Post Tagged with: "$3.6 billion sale"

New Permian Deal: Stonepeak Buys Oryx Midstream for $3.6 Billion Cash

New Permian Deal: Stonepeak Buys Oryx Midstream for $3.6 Billion Cash

Permian Basin E&Ps WPX, Concho to cash in on transaction Oryx plans to “aggressively grow our footprint in the Permian Basin” “Oryx is the most attractive private Permian midstream asset Stonepeak has evaluated” Affiliates of Quantum Energy Partners, Post Oak Energy Capital, Concho Resources (stock ticker: CXO, $CXO), WPX Energy (stock ticker: WPX, $WPX) and other investors announced today that they have entered into a binding agreement to sell substantially all of the assets of Oryx Southern Delaware Holdings LLC and Oryx Delaware Holdings LLC to funds managed by Stonepeak Infrastructure Partners for a cash purchase price of approximately $3.6 billion. Stonepeak Infrastructure Partners is an infrastructure-focused private equity firm with over $15 billion of assets under management in Houston, New York, and Austin. In a statement Stonepeak said it sees the Oryx crude oil transportation services as its way to capitalize on the coming Permian Basin production growth. Stonepeak[Read More…]