Targa

Despite $3 billion in projects expected to begin commercial operations this year, a hefty cash payment doled out in the first quarter combined with weak Permian Basin natural gas pricing to send earnings for Targa Resources Corp. plunging into the red.

Even as it revealed plans for a new natural gas liquids (NGL) expansion aimed at tapping supply from the Rockies and Denver Julesburg-Niobrara, The Williams Companies Inc. this week touted its focus on transporting low-cost natural gas to premium markets as the driver of “solid and predictable growth” in 2018 and beyond.

Citing a persistently tight natural gas liquids (NGL) fractionation market, Targa Resources Inc. plans to build two new fractionation trains at Mont Belvieu, TX, management said Thursday.

Targa Resources Corp. is leaving no stone unturned as it seeks to meet growing customer needs in markets like the Permian Basin of West Texas and southeastern New Mexico and the Bakken Shale of North Dakota, where existing bottlenecks and tightening infrastructure have sent some oil and natural gas producers to other, less constrained regions.

With an eye on moving more natural gas from the Permian Basin to the Texas coast, four operators led by Houston’s Targa Resources Corp. have rolled out plans to develop the 2 Bcf/d Whistler Pipeline Project, which if sanctioned could help deliver up to 7 Bcf/d to Gulf Coast markets and beyond.

Sanchez Midstream Partners LP (SNMP) on Wednesday announced it has executed a series of agreements with Targa Resources Corp. that put their newly formed joint venture (JV) in a position to grow their footprint in the Eagle Ford Shale while exercising the capital discipline investors have come to expect from the oil and gas industry.

Targa Resources Corp. said this week that it has entered long-term fee-based agreements with an undisclosed producer that will find it spending $500 million to expand natural gas gathering and processing services in the Permian Basin’s Delaware sub-basin.

Targa Resources Corp. is planning to build two 250 MMcf/d cryogenic natural gas processing plants to support increasing production in the Permian Basin’s Midland sub-basin, and a 100,000 b/d fractionation train in Mont Belvieu, TX.

Targa Resources Corp.and MPLX LP plan to expand the Centrahoma Processing LLC joint venture that serves producers working in Oklahoma’s Arkoma Woodford Basin. Targa and MPLX plan to build a 150 MMcf/d cryogenic natural gas processing plant, to be named Hickory Hills, in Hughes County, which could begin operations in late 2018. Targa is contributing its existing 150 MMcf/d Flag City Plant acquired in May 2017 and then decommissioned, which would become Hickory Hills once additional required plant infrastructure is installed. Targa also agreed to contribute the 120 MMcf/d cryogenic Tupelo Plant in Coal County. In exchange, Targa would maintain its 60% interest and be paid an undisclosed amount by MPLX, its 40% partner.