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Targa Resources Executes Agreements to Sell Assets in its Petroleum Logistics Business

Vinson & Elkins advised Targa Resources Corp. in connection with agreements to sell its refined products and crude oil storage and terminaling facilities in Tacoma, WA and Baltimore, MD to an affiliate of ArcLight Capital Partners, LLC for approximately $160 million.

Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream energy companies in North America.

The V&E corporate team was led by senior associate Matt Falcone with assistance from partner Chris Collins and associates Brittany Smith and Greg Henson. Also advising were partner Stephen Jacobson and associate Kristy Fields; partner Jim Meyer and associate Brian Russell; and counsel Larry Pechacek and associate Jennifer Cornejo.

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