Magellan Midstream Boosts 2015 Growth Capex, Sees Drop in Quarterly Profit

SUGAR LAND--May 6, 2015--Researched by Industrial Info Resources (Sugar Land, Texas)--Magellan Midstream Partners LP (NYSE:MMP) (Tulsa, Oklahoma) reported it now expects to spend $800 million this year on capital expansion projects, up from its earlier estimate of $650 million, as plans were finalized during first-quarter 2015 for the proposed Saddlehorn pipeline to move oil from Colorado to Oklahoma. Industrial Info is tracking 41 active Magellan Midstream projects worth $1.35 billion.

Within this article: First-quarter earnings results and capital spending plans by Magellan Midstream Partners.

Additional companies: Plains All American Pipeline LP (NYSE:PAA), Anadarko Petroleum Corporation (NYSE:APC)