May 1, 2019 / 6:34 PM / 21 days ago

Magellan 'optimistic' on Cushing-to-Houston pipeline with Midland origin -CEO

May 1 (Reuters) - Magellan Midstream Partners LP believes a proposed Midland origin point will attract sufficient commitments from shippers to proceed with a long-haul pipeline from the U.S. oil storage hub in Cushing, Oklahoma, to Houston, Chief Executive Michael Mears said on Wednesday.

The Houston pipeline operator canceled its Permian Gulf Coast pipeline project in March after it was unable to obtain enough commitments to proceed, but it has received “significant” market feedback its Midland origin would be attractive, Mears told investors in a conference call. (Reporting by Collin Eaton; editing by Jonathan Oatis)

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