Targa Resources Projects $6 Billion Adjusted EBITDA for 2026 Amid Record Permian Volumes
Targa Resources (TRGP) reported a strong third quarter, driven by record-breaking NGL transportation and fractionation volumes in the Permian Basin. CEO Matt Meloy highlighted significant growth in natural gas throughput, noting an increase of more than 900 million cubic feet per day within the region. Looking ahead, the company has provided optimistic long-term guidance, projecting at least $6 billion in adjusted EBITDA by 2026. Targa is also advancing its infrastructure pipeline, specifically targeting a Q1 2029 completion for the Mont Belvieu Train 14 project to support future capacity needs.
Tickers: $TRGP
Topics: earnings report natural gas volumes NGL transportation Permian Basin