TRGP

TRP expands its ExxonMobil pact through 2046, adding Permian acreage, 825 MMcf/d of processing capacity and Bull Run II.

Highlights Establishes new 20-year fee-based, integrated midstream agreements to support ExxonMobil's development of its premier Permian Basin acreage Establishes an extensive new area of mutual interest (AMI) across the Permian Delaware for gathering and processing, and downstream services for 20 years Adds new acreage to our existing AMI in the Permian Midland Extends Targa's current Permian Midland agreements to 20 years for gathering and processing, and downstream services Adds a new 20-year NGL dedication for transportation and fractionation services across both the Permian Delaware and Permian Midland Announced today three new natural gas processing plants in the Permian Delaware to support production growth in the area Evaluating up to five additional new processing plants in the Permian Delaware to accommodate expected production growth in the area over the longer term Announced today a new ~70-mile natural gas pipeline in the Permian Delaware (“Bull Run II”) to increase natural gas takeaway capacity to the Waha Hub Further enhances Targa's existing long-term relationship with ExxonMobil Updating full year 2026 net growth capital estimate to ~$5.0 billion HOUSTON, Aug. 17, 2026 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) today announced the execution of new long-term, integrated midstream agreements with subsidiaries of ExxonMobil, further strengthening the parties' strategic relationship across the Permian Basin. Targa has entered into long-term fee-based agreements with ExxonMobil for integrated natural gas gathering and processing (“G&P”) and downstream services in the Permian Basin.

TRGP beats Q2 earnings estimates as higher midstream fees and margins lift results, while lower commodity sales weigh on revenues.

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While the top- and bottom-line numbers for Targa Resources (TRGP) give a sense of how the business performed in the quarter ended June 2026, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Targa Resources, Inc. (TRGP) came out with quarterly earnings of $3.54 per share, beating the Zacks Consensus Estimate of $2.83 per share. This compares to earnings of $2.87 per share a year ago.

Targa Resources Corp. (TRGP) Q2 2026 Earnings Call Transcript

U.S. pipeline operator Targa Resources beat Wall Street estimates for second-quarter core profit on ​Thursday, as record Permian natural gas volumes ‌and higher demand for its transportation and export services boosted earnings.

HOUSTON, Aug. 06, 2026 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) (“TRGP,” the “Company” or “Targa”) today reported second quarter 2026 results.

Beyond analysts' top-and-bottom-line estimates for Targa Resources (TRGP), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended June 2026.