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  6. Targa Resources Invests In Bridgeline

Investment Summary

Targa Resources Invests In Bridgeline

On December 16, 2004, Targa Resources invested in energy services and equipment company Bridgeline from Texaco

Investment Highlights
  • This is Targa Resources’ 2nd transaction in the Energy Services and Equipment sector.
  • This is Targa Resources’ 2nd transaction in the United States.
  • This is Targa Resources’ 1st transaction in Louisiana.
Investment Fate
  • Bridgeline was divested to a consortium of strategic buyers in 2005.

Investment Summary
Date 2004-12-16
Target Bridgeline
Sector Energy Services and Equipment
Investor(s) Targa Resources
Sellers(s) Texaco
Deal Type Stake Purchase

Target

Bridgeline

New Orleans, Louisiana, United States
Bridgeline LLC is an owns and operator of over 1,000 miles of intrastate natural gas pipelines and two fully integrated storage facilities with 12.7 Bcf of working gas capacity.

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Investor(S) 1

Investor

Targa Resources

Houston, Texas, United States
Category Company
Founded 2005
Sector Energy Services and Equipment
Employees3,370
Revenue 16.4B USD (2024)
DESCRIPTION

Targa Resources is an independent midstream energy companies in the U.S., providing gas gathering, processing, fractionation and transportation through an extensive portfolio of integrated midstream assets. Targa Resources was founded in 2005 and is based in Houston, Texas.

DEAL STATS #
Overall 2 of 12
Sector (Energy Services and Equipment) 2 of 10
Type (Stake Purchase) 1 of 1
State (Louisiana) 1 of 2
Country (United States) 2 of 12
Year (2004) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-01 ConocoPhillips - Midstream Assets

Houston, Texas, United States

ConocoPhillips - Midstream Assets consists of an integrated gathering and processing system, covering approximately 2,000 square miles from Lake Charles to Lafayette, with approximately 700 miles of pipeline and processing capacity of about 260 MMcfd and 14 MBD of NGL raw mix production.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-02 Bridgeline

New Orleans, Louisiana, United States

Bridgeline LLC is an owns and operator of over 1,000 miles of intrastate natural gas pipelines and two fully integrated storage facilities with 12.7 Bcf of working gas capacity.

Sell -

Seller(S) 1

SELLER

Texaco

White Plains, New York, United States
Category Company
Founded 1901
Sector Oil/Gas Exploration
Employees19,011
Revenue 35.0B USD (1999)
DESCRIPTION

Texaco, Inc. is a refiner and retailer of gasoline and petroleum products. It was formed in 1901 in Beaumont, Texas.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Stake Purchase) 1 of 1
State (Louisiana) 1 of 1
Country (United States) 1 of 1
Year (2004) 1 of 1
Mergr

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