TARGA under investigation for methane leak in Texas


Nearly a month after Targa wrapped up a $1 billion acquisition of a share of the Grand Prix NGL pipeline in Oklahoma, the firm finds itself under investigation for failing to report a release of tons of natural gas as quired by state regulations in Texas.

The leak happened Jan. 20 near one of the firm’s compressor stations in Midland County, Texas and wasn’t reported to state regulators until Feb 3. Bloomberg inquired about the leak within hours of the leak after a satellite image appeared to show a significant cloud of methane near the station.

It was Jan. 1 of this year when Targa Resources Corp., headquartered in Houston, completed its previously announced acquisition of Blackstone Energy Partners’ 25% interest in the Grand Prix NGL Pipeline that runs out of Oklahoma.

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