Concho owns a 23.75% stake in the Oryx I gathering system and will get $300 million at closing. When combined with the $157 million it already received last year from this investment, Concho will have hauled in $457 million in cash, which is 10 times the capital it invested in Oryx I since December 2015. It's the second time in recent years that Concho has cashed in on a midstream investment; the company sold its stake in the Alpha Crude Connector System to Plains All American Pipeline (NYSE: PAA) in 2017 for $1.25 billion.