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Targa Resources Partners LP (NGLS)

64.85 Up 1.15(1.81%) 4:02PM EDT
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Targa Resources Partners LP
1000 Louisiana Street
Suite 4300
Houston, TX 77002
United States - Map
Phone: 713-584-1000
Fax: 713-584-1100

Index Membership:N/A
Sector:Basic Materials
Industry:Oil & Gas Pipelines
Full Time Employees:N/A

Business Summary 

Targa Resources Partners LP is engaged in the ownership, operation, acquisition, and development of midstream energy assets in the United States. The company operates through two divisions, Gathering and Processing, and Logistics and Marketing. The Gathering and Processing division is involved in gathering, compressing, dehydrating, treating, conditioning, processing, and marketing natural gas; and gathering crude oil. This division gathers and processes natural gas from the Permian Basin in West Texas and Southeast New Mexico; the Fort Worth Basin, including the Barnett Shale in North Texas; and the Williston Basin in North Dakota, as well as from the onshore region of the Louisiana Gulf Coast and the Gulf of Mexico. Its gathering systems comprise approximately 11,300 miles of natural gas pipelines. This division sells its residue gas to end users, such as commercial and industrial customers; and natural gas and electric utilities serving individual consumers. The Logistics and Marketing division converts mixed natural gas liquids (NGLs) into NGL products; provides value added services, including fractioning, storing, terminaling, transporting, distributing, and marketing NGLs and NGL products; and stores refined petroleum products and crude oil, as well as supplies and markets natural gas. This division serves end-users of NGL products, such as petrochemical and refining companies, and propane markets for heating, cooking, or crop drying applications through pipelines, barges, trucks, and rail cars. It owns or operates 39 storage wells with a storage capacity of approximately 64 million barrels. As of December 31, 2013, this division’s transportation assets consisted of approximately 700 railcars, 80 owned and leased transport tractors, and 18 company-owned pressurized NGL barges. The company was founded in 2006 and is headquartered in Houston, Texas. Targa Resources Partners LP is a subsidiary of Targa Resources Corp.

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Key Executives 
Mr. Rene R. Joyce , 66
Exec. Chairman of Targa Resources GP LLC
Mr. Joe Bob Perkins , 54
Chief Exec. Officer of Targa Resources GP LLC and Director of Targa Resources GP LLC
Mr. Michael A. Heim , 66
Pres of Targa Resources GP LLC and Chief Operating Officer of Targa Resources GP LLC
Mr. Matthew J. Meloy , 36
Chief Financial Officer of Targa Resources GP LLC, Sr. VP of Targa Resources GP LLC and Treasurer of Targa Resources GP LLC
Mr. James W. Whalen , 72
Advisor to Chairman & Chief Exec. Officer of Targa Resources GP LLC and Director of Targa Resources GP LLC
Amounts are as of Dec 31, 2013 and compensation values are for the last fiscal year ending on that date. Pay is salary, bonuses, etc.Exercised is the value of options exercised during the fiscal year.
Currency in USD.
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