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) has announced a public offering of 6,000,000 Class A shares managed by Hess Corporation's subsidiary and Global Infrastructure Partners. The underwriters are granted a 30-day option for an additional 900,000 shares. HESM will not receive proceeds from this offering. J.P. Morgan Securities LLC and Citigroup Global Markets Inc. are the joint bookrunning managers for the sale. The offering is subject to SEC regulations and will be conducted through an effective shelf registration statement.
Hess Midstream LP (NYSE: HESM) has announced that Jonathan Stein, CFO, and Jennifer Gordon, VP of Investor Relations, will meet investors on August 19, 2021, at the Citi Midstream and Energy Infrastructure Conference. A detailed presentation is available in the Investors section of Hess Midstream's website. The company operates in the Bakken and Three Forks Shale plays in North Dakota, focusing on fee-based midstream services for Hess and third-party clients. Forward-looking statements are included, with a reminder of inherent risks that could impact outcomes.
Hess Midstream LP (NYSE: HESM) announced that Chief Financial Officer Jonathan Stein and Vice President of Investor Relations Jennifer Gordon will engage with investors on August 11, 2021, at the Goldman Sachs Power, Utilities, MLPs and Pipelines Conference. Their appearance includes a fireside chat scheduled for 9:00 a.m. Eastern Time. A presentation will be available in the 'Investors' section of their website. Hess Midstream focuses on providing fee-based services through its diverse midstream assets, primarily located in North Dakota's Bakken and Three Forks Shale plays.
Hess Midstream Operations LP announced the pricing of $750 million in 4.250% senior unsecured notes due 2030. The offering is aimed at financing the repurchase of approximately 31 million Class B units from Hess Corporation and Global Infrastructure Partners. The private notes offering, restricted to qualified institutional buyers, is set to close on August 5, 2021, pending customary closing conditions. Importantly, the notes are not registered under the Securities Act, and thus cannot be offered or sold without proper registration or exemption.
Hess Midstream Operations LP, a subsidiary of Hess Midstream LP (NYSE: HESM), plans to offer $750 million in senior unsecured notes due 2030. The net proceeds will finance the repurchase of approximately 31 million Class B units from Hess Corporation and Global Infrastructure Partners. These Notes will be sold to qualified institutional buyers under Rule 144A and to non-U.S. Persons per Regulation S. The offering will not be registered under the Securities Act, and is not an offer to sell or a solicitation in any jurisdiction where such an offer would be unlawful.
Hess Midstream reported a strong second quarter 2021, with net income rising to $162 million from $107.8 million a year prior. Net income attributable to Hess Midstream was $11 million, or $0.44 per Class A share. Adjusted EBITDA reached $230.2 million and Distributable Cash Flow was $207.5 million. The company expects to see continued growth, driven by increased gas capture and a planned rig addition in September. A quarterly distribution of $0.5042 per share was declared, marking an 11% increase from the previous quarter.
Hess Midstream (HESM) announced an 11% increase in its quarterly distribution per Class A share, effective Q2 2021, reflecting a 10% immediate increase along with a targeted 5% annual growth. The Board also approved a $750 million unit repurchase program aimed at enhancing shareholder value and optimizing capital structure. This repurchase targets 31 million Class B units, expected to be accretive to distributable cash flow. The quarterly distribution of $0.5042 per Class A share will be payable on August 13, 2021, reinforcing financial flexibility and ongoing cash flow.
Hess Midstream LP (NYSE:HESM) announced a conference call on July 28, 2021, at 12:00 p.m. ET to discuss its second-quarter 2021 earnings. U.S. callers can dial 866-395-9624, while international participants should dial 213-660-0871, using passcode 7419849. The call will also be available via a webcast. A replay will be accessible from July 28 until August 12, 2021. Hess Midstream operates diverse midstream assets, primarily in North Dakota's Bakken and Three Forks Shale, providing essential services to Hess and other customers.
Hess Midstream LP (NYSE:HESM) announced that executives, including John Gatling, will meet with investors on June 22-23, 2021, at the J.P. Morgan Energy, Power and Renewables Conference. A fireside chat is scheduled for June 22 at 2:40 p.m. Eastern Time. Investors can access a presentation on the company’s website. Hess Midstream operates fee-based midstream services, focusing on oil, gas, and produced water handling primarily in the Bakken and Three Forks Shale plays in North Dakota.
Hess Midstream LP (NYSE: HESM) announced that CFO Jonathan Stein and VP of Investor Relations Jennifer Gordon will meet with investors at the EIC Investor Conference on May 19-20, 2021. An investor presentation is available in the Investors section of Hess Midstream's website.
Hess Midstream operates a range of fee-based midstream assets, primarily serving the Bakken and Three Forks Shale plays in North Dakota, focusing on oil, gas, and produced water handling.