NYSE:HESM

Hess Midstream Operations LP Announces Private Offering of Senior Notes Due 2029

Retrieved on: 
Wednesday, May 8, 2024
Professional Services, Other Energy, Utilities, Oil, Gas, Energy, Finance, Sale, Person, Note, Regulation

Hess Midstream Operations LP (the “Issuer”), a consolidated subsidiary of Hess Midstream LP (NYSE: HESM) (“HESM” and, together with the Issuer, “Hess Midstream”), today announced that it intends to offer $500 million aggregate principal amount of senior unsecured notes due 2029 (the “Notes”) in a private offering.

Key Points: 
  • Hess Midstream Operations LP (the “Issuer”), a consolidated subsidiary of Hess Midstream LP (NYSE: HESM) (“HESM” and, together with the Issuer, “Hess Midstream”), today announced that it intends to offer $500 million aggregate principal amount of senior unsecured notes due 2029 (the “Notes”) in a private offering.
  • Hess Midstream intends to use the net proceeds from the offering to reduce indebtedness outstanding under its revolving credit facility and any remaining net proceeds for general corporate purposes.
  • The Notes are being sold only to persons reasonably believed to be “qualified institutional buyers” in the United States pursuant to Rule 144A and outside the United States to non-U.S.
  • Persons in compliance with Regulation S under the Securities Act of 1933, as amended (the “Securities Act”).

Hess Midstream Operations LP Announces Pricing of Upsized Private Offering of Senior Notes Due 2029

Retrieved on: 
Wednesday, May 8, 2024
Professional Services, Other Energy, Utilities, Oil, Gas, Energy, Finance, Sale, Person, Note, Regulation

Hess Midstream Operations LP (the “Issuer”), a consolidated subsidiary of Hess Midstream LP (NYSE: HESM) (“HESM” and, together with the Issuer, “Hess Midstream”), today announced that it has priced $600 million aggregate principal amount of 6.500% senior unsecured notes due 2029 (the “Notes”) at par in a private offering.

Key Points: 
  • Hess Midstream Operations LP (the “Issuer”), a consolidated subsidiary of Hess Midstream LP (NYSE: HESM) (“HESM” and, together with the Issuer, “Hess Midstream”), today announced that it has priced $600 million aggregate principal amount of 6.500% senior unsecured notes due 2029 (the “Notes”) at par in a private offering.
  • The aggregate principal amount of the offering was increased from the previously announced offering size of $500 million.
  • Hess Midstream intends to use the net proceeds from the offering to reduce indebtedness outstanding under its revolving credit facility and any remaining net proceeds for general corporate purposes.
  • The private offering of the Notes is expected to close on May 16, 2024, subject to the satisfaction of customary closing conditions.

Hess Midstream LP to Participate in Investor Conferences

Retrieved on: 
Wednesday, May 1, 2024
Professional Services, Other Energy, Utilities, Oil, Gas, Energy, Finance, Conference

Hess Midstream LP (NYSE: HESM) (“Hess Midstream”) announced today that Jonathan Stein, Chief Financial Officer, and Jennifer Gordon, Vice President, Investor Relations, will meet with investors at the Citi Energy and Climate Technology Conference on May 15, 2024, and at the EIC Annual Energy Infrastructure Conference on May 22, 2024.

Key Points: 
  • Hess Midstream LP (NYSE: HESM) (“Hess Midstream”) announced today that Jonathan Stein, Chief Financial Officer, and Jennifer Gordon, Vice President, Investor Relations, will meet with investors at the Citi Energy and Climate Technology Conference on May 15, 2024, and at the EIC Annual Energy Infrastructure Conference on May 22, 2024.

Hess Midstream LP Reports Estimated Results for the First Quarter of 2024

Retrieved on: 
Thursday, April 25, 2024
Professional Services, Other Energy, Utilities, Oil, Gas, Energy, Finance, Global Infrastructure Partners, Capital, Hess Corporation, Capital expenditure, Sponsor, Growth, Water, General partnership, GAAP, Petroleum

Hess Midstream LP (NYSE: HESM) (“Hess Midstream” or the "company") today reported first quarter 2024 net income of $161.9 million compared with net income of $142.2 million for the first quarter of 2023.

Key Points: 
  • Hess Midstream LP (NYSE: HESM) (“Hess Midstream” or the "company") today reported first quarter 2024 net income of $161.9 million compared with net income of $142.2 million for the first quarter of 2023.
  • We refer to certain results as “attributable to Hess Midstream LP,” which exclude the noncontrolling interests in Hess Midstream Operations LP owned by the Sponsors.
  • Revenues and other income in the first quarter of 2024 were $355.6 million compared with $305.0 million in the prior‑year quarter.
  • For 2025 and 2026, Hess Midstream continues to expect organic throughput volume growth across all systems relative to 2024 volume guidance.

Hess Midstream LP Announces Distribution Per Share Level Increase

Retrieved on: 
Monday, April 22, 2024
Professional Services, Other Energy, Utilities, Oil, Gas, Energy, Finance, Growth

Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), today announced that the Board of Directors of its general partner declared a quarterly cash distribution of $0.6516 per Class A share for the quarter ended March 31, 2024.

Key Points: 
  • Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), today announced that the Board of Directors of its general partner declared a quarterly cash distribution of $0.6516 per Class A share for the quarter ended March 31, 2024.
  • The distribution represents an approximate 2.7% increase in the quarterly distribution per Class A share for the first quarter of 2024 as compared to the fourth quarter of 2023.
  • This increase consists of an approximate 1.5% increase in Hess Midstream’s distribution level per Class A share in addition to the quarterly 1.2% increase per Class A share consistent with its target of at least 5% growth in annual distributions per Class A share through 2026.
  • With the combination of our 5% targeted annual distribution growth and our distribution level increases, we have increased our distribution per Class A share by approximately 45% since the first quarter of 2021.

Hess Midstream LP Schedules Earnings Release Conference Call

Retrieved on: 
Thursday, April 11, 2024
Professional Services, Other Energy, Utilities, Oil, Gas, Energy, Finance, Webcast, PIN

Hess Midstream LP (NYSE: HESM) (“Hess Midstream”) announced today that it will hold a conference call on Thursday, April 25, 2024, at 12:00 p.m. Eastern Time to discuss its first quarter 2024 earnings release.

Key Points: 
  • Hess Midstream LP (NYSE: HESM) (“Hess Midstream”) announced today that it will hold a conference call on Thursday, April 25, 2024, at 12:00 p.m. Eastern Time to discuss its first quarter 2024 earnings release.
  • To phone into the conference call, participants should register in advance using this link to receive a unique PIN and dial-in number.
  • This conference call and subsequent replay will also be accessible by webcast (audio only) on Hess Midstream’s website at www.hessmidstream.com .

Hess Midstream LP Announces Signing of Accretive $100 Million Sponsor Unit Repurchase

Retrieved on: 
Tuesday, March 12, 2024
Professional Services, Other Energy, Utilities, Oil, Gas, Energy, Finance, Hess Corporation, Class, Global Infrastructure Partners, Petroleum

Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), today announced the execution of a definitive agreement providing for the repurchase of approximately $100 million of Class B units by its subsidiary, Hess Midstream Operations LP, from affiliates of Hess Corporation and Global Infrastructure Partners, Hess Midstream’s sponsors (the “Sponsors”).

Key Points: 
  • Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), today announced the execution of a definitive agreement providing for the repurchase of approximately $100 million of Class B units by its subsidiary, Hess Midstream Operations LP, from affiliates of Hess Corporation and Global Infrastructure Partners, Hess Midstream’s sponsors (the “Sponsors”).
  • Hess Midstream Operations LP, Hess Midstream’s consolidated subsidiary, agreed to repurchase 2,816,901 Class B units of Hess Midstream Operations LP, equal to approximately 1.2% of the consolidated company, held by the Sponsors for an aggregate purchase price of approximately $100 million.
  • After completing the unit repurchase transaction, ownership of Hess Midstream on a consolidated basis will be approximately 35.4% for the public, 26.8% for Global Infrastructure Partners and 37.8% for Hess Corporation.
  • Hess Midstream expects to fund the unit repurchase through borrowings under its existing revolving credit facility.

Hess Midstream LP Announces Filing of 2023 Annual Report on Form 10-K

Retrieved on: 
Thursday, February 29, 2024
Professional Services, Other Energy, Utilities, Oil, Gas, Energy, Finance, Form 10-K, Security (finance), Bank statement, Annual report

Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), announced the filing of its annual report on Form 10-K for the fiscal year ended December 31, 2023 with the Securities and Exchange Commission on February 29, 2024.

Key Points: 
  • Hess Midstream LP (NYSE: HESM) (“Hess Midstream”), announced the filing of its annual report on Form 10-K for the fiscal year ended December 31, 2023 with the Securities and Exchange Commission on February 29, 2024.
  • A copy of the annual report is available on Hess Midstream’s website, www.hessmidstream.com , by selecting “Investors” and then “SEC Filings.”
    Shareholders may request printed copies of our annual report on Form 10-K, which includes Hess Midstream’s complete audited financial statements, free of charge by emailing Investor Relations at: [email protected] .

Hess Midstream LP to Participate in Investor Conferences

Retrieved on: 
Monday, February 26, 2024
Other Energy, Utilities, Oil, Gas, Finance, Public Relations, Investor Relations, Energy, Communications, Professional Services, Conference

Hess Midstream LP (NYSE: HESM) (“Hess Midstream”) announced today that Jonathan Stein, Chief Financial Officer, and Jennifer Gordon, Vice President, Investor Relations, will meet with investors at the Raymond James Institutional Investors Conference on March 4, 2024, and at the Morgan Stanley Global Energy & Power Conference on March 7, 2024.

Key Points: 
  • Hess Midstream LP (NYSE: HESM) (“Hess Midstream”) announced today that Jonathan Stein, Chief Financial Officer, and Jennifer Gordon, Vice President, Investor Relations, will meet with investors at the Raymond James Institutional Investors Conference on March 4, 2024, and at the Morgan Stanley Global Energy & Power Conference on March 7, 2024.

Hess Midstream LP Announces Pricing of Secondary Public Offering of Class A Shares

Retrieved on: 
Tuesday, February 6, 2024
Energy, Utilities, Oil, Gas, Global Infrastructure Partners, Security (finance), Sale, Exercise

The Selling Shareholder has granted the underwriter a 30-day option to purchase up to 1,500,000 additional Class A shares.

Key Points: 
  • The Selling Shareholder has granted the underwriter a 30-day option to purchase up to 1,500,000 additional Class A shares.
  • HESM will not receive any proceeds from the sale of Class A shares in the offering.
  • The offering is expected to close on February 8, 2024, subject to customary closing conditions.
  • Citigroup is acting as the bookrunning manager of the offering.