UPDATE: BP Midstream Partners LP (BPMP) IPO Opens at $16.85

(Correction to ticker)

BP Midstream Partners LP's (NYSE: BPMP) IPO opened at $16.85 after pricing at $18.

BP Midstream Partners is a fee-based, growth-oriented master limited partnership recently formed by BP to own, operate, develop and acquirepipelines and other midstream assets. BP Midstream Partners’ initial assets consist of interests in entities that own crude oil, natural gas, refined products and diluent pipelines serving as key infrastructure for BP and its affiliates and other customers to transport onshore and offshore production to key refining markets and trading and distribution hubs..

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