Targa Finds Buyer for Permian Pipeline Assets
11.18.2019 By Greta Talmaci - NEWS

November 18, 2019 [Kallanish Energy] – Texas-based pipeline operator Targa Resources has found a buyer for its crude oil-gathering assets in the Permian Basin of West Texas and New Mexico, Kallanish Energy has learned.

Oryx Midstream has purchased Targa’s Permian Basin crude oil gathering pipeline and storage terminals in a $135 million deal, attorneys for both sides confirmed to the Houston Chronicle newspaper.

Oryx, with headquarters in Midland, Texas, is called the largest privately-held crude oil pipeline and storage terminal operator in the Permian basin.

It has more than 1,200 miles of pipelines and 2.1 million barrels of storage before the Targa deal.

Targa, with headquarters in Houston, Texas, had recently announced its intent to se its oil gathering assets after a third quarter 2019 net loss of $78.6 million on revenues of $1.9 billion.


Click Here to Access Today a 4,900 Tank Terminal Database With a Pro Trial
Click on the button and register to get instant access to actionable tank storage industry data

ONGC Inks Pact with HPCL for Sale of Oil from Mumbai Offshore
09.28.2023 - NEWS
September 28, 2023 [Projects Today]- Oil and Natural Gas Corporation (ONGC) has signed an agreeme... Read More
Enagas Wraps Up Stake Purchase in Germany’s HEH
09.28.2023 - NEWS
September 28, 2023 [LNG Prime]- Spanish LNG terminal operator Enagas has closed the previously a... Read More
Qatarenergy Signs New LNG Ship- Building Agreement Valued at QR14.2 Billion with HD Hyundai Heavy Industries
09.28.2023 - NEWS
September 28, 2023 [Qatar energy]- QatarEnergy signed an agreement with Korea’s HD Hyundai Heav... Read More
Qatar Energy Announces 10-Year Naphtha Supply Agreement with Marubeni Corporation
09.28.2023 - NEWS
September 28, 2023 [Qatar Energy]- QatarEnergy has announced the signing of a long-term naphtha s... Read More