Targa Resources Partners LP (NYSE:NGLS)

63.66
Data as of Oct 24
 -0.09 / -0.14%
Today’s Change
48.09
Today|||52-Week Range
83.49
+21.72%
Year-to-Date
SECTOR
Energy Minerals
INDUSTRY
Oil Refining/Marketing
MARKET CAP
$7.5B

Company Description

Targa Resources Partners LP provides midstream natural gas, natural gas liquid terminaling, and crude oil gathering 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. The Natural Gas Gathering and Processing division consists of two segments: Field Gathering & Processing and Coastal Gathering & Processing. The Natural Gas Gathering and 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 and 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 and Processing segment assets are located in the onshore region of the Louisiana Gulf Coast and the Gulf of Mexico. The Logistics and 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. The Marketing and 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 the U. S. 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 the U. S. markets. Targa Resources Partners was founded on October 26, 2006 and is headquartered in Houston, TX.

Contact Information

Targa Resources Partners LP
1000 Louisiana Street
Houston Texas 77002
P:(713) 584-1000
Investor Relations:
(713) 584-1133

Employees

Shareholders

Other institutional30.29%
Mutual fund holders28.76%
Individual stakeholders11.73%

Top Executives

Joe Robert PerkinsChief Executive Officer & Director
Michael A. HeimPresident & Chief Operating Officer
Matthew J. MeloyCFO, Treasurer, SVP & Investor Relations Contact
Joe BrassFinance Director & Head-Investor Relations
Jeffrey J. McParlandPresident-Finance & Administration

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