TRGP · 10-Q · 2026Q3 · Full report
Midstream Contract Backlog
Targa Resources Corp. · 2026-11-05 · Importance 56 · Surprise 24 · In source text
At September 30, 2026, Targa disclosed $2,527.5 million of estimated minimum revenue from unsatisfied performance obligations, consisting primarily of fixed consideration under contracts with minimum-volume commitments. The contracts primarily cover gathering and processing, fractionation, transportation, export, terminaling and storage. Remaining contract terms range from [term not provided in the filing excerpt]. The disclosed amount excludes certain variable consideration and contracts with an original expected duration of one year or less.
Key facts
- At September 30, 2026, fixed consideration to be recognized from remaining performance obligations was reported as $94.0 million, $434.8 million, and $1,998.7 million in the table’s successive periods. source
- Targa’s deferred revenue was $140.1 million at September 30, 2026, compared with $135.7 million at December 31, 2025; $24.3 million was in accrued liabilities and $115.8 million in other long-term liabilities at September 30, 2026. source
- Targa recognizes deferred revenue related to 2015 and 2017 amendments to a gas gathering and processing agreement through the agreement’s term in 2035. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | committed | +30.4% | At September 30, 2026, fixed consideration to be recognized from remaining performance obligations was reported as $94.0 million, $434.8… |
| revenue | positive | committed | +6.6% | At September 30, 2026, fixed consideration to be recognized from remaining performance obligations was reported as $94.0 million, $434.8… |
| revenue | positive | committed | +1.4% | At September 30, 2026, fixed consideration to be recognized from remaining performance obligations was reported as $94.0 million, $434.8… |