Houston-based Targa Resources said last week it plans to construct a new fractionation Train 10 (120 thousand barrels per day) in Mont Belvieu to handle continued supply growth from its Permian Basin gathering and processing systems and third parties. And Targa also said May 4 that it is ordering long-lead-time items for another gas plant in Permian Basin. Targa estimates total net growth capital expenditures for 2023 now will be $2.0 billion to $2.2 billion.
Construction on several Targa projects continues, including the Greenwood plant (275 MMcfd) in Midland Basin and three plants in Delaware Basin – Midway (275 MMcfd), Wildcat II (275 MMcfd) and Roadrunner II (230 MMcfd). And construction continues in Targa’s logistics and transportation systems on Train 9 (120 thousand barrels per day) in Mont Belvieu and the Daytona NGL pipeline.
Targa, a leading provider of midstream services, is one of the largest independent midstream infrastructure companies in North America. Its gathering and processing assets are located in Permian (central, Delaware and Midland basins), Eagle Ford, Barnett Shale and other basins in Oklahoma, Kansas, Louisiana and North Dakota.