A state-owned company from Qatar signed a $550 million deal to buy an interest in and expand Midland-based Oryx Midstream Services, a pipeline company that transports crude oil in the Permian Basin. Oryx said Qatar Investment Authority bought “a significant stake” of its operations from New York private equity firm Stonepeak Infrastructure Partners. Founded in 2013, Oryx has more than 1,200 miles of pipelines and 2.1 million barrels of storage in 10 counties (eight in Texas) and is reportedly the largest privately-held crude oil pipeline and storage terminal operator in the Permian Basin with throughput capacity of more than 900,000 b/d.
Permian Basin Oil and Gas Magazine
PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.