Targa Building Permian Position With Acquisition of Atlas Assets

摘要

The Targa Resources group is acquiring two units of Atlas Resources that will make the Targa organization the largest natural gas gathering and processing player in the Permian Basin. The combined companies will have about 1.5 billion cubic feet of gas processing capacity and more than 10,000 miles of gas gathering lines, with much of the infrastructure in the prolific Midland Basin. Each company already has extensive expansion plans in the play that will make the consolidated organization even larger. The transactions, collectively worth $7.7 billion, include a combination of new units, stock purchases, debt acquisition and cash, the companies said last week.