Targa Resources Partners
(NYSE: NGLS)
48.47
-0.34
-0.70%
-0.34
-0.70%
MORE ON NGLS
COMPANY INFORMATION
| Exchange: | New York Stock Exchange |
| Stock: | Targa Resources Partners LP |
| Industry: | Oil & Gas Midstream |
| Employees: | 1,096 |
DESCRIPTION
| Targa Resources Partners LP is a Delaware limited partnership formed on October 26, 2006 by its parent, Targa Resources, Inc. The Company is a provider of midstream natural gas and NGL services in the U.S., to own, operate, acquire and develop a portfolio of complementary midstream energy assets. The Company is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling NGLs and NGL products; gathering, storage and terminaling crude oil, and storing, terminaling and selling refined petroleum products. The Company’s operations are reported in two divisions: Gathering and Processing, consisting of two segments—Field Gathering and Processing; and Coastal Gathering and Processing; and Logistics and Marketing, consisting of two segments—Logistics Assets and Marketing and Distribution. Its wholesale propane marketing operations mainly sell propane and related logistics services to major multi-state retailers, independent retailers and other end-users. Its propane supply mainly originates from both its refinery/gas supply contracts and its other owned or managed logistics and marketing assets. The Company faces face strong competition in acquiring new natural gas supplies. The Company’s major competitors for natural gas supplies in its current operating regions include Atlas Gas Pipeline Company, Copano Energy, L.L.C., WTG Gas Processing, L.P., DCP Midstream Partners LP, Devon Energy Corp, Enbridge Inc, ONEOK – Rockies Midstream, L.L.C., GulfSouth Pipeline Company, LP, Hanlon Gas Processing, Ltd., J W Operating Company, Louisiana Intrastate Gas and several other interstate pipeline companies. Its competitors for crude oil gathering services in North Dakota include Arrow Midstream Holdings, LLC, Hiland Partners, LP, Great Northern Midstream LLC, Caliber Midstream Partners, LP and Bridger Pipeline LLC. The Company’s operations are subject to stringent and complex federal, state and local laws and regulations pertaining to health, safety and the environment. |
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