Stratrix
On the Record · Targa Resources

Targa Resources acquisitions, on the record

The businesses Targa Resources bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.

Deals its annual reports describe

BusinessDealWhenValue
Blackstone Energy Partners' 25% interest in the entity that owns the Permian to Mont Belvieu segment of Grand Prix
Word for word“In January 2023, we completed the acquisition of Blackstone Energy Partners’ 25% interest in the entity that owns the Permian to Mont Belvieu segment of Grand Prix (the “Grand Prix Transaction”) for approximately $1.05 billion in cash and a final closing adjustment of $41.9 million.” 10-K for 2023
acquisitionIn January 2023approximately $1.05 billion in cash and a final closing adjustment of $41.9 million
remaining 50% membership interest in Carnero
Word for word“In December 2023, we completed the acquisition of the remaining 50% membership interest in Carnero from our joint venture partner for cash consideration of $27.0 million.” 10-K for 2023
acquisitionIn December 2023$27.0 million
Cedar Bayou Fractionators, L.P. (remaining 12% membership interest)
Word for word“On December 16, 2024, we completed the acquisition of the remaining 12% membership interest in Cedar Bayou Fractionators, L.P. (“CBF”) from our joint venture partner for cash consideration of $111.6 million (the “CBF Acquisition”).” 10-K for 2024
acquisitionDecember 16, 2024$111.6 million
Grand Prix Pipeline LLC (Blackstone Energy Partners' 25% interest)
Word for word“In January 2023, we announced and closed on the acquisition of Blackstone Energy Partners’ 25% interest in Grand Prix Pipeline LLC (the “Grand Prix Transaction”).” 10-K for 2024
acquisitionJanuary 2023—
Lucid Energy Delaware, LLC (Delaware Basin Acquisition)
Word for word“In July 2022, we completed the acquisition of all of the interests in Lucid Energy Delaware, LLC (“Lucid”) from Riverstone Holdings LLC and Goldman Sachs Asset Management for approximately $ 3.5 billion in cash (the “Delaware Basin Acquisition”), subject to customary closing adjustments.” 10-K for 2024
acquisitionIn July 2022approximately $ 3.5 billion in cash
Blackstone’s 45% interest in Targa Badlands LLC
Word for word“In March 2025, we completed the acquisition of Blackstone’s 45% interest in Targa Badlands LLC (“Targa Badlands”) for aggregate consideration of $1.8 billion in cash (the “Badlands Transaction”).” 10-K for 2025
acquisitionMarch 2025$1.8 billion in cash
Stakeholder Midstream, LLC
Word for word“On January 6, 2026, we completed the acquisition of Stakeholder Midstream, LLC for $1.25 billion in cash (the “Stakeholder Acquisition”).” 10-K for 2025
acquisitionOn January 6, 2026$1.25 billion in cash
remaining 12% membership interest in Cedar Bayou Fractionators, L.P.
Word for word“In December 2024, we completed the acquisition of the remaining 12 % membership interest in Cedar Bayou Fractionators, L.P. (“CBF”) from our joint venture partner for cash consideration of $ 111.6 million (the “CBF Acquisition”).” 10-K for 2025
acquisitionIn December 2024—
remaining 50% membership interest in Carnero G&P LLC
Word for word“In December 2023, we completed the acquisition of the remaining 50 % membership interest in Carnero G&P LLC (“Carnero”) from our joint venture partner for cash consideration of $ 27.0 million (the “Carnero Acquisition”).” 10-K for 2025
acquisitionIn December 2023$ 27.0 million
Blackstone Energy Partners’ 25% interest in the Grand Prix Pipeline LLC
Word for word“In January 2023, we completed the acquisition of Blackstone Energy Partners’ 25 % interest in the Grand Prix Pipeline LLC (the “Grand Prix Transaction”) for aggregate consideration of $ 1.05 billion in cash and a final closing adjustment of $ 41.9 million.” 10-K for 2025
acquisitionIn January 2023$ 1.05 billion in cash
As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year endedCash paid for acquisitions (net of cash acquired)Goodwill from acquisitions
2017-12-31$570.8 million$46.6 million
2022-12-31$3.5 billion—
2025-12-31$122.8 million—

Deal filings since 2016

Read from Targa Resources’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-19. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.