Targa Resources Slides 1.08% on 340M Volume Ranking 291st as Permian Output Hits 6.3 Bcfd and Projects Accelerate

Targa Resources (TRGP) closed 2025’s trading session down 1.08% with $340 million in volume, ranking 291st in market activity. The midstream operator reported record Permian natural gas volumes of 6.3 Bcf/d in Q2, a 11% annual increase, and accelerated project timelines including the Bull Moose II plant and Delaware Express expansion. CEO Matt Meloy emphasized sustained 2026 growth potential despite macroeconomic volatility, while President Jennifer Kneale highlighted post-maintenance fractionation volumes exceeding 1 million barrels per day.

Financially, Targa posted an 18% year-over-year rise in adjusted EBITDA to $1.163 billion, driven by Permian throughput and Bakken asset consolidation. The company raised 2025 capex guidance to $3 billion and launched a $1 billion share repurchase program. Strategic projects like the Pembrook 2 processing unit in the Midland Basin are progressing ahead of schedule, reinforcing confidence in long-term volume expansion.

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