Targa Resources

Targa Resources Corp. (NYSE: TRGP) is a leading independent midstream infrastructure company providing comprehensive services across the natural gas, natural gas liquids, and crude oil value chains in North America. The company operates through two primary segments: Gathering and Processing, and Logistics and Transportation, which together create an integrated platform serving producers and downstream customers.

The Gathering and Processing segment operates approximately 31,600 miles of natural gas gathering pipelines and 54 owned and operated processing plants with aggregate capacity of 11,129 million cubic feet per day across major producing basins including the Permian Basin, Eagle Ford Shale, Barnett Shale, Anadarko Basin, Williston Basin, and Louisiana Gulf Coast. This segment handles natural gas gathering, compression, treatment, and processing to extract natural gas liquids, as well as crude oil gathering and terminaling operations.

The Logistics and Transportation segment operates downstream infrastructure including fractionation facilities, NGL pipelines, storage and terminaling assets, and marine export terminals. The company owns 1,138 million barrels per day of fractionation capacity at Mont Belvieu and Lake Charles, Texas, and Louisiana, along with 2,600 miles of NGL pipelines connecting supply sources to market hubs. The segment also operates storage facilities with approximately 81 million barrels of gross NGL storage capacity and provides LPG export services through its Galena Park Marine Terminal.

Targa's business model emphasizes fee-based contracts and integrated service offerings that create stable cash flows across commodity price cycles. The company has strategically positioned assets in high-activity producing regions and key market hubs, supported by advanced processing technologies and efficient operations. Recent growth initiatives include multiple natural gas processing plant expansions in the Permian Basin, fractionation train additions, NGL pipeline expansions, and LPG export capability enhancements. The company also maintains joint venture interests in complementary midstream infrastructure projects and completed significant acquisitions including full ownership of Targa Badlands and Stakeholder Midstream assets. More information is available at www.targaresources.com.