Fourth Quarter 2022 Highlights:
- Net income was $149.8 million. Net cash provided by
operating activities was $222.6 million.
- Net income attributable to Hess Midstream LP was $21.8
million, or $0.49 basic earnings per Class A share, after deduction
for noncontrolling interests.
- Adjusted EBITDA1 was $245.1 million, Distributable Cash
Flow1 was $202.6 million and Adjusted Free Cash Flow1 was $144.1
million.
Hess Midstream LP (NYSE: HESM) (“Hess Midstream”) today reported
fourth quarter 2022 net income of $149.8 million compared with net
income of $165.1 million for the fourth quarter of 2021. After
deduction for noncontrolling interests, net income attributable to
Hess Midstream was $21.8 million, or $0.49 basic earnings per Class
A share compared with $16.9 million, or $0.51 basic earnings per
Class A share in the year-ago quarter. Hess Midstream generated
Adjusted EBITDA of $245.1 million. Distributable Cash Flow (“DCF”)
for the fourth quarter of 2022 was $202.6 million and Adjusted Free
Cash Flow was $144.1 million.
“Despite severe weather conditions in 2022, we delivered volume
growth and made targeted compression additions that increased our
gas capture capability and position us well for expected volume
growth in 2023 and beyond,” said John Gatling, President and Chief
Operating Officer of Hess Midstream. “With stable and focused
capital investments, we expect to drive increasing volumes through
our systems, sustainably generating free cash flow and supporting
the return of capital to our shareholders."
Hess Midstream’s results contained in this release are
consolidated to include the noncontrolling interests in Hess
Midstream Operations LP owned by affiliates of Hess Corporation
(“Hess”) and Global Infrastructure Partners (“GIP” and together
with Hess, the “Sponsors”). 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.
(1) Adjusted EBITDA, Distributable Cash Flow and Adjusted Free
Cash Flow are non‑GAAP measures. Definitions and reconciliations of
these non‑GAAP measures to GAAP reporting measures appear in the
following pages of this release.
Financial Results
Revenues and other income in the fourth quarter of 2022 were
$314.6 million compared with $316.3 million in the prior-year
quarter. Fourth quarter 2022 revenues included $16.7 million of
pass-through electricity, produced water trucking and disposal
costs and certain other fees and $41.7 million of shortfall fee
payments related to minimum volume commitments (“MVC”) compared
with $21.3 million and $23.3 million, respectively, in the
prior-year quarter. Fourth quarter 2022 revenues and other income
were down $1.7 million compared to the prior-year quarter primarily
due to lower gas and crude oil throughput volumes, partially offset
by MVC shortfall fees and slightly higher tariff rates. Total
operating costs and expenses in the fourth quarter of 2022 were
$118.2 million, up from $116.4 million in the prior-year quarter.
The increase was primarily attributable to depreciation expense for
additional assets placed in service. Interest expense in the fourth
quarter of 2022 was $40.7 million, up from $31.4 million in the
prior-year quarter primarily attributable to the $400.0 million
5.50% fixed-rate senior notes issued in April 2022 and higher
interest rates on the Term Loan A credit facility.
Net income for the fourth quarter of 2022 was $149.8 million, or
$0.49 basic earnings per Class A share, after deduction for
noncontrolling interests, compared with $0.51 basic earnings per
Class A share in the year-ago quarter. While net income
attributable to Hess Midstream increased as a result of a unit
repurchase transaction completed earlier in 2022, the earnings per
share declined slightly from the year-ago quarter based on a higher
number of Class A shares following a secondary equity offering also
completed earlier in 2022. Substantially all of income tax expense
was attributed to earnings of Class A shares reflective of our
organizational structure. Net cash provided by operating activities
for the fourth quarter of 2022 was $222.6 million.
Adjusted EBITDA for the fourth quarter of 2022 was $245.1
million. Relative to distributions, DCF for the fourth quarter of
2022 of $202.6 million resulted in an approximately 1.5x
distribution coverage ratio. Adjusted Free Cash Flow for the fourth
quarter of 2022 was $144.1 million.
Full year 2022 net income was approximately $620.6 million, full
year Adjusted EBITDA was approximately $982.9 million, and full
year Adjusted Free Cash Flow of $610.6 million exceeded declared
distributions of $536.6 million. At 2022 year-end, debt was
approximately $2.9 billion, representing leverage of approximately
3.0x.
Hess Midstream plans to issue 2023 guidance in a separate
release on January 25, 2023.
Operational Highlights
Throughput volumes in the fourth quarter of 2022 compared with
the fourth quarter of 2021 decreased 12% for crude oil gathering
and 11% for terminaling primarily due to the impact of severe
winter weather in December. Throughput volumes decreased 5% for gas
processing and 5% for gas gathering in the fourth quarter of 2022
compared with the fourth quarter of 2021 primarily due to deferred
maintenance that was incurred in November and the impact of severe
winter weather in December. Water gathering volumes increased 7%
reflecting continued steady organic growth of our water handling
business.
Capital Expenditures
Capital expenditures for the fourth quarter of 2022 totaled
$62.4 million, including $58.5 million of expansion capital
expenditures and $3.9 million of maintenance capital expenditures,
and were primarily attributable to continued expansion of our gas
compression capacity. Capital expenditures in the prior-year
quarter were $54.4 million, including $52.2 million of expansion
capital expenditures and $2.2 million of maintenance capital
expenditures, and were also primarily attributable to expansion of
our gas compression capacity.
Quarterly Cash Distributions
On January 23, 2023, our general partner’s board of directors
declared a quarterly cash distribution of $0.5696 per Class A share
for the fourth quarter of 2022, an approximate increase of 1.2%
over the distribution for the prior quarter, consistent with Hess
Midstream's targeted 5% growth in annual distributions per Class A
share. The distribution is expected to be paid on February 13, 2023
to shareholders of record as of the close of business on February
2, 2023.
Investor Webcast
Hess Midstream will review fourth quarter financial and
operating results and other matters on a webcast today at 12:00
p.m. Eastern Time. For details about the event, refer to the
Investor Relations sections of our website at
www.hessmidstream.com.
About Hess Midstream
Hess Midstream LP is a fee‑based, growth-oriented midstream
company that owns, operates, develops and acquires a diverse set of
midstream assets to provide services to Hess and third‑party
customers. Hess Midstream owns oil, gas and produced water handling
assets that are primarily located in the Bakken and Three Forks
Shale plays in the Williston Basin area of North Dakota. More
information is available at www.hessmidstream.com.
Reconciliation of U.S. GAAP to Non‑GAAP Measures
In addition to our financial information presented in accordance
with U.S. generally accepted accounting principles (“GAAP”),
management utilizes certain additional non‑GAAP measures to
facilitate comparisons of past performance and future periods.
“Adjusted EBITDA” presented in this release is defined as reported
net income (loss) before net interest expense, income tax expense,
depreciation and amortization and our proportional share of
depreciation of our equity affiliates, as further adjusted to
eliminate the impact of certain items that we do not consider
indicative of our ongoing operating performance, such as
transaction costs, other income and other non‑cash and
non‑recurring items, if applicable. “Distributable Cash Flow” or
“DCF” is defined as Adjusted EBITDA less net interest, excluding
amortization of deferred financing costs, cash paid for federal and
state income taxes and maintenance capital expenditures. DCF does
not reflect changes in working capital balances. We define
“Adjusted Free Cash Flow” as DCF less expansion capital
expenditures and ongoing contributions to equity investments. We
define "Gross Adjusted EBITDA Margin" as the ratio of Adjusted
EBITDA to total revenues, less pass-through revenues. We believe
that investors’ understanding of our performance is enhanced by
disclosing these measures as they may assist in assessing our
operating performance as compared to other publicly traded
companies in the midstream energy industry, without regard to
historical cost basis or, in the case of Adjusted EBITDA, financing
methods, and assessing the ability of our assets to generate
sufficient cash flow to make distributions to our shareholders.
These measures are not, and should not be viewed as, a substitute
for GAAP net income or cash flow from operating activities and
should not be considered in isolation. Reconciliations of Adjusted
EBITDA, DCF, Adjusted Free Cash Flow and Gross Adjusted EBITDA
Margin to reported net income (GAAP) and net cash provided by
operating activities (GAAP), are provided below. Hess Midstream is
unable to project net cash provided by operating activities with a
reasonable degree of accuracy because this metric includes the
impact of changes in operating assets and liabilities related to
the timing of cash receipts and disbursements that may not relate
to the period in which the operating activities occur. Therefore,
Hess Midstream is unable to provide projected net cash provided by
operating activities, or the related reconciliation of projected
Adjusted Free Cash Flow to projected net cash provided by operating
activities without unreasonable effort.
Fourth Quarter
(unaudited)
2022
2021
(in millions, except ratio and per-share
data)
Reconciliation of Adjusted EBITDA and
Distributable Cash Flow to net income:
Net income
$
149.8
$
165.1
Plus:
Depreciation expense
46.4
43.5
Proportional share of equity affiliates'
depreciation
1.2
1.2
Interest expense, net
40.7
31.4
Income tax expense (benefit)
7.0
5.4
Adjusted EBITDA
245.1
246.6
Less:
Interest, net(1)
38.6
29.4
Maintenance capital expenditures
3.9
2.2
Distributable cash flow
$
202.6
$
215.0
Reconciliation of Adjusted EBITDA,
Distributable Cash Flow and Adjusted Free Cash Flow to net cash
provided by operating activities:
Net cash provided by operating
activities
$
222.6
$
223.5
Changes in assets and liabilities
(12.5
)
(6.4
)
Amortization of deferred financing
costs
(2.2
)
(2.0
)
Proportional share of equity affiliates'
depreciation
1.2
1.2
Interest expense, net
40.7
31.4
Earnings from equity investments
1.1
2.0
Distribution from equity investments
(5.5
)
(2.8
)
Other
(0.3
)
(0.3
)
Adjusted EBITDA
$
245.1
$
246.6
Less:
Interest, net(1)
38.6
29.4
Maintenance capital expenditures
3.9
2.2
Distributable cash flow
$
202.6
$
215.0
Less:
Expansion capital expenditures
58.5
52.2
Adjusted free cash flow
$
144.1
$
162.8
Distributed cash flow
136.6
130.9
Distribution coverage ratio
1.5
x
1.6
x
Distribution per Class A share
$
0.5696
$
0.5167
(1) Excludes amortization of deferred financing costs.
Fourth Quarter
(Unaudited)
2022
2021
(in millions)
Reconciliation of gross Adjusted EBITDA
margin to net income:
Net income
$
149.8
$
165.1
Plus:
Depreciation expense
46.4
43.5
Proportional share of equity affiliates'
depreciation
1.2
1.2
Interest expense, net
40.7
31.4
Income tax expense (benefit)
7.0
5.4
Adjusted EBITDA
$
245.1
$
246.6
Total revenues
$
314.6
$
316.3
Less: pass-through revenues
16.7
21.3
Revenues excluding pass-through
$
297.9
$
295.0
Gross Adjusted EBITDA margin
82
%
84
%
Year Ended December
31,
(in millions, except ratio and per-share
data)
2022
2021
(Unaudited)
Reconciliation of Adjusted EBITDA and
Distributable Cash Flow to net income:
Net income
$
620.6
$
617.8
Plus:
Depreciation expense
181.3
165.6
Proportional share of equity affiliates'
depreciation
5.1
5.1
Interest expense, net
149.3
105.4
Income tax expense (benefit)
26.6
14.6
Adjusted EBITDA
$
982.9
$
908.5
Less:
Interest, net(1)
140.5
98.1
Maintenance capital expenditures
7.2
11.8
Distributable cash flow
$
835.2
$
798.6
Reconciliation of Adjusted EBITDA,
Distributable Cash Flow and Adjusted Free Cash Flow to net cash
provided by operating activities:
Net cash provided by operating
activities
$
861.1
$
795.5
Changes in assets and liabilities
(14.5
)
18.0
Amortization of deferred financing
costs
(8.8
)
(7.3
)
Proportional share of equity affiliates'
depreciation
5.1
5.1
Interest expense, net
149.3
105.4
Earnings from equity investments
5.3
(17.4
)
Distribution from equity investments
(13.0
)
10.6
Other
(1.6
)
(1.4
)
Adjusted EBITDA
$
982.9
$
908.5
Less:
Interest, net(1)
140.5
98.1
Maintenance capital expenditures
7.2
11.8
Distributable cash flow
$
835.2
$
798.6
Less:
Expansion capital expenditures
224.6
171.2
Adjusted free cash flow
$
610.6
$
627.4
Distributed cash flow
536.6
532.5
Distribution coverage ratio
1.6
x
1.5
x
Distribution per Class A share
$
2.2374
$
1.9839
(1) Excludes amortization of deferred financing costs.
Year Ended December
31,
2022
2021
(Unaudited)
(in millions)
Reconciliation of gross Adjusted EBITDA
margin to net income:
Net income
$
620.6
$
617.8
Plus:
Depreciation expense
181.3
165.6
Proportional share of equity affiliates'
depreciation
5.1
5.1
Interest expense, net
149.3
105.4
Income tax expense (benefit)
26.6
14.6
Adjusted EBITDA
$
982.9
$
908.5
Total revenues
$
1,275.2
$
1,203.8
Less: pass-through revenues
81.4
87.4
Revenues excluding pass-through
$
1,193.8
$
1,116.4
Gross Adjusted EBITDA margin
82
%
81
%
Cautionary Note Regarding Forward-looking
Information
This press release contains “forward-looking statements” within
the meaning of U.S. federal securities laws. Words such as
“anticipate,” “estimate,” “expect,” “forecast,” “guidance,”
“could,” “may,” “should,” “would,” “believe,” “intend,” “project,”
“plan,” “predict,” “will,” “target” and similar expressions
identify forward-looking statements, which are not historical in
nature. Our forward-looking statements may include, without
limitation: our future financial and operational results; our
business strategy; our industry; our expected revenues; our future
profitability; our maintenance or expansion projects; our projected
budget and capital expenditures and the impact of such expenditures
on our performance; and future economic and market conditions in
the oil and gas industry.
Forward-looking statements are based on our current
understanding, assessments, estimates and projections of relevant
factors and reasonable assumptions about the future.
Forward-looking statements are subject to certain known and unknown
risks and uncertainties that could cause actual results to differ
materially from our historical experience and our current
projections or expectations of future results expressed or implied
by these forward-looking statements. The following important
factors could cause actual results to differ materially from those
in our forward-looking statements: the ability of Hess and other
parties to satisfy their obligations to us, including Hess’ ability
to meet its drilling and development plans on a timely basis or at
all, its ability to deliver its nominated volumes to us, and the
operation of joint ventures that we may not control; our ability to
generate sufficient cash flow to pay current and expected levels of
distributions; reductions in the volumes of crude oil, natural gas,
natural gas liquids (“NGLs”) and produced water we gather, process,
terminal or store; the actual volumes we gather, process, terminal
or store for Hess in excess of our MVCs and relative to Hess'
nominations; fluctuations in the prices and demand for crude oil,
natural gas and NGLs; changes in global economic conditions and the
effects of a global economic downturn or inflation on our business
and the business of our suppliers, customers, business partners and
lenders; the direct and indirect effects of an epidemic or outbreak
of an infectious disease, such as COVID-19 and its variants, on our
business and those of our business partners, suppliers and
customers, including Hess; our ability to comply with government
regulations or make capital expenditures required to maintain
compliance, including our ability to obtain or maintain permits
necessary for capital projects in a timely manner, if at all, or
the revocation or modification of existing permits; our ability to
successfully identify, evaluate and timely execute our capital
projects, investment opportunities and growth strategies, whether
through organic growth or acquisitions; costs or liabilities
associated with federal, state and local laws, regulations and
governmental actions applicable to our business, including
legislation and regulatory initiatives relating to environmental
protection and health and safety, such as spills, releases,
pipeline integrity and measures to limit greenhouse gas emissions
and climate change; our ability to comply with the terms of our
credit facility, indebtedness and other financing arrangements,
which, if accelerated, we may not be able to repay; reduced demand
for our midstream services, including the impact of weather or the
availability of the competing third-party midstream gathering,
processing and transportation operations; potential disruption or
interruption of our business due to catastrophic events, such as
accidents, severe weather events, labor disputes, information
technology failures, constraints or disruptions and cyber-attacks;
any limitations on our ability to access debt or capital markets on
terms that we deem acceptable, including as a result of weakness in
the oil and gas industry or negative outcomes within commodity and
financial markets; liability resulting from litigation; and other
factors described in Item 1A—Risk Factors in our Annual Report on
Form 10-K and any additional risks described in our other filings
with the Securities and Exchange Commission.
As and when made, we believe that our forward-looking statements
are reasonable. However, given these risks and uncertainties,
caution should be taken not to place undue reliance on any such
forward-looking statements since such statements speak only as of
the date when made and there can be no assurance that such
forward-looking statements will occur and actual results may differ
materially from those contained in any forward-looking statement we
make. Except as required by law, we undertake no obligation to
publicly update or revise any forward-looking statements, whether
because of new information, future events or otherwise.
HESS MIDSTREAM LP
SUPPLEMENTAL FINANCIAL DATA (UNAUDITED) (IN
MILLIONS)
Fourth
Fourth
Third
Quarter
Quarter
Quarter
2022
2021
2022
Statement of operations
Revenues
Affiliate services
$
313.9
$
316.3
$
334.2
Other income
0.7
-
0.6
Total revenues
314.6
316.3
334.8
Costs and expenses
Operating and maintenance expenses
(exclusive of depreciation shown separately below)
65.7
66.8
79.6
Depreciation expense
46.4
43.5
45.5
General and administrative expenses
6.1
6.1
5.7
Total operating costs and expenses
118.2
116.4
130.8
Income from operations
196.4
199.9
204.0
Income from equity investments
1.1
2.0
2.8
Interest expense, net
40.7
31.4
39.9
Income before income tax expense
(benefit)
156.8
170.5
166.9
Income tax expense (benefit)
7.0
5.4
7.5
Net income
$
149.8
$
165.1
$
159.4
Less: Net income attributable to
noncontrolling interest
128.0
148.2
136.2
Net income attributable to Hess Midstream
LP
$
21.8
$
16.9
$
23.2
Net income attributable to Hess Midstream
LP per Class A share:
Basic
$
0.49
$
0.51
$
0.53
Diluted
$
0.49
$
0.51
$
0.53
Weighted average Class A shares
outstanding
Basic
44.0
33.0
44.0
Diluted
44.1
33.1
44.1
HESS MIDSTREAM LP
SUPPLEMENTAL FINANCIAL DATA (UNAUDITED) (IN
MILLIONS)
Year Ended December
31,
2022
2021
Statement of
operations
Revenues
Affiliate services
$
1,273.2
$
1,203.8
Other income
2.0
-
Total revenues
1,275.2
1,203.8
Costs and expenses
Operating and maintenance expenses
(exclusive of depreciation shown separately below)
279.6
288.3
Depreciation expense
181.3
165.6
General and administrative expenses
23.1
22.7
Total operating costs and expenses
484.0
476.6
Income from operations
791.2
727.2
Income from equity investments
5.3
10.6
Interest expense, net
149.3
105.4
Income before income tax expense
(benefit)
647.2
632.4
Income tax expense (benefit)
26.6
14.6
Net income
$
620.6
$
617.8
Less: Net income attributable to
noncontrolling interest
536.7
571.4
Net income attributable to Hess Midstream
LP
$
83.9
$
46.4
Net income attributable to Hess Midstream
LP per Class A share:
Basic:
$
2.03
$
1.81
Diluted:
$
2.01
$
1.76
Weighted average Class A shares
outstanding
Basic
41.3
25.6
Diluted
41.4
25.7
HESS MIDSTREAM LP
SUPPLEMENTAL FINANCIAL DATA (UNAUDITED) (IN
MILLIONS)
Fourth Quarter 2022
Gathering
Processing and Storage
Terminaling and Export
Interest and Other
Total
Statement of
operations
Revenues
Affiliate services
$
166.1
$
118.8
$
29.0
$
-
$
313.9
Other income
-
-
0.7
-
0.7
Total revenues
166.1
118.8
29.7
-
314.6
Costs and expenses
Operating and maintenance expenses
(exclusive of depreciation shown separately below)
42.5
18.4
4.8
-
65.7
Depreciation expense
28.0
14.4
4.0
-
46.4
General and administrative expenses
2.8
1.3
0.3
1.7
6.1
Total operating costs and expenses
73.3
34.1
9.1
1.7
118.2
Income (loss) from operations
92.8
84.7
20.6
(1.7
)
196.4
Income from equity investments
-
1.1
-
-
1.1
Interest expense, net
-
-
-
40.7
40.7
Income before income tax expense
(benefit)
92.8
85.8
20.6
(42.4
)
156.8
Income tax expense (benefit)
-
-
-
7.0
7.0
Net income (loss)
92.8
85.8
20.6
(49.4
)
149.8
Less: Net income (loss) attributable to
noncontrolling interest
75.9
69.8
16.9
(34.6
)
128.0
Net income (loss) attributable to Hess
Midstream LP
$
16.9
$
16.0
$
3.7
$
(14.8
)
$
21.8
Fourth Quarter 2021
Gathering
Processing and Storage
Terminaling and Export
Interest and Other
Total
Statement of
operations
Revenues
Affiliate services
$
166.0
$
115.8
$
34.5
$
-
$
316.3
Total revenues
166.0
115.8
34.5
-
316.3
Costs and expenses
Operating and maintenance expenses
(exclusive of depreciation shown separately below)
37.2
26.0
3.6
-
66.8
Depreciation expense
25.5
14.0
4.0
-
43.5
General and administrative expenses
2.2
1.5
0.2
2.2
6.1
Total operating costs and expenses
64.9
41.5
7.8
2.2
116.4
Income (loss) from operations
101.1
74.3
26.7
(2.2
)
199.9
Income from equity investments
-
2.0
-
-
2.0
Interest expense, net
-
-
-
31.4
31.4
Income before income tax expense
(benefit)
101.1
76.3
26.7
(33.6
)
170.5
Income tax expense (benefit)
-
-
-
5.4
5.4
Net income (loss)
101.1
76.3
26.7
(39.0
)
165.1
Less: Net income (loss) attributable to
noncontrolling interest
88.0
66.4
23.1
(29.3
)
148.2
Net income (loss) attributable to Hess
Midstream LP
$
13.1
$
9.9
$
3.6
$
(9.7
)
$
16.9
HESS MIDSTREAM LP
SUPPLEMENTAL FINANCIAL DATA (UNAUDITED) (IN
MILLIONS)
Third Quarter 2022
Gathering
Processing and Storage
Terminaling and Export
Interest and Other
Total
Statement of
operations
Revenues
Affiliate services
$
182.0
$
121.7
$
30.5
$
-
$
334.2
Other income
-
-
0.6
0.6
Total revenues
182.0
121.7
31.1
-
334.8
Costs and expenses
Operating and maintenance expenses
(exclusive of depreciation shown separately below)
48.9
25.1
5.6
-
79.6
Depreciation expense
26.9
14.5
4.1
-
45.5
General and administrative expenses
2.8
1.0
0.2
1.7
5.7
Total operating costs and expenses
78.6
40.6
9.9
1.7
130.8
Income (loss) from operations
103.4
81.1
21.2
(1.7
)
204.0
Income from equity investments
-
2.8
-
-
2.8
Interest expense, net
-
-
-
39.9
39.9
Income before income tax expense
(benefit)
103.4
83.9
21.2
(41.6
)
166.9
Income tax expense (benefit)
-
-
-
7.5
7.5
Net income (loss)
103.4
83.9
21.2
(49.1
)
159.4
Less: Net income (loss) attributable to
noncontrolling interest
84.5
68.7
17.2
(34.2
)
136.2
Net income (loss) attributable to Hess
Midstream LP
$
18.9
$
15.2
$
4.0
$
(14.9
)
$
23.2
HESS MIDSTREAM LP
SUPPLEMENTAL OPERATING DATA (UNAUDITED) (IN
THOUSANDS)
Fourth
Fourth
Third
Quarter
Quarter
Quarter
2022
2021
2022
Throughput
volumes
Gas gathering - Mcf of natural gas per
day
328
345
370
Crude oil gathering - bopd
93
106
102
Gas processing - Mcf of natural gas per
day
312
330
354
Crude terminals - bopd
101
113
110
NGL loading - blpd
9
14
11
Water gathering - blpd
77
72
83
Year Ended December
31,
2022
2021
Throughput
volumes
Gas gathering - Mcf of natural gas per
day
333
324
Crude oil gathering - bopd
96
110
Gas processing - Mcf of natural gas per
day
319
305
Crude terminals - bopd
103
116
NGL loading - blpd
11
13
Water gathering - blpd
74
73
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230125005143/en/
For Hess Midstream LP Investor Contact: Jennifer
Gordon (212) 536-8244 Media Contact: Robert Young (713)
496-6076
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