Targa Resources Unveils Ambitious Permian Expansion Plans

Targa Resources is investing heavily in the Permian Basin, announcing plans to build three new natural gas processing plants and a 70-mile pipeline. The Wrangler, Ranger, and Ranger II facilities will add 825 MMcf/d of processing capacity, targeting operations in the first half of 2028.

The infrastructure push comes as oil and gas production in the Permian continues to rise, generating more natural gas that needs to be processed and moved. LNG export growth, power generation demands tied to AI and data infrastructure, and strong Permian production are all driving demand for midstream capacity.

Targa has secured 20-year, fee-based agreements with ExxonMobil units covering natural gas gathering, processing, and downstream services in the Permian Basin. The long-term contracts provide revenue visibility and reduce volume risk, supporting major capital commitments.