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Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp.

Targa Resources Corp. · Dec 8, 2020 · 37 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 1
    Targa Resources Corp. Wells Fargo Virtual Midstream and Utility Symposium December 8, 2020
  2. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 2
    Premier Midstream Infrastructure Company Diverse Asset Platform Connects Natural Gas and NGL Supply Growth to Key Demand Markets Substantial natural gas gathering & processing in multiple basins 10.8 Bcf/d gross processing…
  3. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 3
    Targa Business Overview Portfolio of Integrated Assets Across Natural Gas and Natural Gas Liquids Value Chain Residue Natural Gas Domestic Residue Demand Centers Domestic NGL Demand Centers Power Plants / Generation Petrochemical…
  4. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 4
    Well-Positioned Midstream Infrastructure Company Integrated Asset Financial Positioned for Position Flexibility Long-Term Success One of the largest G&P Reduced capital spending Integrated 2 asset platform positions in the…
  5. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 5
    Integrated Platform Supports Fee-Based Profile Business Mix and Fee-Based Profile(1) Business Mix 2020E Fee-Based Profile 2020E Permian Basin Fractionation Gathering & Processing(2) Grand Prix Fractionation Bakken SouthOK /…
  6. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 6
    Q3 Earnings Update Remain focused on safeguarding employee health and safety and ensuring safe and reliable operations in response to COVID-19 Continue to remain proactive to protect our employees and ensure safe continuity of…
  7. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 7
    Growth Transformation Complete - Improving FCF Profile Increasing FCF positions Targa to continue to execute long term strategy of reducing leverage over time Transformation of asset footprint from growth capital investments is…
  8. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 8
    Targa Development Company Joint Ventures (DevCo JVs) In February 2018, Targa executed DevCo JVs with Stonepeak Infrastructure Partners to support the development of three key fee- based downstream assets, with Targa retaining the…
  9. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 9
    Financial Position and Leverage Protecting the balance sheet while maintaining flexibility remain key objectives Strong available liquidity position of 2.6 billion Leverage and Liquidity Senior Note Maturities(3)(4) Leverage(1)…
  10. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 10
    Integrated Infrastructure Platform
  11. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 11
    Targas Premier Permian Infrastructure Asset position across the Midland and Delaware Basins offers competitive, reliable and integrated G&P, NGL transportation and fractionation services to producer customers Legend Active Rigs…
  12. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 12
    Logistics & Transportation Assets: Linking Supply to Demand Grand Prix NGL Superior Pipeline connects Premier connectivity to Most flexible LPG supply to NGL fractionation demand (U.S. export facility along Targa and third- the US…
  13. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 13
    Targas Grand Prix NGL Pipeline Grand Prix deliveries into Mont Belvieu averaged 301 MBbl/d in Q3 2020 Permian Basin Grand Prix Volume Profile: Incremental NGLs from Targa Permian processing volume ramp and future…
  14. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 14
    NGL Production Feeds Targas Fractionation Assets Significant NGLs from Targa Permian Plants Targa Fractionation Outlook Net NGL Production Targa Fractionation Throughput Volume and Capacity(1) 400 800 Trains 7 & 8 350 700 300 600…
  15. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 15
    Financial Information
  16. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 16
    Corporate Structure TRC Public Shareholders (229.0 million shares)(1) Targa Resources Corp. (NYSE: TRGP) TRC Revolving Credit Facility (S&P: BB Preferred Moodys: Ba2) Shareholders 100% Interest Senior Notes Targa…
  17. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 17
    2020 Financial Estimates Adjusted EBITDA Estimate FY 2020E ( in millions) at or around the high end of 1,500 - 1,625 Capital Expenditure Estimates FY 2020E ( in millions) Net Growth Capital Expenditures 700 Gathering &…
  18. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 18
    Risk Management Hedging Program Further Strengthens Cash Flow Stability (1) Field G&P Hedging Update Commodity Price Sensitivity 2020 2021 Volumes Exposure Wtd. Avg. Volumes Exposure Wtd. Avg. (1) (2) (1) (2) Commodity Hedged…
  19. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 19
    Sustainability and ESG 20
  20. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 20
    Targa Sustainability and ESG Safety, Environmental, Social and Governance Targa is a leading energy infrastructure company focused on the transportation and storage of energy products, including natural gas. Our operations are…
  21. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 21
    Targa is Well-Positioned to Support Global Energy Needs Targas facilities helped export 3.6 billion gallons of LPGs globally in 2019 and helped reduce global CO2 emissions Targa is one of the largest aggregators of associated gas…
  22. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 22
    The U.S. is a Leader in Production of Natural Gas The U.S. leads the world in crude oil and natural gas production Cleaner burning natural gas has displaced coal as the leading source of power generation Increasing use of natural gas…
  23. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 23
    Global Demand for Natural Gas and LPG Continues to Increase Targa helps deliver efficient and reliable energy to the U.S. and to rest of the world safely Natural gas consumption is estimated to increase by 40% between now and…
  24. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 24
    LPGs Advance Progress Towards U.N. Sustainability Goals The United Nations ustainable Development Goals (SDGs) are to address all three dimensions of sustainable development (environmental, economic and social) and are integrated…
  25. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 25
    Gathering & Processing Segment
  26. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 26
    Extensive Field Gathering and Processing Position Summary Footprint 6.3 Bcf/d of gross processing capacity(1)(2) Significant acreage dedications in the Permian Basin, Bakken, SCOOP, STACK and Eagle Ford Mix of fee-based and POP…
  27. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 27
    Permian Midland and Delaware G&P Footprint Permian Midland(1) Permian Delaware(1) Legend 1.3 Bcf/d of natural gas Legend Active Rigs (10/19/20) Active Rigs (10/19/20) Processing Plant processing capacity, Processing Plant…
  28. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 28
    Central G&P Footprint Oklahoma Summary WestOK(1) SouthOK(1) WestOK consists of 458 MMcf/d of processing capacity in STACK play Mix of fee-based and POP contracts SouthOK consists of 710 MMcf/d of gross processing capacity in…
  29. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 29
    Badlands G&P Footprint Summary Asset Map and Rig Activity(1) 460 miles of crude oil pipelines; 200 miles of natural gas gathering pipelines 290 MMcf/d of natural gas processing capacity Fee-based contracts Large acreage…
  30. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 30
    Coastal G&P Footprint Summary Footprint Asset position represents a competitively advantaged straddle option on Gulf of Mexico activity over time LOU (Louisiana Operating Unit) 440 MMcf/d of gas processing (180 MMcf/d Gillis…
  31. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 31
    Logistics & Transportation Segment
  32. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 32
    Downstream Capabilities Overview Downstream Businesses The Logistics and Transportation segment represents approximately NGL Transportation & Services 50% of total operating margin(1) Grand Prix NGL pipeline connects Targas G&P…
  33. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 33
    Logistics Assets Exceedingly Difficult to Duplicate Fractionators Gross Net Capacity Capacity (MBbl/d) (MBbl/d)(1) Mont Belvieu(1) CBF - Trains 1-3 253 223 CBF - Backend Capacity 40 35 CBF - Train 4 100 88 CBF - Train 5 100 88…
  34. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 34
    Targas LPG Export Services LPG Exports by Destination(1) Propane and Butane Exports(1) 7% 30% 27% 66% 70% Rest of World Latin America / South America Caribbean Propane Butane Galena Park LPG Export Volumes 9.0 LPG…
  35. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 35
    Reconciliations
  36. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 36
    Non-GAAP Reconciliations - Estimated 2020 Adjusted EBITDA Reconciliation of estimated net loss attributable to TRC to Full Year 2020E estimated Adjusted EBITDA (In millions) Net loss attributable to TRC (1,480.5) Impairment of…
  37. Wells Fargo Virtual Midstream and Utility Symposium – Targa Resources Corp. – slide 37
    Visit us at targaresources.com Contact Information: Email: InvestorRelationstargaresources.com Phone: (713) 584-1133 811 Louisiana Street Suite 2100 Houston, TX 77002

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