2010-08-10-2010-08-06-2010-09-02

Acquired 7.8 million barrels of crude oil storage in Cushing, & more than 100 miles of petroleum pipeline.

Magellan Midstream Partners LP, Tulsa, Okla., (NYSE: MMP) has acquired 7.8 million barrels of crude oil storage and more than 100 miles of active petroleum pipelines from BP Pipelines (North America) Inc. for $289 million.

In addition, the partnership will acquire certain crude oil tank working inventory at fair market value, which is currently estimated to be approximately $50 million.

Magellan Midstream Partners is a publicly traded partnership formed to own, operate and acquire a diversified portfolio of energy assets.