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News Breaks
June 20, 2014
12:00 EDTNGLSTarga Resources Partners falls 11.2%
Targa Resources Partners is down 11.2%, or $9.14, to $72.41
News For NGLS From The Last 14 Days
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October 8, 2015
10:00 EDTNGLSOn The Fly: Analyst Downgrade Summary
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05:51 EDTNGLSTarga Resources Partners downgraded to Hold from Buy at Jefferies
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October 6, 2015
07:15 EDTNGLSTarga Resources, Targa Resources Partners price targets lowered at UBS
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October 5, 2015
07:30 EDTNGLSTarga Resource Partners sees over 5M barrels per month of LPG export in FY16
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07:06 EDTNGLSSanchez Energy enters into midstream JV with Targa Resources Partners
Sanchez Energy (SN) announced that it has entered into joint venture agreements with Targa Resources Partners LP (NGLS) to construct a new cryogenic natural gas processing plant and associated high pressure gathering pipelines near Sanchez Energy's Catarina asset in the Eagle Ford Shale. The processing plant, which will be located in La Salle County, Texas, is expected to have initial capacity of 200M cubic feet per day, or MMcf/d, with the ability to increase to 260 MMcf/d. In connection with the joint venture agreements, Sanchez Energy intends to invest approximately $115M and receive a 50% ownership interest in the plant and the approximately 45 miles of high pressure gathering pipelines that will connect SN's existing Catarina gathering system to the plant. Targa will hold all of the transportation capacity on the pipeline, and the gathering joint venture will receive fees for transportation. The new midstream joint ventures are expected to provide significant operational and commercial benefits and improve yields, increase net-back prices, and lower the gathering and transportation fees SN currently pays for its Catarina production. Sanchez Energy has firm capacity for 125,000 Mcf/d of plant processing and associated pipeline capacity for the first five years and has dedicated the Catarina acreage and all production developed during the 15 year term. The company has the option to deliver additional volumes and commit additional acreage to the new plant as production increases. The natural gas processing plant and gathering pipelines will be designed, built and operated by Targa. The plant is expected to be operational by early 2017.

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