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Mergers And Acquisitions: Learn Three Smart Ways To Profit From Mergers

Mon, 03 Aug 2009 17:31:25 GMT

As confidence in the economy improves, mergers and acquisitions are increasing across sectors providing retail investors unique profit opportunities.[More...]

Targa Q4 Income Slightly Up

Wed, 25 Feb 2009 12:36:04 GMT

Texas-based midstream natural gas company Targa Resources Partners has reported fourth quarter 2008 net income of $23.7 million, or $0.48 per diluted limited partner unit as compared to net income of $22.7 million, or $0.42 per diluted limited partner unit for the fourth quarter of 2007.[More...]

Flint Hills Job Fair

Thu, 15 Jan 2009 14:47:00 GMT

Jan. 15--It looked like a miniature oil show, complete with goodies for participants and booths with banners featuring company names.
But the 150 representatives from more than 60 companies at the Polydome at Flint Hills Resources Odessa Plant weren't there to sell their products.
They were looking to find workers at the plant, which is scheduled to shut down by May.

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Targa Resources Partners LP to Present At the NAPTP 2009 MLP Investor Conference

Wed, 09 Sep 2009 23:46:00 GMT

The presentation will begin at 9:00 a.m. Eastern Time on Wednesday, September 16th and is expected to last approximately 25 minutes including a question and answer session.
A replay of the presentation will be available on the website shortly after the presentation is concluded and remain available for 30 days.
About Targa Resources Partners

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Targa Resources Partners LP Announces Pricing of Common Units

Fri, 07 Aug 2009 13:13:00 GMT

Targa Resources Partners LP announced today that it has priced an underwritten public offering of 6,000,000 common units representing limited partner interests at $15.70 per common unit. The offering is expected to close on or about August 12, 2009. The Partnership has also granted the underwriters a 30-day option to purchase up to 900,000 additional common units.[More...]

Targa Resources Partners LP Announces Public Offering of Common Units

Thu, 06 Aug 2009 20:24:00 GMT

Targa Resources Partners LP announced today the commencement of an underwritten public offering of 6,000,000 common units representing limited partner interests. The Partnership has also granted the underwriters a 30-day option to purchase up to 900,000 additional common units. The Partnership intends to use the net proceeds from the offering for general partnership purposes, which may include reducing borrowings under its senior secured credit facility and redeeming or repurchasing some of its outstanding notes.[More...]

Targa Resources Partners LP Reports Second Quarter 2009 Financial Results

Thu, 06 Aug 2009 10:49:00 GMT

HOUSTON, Aug. 6, 2009 (GLOBE NEWSWIRE) -- Targa Resources Partners LP ("Targa Resources Partners" or the "Partnership") (Nasdaq:NGLS) today reported second quarter 2009 net income of $6.6 million (which includes an $11.2 million non-cash hedge loss) or $0.10 per diluted limited partner unit as compared to second quarter 2008 net income of $28.2 million or $0.54 per diluted limited partner unit.
The Partnership reported earnings before interest, income taxes, depreciation and amortization and non-cash income or loss related to derivative instruments ("Adjusted EBITDA") of $46.9 million for the second quarter of 2009 compared to Adjusted EBITDA of $55.4 million for the second quarter of 2008.
Distributable cash flow for the second quarter of 2009 was $35.6 million which corresponds to distribution coverage of approximately 1.35 times for the 47.2 million total units outstanding on June 30, 2009 (see the section of this release entitled "Non-GAAP Financial Measures" for a discussion of Adjusted EBITDA, operating margin and distributable cash flow, and reconciliations of such measures to the comparable GAAP measures).

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Targa Resources, Inc. Reports Second Quarter 2009 Financial Results

Thu, 06 Aug 2009 10:49:00 GMT

HOUSTON, Aug. 6, 2009 (GLOBE NEWSWIRE) -- Targa Resources, Inc. ("Targa" or the "Company") today reported second quarter 2009 net income attributable to Targa of $13.5 million (which includes a $12.3 million non-cash hedge loss) compared to net income attributable to Targa of $46.2 million for the second quarter of 2008.
Targa reported earnings before interest, income taxes, depreciation and amortization and non-cash income or loss related to derivative instruments ("Adjusted EBITDA") of $95.9 million for the second quarter of 2009 as compared to $137.6 million for the second quarter of 2008.
Please see the section of this release entitled "Non-GAAP Financial Measures" for a discussion of Adjusted EBITDA and operating margin and reconciliations of such measures to the comparable GAAP measures.

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Targa Resources Partners LP Agrees to Acquire Downstream Business From Targa Resources, Inc. and Announces Conference Call for Investors and Analysts

Tue, 28 Jul 2009 11:55:00 GMT

Targa Resources Partners LP announced today that it has agreed to acquire Targa Resources, Inc.'s natural gas liquids business for $530 million. The Downstream Business includes the Logistics Assets, NGL Distribution and Marketing and Wholesale Marketing segments as reported by Targa. As part of the transaction, Targa will provide distribution support to the Partnership beginning with the fourth quarter of 2009 and continuing through the fourth quarter of 2011. As described further below, Targa will provide support for quarterly distribution coverage of 1.0x, up to a maximum of $8 million of support in any quarter.[More...]

Targa Resources Partners LP Announces Second Quarter 2009 Distribution and Timing of Second Quarter 2009 Earnings Release and Conference Call

Mon, 20 Jul 2009 21:55:00 GMT

Targa Resources Partners LP announced today that the board of directors of its general partner has declared a quarterly cash distribution of 51.75c per common unit, or $2.07 per common unit on an annualized basis, for the second quarter of 2009. This cash distribution will be paid August 14, 2009 on all outstanding common units to holders of record as of the close of business on August 5, 2009.[More...]

Targa Resources Partners LP Prices $250 Million of Senior Notes

Tue, 30 Jun 2009 22:21:00 GMT

Targa Resources Partners LP and its subsidiary Targa Resources Partners Finance Corporation announced today the pricing of $250 million of senior unsecured notes. The 11.25 percent notes mature July 2017 and were priced at 94.973 percent of the principal amount to yield 12.25 percent.[More...]

Targa Resources Partners LP Announces $250 Million Offering of Senior Notes

Mon, 29 Jun 2009 11:49:00 GMT

Targa Resources Partners LP and its subsidiary Targa Resources Partners Finance Corporation announced today that, subject to market conditions, they intend to sell in an offering in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended , to persons outside of the United States pursuant to Regulation S under the Securities Act, and to accredited investors in Canada pursuant to applicable private placement exemptions, $250 million in aggregate principal amount of senior unsecured notes due 2017. The Partnership intends to use the net proceeds from the offering to reduce borrowings under its senior secured credit facility and for general partnership purposes, including working capital and acquisitions.[More...]

Targa Resources Partners LP Posts Updated Investor Presentation to Web and Confirms End to Subordination Period

Tue, 02 Jun 2009 11:57:00 GMT

Targa Resources Partners LP announced today that they have posted an updated investor presentation to the Investors section of their website. Investors can download the presentation at http://ir.targaresources.com/events.cfm under 'Events & Presentations.'[More...]