Targa Resources Partners LP (NGLS)

[Timothy Smith]

Targa Resources Partners (NGLS) is a provider of natural gas and NGL products with existing gathering and processing facilities of 12,500 miles in pipelines and 20 plants.

Its services include gas gathering, processing, treating, fractionation, storage terminalling, and transportation throughout the United States. The company has access to the oil and gas producing regions including the Permian Basin, Fort Worth / Bend Arch Basin, South Louisiana Basin and deepwater, deep shelf Gulf of Mexico natural gas reserves.

Like other MLPs, NGLS is also targeting various shale gas concessions through acquisitions and capital expenditure (US$1.9 billion planned for 2012-2014) to strategically position itself.

This includes export-oriented infrastructure with the company currently spending US$480m to add pipelines and docks to almost triple the current capacity by Q3-2014.