Skip to content

Targa Resources Corp. Completes Sale of Equity Interest in Gulf Coast Express Pipeline

Targa Resources Corp. Completes Sale of Equity Interest in Gulf Coast Express Pipeline Background Image

Vinson & Elkins advised Targa Resources Corp., a leading provider of midstream services and one of the largest independent midstream infrastructure companies in North America, in the sale of Targa’s wholly-owned subsidiary that holds a 25% equity interest in the Gulf Coast Express Pipeline (“GCX”) to ArcLight Capital Partners, LLC and affiliates (collectively, “ArcLight”) for $857 million. Targa and ArcLight agreed to terms on February 3, 2022 and, following a call right period in favor of the other members of GCX, the sale was completed on May 16, 2022.

V&E represented Targa in its initial investment into GCX, and the related financing. V&E then represented Targa in buying back its development interests and ultimately in the sale of GCX.

The V&E corporate team was led by partners Christopher Collins and Benji Barron, with assistance from associates Jordan Fossee, Zac Horne and Patrick Reintjes. Also advising were senior associate Caitlin Snelson; partners Jim Meyer and Ryan Carney, senior associate Brian Russell and associate Keleigh Carver; partner Darren Tucker and senior associate Evan Miller; partner David D’Alessandro; and counsel Larry Pechacek.

About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 11 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting or connect with us on LinkedIn.

For more information, please speak with our media contacts.