Oryx Midstream Services is the quintes­sential tale of a private-equity-backed company getting a first-mover advan­tage and ultimately achieving a wildly profit­able exit. Formed in 2014 with $300 million in capital from Quantum Energy Partners and Post Oak Energy Capital, the company began building out gathering and transport crude infrastructure in the nascent Delaware Basin as producers were just discovering the bounty of resource there. In 2019, after investing almost $1 billion to build out infrastructure across the Delaware Basin, Oryx had grown to become the largest privately held midstream crude operator in the Permian Basin. In April, a buyer valued the company at $3.6 billion.

Oil and Gas Investor visited with Wiggs regarding growth plans for the midstream company.

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Onshore