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

The company now

Hess Midstream reported third-quarter 2026 net income of $179.1 million on 30 October, against $175.5 million a year earlier 1.

Revenues and other income were $410.1 million, down from $420.9 million, mainly because throughput volumes were lower, partly offset by higher tariff rates 1.

A tariff is the fee the company charges for each barrel, cubic foot or other unit it moves for a customer 4.

The deal announced on 6 October has Hess Midstream acquire the DJ Basin oil and gas gathering assets of its parent Chevron and take over the interests that let Chevron control it 23.

In return Hess Midstream pays $200 million in cash plus the closing working capital of the acquired business, and Chevron receives lower and longer Bakken contracts 2.

Chevron said the revised agreements are expected to cut its Bakken unit midstream costs by approximately 50 percent 6.

The agreement has Hess Midstream cancel the interests Chevron contributes, about 37.9 percent of the company on a consolidated basis, and the company expects its outstanding shares to fall by nearly 40 percent at closing 24.

Chief executive Jonathan Stein said the company expects the deal to close by the end of the year 1.

Closing depends among other things on the end of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 2.

As of Oct 30, 2026. Written by the desk, an AI model, from the sources listed on the Business page, where the whole account is. Nothing here is advice.

Newer filings are on file since this was written; an update is queued.