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Publicly traded energy pipeline partnership Magellan Midstream Partners LP (MMP - Analyst Report) has extended the open season period for its Arkansas pipeline project again. This second extension is from Nov 4, 2013 to Dec 13, 2013.

The partnership started the open season on Sep 16, 2013 and it was expected to continue till Oct 16, 2013. However, on Oct 14, 2013 Magellan Midstream extended the season for the first time to Nov 4, 2013.

The open season is for shippers willing to transport refined petroleum products from Fort Smith, Ark.-based terminal of Magellan Midstream to the state’s Little Rock market.  

The 160-mile pipeline will have a capacity to carry roughly 75,000 barrels per day of refined petroleum products like gasoline, jet fuel and diesel fuel. The partnership expects the pipeline to be online by third-quarter 2015, depending on the open season response and necessary approvals from the regulators.

Tulsa, Oklahoma-based Magellan Midstream is a master limited partnership that owns an attractive portfolio of energy infrastructure assets. The properties generate stable and recurring fee- and tariff-based revenues.This includes the longest U.S. refined petroleum products pipeline system, access to more than 40% of refining capacity in the continental U.S. along with imports, and 85 petroleum terminals with more than 80 million barrels of storage. The partnership primarily transports, stores, and distributes refined petroleum products and, to a lesser extent, ammonia.

Magellan currently holds a Zacks Rank #2 (Buy), implying that it is expected to outperform the broader U.S. equity market over the next one to three months.

One can also consider better-ranked energy players like Harvest Natural Resources Inc. (HNR - Snapshot Report), Bonanza Creek Energy Inc. (BCEI - Snapshot Report) and Matador Resources Co. (MTDR - Snapshot Report) that offer value. All the stocks sport a Zacks Rank #1 (Strong Buy).

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