Targa Resources Corp. Barclays CEO Energy-Power Conference September 5, 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…
Strategic Outlook Investing in projects that leverage existing Targa infrastructure and further strengthen competitive advantage 75% of announced growth capital program focused on the Permian Basin (1) Increasing producer…
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 Aug 2018: gatherers and processors of…
Targas Premier Permian Position Legend Active Rigs (8/5/18) Processing Plant Processing Plant In Progress Multi-plant, multi- Crude Terminal system Permian Existing Gathering Pipeline Grand Prix In Progress footprint, GCX in…
Permian Midland Basin Expansions to Keep Pace with Growth Asset Map and Rig Activity(2) Legend Targa Midland Basin Inlet Volume(1) Active Rigs (8/5/18) 1,400 Processing Plant Processing Plant In Progress 1,200 Crude Terminal…
Permian Delaware Basin Expansions to Keep Pace with Growth Asset Map and Rig Activity(2) Legend Targa Delaware Basin Inlet Volume(1) Active Rigs (8/5/18) 600 Processing Plant Processing Plant In Progress 500 Crude Terminal…
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…
Downstream Assets: Linking Supply to Demand Grand Prix to Superior Most flexible LPG connect growing Premier export facility along Growing Targa and connectivity to NGL supply to NGL fractionation the US Gulf Coast; third-party…
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…
Strategic Residue Takeaway - 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 enhances…
Strategic Residue Takeaway - Whistler Pipeline Whistler Pipeline Proposed Route Proposed Project Overview: Targa, NextEra, WhiteWater Midstream and MPLX LP have executed an LOI to jointly develop the Whistler Pipeline Project…
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%…
Infrastructure Investments Focused on the Permian An increasing fee-based and operating margin outlook underpinned by attractive organic growth projects underway, with 75%(1) of total project capex focused on the Permian Basin…
Investments in Oklahoma, Bakken and Eagle Ford Infrastructure investments in Oklahoma, Bakken and Eagle Ford support growing production Joint venture arrangements enhance project returns and support capital efficiency In-Service…
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…
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…
Visit us at targaresources.com Contact Information: Email: InvestorRelationstargaresources.com Phone: (713) 584-1000 811 Louisiana Street Suite 2100 Houston, TX 77002
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