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ExxonMobil (XOM) Secures 20-Year Permian Midstream Deal with Targa

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The Story

News Summary

  • ExxonMobil (XOM) signed a 20-year deal with Targa Resources (TRGP) to support new Permian Basin midstream infrastructure.
  • While this secures long-term volume commitments for XOM, significantly increased capital spending by TRGP raises execution risk, tempering the immediate bullish sentiment.
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XOM price history

165.99 +46.00% over the displayed period

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