BNET Industries
Market Cap:$4.2B
Last Fiscal Year Sales:$1.2B
- Public
- US
Dow Jones Description
Transporter, Distributor & Warehouser of Refined Petroleum Products & Ammonia
Number of Employees 1,204
Peer Companies
NAICS Code Petroleum Bulk Stations and Terminals: 424710
Recent Events
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Gas shipments boost Magellan's third quarter: The company is planning growth capital projects.
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Magellan Midstream to Announce Third-Quarter Earnings on Nov. 3
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Magellan Midstream Partners Announces Second-Quarter Results Above Guidance
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Magellan Buys Bankrupt Longhorn’s Assets
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Magellan Midstream Partners Announces Addition of Board Member
News & Analysis
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magellan midstream partners l.p. - All News and Analysis
Tulsa-based Magellan Midstream Partners plots $240M pipeline,
Magellan Midstream Partners will spend $240 million to build an 80-mile pipeline, and enhance two Texas terminals, to better serve the nation's largest refinery. The 16-inch-diameter pipeline, expected to go online in 2011, will accommodate up to 150,000 barrels of refined petroleum products from the Port Arthur, Texas,...
Magellan Midstream Partners Plans Major Investment in Texas Energy Infrastructure
ENERGY RESOURCE-12 May 2008-Magellan Midstream Partners Plans Major Investment in Texas Energy InfrastructureC2008 JeraOne - http://www.jeraone.com Magellan Midstream Partners L.P. today announced that it plans to invest $240 million to build energy infrastructure in Texas, providing the partnership a direct pipeline connection to the refinery hub of Port Arthur....
Income rises 88% in 1Q for Tulsa-based Magellan Midstream Partners
Double-digit operating margin growth by its pipelines and terminals led Magellan Midstream Partners to record quarterly net income and operating profit, beating Wall Street expectations. Those results led general partner interest-holder Magellan Midstream Holdings to a 53-percent first-quarter net income. "MMP's very strong performance this quarter...
Tulsa-based Magellan Midstream Partners increases cash distribution
The board of directors for the general partner of Magellan Midstream Partners has increased the partnership's quarterly cash distribution for the first quarter to 67.25 cents per unit. The distribution is up from 61.625 cents for the first quarter of 2007 and 65.75 cents for the fourth quarter....
Research and Markets: Magellan Midstream Partners, L.P. Strategic Analysis Profile Available Now
DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/reports/c87848) has announced the addition of "Magellan Midstream Partners, L.P. Strategic Analysis Profile" to their offering. -- The Magellan Midstream Partners, L.P. Strategic Analysis Profile is a comprehensive profile of the company including both quantitative and qualitative research. The report examines the Magellan...
Tulsa-based Magellan Midstream Partners' net income jumps 26 percent
Higher pipeline tariffs and fees helped Magellan Midstream Partners LP post record profits for both the fourth quarter and year, topping analyst estimates. General partner interest holder Magellan Midstream Holdings also posted strong results Tuesday, beating one Wall Street estimate and just missing another. "You look...
Tulsa-based Magellan Midstream Partners raises quarterly
The board of directors for the general partner of Magellan Midstream Partners LP has increased the quarterly cash distribution for the fourth quarter to 65.75 cents per unit from 60.25 cents per unit for the fourth quarter of 2006. The distribution is payable Feb. 14 to unitholders of...
Tulsa-based Magellan Midstream Partners prepares $85M in terminal
Magellan Midstream Partners will expand two marine terminals and one inland terminal in new capital projects totaling $85 million. This raises the master limited partnership's 2007 capital spending to $170 million, including continuing projects totaling $250 million. To complete these, the Tulsa-based transporter of petroleum products (www.magellanlp.com) has...
Tulsa-based Magellan scores record quarterly profit, bests Wall St.
Strong second-quarter demand for its terminal services led Magellan Midstream Partners to record quarterly profits, besting Wall Street estimates. Chief Executive Don Wellendorf also attributed growth by the Tulsa-based refined petroleum products transporter to favorable product margins, higher transportation rates and returns from newly completed expansion projects. ...
Current Research on Magellan Midstream Partners, L.P.
M2 PRESSWIRE-3 May 2007-Oil and Gas News: Current Research on Magellan Midstream Partners, L.P.C1994-2007 M2 COMMUNICATIONS LTD RDATE:03052007 Having circumnavigated its energy prospects, Magellan Midstream Partners is looking to make even more money as an energy infrastructure enterprise with ammonia and...
Decision Makers
| Name (plus bio) | Position |
|---|---|
| Don R. Wellendorf | CEO |
| John D. Chandler | Chief Financial Officer |
| Mike Mears | COO |
| Brett C. Riley | Senior Vice President, Business Dev |
| Lisa J. Korner | Senior Vice President, HR & Admin |
| Lonny E. Townsend | General Counsel, Senior Vice President, Assistant Secretary & Compliance & Ethics Officer |
| Richard A. Olson | Senior Vice President, Operations & Technology Services |
| Thomas T. Macejko, JR | General Partner |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| James R. Montague | Board of Directors |
| John P. Desbarres | Board of Directors |
| N John Lancaster | Board of Directors |
| Patrick C. Eilers | Board of Directors |
| Organization | Position | Status |
|---|---|---|
| Magellan Midstream Partners, L.P. | CEO | Current |
| Magellan Midstream Holdings, L.P. | Chairman, President & CEO | Current |
| Magellan Midstream Partners, L.P. | President | Current |
| Magellan Midstream Partners, L.P. | Chairman | Current |
| Magellan Midstream Partners, L.P. | Director | Former |
John D. Chandler currently serves as Vice President, Chief Financial Officer (“CFO”) and Treasurer. He also serves as Senior Vice President, CFO and Treasurer of the general partner of Magellan Midstream Partners, L.P. (“MMP”) and Vice President, CFO and Treasurer of MGG Midstream Holdings, L.P. (“MGG Holdings GP”). He was Director of Financial Planning and Analysis and Director of Strategic Development for a subsidiary of The Williams Companies, Inc. (“Williams”) from 1999 to July 2002, including working for MMP since its inception in 2000. Prior to Williams’ merger with MAPCO, Inc. (“MAPCO”), Mr. Chandler held various accounting and finance positions since joining MAPCO in 1992.
| Organization | Position | Status |
|---|---|---|
| Magellan Midstream Partners, L.P. | Chief Financial Officer | Current |
| Magellan Midstream Holdings, L.P. | Chief Financial Officer | Current |
| Magellan Midstream Partners, L.P. | Vice President | Current |
| Magellan Midstream Holdings, L.P. | Treasurer | Current |
| Magellan Midstream Holdings, L.P. | Vice President | Former |
| Magellan Midstream Partners, L.P. | Treasurer | Former |
| Organization | Position | Status |
|---|---|---|
| Magellan Midstream Partners, L.P. | COO | Current |
| Magellan Midstream Partner, L.P | Chief Operating Officer | Current |
| Magellan Midstream Partners, L.P. | Vice President, Transportation | Current |
| Magellan Midstream Partner, L.P | Senior Vice President | Former |
| Terminals, Inc. | Senior Vice President | Former |
| Williams Pipeline Co. | Vice President, Transportation | Former |
| Terminals, Inc. | Vice President of Transportation | Former |
| Magellan Midstream Partners, L.P. | General Partner | Former |
Brett C. Riley currently serves as SVP, Business Development. Prior to joining Magellan in June 2003, Mr. Riley served as Director of Mergers & Acquisitions for a subsidiary of Williams from September 2000 until June 2003. He also served as Director of Financial Planning and Analysis for a subsidiary of Williams from 1998 to 2000. Mr. Riley also worked in various financial positions with MAPCO and Williams since 1992.
| Organization | Position | Status |
|---|---|---|
| Magellan Midstream Partners, L.P. | Senior Vice President, Business Dev | Current |
Lisa J. Korner currently serves as SVP, Human Resources and Administration. Prior to joining Magellan in November 2002, she served as Executive Director of HR Strategy and HRIS for Williams from July 2001 to November 2002 and served as Director of Human Resources from October 1999 to July 2001. Ms. Korner also worked in various human resource management positions with MAPCO and Williams since 1989.
| Organization | Position | Status |
|---|---|---|
| Magellan Midstream Partners, L.P. | Senior Vice President, HR & Admin | Current |
| Magellan Midstream Partners, L.P. | Director of Human Resources | Former |
Lonny E. Townsend currently serves as Vice President, General Counsel, Compliance and Ethics Officer and Assistant Secretary. He also serves as Senior Vice President, General Counsel, Compliance and Ethics Officer and Secretary of MMP and Vice President, General Counsel and Secretary of MGG Holdings GP. Prior to joining MMP in June 2003, Mr. Townsend was Assistant General Counsel for Williams from February 2001 to June 2003. He also served in various other legal positions with Williams since 1991.
| Organization | Position | Status |
|---|---|---|
| Magellan Midstream Partners, L.P. | General Counsel, Senior Vice President, Assistant Secretary & Compliance & Ethics Officer | Current |
| Magellan Midstream Holdings, L.P. | General Counsel, Secretary & Vice President | Current |
| Magellan Midstream Partners, L.P. | Board of Directors | Current |
| Magellan Midstream Partners, L.P. | General Counsel | Former |
Richard A. Olson currently serves as SVP, Operations and Technical Services. Prior to joining Magellan in April 2002, he served as a Vice President of subsidiaries of Williams from 1996 to 2002. Mr. Olson also worked in various management positions with Williams Pipe Line Company (now known as Magellan Pipeline Company, L.P.) since joining Williams in 1981.
| Organization | Position | Status |
|---|---|---|
| Magellan Midstream Partners, L.P. | Senior Vice President, Operations & Technology Services | Current |
| Magellan Midstream Partners, L.P. | General Partner | Former |
| Organization | Position | Status |
|---|---|---|
| Magellan Midstream Partners, L.P. | General Partner | Current |
| Magellan Midstream Partners, L.P. | Board of Directors | Former |
James R. Montague has served as a director of our general partner since July 2001. Since 2003, he has been retired. From 2001 to 2002, Mr. Montague served as President of EnCana Gulf of Mexico LLC, a subsidiary of EnCana Corporation, which is in the business of oil and gas exploration and production. From 1996 to June 2001, Mr. Montague served as President of two subsidiaries of International Paper Company, IP Petroleum Company, an exploration and production oil and gas company, and GCO Minerals Company, a company that manages International Paper Company’s mineral holdings. Mr. Montague also serves as Chairman of the Board of Memorial Hermann Healthcare System. Mr. Montague serves as the non-executive Chairman of the Board of Davis Petroleum Corp., as a director of Atwood Oceanics, Inc. and as a director of the general partner of Magellan Midstream Partners, L.P.
| Organization | Position | Status |
|---|---|---|
| Penn Virginia Resource Partners, L.P. | General Partner | Current |
| Davis Petroleum Corp | Non-Executive Chairman of the Board | Current |
| Memorial Hermann Healthcare System | Chairman of The Board | Current |
| Penn Virginia Resource Partners, L.P. | Board of Directors | Current |
| Atwood Oceanics, Inc. | Director | Current |
| Magellan Midstream Partner, L.P | Board of Directors | Current |
| Magellan Midstream Partners, L.P. | Board of Directors | Current |
| Penn Virginia Gp Holdings | Director | Current |
| International Paper Company | Former |
| Organization | Position | Status |
|---|---|---|
| Penn Virginia Resource Partners, L.P. | General Partner | Current |
| American Electric Power Company, Inc. | Directors and Corporate Governance Committee Member | Current |
| Texas Eastern Products Pipeline Company, LLC | Current | |
| Penn Virginia Resource Partners, L.P. | Board of Directors | Current |
| Magellan Midstream Partners, L.P. | Board of Directors | Current |
| American Electric Power Company, Inc. | Board Member | Current |
| Magellan Midstream Partner, L.P | Board of Directors | Current |
| The Williams Companies, Inc. | Chief Executive Officer | Former |
| Transco Inc. | chief executive officer | Former |
| Transco Inc. | president | Former |
| The Williams Companies, Inc. | President | Former |
| The Williams Companies, Inc. | Chairman | Former |
| American Electric Power Company, Inc. | Human Resources Committee Chairman | Former |
N. John Lancaster is a Managing Director of Riverstone. Prior to joining Riverstone in 2000, Mr. Lancaster was a Director with The Beacon Group, LLC, a privately held firm specializing in principal investing and strategic advisory services in the energy and other industries. Prior to joining Beacon, Mr. Lancaster was a Vice President with Credit Suisse First Boston's Natural Resources Group in Houston, Texas, where he was involved in transactions for companies in all segments of the energy industry, with an emphasis on oil services and oil and gas exploration and production. Mr. Lancaster began his career in energy-related finance at Bankers Trust, where he served in the corporate finance group and published equity research on companies in the unregulated midstream natural gas and oil service sectors of the energy industry.
| Organization | Position | Status |
|---|---|---|
| Consolidatedvalve.Com | Managing Director of Riverstone | Current |
| Riverstone Holdings LLC | Managing Director | Current |
| Dresser Wayne Division | Managing Director of Riverstone | Current |
| Redq Regulators | Managing Director of Riverstone | Current |
| Waukesha Engine Division Dresser Industries | Managing Director of Riverstone | Current |
| Dresser, Inc. | Managing Director | Current |
| Carlyle Holding Corporation | Current | |
| Consolidatedvalve.Com | Board of Directors | Current |
| Masoneilan Company, Ltd. | Board of Directors | Current |
| Magellan Midstream Partner, L.P | Director | Current |
| Magellan Midstream Partners, L.P. | Board of Directors | Current |
| Frontier Corporation | Director | Current |
| Becker Precision Equipment | Board of Directors | Current |
| Titan Specialties Ltd | Board of Directors | Current |
| Dresser Wayne Division | Board of Directors | Current |
| Waukesha Engine Division Dresser Industries | Board of Directors | Current |
| Redq Regulators | Board of Directors | Current |
| Magellan Midstream Holdings, L.P. | Board of Directors | Current |
| The Stallion Co | Director | Current |
| International Logging, Inc. | Board of Directors | Current |
| G.A.S. International, Inc. | Board of Directors | Current |
| Stallionoilfield.Com | Board of Directors | Current |
| Riverstone | Managing Director | Former |
| Bankers Trust Company Inc. | Corporate Finance Group | Former |
| Beacon, Inc | Former | |
| Dresser, Inc. | Board of Directors | Former |
| Beacon Group | Director | Former |
| Harvard Business School | M.B.A. | Former |
| The University of Texas | B.B.A. | Former |
| The University of Texas at Austin | Bba | Former |
Patrick C. Eilers has served as a director of our general partner since June 17, 2003. He also serves as a director of the general partner of Magellan Midstream Holdings, L.P. ("MGG GP") and MGG Midstream Holdings, L.P. ("MGG Holdings GP"). Mr. Eilers is a Managing Director of Madison Dearborn Partners, LLC overseeing the firm's energy, power and chemicals practice. Prior to joining Madison Dearborn Partners in 1999, he served as a Director with Jordan Industries, Inc. and as an Associate with IAI Venture Capital, Inc. He also played professional football with the Chicago Bears, the Washington Redskins and the Minnesota Vikings from 1990 to 1995.
| Organization | Position | Status |
|---|---|---|
| Madison Dearborn Partners LLC | Managing Director | Current |
| Sports Venture Partners L.L.C. | Managing Director, Madison Dearborn Partners | Current |
| Granite Hall Partners, Inc. | Managing Director, Madison Dearborn Partners | Current |
| US Power Generating Company, LLC | Board of Directors | Current |
| Magellan Midstream Partners, L.P. | Board of Directors | Current |
| Magellan Midstream Holdings, L.P. | Board of Directors | Current |
| Magellan Midstream Partner, L.P | Director | Current |
| Sports Venture Partners L.L.C. | Board of Directors | Current |
| Madison Dearborn Partners LLC | Director | Current |
| Granite Hall Partners, Inc. | Board of Directors | Current |
| Sports Venture Partners L.L.C. | Director, Madison Dearborn Partners | Former |
| Jordan Industries, Inc. | NA | Former |
| Chicago Bears Football Club, Inc. | Former | |
| Washington Redskins | Former | |
| Jordan Industries, Inc. | Director | Former |
| Kellogg School of Management at Northwestern University | MBA | Former |
| Northwestern University | M.B.A | Former |
| University of Notre Dame | B.S | Former |
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