Targa Resources signs 20-year midstream agreements with ExxonMobil in Permian Basin

Reuters2026/08/17 20:15

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Targa signed new 20-year fee-based integrated midstream agreements with ExxonMobil covering gathering, processing, and downstream services in the Permian.
Delaware Basin deal includes acreage dedications for gathering, treating, processing, NGL transportation, and fractionation through 2046.
Midland Basin agreement adds new acreage, extends existing fee-floor contracts through 2046, and includes 20-year NGL dedications to logistics systems.
Growth plans include three new Delaware gas processing plants totaling 825 MMcf/d and a 70-mile Bull Run II residue pipeline to Waha.
FY26 net growth capital forecast raised to about USD 5 billion to fund the Delaware buildout and associated infrastructure.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Targa Resources Corp. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202608171615PRIMZONEFULLFEED9811492) on August 17, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Targa Resources signs 20-year midstream agreements with ExxonMobil in Permian Basin

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