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Targa Signs 20-Year Permian Midstream Deal With ExxonMobil, Lifts 2026 Capex to $5B

Targa Resources logoTarga Resources
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Exxon Mobil logoExxon Mobil
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Targa Resources announced 20-year, fee-based midstream agreements with ExxonMobil subsidiaries covering natural gas gathering, processing, treating, NGL transportation and fractionation in the Delaware and Midland sub-basins through 2046. The deals add acreage dedications and extend the partnership, prompting three new Permian Delaware gas-processing plants and evaluation of up to five more to handle volume growth.

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