Magellan Midstream Partners, L.P. (NYSE: MMP) announced a one-week extension of the binding open season to solicit capacity commitments from shippers to transport crude oil from Crane, Texas to the partnership’s East Houston terminal for further delivery to the Houston and Texas City-area refineries through Magellan’s distribution system. Binding commitments for the Crane-to-Houston crude oil pipeline are now due on March 1, 2012. 

As previously announced, Magellan is in the process of reversing and converting its pipeline from Crane to Houston for crude oil service. The initial pipeline capacity will ...