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Magellan Midstream Partners to Purchase Longhorn Pipeline.

Publication: Energy Weekly News
Publication Date: 14-AUG-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Magellan Midstream Partners, L.P. (NYSE:MMP) announced that its purchase of substantially all of the assets of Longhorn Partners Pipeline, L.P. has been approved by the bankruptcy court. Closing is set for July 29, with no additional approvals required.

The 700-mile common carrier pipeline system transports refined petroleum products from Houston to El Paso, Texas. A terminal in El Paso, comprised of a 5-bay truck loading rack and over 900,000 barrels of storage, is included in the purchase. This terminal serves local...

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