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 LP (NYSE: HESM) announced its participation in the NYSE Energy and Utilities Investor Access Day on September 14, 2022, and the Credit Suisse Houston Oil & Gas Conference on September 21, 2022. A presentation is available on the Hess Midstream website. The company is a fee-based, growth-oriented midstream firm focused on operating and acquiring diverse midstream assets, primarily in the Bakken and Three Forks Shale plays in North Dakota. For more information, visit www.hessmidstream.com.
Hess Midstream LP (NYSE: HESM) announced that CFO Jonathan Stein and VP of Investor Relations Jennifer Gordon will meet with investors at the Goldman Sachs Power, Utilities, MLPs and Pipelines Conference on August 11, 2022 and the Citi Midstream and Energy Infrastructure Conference from August 16-17, 2022. Presentations will be available in the investors section of Hess Midstream's website.
Hess Midstream focuses on fee-based services and owns key assets in the Bakken and Three Forks Shale formations in North Dakota.
Hess Midstream LP reported second quarter 2022 net income of $151.8 million, down from $162.0 million year-over-year, with a per Class A share earnings increase to $0.51 from $0.44. The company completed a repurchase of 13.5 million Class B units for $400 million. Adjusted EBITDA stood at $242.6 million while Distributable Cash Flow reached $206.2 million. Hess Midstream continues to target 5% annual distribution growth through 2024 and reaffirms its financial guidance for full-year 2022, projecting revenues to be 95% committed to minimum volume commitments.
Hess Midstream LP (NYSE: HESM) announced a quarterly cash distribution of $0.5559 per Class A share for Q2 2022, marking a 1.2% increase from the previous quarter. This translates to a 5% annualized increase. The payment date is set for August 12, 2022, with a record date of August 4, 2022. Hess Midstream operates a diverse range of midstream assets focused on servicing Hess Corporation and third-party clients, primarily in the Bakken and Three Forks Shale regions of North Dakota.
Hess Midstream LP (NYSE: HESM) will conduct its second quarter 2022 earnings call on July 27, 2022, at 12:00 p.m. Eastern Time. Interested participants are required to register in advance to receive a unique PIN and phone number. The earnings call will also be accessible via a webcast on the company's website. Hess Midstream focuses on fee-based, growth-oriented midstream services, primarily in the Bakken and Three Forks Shale plays in North Dakota. Key details about the company and its operations are highlighted in the press release.
Hess Midstream LP (NYSE: HESM) announced that CFO Jonathan Stein and VP of Investor Relations Jennifer Gordon will meet with investors at the J.P. Morgan Energy, Power & Renewables Conference on June 22, 2022. A presentation is available in the Investors section of Hess Midstream's website. The company focuses on fee-based, growth-oriented midstream services, operating primarily in the Bakken and Three Forks Shale plays in North Dakota.
Hess Midstream LP (NYSE: HESM) announced that Jonathan Stein, CFO, and Jennifer Gordon, VP of Investor Relations, will meet with investors at two conferences: the Citi Global Energy, Utilities and Climate Technology Conference on May 10, 2022, and the EIC Investor Conference on May 17, 2022. A presentation will be available in the 'Investors' section of the Hess Midstream website.
Hess Midstream offers fee-based, growth-oriented midstream services primarily in the Bakken and Three Forks Shale plays in North Dakota.
Hess Midstream (HESM) reported a net income of $159.6 million for Q1 2022, matching the prior year's results, with distributable cash flow of $211.6 million. A cash distribution of $0.5492 per Class A share was declared, reflecting a 6.3% increase. Revenue rose to $312.4 million, driven by higher minimum volume commitments and tariff rates. Capital expenditures reached $37.1 million, primarily for gas compression expansion. The company maintains a 5% annual distribution growth target and expects 95% revenue protection from minimum volume commitments in 2022.
Hess Midstream LP (NYSE: HESM) announced a quarterly cash distribution of $0.5492 per Class A share for Q1 2022, marking a 6.3% increase compared to Q4 2021. The raise includes a 5% immediate increase in distribution levels, supported by strong cash flow. Hess Midstream targets a continuous 5% annual distribution growth through at least 2024, with coverage expected above 1.4x. The distribution will be paid on May 13, 2022, to shareholders recorded by May 5, 2022.
Hess Midstream LP (NYSE: HESM) announced a conference call scheduled for April 27, 2022, at 12:00 p.m. Eastern Time to discuss its first quarter 2022 earnings. Interested parties can join the call by dialling 866-395-9624 in the US or 213-660-0871 internationally. The call will also be available via webcast. A replay will be accessible until May 12, 2022. The company focuses on midstream assets primarily in the Bakken and Three Forks Shale regions of North Dakota.