may include utilization of an existing third-party pipeline for a portion of the route. As previously announced, Magellan has proposed to transport up to 75,000 barrels per day of gasoline, diesel fuel and jet fuel to Little Rock from the partnership's Ft. Smith, Arkansas terminal, providing the Little Rock market access to refined products from Mid-Continent and Gulf Coast refineries via Magellan's extensive refined petroleum products pipeline system. Management is currently negotiating an agreement to utilize a portion of an existing third-party pipeline, which will be extended to Magellan's Ft. Smith terminal and the Little Rock market with newly-constructed pipeline. Subject to finalizing this agreement and receipt of the necessary permits and regulatory approval for the pipeline construction, the potential Little Rock pipeline could be operational in late 2015. 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. The partnership 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 90 million barrels of petroleum products such as gasoline, diesel fuel and crude oil. More information is available at www.magellanlp.com. Portions of this document constitute forward-looking statements as defined by federal law. Although management believes any such statements are based on reasonable assumptions, actual outcomes may be materially different. Among the key risk factors associated with the project that may have a direct impact on the partnership's results of operations and financial condition are: (1) the ability to obtain all required permits and regulatory approvals on time; (2) the ability to complete an agreement for use of a third-party pipeline and to complete construction of the project on time and at expected costs; (3) price fluctuations and overall demand for refined petroleum products; (4) changes in tariff rates or other terms imposed by state or federal regulatory agencies; (5) the occurrence of operational hazards or unforeseen interruptions; (6) disruption in the debt and equity markets that negatively impact the partnership's ability to finance capital spending and (7) failure of customers or vendors to meet or continue contractual obligations. Additional information about issues that could lead to material changes in Magellan Midstream Partners, L.P.'s performance is contained in the partnership's filings with the Securities and Exchange Commission. Magellan Midstream Partners, L.P. undertakes no obligation to revise these forward-looking statements to reflect events or circumstances occurring after today's date. Contact: Investors: Media: Paula Farrell Bruce Heine (918) 574-7650 (918) 574-7010 email@example.com firstname.lastname@example.org SOURCE Magellan Midstream Partners, L.P. Website: http://www.magellanlp.com
Magellan Midstream Proceeds to Next Project Phase for Potential Little Rock Pipeline
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