Targa Resources Partners forms two joint ventures with subsidiary of Sanchez Energy Corporation
Clients Targa Resources Partners LP
Jones Day advised Targa Resources Partners LP ("TRP") on the formation of two joint ventures with a subsidiary of Sanchez Energy Corporation ("SN") to construct a new 200 MMcf/d cryogenic natural gas processing plant in La Salle County, Texas and approximately 45 miles of associated high pressure gathering pipelines that will connect SN's Catarina Ranch acreage in the Eagle Ford shale play to the processing plant, costing approximately $240 million. TRP and SN will each have a 50 percent ownership interest in the joint ventures. TRP will operate both the processing plant and the gathering pipelines and will hold all transportation capacity on the gathering pipelines.