Targa secures 20-year ExxonMobil agreements and announces new Permian plants
The company updates its 2026 capital estimate to $5 billion. Bull Run II pipeline support is included in the growth plans.
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Midstream energy infrastructure company
targaresources.comLast updated
In short: Targa achieved record profits on high Permian volumes, raised its dividend by 25%, and signed 20-year gas plant deals with ExxonMobil.
The company updates its 2026 capital estimate to $5 billion. Bull Run II pipeline support is included in the growth plans.
Second quarter adjusted EBITDA reaches $1.6 billion with record volumes in the Permian Basin. The company raises full-year EBITDA guidance towards $5.9 billion and declares a $5.00 annualized dividend.
The $1.25 per share dividend is payable August 14, 2026, and the Q2 2026 earnings webcast will be held August 6, 2026.
Adjusted EBITDA reaches $1.4 billion, up 19% YoY. Increases 2026 outlook to $5.7-5.9 billion. Completes new plants and announces more projects. Raises dividend 25%.
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