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
Contact Information

1 Williams Ctr

Tulsa, Oklahoma 74172

www.magellanlp....

(918) 574-7000

NAICS Code Pipeline Transportation of Refined Petroleum Products: 486910

Recent Events

  • Gas shipments boost Magellan's third quarter: The company is planning growth capital projects.

    11/04/09 - Financial Announcement - View Story

  • Magellan Midstream to Announce Third-Quarter Earnings on Nov. 3

    10/04/09 - Financial Announcement - View Story

  • Magellan Midstream Partners Announces Second-Quarter Results Above Guidance

    8/03/09 - Financial Announcement - View Story

  • Magellan Buys Bankrupt Longhorn’s Assets

    8/01/09 - Merger / Acquisition - View Story

  • Magellan Midstream Partners Announces Addition of Board Member

    5/28/09 - Board Member - Entering - View Story

News & Analysis

magellan midstream partners lp - All News and Analysis

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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     MMP $39.50 -0.24 (-0.60% )
Average Volume 277,908
Shares Outstanding 106.59M
Market Cap 4.2B
Year High 40.2
Year Low 22.31
Earnings Per Share 2.04
P/E Ratio 19.36
Dividend 2.84
Yield 7.19
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