Focused on enhancing interconnectivity and efficiency, Permian Basin operators Plains All American Pipeline LP and Oryx Midstream Holdings LLC have agreed to merge in a transaction that would bring together 5,500 miles of oil and liquids pipeline systems.

The joint venture (JV) would include all of Oryx’s Permian assets. With the exception of a Plains long-haul pipeline system and some intra-basin terminal facilities, it also would include most of Plains’ oil and natural gas liquids assets in the Permian. 

Plains would own 65% of the rebranded company, to be called Plains Oryx Permian Basin LLC. The Houston company also would be the operator.

“This combination is a natural evolution of the Oryx growth story and perpetuates that commitment, creating the premier crude oil...