Targa Resources Corp. acquired Stakeholder Midstream, LLC for $1.25 billion, a transaction completed in January 2026, structured as All-cash purchase of all membership interests.
Stakeholder Midstream, LLC operates in Gathering and Processing. Targa acquired a portfolio of complementary Permian Basin midstream infrastructure assets, including approximately 480 miles of natural gas pipelines, approximately 180 MMcf/d of cryogenic natural gas processing and sour treating capacity, carbon capture activities generating 45Q tax credits, and a small crude oil gathering system. Funded with $650.0 million from the Commercial Paper Program and $600.0 million from the Securitization Facility.
Expands Targa's integrated Permian Basin gathering and processing footprint and adds cryogenic processing plus carbon capture capacity.
On January 6, 2026, we completed the acquisition of Stakeholder Midstream, LLC for a purchase price of $1.25 billion (the 'Stakeholder Acquisition'), subject to customary closing adjustments.Targa Resources Corp., Form 10-K for fiscal year 2025, Note 4 Acquisitions and Joint Ventures
Advisory firms were not disclosed for this transaction.