Print [ Summary: Magellan Midstream Partners recently completed construction of a new condensate splitter, which is capable of processing 50,000 barrels per day of condensate. Based on the new agreement, Magellan expects to begin commercial operation of the splitter during late second quarter 2017. ]
In Service Date: Q2 2017
Capacity: 50,000 BPD
In conjunction with the new agreement, Magellan will build an additional 300,000 barrels of storage (for a total of 1.5 million barrels of storage to support the condensate splitter) and make other minor modifications to the splitter, increasing the expected capital spending for the project to $330 million from the prior estimate of $300 million. Based on the new spending estimates for the splitter, Magellan expects to generate a 7 times EBITDA multiple on its investment.
Magellan has entered into a new fee-based, take-or-pay agreement with Trafigura Trading LLC for the exclusive use of Magellan’s condensate splitter in Corpus Christi, Texas.
Gulf Coast News
Why $90 Oil Isn’t Bringing Back the Rigs
Higher oil prices are not translating cleanly into a drilling response across U.S. shale, and company disclosures are starting to show why. The issue is not simply capital…
Q1 A&D Transactions Jump to $30B , While Deal Flow Was Down 40%
The first quarter of 2026 has officially defined the "Barbell Era" of American oil and gas. While the total number of deals plummeted by 46% YoY (dropping to…
Wright to U.S. Oil Industry: The Price Signal Is Telling You to Drill
Energy Secretary Chris Wright stood in front of the largest gathering of oil executives in the world this morning and delivered a message that was equal parts market…
An Eagle Ford Team That Cashed Out Is Back for Another Cycle
Houston — January 15, 2026 — Lime Rock Partners, a Houston-based private investment firm specializing in upstream oil and gas, has completed an equity commitment to Athena Energy…
Silver Hill Expands South Texas Footprint with Acquisition of 1776 Energy Assets
Silver Hill Energy Partners has acquired 100 percent of 1776 Energy’s South Texas oil and gas assets, significantly expanding its operated footprint across the Eagle Ford and Austin…