Concho Resources Inc. announced its decision to divest stake in Oryx Midstream to Stonepeak Infrastructure Partners. The Deal The transaction entails the sale of a 23.75% stake of Concho in the Oryx I gathering system that is owned by Oryx Midstream, a privately-held energy player possessing key midstream assets like gathering and transportation system of crude in the prolific Permian. Concho is likely to get roughly $300 million upon closing of the agreement.