Targa Resources Boosts Sales, More SPR Loans: Your Daily Energy News

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News highlights compiled by Industrial Info Resources (Sugar Land, Texas) dealing with the energy markets.

Production

Targa Resources Boosts NatGas, NGL Sales in Quarter
Targa Resources reported its natural gas sales in first-quarter 2026 were 3.04 billion British thermal units (Btus), up more than 17% from the corresponding period of 2026. The company's natural gas liquids (NGLs) sales were 1.3 billion barrels per day (bpd) versus 1.19 bpd in 1Q25. Targa forecasts 2026 core earnings of between $5.7 billion and $5.9 billion. Industrial Info Resources data show $1.37 worth of capital Targa projects under construction, including fractionation trains and processing plants in Texas.

Australia's Woodside Energy Boosts Cost of Delayed Browse LNG Project
Woodside Energy said its delayed Browse LNG project in the Browse Basin offshore Western Australia is now expected to cost A$48.7 billion (US$35.3 billion).

Terminals

U.S. to Loan 53.3 Million Barrels of Oil from SPR
On Monday, White House officials confirmed the U.S. would loan energy companies 53.3 million of crude oil from the U.S. Strategic Petroleum Reserve (SPR).

Key Takeaways

• Higher sales prompted Targa Resources executives to forecast up to $5.9 billion in 2026 earnings for the midstream company.
• Woodside Energy has raised the cost estimate of its long-delayed Browse LNG project off Western Australia.
• The U.S. Department of Energy said it would release another 53.3 million barrels of crude oil from the Strategic Petroleum Reserve.

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About Industrial Info Resources
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) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).