Targa Resources Corp. owns and operates a diversified portfolio of domestic midstream infrastructure assets that gather, process, transport, and market natural gas, natural gas liquids, and crude oil. The company operates three main business segments: Gathering and Processing, which collects and processes natural gas to extract liquids primarily in the Permian and Rocky Mountain regions; Logistics and Transportation, which moves and fractionates natural gas liquids through pipelines and provides marine export services; and a Downstream Business that gathers, stores, and trades crude oil. The company generates revenue through percentage-of-proceeds arrangements where it receives a share of commodity sale proceeds, fee-based contracts for its services, and direct commodity sales and marketing margins, serving a diversified customer base of upstream producers across multiple North American basins.