Targa Resources Corp (NYSE:TRGP), one of top biotech stocks has completed the acquisition of Outrigger Southern Delaware Operating, LL, Outrigger Delaware Operating, LLC and Outrigger Midland Operating, LLC.
The acquisition comes days after the company announced completing the 2016 tax packages of Targa Resources Partners and Targa Resources Partners “Series A Preferred Units”. Additionally, the company announced monthly distribution on the “Series A Preferred Units” for February 2017. The board of directors declared an 18.75% distribution for every Series A Preferred Unit. This represents $2.25 on every unit on an annualized basis. The company says the distribution will be paid on March 15, 2017 to all holders of the Series A Preferred Units going by records as of end of February 28, 2017.
In other segments, the company announced the appointment of Robert Muraro as Executive Vice President – Commercial. Targa Resources Corp’s board of directors announced the appointment of Robert Muraro with effect from February 22, 2017. Mr. Muraro has a long history with Targa having joined the company as Director of Business Development in 2004. He has since been rising in ranks and responsibility. Before joining, Targa worked in the energy investment banking group at ABN Amro. Muraro is a graduate of Rice University with a Bachelor of Arts.
Targa Resources Corp is a worldwide leading supplier of midstream services. The company is one of North America’s largest independent energy firms. The company is one of several leading biotech stocks and multinational companies operating in North America mainly specializing in supplying energy and energy-related services. Targa acquires, owns, operates and develops a mixed portfolio of interrelated midstream energy properties. Targa Resources Corp mainly specializes in business of compressing, gathering, processing, treating and selling natural gas. The company is also engaged in fractionating, storing, transporting, treating and selling NGLs and NGL products. These also include services to exporters of LPG. Additionally, Targa is engaged in storing, gathering, and terminaling crude oil. This is in addition to selling refined petroleum and petroleum products.
Targa Resources Corp has its executive offices 1000 Louisiana, Suite 4300, Houston.