This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Targa Resources' President Participates In Panel Discussion At RBC Capital Markets MLP Conference - Conference Call Transcript

Targa Resources Partners LP (NGLS)

Company Conference Call

November 17, 2011 12:15 pm ET

Executives

Joe Bob Perkins – President, Targa Resources Partners

Randall Fowler – Executive Vice President, Chief Financial Officer, Enterprise Products

Frank Semple – Chairman, President, Chief Executive Officer, MarkWest Energy Partners

Analysts

Presentation

Moderator

Thank you. The next panel topic is Infrastructure Solutions to Meet Strong Ethane Demand. On this panel, we’ve got Enterprise Products’ Randy Fowler, Executive Vice President and Chief Financial Officer; Frank Semple, Chairman, President and CEO of MarkWest Energy Partners, and Joe Bob Perkins, President of Targa Resources Partners. We’ll start with Randy.

Randall Fowler

They told us we have about four or five minutes to go through a company overview, and his message was, talk fast. Being reared in Texas and Louisiana, that’s not a talent I’ve acquired.

Just to give you a quick update, with Enterprise I think what we look at one of our strengths being is connectivity to the supply basins, whether it be the traditional supply basins or the developing shale plays and the non-conventional plays. We feel like we’ve got good connectivity there but we spend just as much time focusing on the consumers of this energy, the consumers of the NGLs, the U.S. petrochemical industry and the refining industry, so we feel like for a midstream company we’ve got good connections both to the upstream side and the downstream side.

As far as visibility to growth, I think probably some of the more noteworthy things – in the last two years, 2010 and thus far in 2011, we’ve completed about $2.9 billion worth of growth capital projects and we’ve been executing. We’ve been able to come in and largely bring those projects in on time and about 10% under budget. So we’re not seeing the cost pressures that I think we saw as a midstream industry back in that 2007 – 2008 time frame, so we’ve been able to come in and execute on these projects.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,001.22 -38.27 -0.22%
S&P 500 1,988.40 -3.97 -0.20%
NASDAQ 4,538.5510 +6.4470 0.14%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs