Targa Resources Corp. Announces Permian Growth Projects and an Expansion of its Permian to Mont Belvieu NGL Pipeline Transportation System
Targa Resources Corp. (NYSE:TRGP) has announced significant infrastructure expansion projects in the Permian Basin to support growing NGL and natural gas production. The company will construct the Speedway NGL Pipeline, a 500-mile, 30-inch diameter pipeline with an initial capacity of 500 MBbl/d (expandable to 1,000 MBbl/d), connecting Permian Basin assets to Mont Belvieu, Texas, at an estimated cost of $1.6 billion.
Additionally, Targa will build the 275 MMcf/d Yeti gas processing plant and implement the Buffalo Run project, which includes a 35-mile natural gas pipeline and a 55-mile pipeline conversion. The company is currently constructing five gas processing plants with a total capacity of 1.4 Bcf/d. These projects will increase Targa's 2025 net growth capital expenditures to approximately $3.3 billion.
Targa Resources Corp. (NYSE:TRGP) ha annunciato importanti progetti di espansione infrastrutturale nel Permiano per sostenere la crescita della produzione di NGL e gas naturale. L'azienda costruirà la Speedway NGL Pipeline, una condotta di 500 miglia di lunghezza e 30 pollici di diametro, con una capacità iniziale di 500 MBbl/d (espandibile fino a 1.000 MBbl/d), collegando asset del Permian Basin a Mont Belvieu, in Texas, al costo stimato di $1.6 miliardi.
Inoltre, Targa realizzerà la 275 MMcf/d Yeti gas processing plant e implementerà il Buffalo Run project, che comprende una condotta di gas naturale di 35 miglia e una conversione di una condotta di 55 miglia. L'azienda sta attualmente costruendo cinque impianti di processamento del gas con una capacità totale di 1.4 Bcf/d. Questi progetti aumenteranno le spese di capitale per la crescita netta di Targa nel 2025 a circa $3.3 miliardi.
Targa Resources Corp. (NYSE:TRGP) ha anunciado importantes proyectos de expansión de infraestructura en la cuenca de Permian para apoyar la creciente producción de NGL y gas natural. La compañía construirá la Speedway NGL Pipeline, un gasoducto de 500 millas de longitud y 30 pulgadas de diámetro, con una capacidad inicial de 500 MBbl/d (ampliable a 1.000 MBbl/d), conectando activos del Permian Basin a Mont Belvieu, Texas, con un costo estimado de $1.6 mil millones.
Además, Targa levantará la planta de procesamiento de gas Yeti de 275 MMcf/d y ejecutará el proyecto Buffalo Run, que incluye un gasoducto de 35 millas y la conversión de un gasoducto de 55 millas. Actualmente la compañía está construyendo cinco plantas de procesamiento de gas con una capacidad total de 1.4 Bcf/d. Estos proyectos aumentarán los gastos de capital de crecimiento neto de Targa para 2025 a aproximadamente $3.3 mil millones.
Targa Resources Corp. (NYSE:TRGP)는 증가하는 NGL 및 천연가스 생산을 지원하기 위해 Permian Basin에서 인프라 확장 프로젝트를 발표했습니다. 회사는 Speedway NGL Pipeline을 구축할 것이며, 이는 길이 500마일, 직경 30인치의 파이프라인으로 초기 용량은 500 MBbl/d이며 1,000 MBbl/d까지 확장 가능하고 Permian Basin 자산을 몬트 벨뷰(Mont Belvieu), 텍사스와 연결합니다. 예상 비용은 $1.6십억입니다.
또한 275 MMcf/d Yeti 가스 처리 공장을 건설하고 Buffalo Run 프로젝트를 실행합니다. 이 프로젝트에는 35마일의 천연가스 파이프라인과 55마일의 파이프라인 전환이 포함됩니다. 현재 회사는 총 용량 1.4 Bcf/d인 다섯 개의 가스 처리 공장을 건설 중이며, 이들 프로젝트로 2025년 순 성장 자본 지출이 약 $3.3십억으로 증가할 것입니다.
Targa Resources Corp. (NYSE:TRGP) a annoncé d’importants projets d’expansion des infrastructures dans le bassin Permien pour soutenir la production croissante de NGL et de gaz naturel. L’entreprise va construire la pipeline Speedway NGL, un oléoduc de 500 miles de long et de 30 pouces de diamètre, avec une capacité initiale de 500 MBbl/d (évolutive jusqu’à 1 000 MBbl/d), reliant les actifs du Permian Basin à Mont Belvieu, Texas, pour un coût estimé de 1,6 milliard de dollars.
De plus, Targa mettra en œuvre la centrale de traitement du gaz Yeti de 275 MMcf/d et réalisera le projet Buffalo Run, qui comprend un oléoduc de gaz de 35 miles et une conversion d’un oléoduc de 55 miles. La société construit actuellement cinq usines de traitement du gaz d’une capacité totale de 1,4 Bcf/d. Ces projets augmenteront les dépenses en capital nettes de croissance de Targa pour 2025 à environ 3,3 milliards de dollars.
Targa Resources Corp. (NYSE:TRGP) hat bedeutende Infrastruktur-Erweiterungsprojekte im Permian Basin angekündigt, um die wachsende Produktion von NGL und Erdgas zu unterstützen. Das Unternehmen wird die Speedway NGL Pipeline bauen, eine 500 Meilen lange Pipeline mit einem Durchmesser von 30 Zoll und anfänglicher Kapazität von 500 MBbl/d (erweiterbar auf 1.000 MBbl/d), die Vermögenswerte im Permian Basin mit Mont Belvieu, Texas, verbindet, zu geschätzten Kosten von 1,6 Milliarden USD.
Zusätzlich wird Targa die 275 MMcf/d Yeti-Gasverarbeitungsanlage errichten und das Buffalo Run-Projekt umsetzen, das eine 35-Meilen-Gas-Pipeline und eine 55-Meilen-Pipeline-Konversion umfasst. Das Unternehmen baut derzeit fünf Gasaufbereitungsanlagen mit einer Gesamtleistung von 1,4 Bcf/d. Diese Projekte werden die Netto-Wachstums-CAPEX von Targa im Jahr 2025 auf rund 3,3 Milliarden USD erhöhen.
Targa Resources Corp. (NYSE:TRGP) أعلنت عن مشاريع توسع بنية تحتية كبيرة في حوض بيرمين بهدف دعم زيادة إنتاج NGL والغاز الطبيعي. ستبني الشركة خط أنابيب Speedway NGL، بطول 500 ميل وقطر 30 بوصة، بسعة ابتدائية قدرها 500 MBbl/d (قابلة للتوسع حتى 1,000 MBbl/d)، ويربط أصول الحوض بمونت بلفيو، تكساس، بتكلفة تقديرية قدرها $1.6 مليار.
بالإضافة إلى ذلك، ستبني Targa مصنع معالجة الغاز Yeti بسعة 275 MMcf/d وتنفذ مشروع Buffalo Run، الذي يشمل خط أنابيب غاز بطول 35 ميلاً وتحويل خط أنابيب بطول 55 ميلاً. الشركة تبني حالياً خمس مصافي لمعالجة الغاز بإجمالي قدرة قدرها 1.4 Bcf/d. هذه المشاريع ستزيد النفقات الرأسمالية للنمو الصافي لتارغا لعام 2025 إلى نحو $3.3 مليار.
Targa Resources Corp.（NYSE:TRGP）宣布在伯曼盆地的基础设施重大扩张项目，以支持不断增长的NGL和天然气产量。公司将建设 Speedway NGL Pipeline，长约500英里、直径30英寸的管道，初始容量为500 MBbl/d（可扩展至1,000 MBbl/d），连接伯曼盆地资产至德州蒙特贝尔维尤，估计成本为$1.6 十亿美元。
此外，Targa 将建设 275 MMcf/d Yeti 天然气处理厂并实施 Buffalo Run 项目，其中包括一条35英里的天然气管道和一条55英里的管道改造。公司目前正在建设五座天然气处理厂，总容量为1.4 Bcf/d。这些项目将使 Targa 在2025年的净增长资本支出约增至$3.3 十亿美元。
- Construction of Speedway Pipeline will significantly expand NGL transportation capacity by 500 MBbl/d, expandable to 1,000 MBbl/d
- Five new gas processing plants under construction will add 1.4 Bcf/d processing capacity
- Buffalo Run project will enhance system connectivity and provide better flow assurance
- Strong volume growth across Permian Basin assets with robust outlook for 2026
- Current NGL transportation system already handling ~1 million barrels per day
- Significant capital expenditure requirement of $3.3 billion for 2025
- Projects face completion risk with Speedway not operational until Q3 2027
- Large-scale infrastructure projects subject to potential cost overruns and delays
Insights
Targa's $1.6B Speedway pipeline and Yeti plant expansions address critical Permian Basin capacity needs, showcasing strong infrastructure growth strategy.
Targa's announcement represents a significant expansion of its midstream infrastructure to accommodate the growing production volumes in the Permian Basin. The new Speedway NGL Pipeline - a 500-mile, 30-inch pipeline with initial capacity of 500 MBbl/d (expandable to 1,000 MBbl/d) - addresses a critical transportation need as the company currently moves ~1 million barrels per day of NGLs on its existing system.
The $1.6 billion Speedway investment, expected online in Q3 2027, represents a strategic vertical integration that strengthens Targa's wellhead-to-water capabilities. This provides important flow assurance for producers and enhances Targa's competitive positioning against other midstream operators.
Additionally, the 275 MMcf/d Yeti processing plant adds to an already impressive construction slate of five plants totaling 1.4 Bcf/d of capacity coming online over the next two years. These plants are projected to produce ~175-200 MBbl/d of NGLs, creating a natural supply source for the new Speedway pipeline.
The Buffalo Run pipeline project further enhances system connectivity and reliability, addressing gas takeaway constraints that have historically challenged Permian producers. By connecting its Midland and Delaware systems, Targa gains operational flexibility and can optimize gas flows across its entire Permian footprint.
Management's commentary on "meaningful volume growth" and a "robust" 2026 outlook signals strong utilization expectations for these assets, supported by the continuing trend of rising gas-to-oil ratios in Permian production. The $3.3 billion 2025 capital program reflects confidence in both near and long-term demand for midstream services in the basin.
HOUSTON, Sept. 30, 2025 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) (“Targa” or “the Company”) announced today new organic growth projects to support continuing NGL and natural gas production growth in the Permian Basin and to meet the infrastructure needs of its customers.
With ~1 million barrels per day of natural gas liquids (“NGLs”) currently being transported on Targa’s existing NGL transportation system, including volumes from the Pembrook II plant that came online during the third quarter of 2025 in the Permian Midland and is currently running at high utilization, Targa is moving forward with plans to construct the Speedway NGL Pipeline (“Speedway”). Speedway will transport NGLs from Targa’s existing assets and future plant additions, including a new processing plant announced today, in the Permian Basin to Targa’s fractionation and storage complex in Mont Belvieu, Texas. The project consists of ~500 miles of 30 inch diameter pipeline and associated infrastructure with an initial capacity of ~500 thousand barrels per day (“MBbl/d”), expandable to 1,000 MBbl/d. Speedway is expected to be in-service in the third quarter of 2027 at an estimated cost of approximately
To accommodate future growth on Targa’s Permian Delaware system, the Company is also moving forward with the construction of its next 275 million cubic feet per day (“MMcf/d”) gas processing plant, the Yeti plant, which is expected to be in-service in the third quarter of 2027. Including the Yeti plant, Targa is constructing five gas processing plants in the Permian that will be online over the next two years, with an aggregate inlet capacity of 1.4 billion cubic feet per day (“Bcf/d”) and estimated NGL production of ~175 to 200 MBbl/d.
Targa also announced today a new 35-mile natural gas pipeline that will enhance connectivity across several Targa plants in the Permian Midland and a 55-mile conversion of an existing Targa pipeline into natural gas service (together "Buffalo Run") that will connect Targa's Midland and Delaware intra-basin natural gas systems. The combination of Buffalo Run and Targa's previously announced Bull Run Extension will enhance connectivity to multiple markets, including the Waha hub, and will add meaningful natural gas flow assurance and reliability for Targa's customers. Including the pipeline conversion, Buffalo Run is expected to be completed in stages and fully complete in early 2028.
With today’s announcement of Speedway, Buffalo Run and the Yeti plant, Targa now estimates total net growth capital expenditures for 2025 to be around
“We have benefited from meaningful volume growth across our Permian Basin assets this year, and our outlook for volume growth in 2026 continues to remain robust. Given the NGLs currently flowing through our system and numerous plant additions in progress, we will have significantly more volumes to move on Speedway when it comes into service. The strength of our outlook over the near, medium and long term is supported by multiple factors, including our continued volume ramp during the third quarter, the bottom-up forecast we see from our customer base, and the continued industry trend of rising gas-to-oil ratios in the basin. Speedway is critical to the continued execution of our core integrated wellhead to water strategy, will generate attractive and growing fee-based cash flows, and will provide Targa with significant operating leverage once in service,” said Matt Meloy, Targa’s Chief Executive Officer.
The Company posted a new investor presentation on its website at www.targaresources.com in the Events and Presentation section of the Investors page.
About Targa Resources Corp.
Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent infrastructure companies in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary domestic infrastructure assets and its operations are critical to the efficient, safe and reliable delivery of energy across the United States and increasingly to the world. The Company’s assets connect natural gas and NGLs to domestic and international markets with growing demand for cleaner fuels and feedstocks. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas; transporting, storing, fractionating, treating, and purchasing and selling NGLs and NGL products, including services to LPG exporters; and gathering, storing, terminaling, and purchasing and selling crude oil.
Targa is a FORTUNE 500 company and is included in the S&P 500.
For more information, please visit the Company’s website at www.targaresources.com.
Forward-Looking Statements
Certain statements in this release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, are forward-looking statements, including statements regarding the timing of completion and ultimate financial and operational performance of the organic growth projects described in this press release. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside the Company’s control, which could cause results to differ materially from those expected by management of the Company. Such risks and uncertainties include, but are not limited to, actions taken by other countries with significant hydrocarbon production, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, the timing and success of our completion of capital projects and business development efforts, the expected growth of volumes on our systems, the impact of significant public health crises, commodity price volatility due to ongoing or new global conflicts, the impact of disruptions in the bank and capital markets, changes in laws and regulations, particularly with regard to taxes, tariffs and international trade, and other uncertainties. These and other applicable uncertainties, factors and risks are described more fully in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company does not undertake an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Targa Investor Relations
InvestorRelations@targaresources.com
(713) 584-1133
FAQ
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