WASHINGTON (dpa-AFX) - While reporting its third-quarter financial results, Targa Resources Corp. (TRGP) also shared some significant business updates.
The company stated that it has ordered long-lead items for its next processing plant in the Permian Midland and its next two processing plants in the Permian Delaware due to increased production. It expects these new plants to be needed in 2028 or early 2029.
Also, in response to increasing production and to meet the infrastructure needs of its customers, the company has announced a new 150 thousand barrels per day NGL fractionator, Train 14, in Mont Belvieu, TX. Train 14 is expected to begin operations in the first quarter of 2029.
In pre-market hours, TRGP was trading at $280.00, down 1.64 percent on the NYSE.
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