Exhibit 99.1**TARGA RESOURCES PARTNERS LP ANNOUNCES CLOSING OF INITIAL PUBLIC OFFERING**HOUSTON, February 14, 2007 — Targa Resources Partners LP (NASDAQ: NGLS) (“Targa ResourcesPartners”) announcedtoday the closing of the initial public offering of 19,320,000 of its common units at $21.00 perunit. The number of units issuedat closing included 2,520,000 additional common units subject to the underwriters’ over-allotmentoption. Net proceedsreceived by Targa Resources Partners from the sale of these units were approximately $380.8million.The net proceeds from this offering, together with borrowings under a credit facility establishedby Targa Resources Partners,were used to retire intercompany indebtedness owed to Targa Resources, Inc. (“Targa”). Targa thenapplied these funds tothe retirement in full of its $700 million Senior Secured Bridge Loan due October 31, 2007.The common units offered to the public represent approximately 61.4 percent of the outstandingequity of Targa ResourcesPartners. Targa indirectly owns the remaining equity interests in Targa Resources Partners.Citigroup, Goldman, Sachs & Co., UBS Investment Bank and Merrill Lynch & Co. acted as jointbook-running managers of theoffering. A. G. Edwards, Credit Suisse, Lehman Brothers and Wachovia Securities acted as seniorco-managers and RaymondJames, RBC Capital Markets and Sanders Morris Harris acted as co-managers for the offering.A copy of the final prospectus related to the offering may be obtained from the offices of: (i)Citigroup Global Markets Inc.,Brooklyn Army Terminal, Attn: Prospectus Delivery Department, 140 58th Street, Brooklyn, New York11220, phone: 718-765-6732; (ii) Goldman, Sachs & Co., 85 Broad Street, New York, NY 10004, via fax at 212-902-9316 orvia e-mail at prospectusny@ny.email.gs.com; (iii) UBS Securities LLC, Prospectus Department, 299 Park Avenue, New York, N.Y.,10171, 212-821-3000; or (iv) Merrill Lynch & Co., 4 World Financial Center, Attention: Prospectus Department, NewYork, NY 10080; phone:212-449-1000.A registration statement relating to these securities has been filed with, and declared effectiveby, the Securities and ExchangeCommission. This news release shall not constitute an offer to sell or the solicitation of an offerto buy nor shall there be anysale of these securities in any state in which such offer, sale or solicitation would be unlawfulprior to registration or qualificationunder the securities law in any such state.**About Targa Resources Partners**Targa Resources Partners was recently formed by Targa to engage in the business of gathering,compressing, treating,processing and selling natural gas and the fractionating and selling of natural gas liquids andnatural gas liquids products withinitial operations in the Fort Worth Basin in north Texas. A subsidiary of Targa is the generalpartner of Targa ResourcesPartners. Targa Resources Partners owns approximately 3,950 miles of integrated gatheringpipelines, two natural gasprocessing plants and a fractionator.Targa Resources Partners’ principal executive offices are located at 1000 Louisiana, Suite 4300,Houston, Texas 77002 and itstelephone number is 713-584-1000.**Forward-Looking Statements**Statements about the offering are forward-looking statements within the meaning of the PrivateSecurities Litigation Reform Actof 1995. These forward-looking statements rely on a number of assumptions concerning future eventsand are subject to anumber of uncertainties and factors, many of which are outside Targa’s control, and a variety ofrisks that could cause resultsto differ materially from those expected by management of Targa or Targa Resources Partners.Investor contact: