Saddlehorn Pipeline announces open season for additional oil pipeline commitments

Sources: Magellan Midstream, Plains All American Pipeline, Anadarko Petroleum

The Saddlehorn oil pipeline will be capable of transporting at least 190,000 bopd of crude oil to storage facilities in Cushing, Okla.

Magellan Midstream Partners, L.P. (NYSE: MMP) ("Magellan"), Plains All American Pipeline, L.P. (NYSE: PAA) ("Plains") and Anadarko Petroleum Corporation (NYSE: APC) ("Anadarko") announced today that Saddlehorn Pipeline Company, LLC ("Saddlehorn") has launched a supplemental open season to seek additional transportation commitments for the Saddlehorn oil pipeline. Interested customers must submit binding commitments by 5:00 p.m. Central Time on Jan. 7, 2016.

The Saddlehorn oil pipeline, which is currently under construction, will be capable of transporting at least 190,000 barrels per day of crude oil from the DJ Basin, and potentially the broader Rocky Mountain area resource plays, to storage facilities in Cushing, Oklahoma owned by Magellan and Plains. The pipeline's Platteville, Coloradoorigin and Cushing destination will each include one million barrels of storage. The pipeline is also being extended from Platteville to Carr, Colorado.

The Platteville-to-Cushing segment of the oil pipeline is expected to be operational during mid-2016, and the Carr-to-Platteville segment is expected to be operational in the fourth quarter of 2016.

As previously announced, Saddlehorn has already received binding commitments from a wholly owned subsidiary of Anadarko and from Noble Energy, Inc.

For customer inquiries or additional information about the open season, please contact Christina Payne of Magellan at (918) 574-7881 or christina.payne@magellanlp.com

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