MIDLAND, TEXAS– August 31, 2018 – Oryx Midstream Services II, LLC announced today that it is extending the joint open season currently being held by its operating subsidiaries, Oryx Delaware Oil Gathering NM LLC, Oryx Delaware Oil Gathering TX LLC, Oryx Western Delaware Oil Gathering LLC and Oryx Delaware Oil Transport LLC (collectively, “Oryx”), for its proposed crude oil gathering and trunk line transportation system that will serve the liquids-rich Delaware Basin in Texas and New Mexico. The joint binding open season (Open Season) launched July 10, 2018 and was initially scheduled to conclude on August 9, 2018. On August 9, 2018, Oryx announced that it was extending its Open Season to August 31, 2018. Given the strong interest that Oryx has received for the proposed gathering and transportation system, Oryx has elected to further extend the Open Season through 5 p.m. CDT on September 14, 2018.
The Open Season provides potential shippers with the opportunity to make volume commitments or acreage dedications to Oryx Delaware Oil Gathering NM LLC, Oryx Delaware Oil Gathering TX LLC and Oryx Western Delaware Oil Gathering LLC and/or Oryx Delaware Oil Transport LLC by executing gathering and/or transportation services contracts with Oryx. Shippers that elect to make commitments to Oryx Delaware Oil Gathering NM LLC, Oryx Delaware Oil Gathering TX LLC and or Oryx Western Delaware Oil Gathering LLC during the Open Season for movements on any of the gathering systems will receive firm gathering service for their committed volumes. Shippers that elect to make commitments to Oryx Delaware Oil Transport LLC during the Open Season for movements on the trunk line will receive firm transportation for their committed volumes. Shippers that receive firm service for gathering and/or transportation will be required to pay a premium rate compared to the rate offered to similarly-situated walk-up shippers.
A copy of the Open Season notice, which provides a high-level summary of the key terms set forth in the gathering and transportation services contracts can be found at Oryx’s website http://www.oryxmidstream.com/customer-center. Copies of the Open Season procedures and the gathering and transportation services contracts will be available to interested shippers upon the execution of a confidentiality agreement, a copy of which shall be provided upon request. All binding commitments must be received by 5 p.m. CDT on September 14, 2018.
About Oryx Midstream Services II, LLC
Midland-based Oryx Midstream II is focused on developing midstream infrastructure in the Permian Basin in New Mexico and Texas. Led by an experienced team with more than 160 years of experience in the oil and gas industry, Oryx is dedicated to providing producers with solutions and flexibility through a full suite of midstream services. Oryx is supported by a consortium of capital providers including Quantum Energy Partners, Post Oak Energy Capital, Wells Fargo Energy Capital, local Midland investors and others who collectively have contributed significant capital to the venture. For more information visit www.oryxmidstream.com.
About Quantum Energy Partners
Quantum Energy Partners is a leading provider of private equity capital to the global energy industry, having managed together with its affiliates more than $15 billion in equity commitments since inception. For more information on Quantum, please visit www.quantumep.com. For investor relations, please contact Michael Dalton at (713) 452-2000.
About Post Oak Energy Capital
Post Oak, which was established in 2006, is an energy-focused private equity firm based in Houston. Its management team has executive management experience and a broad network in the energy business as well as significant expertise in private equity investments, operations, development, finance, acquisitions and divestitures. The firm pursues private equity investments primarily in the upstream sector of the oil and gas industry in North America and, to a lesser extent, in oil field services and related infrastructure. Post Oak works in close partnership with operating management teams to build businesses, accelerate growth and enhance shareholder value. Post Oak’s website is www.postoakenergy.com.