Targa Resources Acquires Stakeholder Midstream for $1.25 Billion to Expand Permian Basin Operations.

Targa Resources Corp. agreed to buy Stakeholder Midstream for $1.25 billion in cash, expanding its gas pipeline and storage capacity in the Permian Basin. The deal includes 480 miles of gas pipelines, 180 million cubic feet per day of cryogenic processing capacity, and a small crude oil gathering system. Targa plans to fund the acquisition with cash on hand and a $3.5 billion revolving credit facility. The transaction is expected to close in Q1 2026.