TRGP · 8-K · 20260806PR336525
Market Demand Trends
Targa Resources Corp. · 2026-08-06 · Importance 35 · Surprise 48 · In source text
Targa reported record second-quarter 2026 Permian inlet volumes, with total Permian natural gas inlet increasing 14% year over year to 7,187.3 MMcf/d. Permian Delaware volumes grew 20% to 3,793.8 MMcf/d, while total NGL production increased 15% to 1,180.8 MBbl/d. Crude oil gathered rose 23% to 143.8 MBbl/d, and continued strong producer activity supported higher fee-based margins despite temporary curtailments by certain customers.
Key facts
- Commodity sales were relatively flat in Q2 due to lower natural gas prices ($784.8 million) and unfavorable hedges ($291.6 million), partially offset by higher NGL and condensate prices ($597.8 million) and higher volumes ($435.2 million). source
- LPG export margin increased due to higher volumes and fees in the L&T segment during Q2 2026. source
- Marketing margin increased due to greater optimization opportunities in the L&T segment during Q2 2026. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | negative | realized | -17.7% | Commodity sales were relatively flat in Q2 due to lower natural gas prices ($784.8 million) and unfavorable hedges ($291.6 million),… |
| revenue | positive | realized | +13.5% | Commodity sales were relatively flat in Q2 due to lower natural gas prices ($784.8 million) and unfavorable hedges ($291.6 million),… |
| revenue | positive | realized | +9.8% | Commodity sales were relatively flat in Q2 due to lower natural gas prices ($784.8 million) and unfavorable hedges ($291.6 million),… |
| revenue | negative | realized | -6.6% | Commodity sales were relatively flat in Q2 due to lower natural gas prices ($784.8 million) and unfavorable hedges ($291.6 million),… |