Targa Resources signs 20-year midstream agreements with ExxonMobil in Permian Basin
TRGP•Growth plans include new Delaware plants and pipeline
Targa said its growth plans include three new Delaware gas processing plants totaling 825 MMcf/d and a 70-mile Bull Run II residue pipeline to Waha.
The company raised its FY26 net growth capital forecast to about $5 billion to fund the Delaware buildout and associated infrastructure.
Targa signs long-term midstream deals with ExxonMobil
Targa Resources said it signed new 20-year fee-based integrated midstream agreements with ExxonMobil covering gathering, processing, and downstream services in the Permian Basin.
The Delaware Basin deal includes acreage dedications for gathering, treating, processing, NGL transportation, and fractionation through 2046.
The Midland Basin agreement adds new acreage, extends existing fee-floor contracts through 2046, and includes 20-year NGL dedications to logistics systems.
