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Targa Resources Corp. Launches Non-Binding Open Season for Natural Gas Pipeline in the Delaware Basin

1. Targa launched an open season for its Forza Pipeline Project. 2. The project aims to transport 750 Dth/d of natural gas. 3. Completion is projected for mid-2028, pending interest and approvals. 4. The pipeline connects production surplus to market demands. 5. Targa remains a key player in midstream energy services.

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Why Bullish?

The Forza Project enhances TRGP's capacity, potentially increasing revenue streams similar to prior expansions that positively affected market perception and stock price.

How important is it?

The open season suggests growing demand for Targa's services, indicating future revenue growth and stability for TRGP.

Why Long Term?

As the project will be completed in mid-2028, TRGP's growth might not be immediately reflected in stock performance, akin to previous infrastructure projects that took time to generate returns.

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September 02, 2025 08:30 ET  | Source: Targa Resources Corp. HOUSTON, Sept. 02, 2025 (GLOBE NEWSWIRE) -- Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) announced today the launch of a non-binding open season for its proposed Forza Pipeline Project (“Forza Project”), a new interstate natural gas pipeline that will support increasing natural gas production in the Delaware Basin in Southeast New Mexico. The open season begins at 8:00 a.m. Central Standard Time September 2, 2025, and is scheduled to end at 5:00 p.m. Central Standard Time on October 2, 2025. The Forza Project consists of 36 miles of 36-inch diameter pipe, providing 750 dekatherms per day (“Dth/d”) of primary firm transportation service from receipt points in Lea County, New Mexico to multiple delivery points near the Waha Hub in Texas, and will connect new and existing gas processing facilities to in-basin demand and other demand markets. Pending shipper interest and necessary regulatory approvals, the project is scheduled for completion in mid-2028. Interested parties are invited to participate in the open season to secure firm transportation capacity on the Forza Project. More detailed information about the open season is available on the Natural Gas Pipelines page on Targa’s website, at https://www.targaresources.com/natural-gas-pipelines. Pro forma agreements will be made available to prospective shippers upon execution of a confidentiality agreement. Inquiries about the Open Season or this notice should be directed to:JB SmithVice President, Commercial Gas PipelinesTarga Resources Corp.john.smith@targaresources.com214-420-4936 About Targa Resources Corp. Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent infrastructure companies in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary domestic infrastructure assets and its operations are critical to the efficient, safe and reliable delivery of energy across the United States and increasingly to the world. The Company’s assets connect natural gas and NGLs to domestic and international markets with growing demand for cleaner fuels and feedstocks. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas; transporting, storing, fractionating, treating, and purchasing and selling NGLs and NGL products, including services to LPG exporters; and gathering, storing, terminaling, and purchasing and selling crude oil. Targa is a FORTUNE 500 company and is included in the S&P 500. For more information, please visit the Company’s website at www.targaresources.com. Targa Investor RelationsInvestorRelations@targaresources.com(713) 584-1133

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