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Project(s): View 7 related projects in PECWeb
Plant(s): View 6 related plants in PECWeb
Released August 11, 2025 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Higher natural gas-gathering and transportation volumes, especially in the Permian Basin, propelled Targa Resources Corporation (Houston, Texas) to strong revenue and income growth for the second quarter. The company expects to see record volumes in its fractionation and pipeline business for the full year. Industrial Info is tracking more than $5.6 billion worth of active or proposed projects from Targa, more than $3 billion of which is attributed to grassroot projects.
Click on the image at right for a graph detailing Targa's active and proposed projects, by project type.
Despite lower commodity prices and higher operating expenses, Targa reported net income of $629.1 million for second-quarter 2025, compared with $298.5 million in the same period last year. Total revenues stood at $4.26 billion, a 19.6% increase.
For full-year 2025, Targa expects its capital spending from growth-oriented projects to total about $3 billion, while its capital spending from maintenance-related projects to total about $250 million. Among the projects Targa expects to complete in the coming months is a $150 million second train at its Pembrook Gas-Processing Plant in Midkiff, Texas, in which Pembrook's total processing capacity will be raised from 250 million to 525 million standard cubic feet per day.
The new Pembrook train is part of Targa's rapidly developing buildout in the Permian Basin, where the company recently announced it is moving forward with acquiring long-lead items to accommodate future growth in its gathering and processing systems. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Plant and Project databases can learn more about Pembrook's developments from a detailed plant profile and project report.
Targa also says it is progressing faster than expected on several other projects in the Texas Permian, including:
Next year, Targa expects to begin operations on the $500 million Train 11 at its Cedar Bayou Fractionator in Mont Belvieu, Texas, which has been under construction since October and is designed to produce 150,000 barrels per day (BBL/d) of high-purity butane, propane and ethane. Later this year, Targa expects to begin construction on the $500 million Train 12 at the same facility, which will have a similar capacity and bring the entire complex's NGL-production capacity to 1.36 million BBL/d. Subscribers can learn more from a plant profile and detailed reports on Train 11 and Train 12.
Along with calls for more gas-processing capacity, Targa is facing rising demand for more transportation capacity out of the Permian. Its $850 million Apex Pipeline from Midland County to Jefferson County, Texas, which would carry up to 2 billion cubic feet per day about 562 miles to downstream facilities on the Texas Gulf Coast, is set to begin construction in the coming months. It will be supported by six compressor stations, each valued at $45 million and to be built along the same schedule.
Subscribers can learn more about the Apex Pipeline from a detailed project report and can click here for a list of detailed reports on the substations.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of detailed reports for active and proposed projects from Targa.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Click on the image at right for a graph detailing Targa's active and proposed projects, by project type.Despite lower commodity prices and higher operating expenses, Targa reported net income of $629.1 million for second-quarter 2025, compared with $298.5 million in the same period last year. Total revenues stood at $4.26 billion, a 19.6% increase.
For full-year 2025, Targa expects its capital spending from growth-oriented projects to total about $3 billion, while its capital spending from maintenance-related projects to total about $250 million. Among the projects Targa expects to complete in the coming months is a $150 million second train at its Pembrook Gas-Processing Plant in Midkiff, Texas, in which Pembrook's total processing capacity will be raised from 250 million to 525 million standard cubic feet per day.
The new Pembrook train is part of Targa's rapidly developing buildout in the Permian Basin, where the company recently announced it is moving forward with acquiring long-lead items to accommodate future growth in its gathering and processing systems. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Plant and Project databases can learn more about Pembrook's developments from a detailed plant profile and project report.
Targa also says it is progressing faster than expected on several other projects in the Texas Permian, including:
- a $220 million second train at its Bull Moose Gas-Processing Plant in Midkiff, which is expected to double processing capacity at the facility to 660 million standard cubic feet per day; see project report
- a $200 million second train at its Falcon Gas-Processing Plant near Orla, which is expected to increase capacity from 410 million to 685 million standard cubic feet per day; see project report
- the $220 million East Pembrook Gas-Processing Plant in Midkiff, which is expected to double capacity at the facility to 660 million standard cubic feet per day; see project report
Next year, Targa expects to begin operations on the $500 million Train 11 at its Cedar Bayou Fractionator in Mont Belvieu, Texas, which has been under construction since October and is designed to produce 150,000 barrels per day (BBL/d) of high-purity butane, propane and ethane. Later this year, Targa expects to begin construction on the $500 million Train 12 at the same facility, which will have a similar capacity and bring the entire complex's NGL-production capacity to 1.36 million BBL/d. Subscribers can learn more from a plant profile and detailed reports on Train 11 and Train 12.
Along with calls for more gas-processing capacity, Targa is facing rising demand for more transportation capacity out of the Permian. Its $850 million Apex Pipeline from Midland County to Jefferson County, Texas, which would carry up to 2 billion cubic feet per day about 562 miles to downstream facilities on the Texas Gulf Coast, is set to begin construction in the coming months. It will be supported by six compressor stations, each valued at $45 million and to be built along the same schedule.
Subscribers can learn more about the Apex Pipeline from a detailed project report and can click here for a list of detailed reports on the substations.
Subscribers to Industrial Info's GMI Project and Plant databases can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of detailed reports for active and proposed projects from Targa.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
