Targa Resources provides updates on growth projects

Since the end of the first quarter 2019, Targa Resources Corp. has completed and commenced operations on a number of major growth projects, aggregating to about $3 billion of growth capital projects placed in service, the company says.

This includes the 250-million-cu.-ft.-per-day (MMcf/d) Hopson Plant in Permian-Midland; 100,000-barrels-per-day-(bpd) Train 6 fractionator in Mont Belvieu; 20-in. NGL pipeline from Mont Belvieu to the company’s Galena Park Marine Terminal; 200-MMcf/d Little Missouri 4 Plant in Badlands; Grand Prix NGL pipeline with service into Mont Belvieu; and the 250-MMcf/d Pembrook Plant in Permian-Midland (in startup).

Grand Prix recently commenced full operations. Deliveries into Mont Belvieu averaged about 230,000 bpd in September and are expected to further increase over the balance of 2019 as short-term, third-party transportation arrangements continue to roll off and additional gathering and processing facilities come online, the company says.

“Our gathering and processing and downstream systems continued to perform very well, bolstered by the partial quarter contribution of our recently completed Grand Prix NGL Pipeline,” says Joe Bob Perkins, CEO of the company, in a press release about its third-quarter results. “With the recent completion of Grand Prix and other important growth projects, we are beginning to demonstrate the strategic benefits of our premier integrated midstream position, and our cash flow profile is expected to strengthen meaningfully, positioning Targa well over the long term.”

Targa is a Houston-based provider of midstream services and is one of the largest independent midstream energy companies in North America.