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Targa Resources10-K: Joint venture

Targa partners with WhiteWater, MPLX, and Enbridge on two major Texas pipeline projects

What happened

Targa is part of a joint venture to build the Blackcomb and Traverse pipelines, indicating a strategy of capital collaboration to expand infrastructure. These large, multi-party projects require sophisticated project management, financial controls, and regulatory compliance solutions.

Source

SEC EDGARFeb 19, 2026

Annual report (Form 10-K)

Targa Resources 10-K for FY2025

Filing excerpt

In July 2024, we entered into a joint venture (“Blackcomb Joint Venture”) which will construct the Blackcomb pipeline. The Blackcomb Joint Venture is owned 70.0% by WPC, 17.5% by Targa, and 12.5% by MPLX LP. WPC is a joint venture owned 50.6% by WhiteWater Midstream LLC (“WhiteWater”), 30.4% by MPLX LP, and 19.0% by Enbridge Inc.

sec.gov/Archives/edgar/data/1389170/000119312526059296/trgp-20251231.htmRead the full source

Other signals in this filing (11)

Extracted by Autobound

From the Signal API record
Signal
10-K: Joint venture

What this signalsFilings often name leadership changes, deals and spending plans.

Period
FY2025
Fiscal year end
12/31
Filed
Feb 19, 2026

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The full record

From the Signal API record

Numbers

Percent
17.5% (Targa's ownership stake in the Blackcomb Joint Venture)

Details

CIK
1389170
Accession number
0001193125-26-059296
Timeframe
Multi year
Filing year
2026
Why it matters
New entity needs
Signal category
Strategic

Topics and mentions

Vendors

  • WhiteWater Midstream LLC

Competitors

  • MPLX LP
  • Enbridge Inc.

Regions named

  • Permian Basin
  • South Texas

Extraction

Confidence
High
Relevance
80%
Sentiment
Positive
Detected
Feb 24, 2026
signal_type
sec-10k
signal_subtype
jointVenture

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This page shows a preview. The full sec-10k record in the Signal API and MCP can also have these 8 fields. Some fields are empty for some signals.

Company

  • linkedin_urlValue in the API
  • industriesValue in the API
  • employee_count_lowValue in the API
  • employee_count_highValue in the API
  • revenueValue in the API
  • descriptionValue in the API

Signal

  • signal_nameValue in the API
  • associationValue in the API
Show the full JSONThe record on this page and the API request

GET /v1/signals/b2ac9a90-d416-499f-b290-64b9e8a70b21 returns this record as JSON. POST /v1/companies/enrich returns every signal for targaresources.com.

{
  "signal_id": "b2ac9a90-d416-499f-b290-64b9e8a70b21",
  "signal_type": "sec-10k",
  "signal_subtype": "jointVenture",
  "detected_at": "2026-02-24T09:23:47.277+00:00",
  "company": {
    "name": "Targa Resources",
    "domain": "targaresources.com"
  },
  "data": {
    "detail": "Targa is part of a joint venture to build the Blackcomb and Traverse pipelines, indicating a strategy of capital collaboration to expand infrastructure. These large, multi-party projects require sophisticated project management, financial controls, and regulatory compliance solutions.",
    "metrics": {
      "pct": 0.175,
      "timeframe": "multi_year",
      "pct_context": "Targa's ownership stake in the Blackcomb Joint Venture"
    },
    "summary": "Targa partners with WhiteWater, MPLX, and Enbridge on two major Texas pipeline projects",
    "excerpts": "In July 2024, we entered into a joint venture (“Blackcomb Joint Venture”) which will construct the Blackcomb pipeline. The Blackcomb Joint Venture is owned 70.0% by WPC, 17.5% by Targa, and 12.5% by MPLX LP. WPC is a joint venture owned 50.6% by WhiteWater Midstream LLC (“WhiteWater”), 30.4% by MPLX LP, and 19.0% by Enbridge Inc.",
    "relevance": 0.8,
    "sentiment": "positive",
    "confidence": "high",
    "source_url": "https://www.sec.gov/Archives/edgar/data/1389170/000119312526059296/trgp-20251231.htm",
    "filing_date": "2026-02-19",
    "filing_year": 2026,
    "fiscal_year_end": "12/31",
    "sales_relevance": "New entity needs",
    "signal_category": "strategic",
    "regions_mentioned": [
      "Permian Basin",
      "South Texas"
    ],
    "vendors_mentioned": [
      "WhiteWater Midstream LLC"
    ],
    "competitors_mentioned": [
      "MPLX LP",
      "Enbridge Inc."
    ]
  }
}

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