Targa Resources expands Permian natural gas services with Stakeholder acquisition

Stakeholder Midstream provides natural gas gathering, treating, and processing services and crude gathering and storage services in the Permian basin.

Dec. 1, 2025

Targa Resources Corp., Houston, has agreed to a $1.25-billion cash acquisition of Stakeholder Midstream LLC to expand its footprint in the Permian basin.

A subsidiary of Targa is expected to acquire the San Antonio, Tex.-based Stakeholder in first-quarter 2026, subject to closing conditions and regulatory approvals, the company said in a release Dec. 1.

Stakeholder Midstream provides natural gas gathering, treating, and processing services and crude gathering and storage services in the Permian basin, including about 480 miles of natural gas pipelines, about 180 MMcfd of cryogenic natural gas processing and sour treating capacity, carbon capture (CCUS) activities, and a small crude oil gathering system.

Stakeholder’s assets are anchored by long-term, fee-based contracts across about 170,000 dedicated acres.