Only two months after acquiring Oryx Midstream Services LLC—the largest privately-held midstream crude operator in the Permian Basin, Stonepeak Infrastructure Partners has shaved off a stake in the company in a deal with Qatar.

Oryx Midstream said Aug. 7 that an affiliate of Qatar Investment Authority (QIA) has acquired a significant stake in Oryx and has committed to invest up to $550 million in the development of the company.

The investment follows Oryx’s sale to Stonepeak, an infrastructure-focused private equity firm, for roughly $3.6 billion in cash. The transaction, which included upstream producers Concho Resources Inc. and WPX Energy Inc. cashing in their stakes, closed in May.

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