Magellan Midstream Partners, L.P. recently announced that it will expand the capacity of its Saddlehorn pipeline system.
Currently, Saddlehorn pipeline has a capacity of carrying 190,000 barrels per day (bpd) of crude oil and condensate. With this upgrade, the pipeline’s volume will be enlarged by 100,000 bpd, resulting in the new total capacity of 290,000 bpd.
Owing to growth in volume per shippers’ demand during a July open season, Magellan Midstream has decided to expand the size of its pipeline.
The Saddlehorn pipeline transports crude oil and natural gas liquids from DJ and Powder River Basins, CO to the chief storage facilities in Cushing, OK.
Subsequent to the inclusion of incremental pipeline and storage capabilities, this Saddlehorn pipeline operator, currently carrying a Zacks Rank #2 (Buy), intends to make its higher capacity pipeline accessible by this 2020 end.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Magellan Midstream collectively owns Saddlehorn Pipeline along with Plains All American Pipeline (PAA - Free Report) and Western Midstream Partners (WES - Free Report) .
Coupled with the capacity extension demanded by shippers, the Houston-based Noble Midstream Partners LP through its subsidiary Black Diamond Gathering LLC will have a choice to purchase up to a 20% ownership interest in Saddlehorn with Magellan Midstream and Plains All American selling up to a 10% interest each to Noble Midstream if the option is exercised.
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Magellan Midstream Partners, L.P. recently announced that it will expand the capacity of its Saddlehorn pipeline system.
Currently, Saddlehorn pipeline has a capacity of carrying 190,000 barrels per day (bpd) of crude oil and condensate. With this upgrade, the pipeline’s volume will be enlarged by 100,000 bpd, resulting in the new total capacity of 290,000 bpd.
Owing to growth in volume per shippers’ demand during a July open season, Magellan Midstream has decided to expand the size of its pipeline.
The Saddlehorn pipeline transports crude oil and natural gas liquids from DJ and Powder River Basins, CO to the chief storage facilities in Cushing, OK.
Subsequent to the inclusion of incremental pipeline and storage capabilities, this Saddlehorn pipeline operator, currently carrying a Zacks Rank #2 (Buy), intends to make its higher capacity pipeline accessible by this 2020 end.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Magellan Midstream collectively owns Saddlehorn Pipeline along with Plains All American Pipeline (PAA - Free Report) and Western Midstream Partners (WES - Free Report) .
Coupled with the capacity extension demanded by shippers, the Houston-based Noble Midstream Partners LP through its subsidiary Black Diamond Gathering LLC will have a choice to purchase up to a 20% ownership interest in Saddlehorn with Magellan Midstream and Plains All American selling up to a 10% interest each to Noble Midstream if the option is exercised.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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