Who Owns Magellan Midstream?
Magellan Midstream is owned by ONEOK, Inc. (NYSE: OKE), which acquired Magellan Midstream Partners in September 2023 for approximately $18.8 billion. Founded in 2000 in Tulsa, Oklahoma, the brand operates the largest refined petroleum products pipeline system in the US — roughly 9,800 miles of pipelines plus terminals — now inside ONEOK's Refined Products and Crude segment. Parent FY2025 revenue was $33.6 billion.
Magellan Midstream Timeline
United StatesOfficial Website
Who Owns Magellan Midstream?
- Parent Company: ONEOK, Inc.
- Ownership Type: Wholly owned
- Acquisition Year: 2023
- Company Type: Publicly Traded
- Stock Ticker: NYSE: OKE
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Magellan Midstream | ONEOK, Inc. | Wholly owned |
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History of Magellan Midstream
- Founded: 2000
- Founders: Williams Companies, Magellan Midstream Holdings
- Acquired by ONEOK, Inc.: 2023
Magellan Midstream Partners was formed in 2000 in Tulsa when the Williams Companies combined its Williams Energy Partners and Magellan Midstream Holdings pipeline partnerships. The business inherited refined products and ammonia pipelines originally built by predecessors including MAPCO.
The partnership grew into the largest refined petroleum products pipeline operator in the US, moving gasoline, diesel, and jet fuel through a roughly 9,800-mile network from Gulf Coast refineries to Midwestern and Southwestern markets, plus crude oil lines and marine terminals.
ONEOK announced the acquisition in May 2023 and closed it in September 2023 for approximately $18.8 billion — the anchor transaction of ONEOK's expansion into a four-commodity integrated midstream platform.
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About ONEOK, Inc.
What does ONEOK do?
ONEOK gathers, processes, transports, and stores natural gas, natural gas liquids, refined petroleum products, and crude oil through an approximately 60,000-mile pipeline network in the United States.
Is ONEOK publicly traded?
Yes. ONEOK, Inc. trades on the NYSE under ticker OKE and is a component of the S&P 500.
What does ONEOK stand for?
The name combines Oklahoma and Kansas, reflecting the company's original service territory. It was adopted in 1980 when Oklahoma Natural Gas Company reorganized.
Who founded ONEOK?
Dennis T. Flynn and Charles B. Ames founded the company in 1906 as Oklahoma Natural Gas Company in Oklahoma.
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What is ONEOK's revenue?
ONEOK reported FY2025 revenue of $33.6 billion, up 55% year over year on a full contribution from the EnLink acquisition. Net income attributable to ONEOK was $3.39 billion and adjusted EBITDA was $8.02 billion.
What companies has ONEOK acquired?
Major acquisitions include Magellan Midstream Partners ($18.8 billion, September 2023), Easton Energy's NGL system (2024), Medallion Midstream ($2.6 billion, 2024), and EnLink Midstream ($4.3 billion, completed January 2025), plus additional stakes in BridgeTex and the Delaware Basin joint venture in 2025.
Who is the CEO of ONEOK?
Pierce H. Norton II has served as President and CEO since 2021, leading the company's acquisition-driven expansion into an integrated midstream platform.
- Founded: 1906
- Headquarters: Tulsa, Oklahoma, USA
- Company Type: Publicly Traded
- Stock: NYSE: OKE
- Revenue: $33.6 billion (FY2025)
- Employees: approximately 5,900
Where Is Magellan Midstream Made / Based?
- Headquarters: Tulsa, Oklahoma, USA
- Manufacturing / Operations: United States
Magellan Midstream Categories & Tags
Brands Owned by ONEOK, Inc.
Energy UtilitiesEnLink Midstream
Owned by ONEOK, Inc.
Gathering, processing, and transmission brand acquired by ONEOK for about $4.3 billion, completed January 2025, centered on Permian and Oklahoma positions.
midstreamnatural-gaspermian
Energy UtilitiesMedallion Midstream
Owned by ONEOK, Inc.
Permian Basin crude oil gathering system acquired by ONEOK in 2024 for $2.6 billion, the largest private Midland Basin gathering network.
midstreamcrude-oilpermian
Energy UtilitiesONEOK
Owned by ONEOK, Inc.
Master brand of ONEOK, Inc., the Tulsa midstream company running a 60,000-mile network for natural gas, NGLs, refined products, and crude oil.
pipelinesmidstreamnatural-gas
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Magellan Midstream Ownership: Pros & Cons
Advantages
- +Largest US refined products pipeline system, a natural-monopoly asset
- +Fee-based tariff revenue insulated from commodity prices
- +Integrated into ONEOK's connected midstream network
- +Adds jet fuel, diesel, and gasoline distribution at scale
Considerations
- -Long-run refined products demand faces EV-driven decline risk
- -Brand equity is being absorbed into the ONEOK master brand
- -Regulated tariff environment caps pricing
- -Pipeline maintenance and integrity costs are structural
Frequently Asked Questions About Magellan Midstream
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Sources & Further Reading
Competitors to Magellan Midstream
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Plains All American | USA | 1998 | Mass market | United states | All Genders | |
| Oneok | USA | 2013 | Mass market | United states | All Genders | |
| Oneok | USA | 1906 | Mass market | United states | All Genders | |
| Enterprise Products Partners | USA | 1968 | Mass market | United states | All Genders | |
| Kinder Morgan | USA | 1997 | Mass market | North america | All Genders | |
| Oneok | USA | 2004 | Mass market | United states | All Genders |
Learn More About Competitors
Energy UtilitiesPlains All American
Owned by Plains All American Pipeline, L.P.
Plains All American is the operating brand of Plains All American Pipeline L.P., one of North America's largest crude oil midstream companies.
pipelinesmidstreamcrude-oil
Energy UtilitiesMedallion Midstream
Owned by ONEOK, Inc.
Permian Basin crude oil gathering system acquired by ONEOK in 2024 for $2.6 billion, the largest private Midland Basin gathering network.
midstreamcrude-oilpermian
Energy UtilitiesONEOK
Owned by ONEOK, Inc.
Master brand of ONEOK, Inc., the Tulsa midstream company running a 60,000-mile network for natural gas, NGLs, refined products, and crude oil.
pipelinesmidstreamnatural-gas
Energy UtilitiesEnterprise Products
Owned by Enterprise Products Partners L.P.
Enterprise Products is the operating brand of Enterprise Products Partners L.P., the Houston midstream partnership running 50,000-plus miles of energy pipelines.
pipelinesmidstreamnatural-gas-liquids
Energy UtilitiesKinder Morgan
Owned by Kinder Morgan, Inc.
Corporate and operating brand of Kinder Morgan, Inc., the largest natural gas pipeline company in North America.
pipelinesmidstreamnatural-gas
Energy UtilitiesEnLink Midstream
Owned by ONEOK, Inc.
Gathering, processing, and transmission brand acquired by ONEOK for about $4.3 billion, completed January 2025, centered on Permian and Oklahoma positions.
midstreamnatural-gaspermian
Competitive Analysis
Market Positioning: Magellan Midstream competes with 6 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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Independent Alternatives to Magellan Midstream
Looking for brands with different ownership structures? These similar brands are not owned by ONEOK, Inc., giving you alternative choices that support different corporate structures.
Energy UtilitiesPlains All American
Owned by Plains All American Pipeline, L.P.
Plains All American is the operating brand of Plains All American Pipeline L.P., one of North America's largest crude oil midstream companies.
pipelinesmidstreamcrude-oil
Publicly Traded
Plains All American operates independently without a large parent corporation.
Energy UtilitiesKinder Morgan
Owned by Kinder Morgan, Inc.
Corporate and operating brand of Kinder Morgan, Inc., the largest natural gas pipeline company in North America.
pipelinesmidstreamnatural-gas
Publicly Traded
Kinder Morgan operates independently without a large parent corporation.
Energy UtilitiesAdani Green Energy
Owned by Adani Group
Adani Green Energy Limited (AGEL) is India's largest renewable energy company by installed capacity, listed on the National Stock Exchange and BSE. It develops, builds, and operates solar and wind power plants across India.
renewable-energysolarwind
Privately Owned
Adani Green Energy is privately owned, unlike Magellan Midstream which is under a publicly traded parent company.
Energy UtilitiesAdani Power
Owned by Adani Group
India's largest private thermal power producer, operating approximately 17,550 megawatts of installed capacity across eight states, listed on NSE and BSE.
power-generationenergythermal-power
Privately Owned
Adani Power is privately owned, unlike Magellan Midstream which is under a publicly traded parent company.
Energy UtilitiesCenex
Owned by CHS Inc.
American fuel, lubricant, and convenience store brand owned by CHS Inc., the nation's largest farmer-owned cooperative, operating roughly 1,400 locations across 19 states.
fuelgas-stationsconvenience-stores
Privately Owned
Cenex is privately owned, unlike Magellan Midstream which is under a publicly traded parent company.
Energy UtilitiesJSW Energy
Owned by JSW Group
JSW Energy Limited is an Indian independent power producer and subsidiary of JSW Group, operating thermal, hydro, solar, and wind assets with over 10 GW of installed capacity and a target of 30 GW by 2030.
renewable-energysolarwind
Privately Owned
JSW Energy is privately owned, unlike Magellan Midstream which is under a publicly traded parent company.
ONEOK, Inc. Stock Information
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Jobs at ONEOK, Inc.
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