Killajoules

Magellan Midstream Proceeding with Saddlehorn Pipeline, Open Season Extended through Nov. 20
Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that it plans to proceed with the recently-announced Saddlehorn Pipeline to transport various grades of crude oil from the Niobrara play in northeast Colorado to Magellan’s storage facilities in Cushing, Oklahoma. Binding commitments have been received from a wholly owned subsidiary of Anadarko Petroleum Corporation and Noble Energy, Inc. as part of the pipeline’s ongoing open season. Based on these commitments, Magellan is proceeding with the Saddlehorn Pipeline.

BridgeTex Pipeline to begin Initial Commissioning Process
BridgeTex Pipeline Company, LLC, a company owned by Magellan Midstream Partners, L.P. (NYSE: MMP) and Occidental Petroleum Corporation (NYSE: OXY), plans to begin the commissioning of the BridgeTex Pipeline in the third quarter of 2014. Given the significant need for crude oil transportation service from the Permian Basin to the Houston Gulf Coast area and in order to accommodate requests of committed and prospective spot shippers to provide access to available transportation infrastructure as soon as it becomes available, BridgeTex intends to begin limited commercial operations on the pipeline as part of the initial commissioning process. The company has begun to fill storage tankage at the origin of the system in Colorado City, Texas, and operations to fill the pipeline will begin in the near future.

Magellan Midstream Announces Open Season for Potential Crude Oil Distribution Originating from Galena Park, Texas
Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that it has launched an open season to assess firm customer interest to transport crude oil originating from the partnership’s Galena Park, Texas terminal. Interested customers must submit binding commitments by Jan. 21, 2013.

Magellan Midstream and Occidental Petroleum Corporation Proceed with BridgeTex Pipeline to Deliver Crude Oil from the Permian Ba
Magellan Midstream Partners, L.P. (NYSE: MMP) (“Magellan”) and Occidental Petroleum Corporation (NYSE: OXY) announced today that they are proceeding with the construction of the previously announced BridgeTex Pipeline to transport Permian Basin crude oil from Colorado City, Texas to the Houston Gulf Coast area.

Magellan Midstream and Occidental Petroleum Extend Open Season for Proposed BridgeTex Pipeline to July 18
Magellan Midstream Partners, L.P. (NYSE: MMP) and Occidental Petroleum Corporation (NYSE: OXY) announced today a one-week extension of their binding open season initiated on June 11, 2012 to solicit capacity commitments from shippers to transport crude oil from Colorado City, Texas to the Houston Gulf Coast area on the proposed BridgeTex Pipeline. Binding commitments are now due on July 18, 2012.

Magellan and Occidental Jointly Seek Commitments for Proposed BridgeTex Pipeline from the Permian Basin to Houston
Magellan Midstream Partners, L.P. (NYSE: MMP) and Occidental Petroleum Corporation (NYSE: OXY) announced today the launch of an open season to jointly assess customer interest to transport crude oil from Colorado City, Texas to the Houston Gulf Coast area. Interested customers must submit binding commitments by July 11, 2012.

Magellan Midstream Announces Open Seasons for West Texas Crude Oil Shipments to Houston
Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that it has launched two separate binding open seasons to solicit capacity commitments from shippers to transport crude oil from West Texas to the partnership’s East Houston terminal for further delivery to the Houston and Texas City-area refineries through Magellan’s distribution system.

Copano Energy and Magellan Midstream Form Joint Venture to Deliver Eagle Ford Shale Condensate to Corpus Christi
Copano Energy, L.L.C. (NASDAQ: CPNO) and Magellan Midstream Partners, L.P. (NYSE: MMP) announced today the formation of a joint venture to deliver Eagle Ford Shale condensate to Corpus Christi, Texas. The 50/50 joint venture, known as Double Eagle Pipeline LLC, will construct and own approximately 140 miles of new pipeline to connect an existing 50-mile pipeline segment owned by Copano to Karnes, Live Oak, McMullen and LaSalle Counties of Texas, enabling delivery of condensate to Magellan’s terminal in Corpus Christi. The initial capacity of the pipeline will be 100,000 barrels per day. Double Eagle also will construct a new truck unloading facility along the pipeline near Three Rivers, Texas for deliveries of condensate destined for Corpus Christi.

Magellan Midstream to Expand Houston-Area Crude Oil Pipeline Distribution System
Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that it is further expanding its crude oil pipeline distribution capabilities in the Houston area to deliver domestic crude oil and condensate transported via third-party pipeline systems from the Eagle Ford Shale production area directly to local refineries. The project includes the construction of a 6-mile, 24-inch diameter crude oil pipeline between the pipeline interchanges of Genoa Junction and Speed Junction, which will connect to the 24-inch diameter crude oil pipeline along the Houston Ship Channel that was previously announced as part of the partnership’s Houston-to-El Paso pipeline reversal project, allowing Magellan to further distribute product to the Houston-area refineries.

Magellan Midstream Acquires Full Interest in Cushing Storage Joint Venture
Magellan Midstream Partners, L.P. (NYSE: MMP) announced today that it has acquired the remaining interest in a joint venture for the construction of 4.25 million barrels of crude oil storage in Cushing, Oklahoma from the private investors who had been partial owners. As a result, Magellan is increasing its 2011 expansion capital spending estimate to $215 million from its previous estimate of $170 million for the acquisition cost and the partnership now funding the full project.