Targa Resources Partners to Acquire Refined Products and Crude Oil Storage and Terminaling Facility

Targa Resources Partners LP NGLS today announced that, through its wholly owned subsidiary, Coast Energy Group LLC, it has acquired a refined petroleum products and crude oil storage and terminaling facility in Channelview, TX.

Located on Carpenter's Bayou along the Houston Ship Channel, the Terminal can handle multiple grades of blend stocks, products and crude. The transaction was paid entirely with cash funded through borrowings under the Partnership's senior secured revolving credit facility.

Total value of the transaction is below the Hart-Scott-Rodino Act minimum.