Oryx Midstream Services (Oryx), the largest privately-held midstream crude operator in the Permian Basin, announced today that an affiliate of Qatar Investment Authority (QIA) has acquired a significant stake in Oryx from an affiliate of Stonepeak Infrastructure Partners (Stonepeak). In addition, QIA has committed to invest in the development of Oryx alongside Stonepeak. The total QIA investment in Oryx will be approximately $550 million.
Since its founding in 2013, Oryx has established itself as one of the leading midstream operators in the Permian Basin in the Southwest US. The Oryx system transports crude oil to market hubs for ultimate delivery to the Gulf Coast. The system helps supply domestic refineries and the growing US export market. Upon completion of the remaining part of the system under construction, Oryx’s total transportation capacity will exceed 900,000 barrels per day and access multiple takeaway options, providing customers the differentiated service flexibility they need to maximize the value of their production. The Oryx team is committed to a high standard of safety and environmental responsibility as it provides consistent, reliable service for its customers.
The CEO of QIA, Mansoor Al-Mahmoud,
