- Associated Press - Saturday, April 6, 2019

CARLSBAD, N.M. (AP) - 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.

___

Information from: Carlsbad Current-Argus, http://www.currentargus.com/

Copyright © 2019 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide