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Targa Resources Partners' Management Present At The Deutsche Bank 19th Annual Leveraged Finance Conference (Transcript)

Let's talk about how these industry dynamics that I have mentioned on the E&P relate to Targa’s platform of businesses. The gathering and processing business as seen, as I mentioned substantial increases in producer activity. Start in the middle there, North Texas. That’s in the Barnett shale, a traditional gas play. We are on the North side near the rich or oilier part, as we call it and we are seeing very high levels of activity that are increasing volumes on our system and starting to use up excess capacity in our processing plant. Moving over to SAOU and the Permian business in the Permian basin, we are seeing the Wolfberry and some of these other plays also producing significant quantities of rich natural gas into our system. The arrows here sort of mean all roads, if you're an NGL barrel, all roads lead to Belvieu. Belvieu is the hub for natural gas liquid and the raw mix, there’s mixed stream of NGL that comes out of gas processing operations, comes by pipeline to Mont Belvieu complex and ultimately provides the feedstock to the petrochem complex, which is also responding to this increase in NGL supply.

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