Targa Resources Corp.: directors' dealings · United States · SEC (Form 4)

About Targa Resources Corp.

Targa Resources Corp. (NYSE: TRGP) is a U.S.-listed energy infrastructure company traded on the NYSE in the United States. It is focused on midstream natural gas and natural gas liquids (NGL) services, operating a complementary portfolio of assets that links producing basins to processing facilities, pipelines, fractionation plants, storage sites and end markets. The company is headquartered in Houston, Texas, a core hub of the U.S. oil and gas industry. Targa was formed in October 2005 and has since grown into one of the largest independent midstream infrastructure platforms in North America. Targa’s business model is built around two main pillars: gathering and processing, and logistics and transportation / fractionation. In practice, the company gathers raw natural gas from producer fields, compresses and treats it, extracts valuable liquids, then moves the gas and NGLs through transportation, storage and fractionation systems. These services are essential to the energy value chain because they enable production from major shale basins to reach petrochemical customers, domestic markets and export channels. Rather than acting as a pure commodity producer, Targa monetizes infrastructure capacity, throughput and processing services, which makes its economics more closely tied to production volumes and network utilization. From a competitive standpoint, Targa is widely regarded as a leading independent midstream operator in North America. Its footprint is especially strong in the Permian Basin, one of the most important oil and gas production regions in the United States, and along the U.S. Gulf Coast, where large-scale petrochemical demand, export facilities and industrial consumers are concentrated. This geographic positioning gives the company access to major supply corridors and end markets, while also strengthening its role in the U.S. energy export ecosystem. Key services include natural gas gathering, compression, treating and processing; NGL transportation, storage and fractionation; NGL balancing services; and in some cases the purchase, marketing and resale of natural gas. Recent developments have been constructive. In 2025 and 2026, Targa reported record financial performance, raised its full-year outlook, and highlighted continued growth in the Permian, including project completions and new processing capacity. The company also continued to return capital to shareholders through dividends, while using debt proceeds to refinance part of its capital structure and repay existing borrowings. For international investors, Targa stands out as a high-quality U.S. midstream name with exposure to structural gas and NGL growth, shale development, and the long-term buildout of American energy infrastructure.