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Targa Resources Corp. (symbol: TRGP) is a leading provider of midstream services in North America, known for its robust and diversified portfolio of midstream energy assets. The company primarily operates in the gathering and processing sector, with significant assets in key regions like the Permian, STACK, SCOOP, and Bakken plays.
Core Business: Targa Resources focuses on gathering and processing natural gas, natural gas liquids (NGLs), and crude oil. The company's operations include one of the largest fractionation capacities at Mont Belvieu and a strategically located liquefied petroleum gas (LPG) export terminal. An important asset in their portfolio is the Grand Prix natural gas liquids pipeline, which enhances their ability to transport and deliver energy products efficiently.
Recent Achievements: In the third quarter of 2023, Targa reported significant improvements compared to the same period in 2022, reflecting their effective operational strategies and market positioning. The company has consistently delivered strong financial performance, with notable increases in distributable cash flow and adjusted free cash flow.
Current Projects: Targa Resources is continually developing and acquiring new assets to expand its reach and capabilities. The company is involved in several ongoing projects aimed at enhancing their infrastructure and service offerings. These projects include expansions to existing pipelines and processing facilities to better serve their growing customer base.
Financial Condition: Targa's financial health remains robust, backed by strong earnings reports and strategic investments. As of the latest financial reports, the company demonstrates a solid balance sheet with steady revenue streams from its diversified operations.
Partnerships and Products: Targa Resources collaborates with various partners across the energy sector, leveraging these relationships to optimize their operations and service delivery. The company's product offerings include natural gas, NGLs, and crude oil, catering to a wide range of industrial and commercial customers.
Work Environment: Targa prides itself on creating a dynamic work environment that fosters learning, development, and growth. The company prioritizes safety and actively involves employees in continuous performance improvement initiatives. With a strong commitment to employee well-being, Targa supports its workforce in achieving their professional goals.
For more detailed information and the latest updates on Targa Resources Corp., visit their official website or check out recent news and events on platforms like StockTitan.
Targa Resources Corp. (NYSE: TRGP) announced participation in investor meetings via video conference at the Wolfe Research Utilities, Midstream & Clean Energy Conference on September 30, 2022. The presentation slides will be available on the Company’s website. Targa is a leading midstream service provider and one of the largest independent midstream infrastructure companies in North America. The company connects natural gas and NGLs to increasing domestic and international markets, focusing on cleaner fuels.
Targa Resources Corp. (NYSE: TRGP) is set to participate in key investor meetings at two conferences: the Citi One-on-One Midstream / Energy Infrastructure Conference on August 16-17, 2022, in Las Vegas, NV, and the Seaport Research Partners Annual Summer Investor Conference on August 24, 2022, via video conference. Attendees can access presentation slides in the Investors section of Targa's website. Targa is a leading midstream service provider, playing a crucial role in energy delivery across the U.S. and global markets.
Targa Resources Corp. (TRGP) reported impressive second-quarter 2022 results, with net income soaring to $596.4 million from $56.2 million in Q2 2021. This includes a significant $435.9 million gain from equity method investment sales. Adjusted EBITDA rose 45% to $666.4 million, driven by higher commodity prices and record natural gas volumes averaging 3.1 Bcf/d. Targa declared a quarterly dividend of $0.35 per share. Additionally, the company increased its 2022 adjusted EBITDA guidance to between $2.85 billion and $2.95 billion, reflecting its recent acquisitions and growth projects.
Targa Resources Corp. (NYSE: TRGP) has successfully acquired Lucid Energy Delaware, LLC for $3.55 billion, enhancing its presence in the Delaware Basin. The acquisition, funded through loans and a public note offering, adds over 1,050 miles of natural gas pipelines and significant cryogenic processing capacity. Lucid's assets are secured by long-term contracts from diverse clients on over 600,000 dedicated acres, tapping into lucrative crude oil and natural gas production areas.
Targa Resources Corp. (NYSE: TRGP) declared a quarterly cash dividend of $0.35 per common share for Q2 2022, amounting to $1.40 annually. This dividend will be paid on August 15, 2022, to shareholders on record by July 29, 2022. The company's financial results for the second quarter will be available on August 4, 2022, followed by a live webcast at 11:00 a.m. ET. Targa, a leading provider of midstream services and a FORTUNE 500 company, operates critical infrastructure for energy delivery across the U.S.
Targa Resources Corp. (NYSE: TRGP) has announced a public offering of $750 million in 5.200% senior notes due 2027 and $500 million in 6.250% senior notes due 2052. The offering is scheduled to close on July 7, 2022. Proceeds will partially fund Targa's acquisition of Lucid Energy Delaware for approximately $3.55 billion, expected to close in Q3 2022. If the acquisition does not proceed, the funds will be used for general corporate purposes, including debt repayment and capital expenditures.
Targa Resources Corp. announced a $3.55 billion acquisition of Lucid Energy Delaware, enhancing its presence in the Delaware Basin. This strategic acquisition is anticipated to elevate Targa's fee-based margin through long-term fixed-fee contracts, with estimated 2023 adjusted EBITDA at 7.5 times the acquisition price. Targa's standalone 2022 EBITDA is projected between $2.675 billion and $2.775 billion, with a year-end leverage ratio expected at 3.5 times post-transaction. The deal is set to close in Q3 2022, subject to regulatory approvals.
Targa Resources Corp. (NYSE: TRGP) announced participation in the Bank of America Energy Credit Conference on June 8, 2022, in New York City. The company's investor presentations will be accessible on their website. As a leading midstream service provider, Targa operates a diversified portfolio of assets vital for energy delivery across the U.S. The company is a FORTUNE 500 entity and listed in the S&P 400. For further information, visit www.targaresources.com.
ArcLight Capital Partners has successfully acquired a 25% equity interest in Gulf Coast Express Pipeline from Targa Resources for $857 million. The GCX pipeline, with a capacity of 2.02 Bcf/d, is essential for transporting natural gas from the Permian Basin to the Gulf Coast, fueling demand in emerging LNG markets. ArcLight's Managing Director, Lucius Taylor, expressed confidence in GCX’s role in meeting growing global gas demand responsibly as the energy sector transitions. Macquarie Capital served as the financial advisor for this transaction.
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