Targa Resources Corp. said it is building two cryogenic natural gas processing plants in the Permian Basin to meet the infrastructure needs of producers that have maintained record levels of activity in anticipation of strengthening export demand.

Houston-based Targa, in conjunction with its second quarter earnings release earlier this month, announced the construction of a 275 MMcf/d processing plant in the Permian’s Midland sub-basin, which it named the Greenwood II facility. It also said it had begun work on a 275 MMcf/d Bull Moose processing plant in the Delaware sub-basin of the Permian. The Greenwood II and Bull Moose facilities are expected to begin operations in late 2024 and in the second quarter of 2025, respectively.

“Given our...