Stock Report: Targa Resources Partners L.P. (NGLS) Report Updated: Jun 17, 2013 | Print This Page

Targa Resources Partners LP provides midstream natural gas and natural gas liquid (NGL) services in the United States. The company operates in two divisions, Natural Gas Gathering and Processing, and Logistics and Marketing. The Natural Gas Gathering and Processing division engages in gathering, compressing, dehydrating, treating, conditioning, processing, transporting, and marketing natural gas. This division gathers and processes natural gas from the Permian Basin in west Texas and southeast New Mexico; and the Fort Worth Basin, including the Barnett Shale, in north Texas, as well as from the onshore and near offshore regions of the Louisiana Gulf Coast and the Gulf of Mexico. Its gathering systems include approximately 10,400 miles of natural gas pipelines. This division sells its residue gas to end users comprising commercial and industrial customers, as well as natural gas and electric utilities. The Logistics and Marketing division is involved in converting mixed NGLs into NGL products; providing propane and related logistics, and NGL balancing services; and offering value added services, such as the fractionating, storing, terminaling, transporting, distributing, and marketing NGLs, refined petroleum products, and crude oil, as well as natural gas supplying and marketing services. This division serves end-users of NGL products comprising petrochemical and refining companies, and propane markets for heating, cooking, or crop drying applications through pipelines, barges, trucks, and rail cars. As of December 31, 2011, it owned or operated 39 storage wells with a storage capacity of approximately 64 million barrels; and approximately 565 railcars, 74 owned and leased transport tractors, 100 company owned tank trailers, and 18 company-owned pressurized NGL barges. The company was founded in 2006 and is based in Houston, Texas. Targa Resources Partners LP is a subsidiary of Targa Resources Corp.