Hess Midstream LP Class A Share representing a limited partner Interest (HESM)

The partnership provides essential services across the hydrocarbon value chain. Its assets gather crude oil and natural gas from production areas, compress and process natural gas, fractionate natural gas liquids, handle storage and terminaling, load and transport crude oil and NGLs, and manage produced water gathering and disposal. These activities are critical to moving production from the wellhead to downstream markets and export or distribution points.

Hess Midstream reports its operations through gathering, processing, and storage and terminaling/export activities. Gathering is a major contributor because it includes natural gas gathering and compression, crude oil gathering, and water handling infrastructure that producers need throughout the life of a field. The company’s revenue is generated through contracted fees for these services, which can provide more predictable cash flows than businesses exposed mainly to oil and gas price swings.

A defining feature of Hess Midstream is its relationship with Hess Corporation, now part of Chevron following Chevron’s acquisition of Hess. The partnership’s asset base and commercial arrangements are closely tied to the development of Hess-linked acreage, making production volumes, drilling activity, and long-term infrastructure demand in the Bakken important factors for investors to monitor.