Oryx Midstream Services

What Oryx Midstream Services does

Oryx Midstream Services is a privately-held midstream crude oil logistics company headquartered in Midland, Texas, that develops and operates gathering, transportation, and storage infrastructure for oil and gas producers in the Permian Basin, primarily the Delaware Basin. Founded in 2013 by Brett Wiggs and Karl Pfluger, the company's asset base at peak scale comprised approximately 1,600 miles of pipeline spanning ten Texas counties and two New Mexico counties, 2.9 million barrels of storage capacity, and Delaware Basin transportation capacity of 900,000+ barrels per day. The company served 30+ producers under long-term acreage dedications covering 1.2+ million acres. Its systems include the Oryx Trans Permian Pipeline, the Delaware Basin Regional Crude Oil Transportation pipeline (developed with WPX Energy and others), the Reliance Gathering JV with Rattler Midstream, and several operating subsidiaries organized by Delaware Basin sub-region. The company provides crude oil segregation and batching across multiple quality streams and connects to multiple downstream pipelines including Gray Oak, Magellan Longhorn, and Plains All American systems.

The company generates fee-based, volume-driven revenue under long-term contracts and binding open seasons with E&P producers; pricing is not publicly disclosed. The customer base is concentrated in oil and gas exploration and production companies operating in the Permian/Delaware Basin, including WPX Energy and Diamondback Energy (via the Rattler JV). Ownership has transitioned through multiple private equity and sovereign capital rounds: initial equity of up to $300 million from Quantum Energy Partners, Post Oak Energy Capital, and Wells Fargo Energy Capital in April 2014; subsequent $340 million equity commitment in March 2017; a $3.6 billion Stonepeak Infrastructure Partners acquisition in April 2019 (with a $1.5 billion Term Loan B); $550 million from Qatar Investment Authority in August 2019; and most recently the October 2021 formation of the Plains Oryx Permian Basin LLC joint venture (65% Plains All American, 35% Oryx), into which Oryx merged its Permian assets, operations, and commercial activities. Plains operates the JV, and Oryx retains oversight through joint operating committee and board representation.

Name

Oryx Midstream Services

Legal name

Oryx Midstream LLC

Website

http://oryxmidstream.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

51–100 employees

Short description

Oryx Midstream Services is a privately-held midstream crude oil logistics company in the Permian Basin, operating gathering, transportation, and storage infrastructure for oil and gas E&P producers under long-term acreage dedications, with its assets now consolidated into the Plains Oryx Permian Basin joint venture.

Ownership category

akta.pro rank

Product category

Crude Oil Midstream Logistics

NAICS

Pipeline Transportation of Crude Oil (48611), Pipeline Transportation of Crude Oil (4861), Petroleum Bulk Stations and Terminals (424710)

SIC

Pipe Lines (No Natural Gas) (4610), Oil & Gas Field Services, Nec (1389), Wholesale-Petroleum Bulk Stations & Terminals (5171)

akta.pro primary industry

Pipeline Operations, Integrity & Control (SCADA, Pigging, Leak Detection) (EUALADAK)

Keywords

• Crude oil gathering
• Midstream pipeline services
• Crude oil transportation
• Oil storage terminals
• Permian Basin midstream

Headquarters

HQ city

Midland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain

Revenue model

1. Midstream Pipeline Services: Fee-based revenue from crude oil gathering and transportation services provided under long-term contracts with E&P producers. Revenue is volume-based with throughput capacity generating fees from committed shippers.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Oryx Midstream Services provides midstream crude oil logistics services in the Permian Basin, including crude oil gathering via pipelines from wellheads, trunk line transportation to market hubs, and storage terminal services. The company operates approximately 1,600 miles of pipeline and 2.9 million barrels of storage capacity across ten Texas counties and two New Mexico counties, serving 30+ oil and gas E&P producers under long-term acreage dedications.

Product overview

Oryx Midstream Services is a full-service midstream crude oil logistics provider offering an integrated portfolio of infrastructure solutions for oil and gas producers in the Permian Basin. The company's core offerings consist of crude oil gathering pipeline systems (collecting crude from wellheads), trunk line transportation pipelines (moving crude to market hubs), and storage terminal facilities. Key pipeline systems include the Oryx Trans Permian Pipeline System (OTP) with over 450 miles of gathering and transmission infrastructure across Texas counties, and the Delaware Basin Regional Crude Oil Transportation System spanning approximately 220 miles with capacity up to 400,000 barrels per day. The company operates approximately 1,600 miles of pipeline and 2.9 million barrels of storage capacity. In October 2021, Oryx combined its assets with Plains All American into the Plains Oryx Permian Basin joint venture (65%/35% ownership), creating one of the largest integrated midstream crude systems in the Permian with over 5,500 pipeline miles.

Differentiator

Problem solved

Functional benefit

Products and services

• Oryx Midstream Crude Oil Gathering and Transportation System Full-service midstream crude oil logistics system providing gathering and trunk line transportation services for oil and gas producers in the Permian Basin, featuring approximately 1,600 miles of in-service pipeline and 2.9 million barrels of storage capacity spanning ten counties in Texas and two in New Mexico.
• Oryx Trans Permian Pipeline System (OTP) Crude oil gathering and transportation pipeline system in the Delaware Basin comprising over 350 miles of gathering pipeline, 100 miles of transmission pipeline, and three storage terminals with approximately 300,000-390,000 barrels of storage capacity serving Reeves, Ward, Pecos, Crane, Upton and Midland counties in Texas.
• Oryx Delaware Basin Regional Crude Oil Transportation System 220-mile regional transport pipeline with initial capacity of up to 400,000 barrels per day, featuring 16-, 20-, and 24-inch lines serving production from Carlsbad, Stateline, Pecos and Pyote areas to Crane and Midland, Texas market hubs.
• Reliance Gathering System (Oryx/Rattler JV) Reliance Gathering crude oil gathering system acquired by Oryx and Rattler Midstream JV, including over 230 miles of gathering and transportation pipelines, ~200,000 barrels of storage, and ~160,000 gross acres dedicated under long-term fixed-fee agreements. Operated by Oryx.

Quantifiable outcome

• Transportation capacity exceeding 900,000 barrels per day
• +1 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core and major.

• Plains All AmericancoreStrategic or Co-development Partner · 13 July 2021In October 2021, Oryx merged its assets, operations, and commercial activities into a new joint venture with Plains All American called Plains Oryx Permian Basin LLC. The JV is owned 65% by Plains and 35% by Oryx. It combines Oryx's ~1,600 miles of pipeline with Plains' ~3,900 miles of Permian assets, creating ~5,500 pipeline miles with ~6.8 MMb/d capacity. Plains serves as operator while Oryx provides oversight through joint operating committee and board representation.
• Rattler Midstream (Diamondback Energy)majorStrategic or Co-development Partner · 3 October 2019Oryx and Rattler Midstream formed a joint venture to acquire Reliance Gathering, LLC for $355 million in October 2019. The 60/40 ownership split has Rattler holding majority. The acquisition includes over 230 miles of gathering and transportation pipelines, ~200,000 barrels of storage, and ~160,000 gross acres dedicated under long-term fixed-fee agreements. Oryx operates the system following closing.

Scale indicators9 records

Recent moves9 records

Expansion highlights6 records

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries10 records

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Oryx Midstream Services