Q2 2026 Earnings

Coastal NGL Production

38.7

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 (In millions, except operating statistics and price amounts) NGL production, MBbl/d (3) Coastal 38.7 31.6 7.1 22 % 38.2 32.2 6.0 19 % Segment operating statistics include the effect of intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period. (2) Plant natural gas inlet represents our undivided interest in the volume of natural gas passing through the meter located at the inlet of a natural gas processing plant. (3) Plant natural gas inlet volumes and gross NGL production volumes include producer take-in-kind volumes, while natural gas sales and NGL sales exclude producer take-in-kind volumes. (4) Permian Midland includes operations in WestTX, of which we own a 72.8% undivided interest, and other plants that are owned 100% by us. Operating results for the WestTX undivided interest assets are presented on a pro-rata net basis in our reported financials. (5) Operations include facilities that are not wholly owned by us.

Permian Delaware NGL Production

500.8

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 (In millions, except operating statistics and price amounts) NGL production, MBbl/d (3) Permian Delaware 500.8 406.7 94.1 23 % 485.4 386.8 98.6 25 % Segment operating statistics include the effect of intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period. (2) Plant natural gas inlet represents our undivided interest in the volume of natural gas passing through the meter located at the inlet of a natural gas processing plant. (3) Plant natural gas inlet volumes and gross NGL production volumes include producer take-in-kind volumes, while natural gas sales and NGL sales exclude producer take-in-kind volumes. (4) Permian Midland includes operations in WestTX, of which we own a 72.8% undivided interest, and other plants that are owned 100% by us. Operating results for the WestTX undivided interest assets are presented on a pro-rata net basis in our reported financials. (5) Operations include facilities that are not wholly owned by us.

Permian Midland NGL Production

506.1

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 (In millions, except operating statistics and price amounts) NGL production, MBbl/d (3) Permian Midland (4) 506.1 450.1 56.0 12 % 485.6 439.9 45.7 10 % Segment operating statistics include the effect of intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period. (2) Plant natural gas inlet represents our undivided interest in the volume of natural gas passing through the meter located at the inlet of a natural gas processing plant. (3) Plant natural gas inlet volumes and gross NGL production volumes include producer take-in-kind volumes, while natural gas sales and NGL sales exclude producer take-in-kind volumes. (4) Permian Midland includes operations in WestTX, of which we own a 72.8% undivided interest, and other plants that are owned 100% by us. Operating results for the WestTX undivided interest assets are presented on a pro-rata net basis in our reported financials. (5) Operations include facilities that are not wholly owned by us.

Total NGL Production

1.2K

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 (In millions, except operating statistics and price amounts) NGL production, MBbl/d (3) Total 1,180.8 1,025.2 155.6 15 % 1,135.9 984.5 151.4 15 % Segment operating statistics include the effect of intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period. (2) Plant natural gas inlet represents our undivided interest in the volume of natural gas passing through the meter located at the inlet of a natural gas processing plant. (3) Plant natural gas inlet volumes and gross NGL production volumes include producer take-in-kind volumes, while natural gas sales and NGL sales exclude producer take-in-kind volumes. (4) Permian Midland includes operations in WestTX, of which we own a 72.8% undivided interest, and other plants that are owned 100% by us. Operating results for the WestTX undivided interest assets are presented on a pro-rata net basis in our reported financials. (5) Operations include facilities that are not wholly owned by us.

Total Permian NGL Production

1.0K

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 (In millions, except operating statistics and price amounts) NGL production, MBbl/d (3) Total Permian 1,006.9 856.8 150.1 18 % 971.0 826.7 144.3 17 % Segment operating statistics include the effect of intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period. (2) Plant natural gas inlet represents our undivided interest in the volume of natural gas passing through the meter located at the inlet of a natural gas processing plant. (3) Plant natural gas inlet volumes and gross NGL production volumes include producer take-in-kind volumes, while natural gas sales and NGL sales exclude producer take-in-kind volumes. (4) Permian Midland includes operations in WestTX, of which we own a 72.8% undivided interest, and other plants that are owned 100% by us. Operating results for the WestTX undivided interest assets are presented on a pro-rata net basis in our reported financials. (5) Operations include facilities that are not wholly owned by us.

Condensate Sales Volume

22.4

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 (In millions, except operating statistics and price amounts) Condensate sales, MBbl/d 22.4 20.1 2.3 11 % 22.1 19.1 3.0 16 % Segment operating statistics include the effect of intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period.

Export Volume

487.1

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 (In millions, except operating statistics) Operating statistics MBbl/d (1): Export volumes (3) 487.1 423.1 64.0 15% 462.2 435.3 26.9 6 % (1) Segment operating statistics include intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period. (2) Represents the total quantity of mixed NGLs that earn a transportation margin. (3) Export volumes represent the quantity of NGL products delivered to third-party customers at our Galena Park Marine Terminal that are destined for international markets.

Logistics NGL Sales Volume

1.3K

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 (In millions, except operating statistics) Operating statistics MBbl/d (1): NGL sales 1,310.9 1,151.1 159.8 14% 1,307.5 1,168.6 138.9 12 % (1) Segment operating statistics include intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period.

NGL Sales Volume

680.8

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 (In millions, except operating statistics and price amounts) NGL sales, MBbl/d (3) 680.8 606.4 74.4 12 % 653.5 588.4 65.1 11 % Segment operating statistics include the effect of intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period. (2) Plant natural gas inlet represents our undivided interest in the volume of natural gas passing through the meter located at the inlet of a natural gas processing plant. (3) Plant natural gas inlet volumes and gross NGL production volumes include producer take-in-kind volumes, while natural gas sales and NGL sales exclude producer take-in-kind volumes.

Natural Gas Sales Volume

3.1K

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 (In millions, except operating statistics and price amounts) Natural gas sales, BBtu/d (3) 3,080.1 2,819.5 260.6 9 % 3,060.3 2,706.7 353.6 13 % Segment operating statistics include the effect of intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period. (2) Plant natural gas inlet represents our undivided interest in the volume of natural gas passing through the meter located at the inlet of a natural gas processing plant. (3) Plant natural gas inlet volumes and gross NGL production volumes include producer take-in-kind volumes, while natural gas sales and NGL sales exclude producer take-in-kind volumes.

Badlands Natural Gas Inlet

133.8

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 (In millions, except operating statistics and price amounts) Plant natural gas inlet, MMcf/d (2) (3) Badlands (5) (6) 133.8 130.9 2.9 2 % 130.4 133.9 (3.5 ) (3 %) Segment operating statistics include the effect of intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period. (2) Plant natural gas inlet represents our undivided interest in the volume of natural gas passing through the meter located at the inlet of a natural gas processing plant. (3) Plant natural gas inlet volumes and gross NGL production volumes include producer take-in-kind volumes, while natural gas sales and NGL sales exclude producer take-in-kind volumes. (4) Permian Midland includes operations in WestTX, of which we own a 72.8% undivided interest, and other plants that are owned 100% by us. Operating results for the WestTX undivided interest assets are presented on a pro-rata net basis in our reported financials. (5) Operations include facilities that are not wholly owned by us. (6) Badlands natural gas inlet represents the total wellhead volume and includes the Targa volumes processed at the Little Missouri 4 plant.

Central Plant Natural Gas Inlet

1.0K

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 (In millions, except operating statistics and price amounts) Plant natural gas inlet, MMcf/d (2) (3) Central (5) 1,010.3 1,086.3 (76.0 ) (7 %) 1,018.8 1,035.8 (17.0 ) (2 %) Segment operating statistics include the effect of intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period. (2) Plant natural gas inlet represents our undivided interest in the volume of natural gas passing through the meter located at the inlet of a natural gas processing plant. (3) Plant natural gas inlet volumes and gross NGL production volumes include producer take-in-kind volumes, while natural gas sales and NGL sales exclude producer take-in-kind volumes. (4) Permian Midland includes operations in WestTX, of which we own a 72.8% undivided interest, and other plants that are owned 100% by us. Operating results for the WestTX undivided interest assets are presented on a pro-rata net basis in our reported financials. (5) Operations include facilities that are not wholly owned by us. (6) Badlands natural gas inlet represents the total wellhead volume and includes the Targa volumes processed at the Little Missouri 4 plant.

Coastal Plant Natural Gas Inlet

577.5

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 (In millions, except operating statistics and price amounts) Plant natural gas inlet, MMcf/d (2) (3) Coastal 577.5 398.8 178.7 45 % 562.4 398.8 163.6 41 % Segment operating statistics include the effect of intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period. (2) Plant natural gas inlet represents our undivided interest in the volume of natural gas passing through the meter located at the inlet of a natural gas processing plant. (3) Plant natural gas inlet volumes and gross NGL production volumes include producer take-in-kind volumes, while natural gas sales and NGL sales exclude producer take-in-kind volumes. (4) Permian Midland includes operations in WestTX, of which we own a 72.8% undivided interest, and other plants that are owned 100% by us. Operating results for the WestTX undivided interest assets are presented on a pro-rata net basis in our reported financials. (5) Operations include facilities that are not wholly owned by us. (6) Badlands natural gas inlet represents the total wellhead volume and includes the Targa volumes processed at the Little Missouri 4 plant.

Crude Oil Gathered

143.8

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 (In millions, except operating statistics and price amounts) Crude oil gathered, MBbl/d 143.8 116.5 27.3 23 % 139.5 126.3 13.2 10 % Segment operating statistics include the effect of intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period.

Fractionation Volume

1.2K

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 (In millions, except operating statistics) Operating statistics MBbl/d (1): Fractionation volumes 1,206.1 969.1 237.0 24% 1,175.8 974.5 201.3 21 % (1) Segment operating statistics include intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period.

NGL Pipeline Transportation Volume

1.1K

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 (In millions, except operating statistics) Operating statistics MBbl/d (1): NGL pipeline transportation volumes (2) 1,098.9 961.2 137.7 14% 1,058.1 902.7 155.4 17 % (1) Segment operating statistics include intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period. (2) Represents the total quantity of mixed NGLs that earn a transportation margin.

Permian Delaware Plant Natural Gas Inlet

3.8K

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 (In millions, except operating statistics and price amounts) Plant natural gas inlet, MMcf/d (2) (3) Permian Delaware 3,793.8 3,171.8 622.0 20 % 3,685.6 3,096.5 589.1 19 % Segment operating statistics include the effect of intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period. (2) Plant natural gas inlet represents our undivided interest in the volume of natural gas passing through the meter located at the inlet of a natural gas processing plant. (3) Plant natural gas inlet volumes and gross NGL production volumes include producer take-in-kind volumes, while natural gas sales and NGL sales exclude producer take-in-kind volumes. (4) Permian Midland includes operations in WestTX, of which we own a 72.8% undivided interest, and other plants that are owned 100% by us. Operating results for the WestTX undivided interest assets are presented on a pro-rata net basis in our reported financials. (5) Operations include facilities that are not wholly owned by us. (6) Badlands natural gas inlet represents the total wellhead volume and includes the Targa volumes processed at the Little Missouri 4 plant.

Permian Midland Plant Natural Gas Inlet

3.4K

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 (In millions, except operating statistics and price amounts) Plant natural gas inlet, MMcf/d (2) (3) Permian Midland (4) 3,393.5 3,106.2 287.3 9 % 3,274.4 3,046.3 228.1 7 % Segment operating statistics include the effect of intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period. (2) Plant natural gas inlet represents our undivided interest in the volume of natural gas passing through the meter located at the inlet of a natural gas processing plant. (3) Plant natural gas inlet volumes and gross NGL production volumes include producer take-in-kind volumes, while natural gas sales and NGL sales exclude producer take-in-kind volumes. (4) Permian Midland includes operations in WestTX, of which we own a 72.8% undivided interest, and other plants that are owned 100% by us. Operating results for the WestTX undivided interest assets are presented on a pro-rata net basis in our reported financials. (5) Operations include facilities that are not wholly owned by us. (6) Badlands natural gas inlet represents the total wellhead volume and includes the Targa volumes processed at the Little Missouri 4 plant.

Total Permian Plant Natural Gas Inlet

7.2K

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 (In millions, except operating statistics and price amounts) Plant natural gas inlet, MMcf/d (2) (3) Total Permian 7,187.3 6,278.0 909.3 14 % 6,960.0 6,142.8 817.2 13 % Segment operating statistics include the effect of intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period. (2) Plant natural gas inlet represents our undivided interest in the volume of natural gas passing through the meter located at the inlet of a natural gas processing plant. (3) Plant natural gas inlet volumes and gross NGL production volumes include producer take-in-kind volumes, while natural gas sales and NGL sales exclude producer take-in-kind volumes. (4) Permian Midland includes operations in WestTX, of which we own a 72.8% undivided interest, and other plants that are owned 100% by us. Operating results for the WestTX undivided interest assets are presented on a pro-rata net basis in our reported financials. (5) Operations include facilities that are not wholly owned by us. (6) Badlands natural gas inlet represents the total wellhead volume and includes the Targa volumes processed at the Little Missouri 4 plant.

Total Plant Natural Gas Inlet

8.9K

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 vs. 2025 2026 2025 2026 vs. 2025 (In millions, except operating statistics and price amounts) Plant natural gas inlet, MMcf/d (2) (3) Total 8,908.9 7,894.0 1,014.9 13 % 8,671.6 7,711.3 960.3 12 % Segment operating statistics include the effect of intersegment amounts, which have been eliminated from the consolidated presentation. For all volume statistics presented, the numerator is the total volume sold during the period and the denominator is the number of calendar days during the period. (2) Plant natural gas inlet represents our undivided interest in the volume of natural gas passing through the meter located at the inlet of a natural gas processing plant. (3) Plant natural gas inlet volumes and gross NGL production volumes include producer take-in-kind volumes, while natural gas sales and NGL sales exclude producer take-in-kind volumes. (4) Permian Midland includes operations in WestTX, of which we own a 72.8% undivided interest, and other plants that are owned 100% by us. Operating results for the WestTX undivided interest assets are presented on a pro-rata net basis in our reported financials. (5) Operations include facilities that are not wholly owned by us. (6) Badlands natural gas inlet represents the total wellhead volume and includes the Targa volumes processed at the Little Missouri 4 plant.