Welcome to our dedicated page for Hess Midstream P news (Ticker: HESM), a resource for investors and traders seeking the latest updates and insights on Hess Midstream P stock.
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) reported third-quarter 2020 net income of $115.8 million, up from $87.4 million in Q3 2019. After accounting for noncontrolling interests, net income attributable to Hess Midstream was $5.6 million or $0.31 per Class A share. Adjusted EBITDA reached $181.6 million, driven by higher Hess production and throughput volumes. The company declared a cash distribution of $0.4417 per Class A share, marking a 1.2% increase compared to the previous quarter. Hess Midstream raised its full-year guidance, expecting net income between $465M and $475M.
Hess Midstream LP (NYSE: HESM) announced a quarterly cash distribution of $0.4417 per Class A share for Q3 2020, reflecting a 1.2% increase from the previous quarter and a 5% annualized increase. The distribution will be paid on November 13, 2020, to shareholders on record as of November 5, 2020. Hess Midstream focuses on growth through its fee-based midstream operations, primarily within the Bakken and Three Forks Shale plays in North Dakota.
Hess Midstream LP (NYSE: HESM) announced a conference call scheduled for October 28, 2020, at 12:00 p.m. ET to discuss its third quarter 2020 earnings release. Investors can join by dialing 866-395-9624 or accessing a webcast on the company's website. A replay will be available until November 12, 2020. Hess Midstream operates fee-based midstream assets, primarily in the Bakken and Three Forks Shale plays in North Dakota, providing services to Hess and third-party customers.