TARGA RESOURCES PARTNERS LP DECLARES QUARTERLY DISTRIBUTION; INVITES INVESTORS TO SECOND QUARTER 2007 EARNINGS CALL
HOUSTON, July 24, 2007 Targa Resources Partners LP (NASDAQ: NGLS) ("Targa Resources Partners" or the "Partnership") announced today that the board of directors of its general partner has declared a quarterly cash distribution of 33.75¢ per unit, or $1.35 per unit on an annualized basis, for the second quarter of 2007. This cash distribution will be paid August 14 on all outstanding common and subordinated units to holders of record as of the close of business on August 2, 2007.
Targa Resources Partners will announce its earnings for the second quarter of 2007 before the NASDAQ Stock Market opens for trading on Tuesday, August 14, 2007. Following the announcement, the Partnership will host a conference call for investors and analysts at 10 a.m. ET (9 a.m. CT) to discuss second quarter earnings. The conference call can be accessed via Webcast through the Investors section of the Partnership's web site at http://www.targaresources.com or by dialing 800-257-7063. The pass code is 11094287#. Please dial in 5 to 10 minutes prior to the scheduled start time. A replay will be available approximately 2 hours following completion of the Webcast through the Investors section of the Partnership's web site and will remain available until August 28.
About Targa Resources Partners
Targa Resources Partners was formed in February 2007 by Targa Resources, Inc. ("Targa") to engage in the business of gathering, compressing, treating, processing and selling natural gas and fractionating and selling natural gas liquids and natural gas liquids products. The Partnership operates in the Fort Worth Basin in north Texas. A subsidiary of Targa is the general partner of the Partnership. Targa Resources Partners owns approximately 3,950 miles of integrated gathering pipelines, two natural gas processing plants and a fractionator.
Targa Resources Partners' principal executive offices are located at 1000 Louisiana, Suite 4300, Houston, Texas 77002 and its telephone number is 713-584-1000.