Targa Resources Corp. plans to build a 275 MMcf/d natural gas processing plant in the Permian Basin, adding to a spate of projects in the prolific region aimed at meeting mounting demand — both domestically and globally.

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The Houston-based company is eyeing additional future projects in West Texas as well, executives said during the second quarter earnings call Thursday (Aug. 4).

“Our performance this year has been strong, and we expect that to continue” with more capacity on the way, CEO Matthew Meloy said.

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Plans call for the new Greenwood processing plant in the Midland portion...