Market Overview

Oryx Midstream Services II, LLC Further Extends Binding Open Season For Regional Crude Oil Gathering and Transportation System in the Delaware Basin

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Oryx
Midstream Services II, LLC
announced today that it is extending the
joint open season currently being held by its operating subsidiaries,
Oryx Delaware Oil Gathering NM LLC, Oryx Delaware Oil Gathering TX LLC,
Oryx Western Delaware Oil Gathering LLC and Oryx Delaware Oil Transport
LLC (collectively, "Oryx"), for its proposed crude oil gathering and
trunk line transportation system that will serve the liquids-rich
Delaware Basin in Texas and New Mexico. The joint binding open season
(Open Season) launched July 10, 2018 and was initially scheduled to
conclude on August 9, 2018. On August 9, 2018, Oryx announced that it
was extending its Open Season to August 31, 2018. Given the strong
interest that Oryx has received for the proposed gathering and
transportation system, Oryx has elected to further extend the Open
Season through 5 p.m. CDT on September 14, 2018.

The Open Season provides potential shippers with the opportunity to make
volume commitments or acreage dedications to Oryx Delaware Oil Gathering
NM LLC, Oryx Delaware Oil Gathering TX LLC and Oryx Western Delaware Oil
Gathering LLC and/or Oryx Delaware Oil Transport LLC by executing
gathering and/or transportation services contracts with Oryx. Shippers
that elect to make commitments to Oryx Delaware Oil Gathering NM LLC,
Oryx Delaware Oil Gathering TX LLC and or Oryx Western Delaware Oil
Gathering LLC during the Open Season for movements on any of the
gathering systems will receive firm gathering service for their
committed volumes. Shippers that elect to make commitments to Oryx
Delaware Oil Transport LLC during the Open Season for movements on the
trunk line will receive firm transportation for their committed volumes.
Shippers that receive firm service for gathering and/or transportation
will be required to pay a premium rate compared to the rate offered to
similarly-situated walk-up shippers.

A copy of the Open Season notice, which provides a high-level summary of
the key terms set forth in the gathering and transportation services
contracts can be found at Oryx's website http://www.oryxmidstream.com/customer-center.
Copies of the Open Season procedures and the gathering and
transportation services contracts will be available to interested
shippers upon the execution of a confidentiality agreement, a copy of
which shall be provided upon request. Any such requests should be
directed to Oryx's senior vice president of business development, Carlos
Mata at (432) 253-7756 or cmata@oryxmidstream.com.
All binding commitments must be received by 5 p.m. CDT on September 14,
2018.

About Oryx Midstream Services II, LLC

Midland-based Oryx Midstream II is focused on developing midstream
infrastructure in the Permian Basin in New Mexico and Texas. Led by an
experienced team with more than 160 years of experience in the oil and
gas industry, Oryx is dedicated to providing producers with solutions
and flexibility through a full suite of midstream services. Oryx is
supported by a consortium of capital providers including Quantum Energy
Partners, Post Oak Energy Capital, Wells Fargo Energy Capital, local
Midland investors and others who collectively have contributed
significant capital to the venture. For more information visit www.oryxmidstream.com.

About Quantum Energy Partners

Quantum Energy Partners is a leading provider of private equity capital
to the global energy industry, having managed together with its
affiliates more than $15 billion in equity commitments since inception.
For more information on Quantum, please visit www.quantumep.com.
For investor relations, please contact Michael Dalton at (713) 452-2000.

About Post Oak Energy Capital

Post Oak, which was established in 2006, is an energy-focused private
equity firm based in Houston. Its management team has executive
management experience and a broad network in the energy business as well
as significant expertise in private equity investments, operations,
development, finance, acquisitions and divestitures. The firm pursues
private equity investments primarily in the upstream sector of the oil
and gas industry in North America and, to a lesser extent, in oil field
services and related infrastructure. Post Oak works in close partnership
with operating management teams to build businesses, accelerate growth
and enhance shareholder value. Post Oak's website is www.postoakenergy.com.

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