TRGP · 8-K · 20260806PR336525

Supply Chain Constraints

Targa Resources Corp. · 2026-08-06 · Importance 40 · Surprise 42

Targa disclosed an extended period of negative Waha natural gas prices caused by significant egress constraints in the Permian Basin. Certain producer customers temporarily curtailed activity in response to the negative prices during the second quarter. Despite the constraint, Permian inlet volumes increased by more than 450 MMcf/d sequentially and total Permian volumes reached a record level.

Key facts

• Negative realized natural gas prices during Q2 2026 were a result of an extended period of negative Waha prices due to significant egress constraint in the Permian Basin. source
• Permian inlet volumes increased more than 450 MMcf/d despite temporary curtailments by certain producer customers in response to negative Waha natural gas prices in the second quarter. source