Hess Midstream LP reports recurring developments for a fee-based midstream partnership that owns, operates, develops and acquires oil, gas and produced water handling assets. The company provides services to Chevron, its subsidiaries and third-party customers, with assets primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota.
News for HESM commonly covers operating and financial results, throughput trends, capital expenditure guidance, quarterly cash distributions, share and unit repurchases, return-of-capital plans and annual report filings. Company updates also address gathering, compression, processing, terminaling, export and produced water services tied to its midstream asset base.
Hess Midstream (HESM) declared a quarterly cash distribution of $0.7985 per Class A share for the quarter ended September 30, 2026. The distribution increased $0.0097 per share from the second quarter and is payable November 13, 2026, to holders of record at the close of business November 5.
The company targets 5% annualized distribution growth in the fourth quarter of 2026, expects 2027 quarterly distributions to match the expected fourth-quarter amount, and intends to maintain at least that level thereafter, fully funded by Adjusted Free Cash Flow, a non-GAAP measure. Third-quarter earnings will be released October 30, 2026, without a conference call following the October 7 Investor Update Call.
Hess Midstream (HESM) signed a definitive agreement with Chevron to acquire DJ Basin assets and become an independent, multi-basin midstream company. Hess Midstream will pay $200 million; Chevron will contribute its ownership interests for cancellation, reducing outstanding shares by nearly 40%, and transfer its general partner interests. The assets include a 20% Saddlehorn pipeline stake. Closing is expected by year-end 2026.
Bakken agreements will extend through 2045 with lower tariffs. Preliminary 2027 guidance, assuming closing by year-end 2026, includes adjusted EBITDA of $850–950 million and adjusted free cash flow of $525–625 million, both non-GAAP measures, with approximately $125 million in expected capital spending. Hess Midstream expects 2027 distributions to remain at fourth-quarter 2026 levels and Bakken throughput to decline approximately 5%. Shareholders will elect directors beginning in 2028.
Chevron (CVX) signed definitive agreements with Hess Midstream (HESM) to divest ownership interests and DJ Basin crude oil midstream assets. Chevron will transfer its Hess Midstream ownership interests and general partner position for improved commercial terms and $200 million in cash. The agreements extend Bakken contracts and establish new DJ Basin contracts.
Chevron expects approximately 50% lower Bakken unit midstream costs, full deconsolidation of Hess Midstream, including approximately $3.7 billion of its debt, and a 0.5% absolute increase in return on capital employed. At closing, an estimated approximately $3–$4 billion after-tax loss is expected because future Bakken cost savings cannot be recognized as an asset. The independent Conflicts Committee approved the transaction. Closing is expected by year-end 2026, subject to regulatory approvals and customary conditions.
Hess Midstream (NYSE: HESM) reported second quarter 2026 net income of $173.7 million versus $179.7 million a year earlier. Net income attributable to Hess Midstream was $96.4 million, or $0.75 basic earnings per Class A share, up from $0.74 in the second quarter of 2025.
Revenues and other income were $399.0 million compared with $414.2 million, reflecting lower throughput volumes partly offset by higher tariff rates and third‑party services. Adjusted EBITDA was $313.7 million and Adjusted Free Cash Flow was $231.6 million, with net cash provided by operating activities of $278.6 million.
Total operating costs and expenses fell to $145.8 million from $154.0 million, and capital expenditures declined 56% year over year to $30.6 million. The quarterly cash distribution was increased to $0.7888 per Class A share. The company reaffirmed its 2026 guidance, including net income of $650–700 million and Adjusted EBITDA of $1,225–1,275 million.
Hess Midstream (NYSE:HESM) declared a quarterly cash distribution of $0.7888 per Class A share for the quarter ended June 30, 2026, representing an increase of $0.0096 per share versus the first quarter of 2026. The distribution is payable on August 14, 2026 to Class A shareholders of record as of August 6, 2026. According to Hess Midstream, this second-quarter increase is consistent with its targeted 5% annual growth in distributions per Class A share through 2028.
Hess Midstream LP (NYSE: HESM) announced it will host a conference call on Monday, August 3, 2026, at 10:00 a.m. Eastern Time to discuss its second quarter 2026 earnings release.
Participants must register in advance to receive a unique PIN and dial-in number. The live audio webcast and replay will also be available on the company’s website at www.hessmidstream.com.
Hess Midstream (NYSE: HESM) reported Q1 2026 results: net income $157.7M, net income attributable $87.6M ($0.68 basic per Class A share), Adjusted EBITDA $299.8M, and Adjusted Free Cash Flow $237.0M. Q1 capital expenditures were $10.4M.
The board declared a quarterly distribution of $0.7792 per Class A share and completed $42.0M Class A and $18.0M Class B repurchases. 2026 guidance: net income $650–700M, Adjusted EBITDA $1,225–1,275M, capex $105M, and Adjusted Free Cash Flow $910–960M.
Hess Midstream (NYSE: HESM) announced a quarterly cash distribution of $0.7792 per Class A share for the quarter ended March 31, 2026, an increase of $0.0151 versus the fourth quarter of 2025. The board cited share reductions after a $42 million Class A repurchase and an $18 million Class B unit repurchase in March 2026.
The distribution is payable on May 14, 2026 to holders of record at the close of business on May 7, 2026. Management said the annualized impact of the increase is above the company’s targeted 5% growth in annual distributions per Class A share through 2028.
Hess Midstream (NYSE: HESM) will hold a conference call on Monday, May 4, 2026 at 10:00 a.m. ET to discuss first quarter 2026 earnings.
Participants must register in advance to receive a unique PIN and dial-in number. According to Hess Midstream, the call and replay will be available by audio webcast at www.hessmidstream.com.
Hess Midstream (NYSE: HESM) announced an accretive $60 million repurchase program combining an $18 million unit buyback from its Sponsor and a $42 million accelerated share repurchase (ASR) with JPMorgan.
The subsidiary will repurchase 455,811 Class B units at $39.49 per unit; the ASR includes an initial delivery of 744,492 Class A shares. Transactions are expected to settle in March 2026 and be funded with borrowings under the existing revolving credit facility, with the company stating about $1 billion of financial flexibility through 2028 and capacity to support distribution growth of at least 5% annually through 2028.