Targa Prepares for Next Waha Squeeze Amid Tightening Basis Spreads

Targa Resources is preparing its Permian Basin natural gas infrastructure for another potential price dislocation in the Waha market, despite concerns that new takeaway capacity will narrow basis spreads.

The company's executives stated that they are keeping their facilities primed to capture the next Waha squeeze, even as marketing gains from the first half of the year slow down.

Promising figures include Permian volumes reaching a record 7.2 Bcf/d and marketing beating expectations by $250M. Additionally, Waha January forwards topped $3.