TRGP · 8-K · 20261105PR448401
Capital Expenditure Program
Targa Resources Corp. · 2026-11-05 · Importance 76 · Surprise 56 · In source text
Targa estimated 2026 net growth capital expenditures of approximately $5.0 billion and net maintenance capital expenditures of approximately $250 million. Nine-month 2026 growth capital expenditures, net, were $3.214 billion, compared with $2.333 billion in the prior-year period; maintenance capital expenditures, net, were $147.2 million. The company is ordering long-lead items for one additional Permian Midland processing plant and two additional Permian Delaware plants, which it expects will likely be needed in 2028 or early 2029. It also announced a 150 MBbl/d Train 14 NGL fractionator in Mont Belvieu, expected to begin operations in the first quarter of 2029.
Key facts
- Targa continued to estimate 2026 net growth capital expenditures of approximately $5.0 billion. source
- Targa estimated 2026 net maintenance capital expenditures of approximately $250 million, unchanged from its prior estimate. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | committed | -14.9% | Targa continued to estimate 2026 net growth capital expenditures of approximately $5.0 billion. |