Targa Resources Partners LP (NYSE:NGLS)

Targa Resources Partners LP provides midstream natural gas and natural gas liquid services in the United States. The company is engaged in the business of gathering, compressing, treating, processing and selling natural gas, storing, fractionating, treating, transporting and selling natural gas liquids, and NGL products and storing and terminaling refined petroleum products and crude oil. The company operates through two divisions: Natural Gas Gathering & Processing and Logistics & Marketing. Natural Gas Gathering & Processing division consists of two segments: Field Gathering & Processing and Coastal Gathering & Processing. The Natural Gas Gathering & Processing division includes assets used in the gathering of natural gas produced from oil and gas wells and processing this raw natural gas into merchantable natural gas by extracting NGLs and removing impurities. The Field Gathering & Processing segment gathers and processes natural gas from the Permian Basin in West Texas and Southeast New Mexico and the Fort Worth Basin, including the Barnett Shale, in North Texas. The Coastal Gathering & Processing segment assets are located in the onshore region of the Louisiana Gulf Coast and the Gulf of Mexico. The Logistics & Marketing division consists of two segments: Logistics Assets and Marketing & Distribution. The Logistics Assets segment is involved in transporting, storing, and fractionating mixed NGLs; storing, terminaling, and transporting finished NGLs; and storing and terminaling refined petroleum products and crude oil. Marketing & Distribution segment covers activities required to distribute and market raw and finished NGLs and all natural gas marketing activities. It includes marketing its own NGL production and purchasing NGL products in selected United States markets, providing liquefied petroleum gas balancing services to refinery customers, transporting, storing and selling propane and providing related propane logistics services to multi-state retailers, independent retailers and other end users; and marketing natural gas available to the company from its Natural Gas Gathering and Processing division and the purchase and resale and other value added activities related to third-party natural gas in selected United States markets. Targa Resources Partners was founded on October 26, 2006 and is headquartered in Houston, TX.