Targa Resources Corp. J.P. Morgan Energy Conference June 20, 2018 Joe Bob Perkins, CEO
Investment Highlights Positioned for Premier Asset Visible Financial Long-Term Position Growth Discipline Success Integrated Capital investments Strong balance Investments align midstream asset underway support sheet and liquidity…
Premier Integrated and Diverse Asset Footprint Integrated Midstream Platform Connects Lowest Cost Supply Growth to Key Demand Markets Substantial gas processing in top-tier basins 10.5 Bcf/d gross processing capacity and…
Permian Leads Domestic Production Growth Lower 48 Onshore Tight Oil Production Targa Asset Position 2,500 120 Permian Targa is one of the largest Use of horizontal drilling Permian Rig Count Jun 2018: gatherers and processors of…
Targas Premier Permian Position Legend Active Rigs (4/16/18) Processing Plant Processing Plant In Multi-plant, multi- Progress Crude Terminal system Permian Existing Gathering Pipeline footprint, Grand Prix In Progress GCX…
Permian Midland Basin Expansions to Keep Pace with Growth Asset Map and Rig Activity(2) Legend Targa Midland Basin Inlet Volume(1) Active Rigs (4/16/18) 1,400 Processing Plant Processing Plant In Progress 1,200 12 Crude…
Permian Delaware Basin Expansions to Keep Pace with Growth Asset Map and Rig Activity(2) Legend Targa Delaware Basin Inlet Volume(1) Active Rigs (4/16/18) Processing Plant 600 Processing Plant In Progress Crude Terminal 500…
Significant NGLs from Targa Permian Plants Gross NGL Production (MBbl/d) NGL production from Targas G&P footprint is expected to continue 250 to significantly increase Targas annual gross Permian NGL production has grown by an…
Increasing Permian Basin NGL Production Outlook The expected growth in Permian associated gas production will result in increasing NGL production Targas Downstream business is well positioned to handle the increase in NGL production…
Targas Grand Prix NGL Pipeline Project Grand Prix connects growing supply to premier NGL hub at Mont Belvieu Targa has the largest G&P position in the Permian Basin supported by substantial acreage dedications, in addition to its…
Targas Fractionation Footprint Grand Prix further bolsters volumes to Targas Mont Belvieu fractionation complex Grand Prix will direct significant NGL volumes to Targas fractionation complex from the Permian, Southern Oklahoma and…
Gulf Coast Express Pipeline (GCX) Delaware Basin Strategic Rationale: Midland Basin Secures reliable takeaway for increased natural gas production from the Permian Basin to premium markets along the Texas Gulf Coast Further…
2018 Announced Net Growth Capex 2018E net growth capex based on announced projects after DevCo JVs estimated at 2.2 billion; 85% of total G&P capex focused on the Permian; 75%(1) of total project capex focused on the Permian Total…
Business Mix, Diversity and Fee-Based Margin Business Mix Segment Operating Margin(1) Downstream Field Gathering & Processing Operating Margin 2018E(1) Operating Margin 2018E(1) 100% 100% 75% 75% 65% 50% 35% 50% 25% 25%…
Longer-Term Financial Outlook In June 2017, Targa published a longer-term financial outlook highlighting that attractive projects and system expansions were expected to drive increasing system volumes, translating into increasing…
2018 Financing Overview Significant multi-faceted progress made already in 2018 to finance growth capital program underway DevCo JVs announced in February 2018 reimbursed Targa for 190 million of capital already spent, and Stonepeak to…
Key Takeaways Right assets in the right places - integrated G&P asset platform in Strategically top-tier basins, with premier connectivity to demand markets Located Assets Premier position in the Permian Basin G&P volume growth…
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