Magellan expects Bridgetex pipeline to average 200,000 bpd for 2015
NEW YORK - Magellan Midstream Partners LP said on Thursday it expects its 300,000-barrel-per-day BridgeTex crude oil pipeline to run at an average of 200,000 bpd for the year due to the current pricing environment.
The company said on its second-quarter earnings call that volumes in the second quarter were around 260,000 bpd, particularly on strong economics on pipelines that go from Midland, Texas to Houston.
“We do not expect the BridgeTex volumes will continue at the levels attained in the second quarter,” Aaron Milford, the company’s chief financial officer, told analysts on the call.
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