|
Targa Resources Stage: Growth Date of Investment: 2004 Web Site : http://www.targaresources.com
|
 |
Targa Resources is an independent company that was formed by Warburg Pincus and management in 2003 to pursue gas gathering, processing and pipeline asset acquisition opportunities. The company's strategy is to acquire high quality assets and grow this base into a leading focused midstream energy company, predominantly in the Gulf Coast, Mid-Continent and Rocky Mountain regions of the United States. In April 2004, Targa acquired from ConocoPhillips assets in Texas and Louisiana. The Texas assets consist of an integrated gathering and processing system with approximately 1,200 miles of low and high-pressure lines, gathering from approximately 2,800 wells and 750 wellhead and central delivery locations in the Permian Basin, covering parts of eight counties from San Angelo to Big Springs. The Louisiana assets also consist of an integrated gathering and processing system, covering approximately 2,000 square miles from Lake Charles to Lafayette, with approximately 700 miles of pipeline and processing capacity of about 260 MMcfd and 14 MBD of NGL raw mix production. In 2005, Targa acquired Dynegy's midstream natural gas business. The company is actively pursuing additional midstream acquisition opportunities. Targa is based in Houston, Texas.
