Targa Resources Corp. said Thursday it has signed agreements to acquire Southcross Energy Operating LLC and its subsidiaries in South Texas for $200 million in a deal that will consolidate Targa’s natural gas gathering and processing footprint.


The Southcross assets include a currently idle 200 MMcf/d natural gas processing plant, Houston-based Targa said. Through the deal, Targa will acquire fee-based contracts, “with the vast majority of volumes being low pressure wellhead gathering,” management said. 

Targa also will acquire the remaining Southcross working interests in the firms’ existing joint ventures. 

Targa is currently the operator of two JVs with Southcross called T2 LaSalle Gathering Company LLC and T2 Eagle Ford Gathering Company LLC.

T2 LaSalle and T2...