Stonepeak takes over Oryx Midstream

摘要

PERMIAN operators Concho Resources and WPX Energy of the US have sold their interests in a large gathering system to private equity firm Stonepeak Infrastructure, which will pay the producers and other investors $3.6 billion for Oryx Midstream, writes Caroline Evans. Concho will receive $300 million for its 23.75% equity interest in Oryx. The sale proceeds, combined with a February distribution total of about $457 million, are 10 times the capital invested since December 2015. WPX expects to receive $350 million for its 25% interest in the system and will remain as a shipper. Other investors, including Quantum Energy Partners and Post Oak Energy Capital, are also selling "substantially all" their holdings in the Oryx system -which is focused on the Delaware sub-basin of the Permian - to Stonepeak.