Hess Midstream LP HESM

What this company does

Hess Midstream is a fee-based limited partnership that owns, operates, develops and acquires midstream assets and provides fee-based services to Chevron, its subsidiaries, and third-party customers. Its assets are primarily located in the Bakken and Three Forks shale plays in the Williston Basin area of North Dakota. For the year ended December 31, 2025, 97% of its revenues were attributable to its fee-based commercial agreements with Chevron, including revenues from third-party volumes delivered under these agreements. The company conducts its business through three operating segments: gathering, processing and storage, and terminaling and export. Its gathering business consists of the Partnership's 100% interest in Hess North Dakota Pipelines Operations LP, which owns its North Dakota natural gas, NGL and crude oil gathering systems, and in Hess Water Services, which owns its produced water gathering and disposal facilities. Hess Midstream completed an initial public offering as a master limited partnership on April 10, 2017.

Written from the business description in Hess Midstream LP's annual report to the U.S. Securities and Exchange Commission, filed 25 February 2026. Every sentence was checked against that document before publication.