HESM

Hess Midstream LP operates a fee-based midstream energy company that provides crude oil and natural gas gathering, processing, and transportation services primarily in the Bakken and Three Forks Shale plays in North Dakota. The partnership owns, operates, develops, and acquires midstream assets through three integrated systems: gathering (crude oil and natural gas collection), processing (natural gas treatment and compression), and terminaling and export (crude oil storage and loading facilities). Hess Midstream serves as the primary midstream services provider for Hess Corporation's upstream operations in the Bakken, operating under long-term, fixed-fee commercial agreements that provide stable cash flows with minimal direct commodity price exposure. The company's integrated infrastructure includes approximately 1,300 miles of pipelines, multiple gas processing plants with significant processing capacity, and crude oil terminaling facilities with substantial storage capabilities. As of recent reports, Hess Midstream processes over 400 million cubic feet per day of natural gas and gathers approximately 175,000 barrels per day of crude oil. The partnership went public in 2017 and maintains strategic relationships with Hess Corporation, which remains a significant customer. Hess Midstream focuses on capital efficiency and organic growth opportunities driven by continued Bakken development activity, positioning itself as a critical infrastructure provider in one of North America's most productive unconventional oil and gas basins.