Investor Presentaiton
Permian Basin Fundamentals
Permian Basin is poised for continued
robust growth, driving increasing demand for
Targa's midstream services
Strength and resiliency of Targa's Permian Basin
position
> Supported by large-cap, diverse producer
customers
> Targa team remains focused in providing best-in-
class customer service
Growth Indexed
220
200
180
160
140
120
100
80
60
>50%
of Lower 48 US shale
rigs are in the
Permian Basin (1)
TR TARGA INVESTOR PRESENTATION
Source: Baker Hughes, as of July 21, 2023.
(1)
(2)
As of Q2 2023.
(3)
(4)
Reflects organic volume growth only; excludes volumes associated with Delaware Basin acquisition for comparison purposes.
Source: EIA Drilling Productivity Report - July 2023 (rolling average LTM basis).
-80%
of Targa's natural gas inlet
volumes sourced from the
Permian(2)
3.8
3.6
4Q18
1Q19
2Q19
3Q19
4.2
4Q19
1Q20
4.0
2Q20
3Q20
(3)
3.4
3.2
2018
2019
2020
2021
2022
2023
Targa Permian Inlet Volume
Permian Associated Gas Production
Higher GORS Benefit Targa's Capture of Permian NGL Supply(4)
Permian Basin GORS have
increased >20% since 2018
Targa Outperforming Permian Basin Production Curve
+100%
4Q20
+68%
1Q21
2Q21
3Q21
4Q21
1Q22
2Q22
3Q22
4Q22
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