Stonepeak Infrastructure completed its $3.6bn acquisition of Oryx Midstream.

Stonepeak Infrastructure Partners completed its $3.6bn acquisition of Oryx Midstream, a midstream crude operator in the Permian Basin, from Quantum Energy Partners, Post Oak Energy Capital, Concho Resources, WPX Energy, and other investors. For Stonepeak, Oryx represents an ideal platform for providing critical crude oil transportation services in the Permian Basin that is well-positioned to capitalize on growing production, given its differentiated service offering, expansive geographic footprint, scalable in-place infrastructure, and unique customer diversification. “Stonepeak is delighted to partner with the Oryx management team to build upon the impressive franchise they have established, and our extensive experience in the Permian uniquely qualifies us to help transition Oryx into the next phase of its evolution. Oryx is the most attractive private Permian midstream asset Stonepeak has evaluated and we view it as a strategic platform and a core North American crude infrastructure asset. Our critical focus will be on continuing to provide Oryx’s diversified customer base with best in class service offerings to accommodate their growing production while also pursuing new commercial opportunities across the value-chain,” Jack Howell, Stonepeak's Partner and Head of energy business.