Investor Presentaiton
Targa's Industry Leading Permian G&P System
Permian Basin footprint underpinned by
millions of dedicated acres and decades of
core drilling inventory
Targa's Permian natural gas inlet volumes have
historically grown faster than overall Permian
Basin crude oil production, driven by:
> Premier producer customers
> Producers with top-tier acreage positions
> Robust gas-to-oil ratios (GORs)
> Exceptional plant run-times
MMBbl/d
8.0
7.0
6.0
5.0
4.0
3.0
Permian Natural Gas Inlet Volume Growth
Targa expects continued significant growth in Permian volumes going forward
2.0
> Flow assurance for producers (built-in reliability
and redundancy)
1.0
8.0
7.0
6.0
5.0
4.0
3.0
2.0
10
1.0
0.0
0.0
2018
2019
2020
2021
2022
2023E
2024E
2025E
2026E
Targa Permian Inlet Volumes
(1)
(2)
Permian Crude Oil Production
Bcf/d
(1)
(2)
2023E Targa Permian based on projected inlet volumes outlook. 2024E+ Targa Permian inlet volumes based on the historical growth relationship (2019-2021) between Targa Permian inlet volumes and Permian crude oil production (excluding growth relationship in 2020 given data.
outlier for flat Permian crude oil production).
Source: Historical data per EIA. 2023E+ forecast represents average estimates from BTU Analytics, Jefferies, JP Morgan, Mizuho, Pickering Energy Partners, Scotiabank, Tudor Pickering Holt, Wells Fargo, and Wood Mackenzie.
TR TARGA INVESTOR PRESENTATION
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