Targa Resources Corp. (NYSE:TRGP) Q4 2017 Earnings Conference Call - Preliminary Transcript

Mar 03, 2018 • 11:00 am ET


Targa Resources Corp. (NYSE:TRGP) Q4 2017 Earnings Conference Call - Preliminary Transcript


Loading Event

Loading Transcript


Good morning, ladies and gentlemen and welcome to the Targa Resources Corp Fourth Quarter 2017 Earnings Conference Call.

At this time, all participants are in listen-only mode. Later we'll conduct a question-and-answer session and instructions will be given at that time. [Operator Instructions] As a reminder, today's conference call is being recorded.

I would now like to turn the conference over to Sanjay Lad, Director of Investor Relations. Please go ahead.

Sanjay Lad

Thank you, Candice. Good morning and welcome to the fourth quarter 2017 earnings call for Targa Resources Corp. The fourth quarter earnings release for Targa Resources Corp., Targa, TRC, or the company along with the fourth quarter earnings supplement presentation are available on the Investors section of our website at www.targaresources.com. In addition, an updated investor presentation has also been posted to our website.

Any statements made during this call that might include the company's expectations or predictions should be considered forward-looking statements and are covered by the Safe Harbor provision of the Securities Acts of 1933 and 1934. Please note that actual results could differ materially from those projected in any forward-looking statements. For a discussion of factors that could cause actual results to differ, please refer to our recent SEC filings, including the company's annual report on Form 10-K for the year ended December 31, 2016 and subsequently filed quarterly reports on Form 10-Q.

I will now turn the call over to Mr. Joe Bob Perkins, Targa's Chief Executive Officer.

Joe Bob Perkins

That Mr. Joe Bob Perkins was not in the script. Thanks, Sanjay. Good morning. Thank you to everyone for joining.

At the beginning of this month, you probably noticed that we announced some executive promotions, reflecting the significant leadership capabilities within the company and the increasing leadership roles that these individuals have continued to take on at Targa. Although their official new title date is March 1, they're really acting in those roles today and on this call.

Today I'm going to begin the call with a strategic update. I'll then turn it over to Matt Meloy, our new President. He will give an update on commercial developments and business fundamentals and then Jen Kneale, our new CFO will discuss fourth quarter 2017 results and present our financial and operational expectations for 2018.

Were also joined in the room by Pat McDonie, newly promoted President of our Gathering and Processing Segment, Scott Pryor, promoted to President of our Logistics and Marketing Segment and Robert Muraro, our new Chief Commercial Officer and Robert wants you to call him Bobby.

We will collectively handle Q&A. The investor and industry feedback since the announcement of the promotions has been very positive. We have a very talented team, these individuals and their teams working very well together.

2017 was one of our busiest years at Targa in what will potentially be viewed as another transformational year for the company. Over the course of 2017, we added approximately 325 million cubic feet per day of incremental natural gas processing capacity. Approved and began