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Targa Resources Corp
Targa Resources Corp (TRGP) is a publicly traded company listed on the New York Stock Exchange (NYSE). It is an energy company that operates in the midstream and downstream sectors of the oil and gas industry. The company is involved in the gathering, processing, and transportation of natural gas and natural gas liquids (NGLs), as well as the storage and terminaling of crude oil and petroleum products.
Targa Resources was founded in 2006 and is headquartered in Houston, Texas. The company has operations in the Permian Basin, Badlands, and Barnett Shale plays in the United States, as well as in the Montney play in Canada.
Some key highlights and statistics about Targa Resources Corp include:
* Market capitalization: around $14.5 billion (as of March 11, 2023)
* Revenue: $3.58 billion (2022 annual revenue)
* Net income: $646 million (2022 annual net income)
* Total assets: $8.4 billion (2022 annual balance sheet)
* Total debt: $4.1 billion (2022 annual balance sheet)
* Number of employees: around 1,200
Targa Resources Corp has a diverse asset base, including:
* Gathering and processing assets: Targa owns and operates a network of natural gas gathering and processing assets in the Permian Basin, Badlands, and Barnett Shale plays. These assets include 16 natural gas processing plants, 12 gathering systems, and over 20,000 miles of gathering pipelines.
* Pipeline and storage assets: Targa owns interests in several major pipeline systems, including a 49.9% interest in the GTN pipeline, a 24.5% interest in the Grand Prix pipeline, and a 40% interest in the Tallgrass Pony Express pipeline. The company also owns and operates several crude oil and petroleum product storage facilities.
* NGLs and marketing: Targa operates an NGL marketing business that sells NGL products to petrochemical customers and propane to retail and wholesale customers.
Targa Resources Corp has a history of growth through acquisitions and organic development. In recent years, the company has made significant investments in its Permian Basin assets and has expanded its footprint in the DJ Basin through acquisitions.
The company's financial performance has been impacted by fluctuations in energy commodity prices, particularly natural gas and NGL prices. However, Targa Resources has a diversified revenue stream and a strong balance sheet, which has helped the company navigate through industry downturns.
Overall, Targa Resources Corp is a significant player in the North American energy midstream and downstream sectors, with a track record of growth, a strong financial position, and a diverse asset base.
Please note that this information is up to date as of March 11, 2023, and may change in the future.