Deal could move crude oil capacity to the Delaware Basin

Apr 19, 2019 11:08 AM

Associated Press | April 6, 2019

A deal between oil companies and a Texas firm could move almost a million barrels per day of crude oil capacity to the Delaware Basin in New Mexico and Texas.

The Carlsbad Current-Argus reports the deal will support a planned expansion of Oryx's Permian Basin system to 900,000 barrels of crude oil transportation capacity.

Assets owned by Oryx Southern Delaware Holdings recently were sold by Concho Resources, XPX Energy, Quantum Energy Partners, Post Oak Energy Capital and other investors.

The system already has about 2.1 million barrels of storage capacity and about 1,200 miles of pipeline. Both are in service and under construction in eight counties in Texas and two in southeast New Mexico.