Targa Resources Corp. is moving forward with two major projects based on its outlook for increasing Permian Basin natural gas production and resulting natural gas liquids (NGL) supply growth.

High utilization rates at the 250 MMcf/d Pembrook processing facility in the Permian’s Midland sub-basin “necessitates moving forward with Pembrook II,” CEO Matt Meloy said during  the first quarter earnings call.

The new facility could begin operations in the fourth quarter of 2025, he added. “We’re already looking at when we’ll need the next plant after Pembrook II.” 

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Targa emerged from 1Q2024 with record volumes on its Permian...