Divestiture/carve-outOct 6, 2026Pending
🇺🇸 United States
CSChevron’s DJ Basin crude oil and natural gas gathering and storage assetsHMHess Midstream LP
Energy › Midstream
Enterprise value$200MEnterprise value
AnnouncedOct 6, 2026
ConsiderationCash
StructureOther
RegionNorth America
Cross-borderNo
Contingent paymentNo
Overview
Hess Midstream LP agreed to acquire Chevron's DJ Basin crude oil and natural gas gathering and storage assets, including a minority interest in a long-haul pipeline, and Chevron agreed to contribute its ownership interests in Hess Midstream and its general partner to Hess Midstream for cancellation. Hess Midstream agreed to pay Chevron $200 million in cash.
Deal rationale
The transaction is expected to establish Hess Midstream as an independent, multi-basin midstream company, diversify its geographic presence, increase third-party revenues, and support investment by Chevron in the Bakken.
AI-generated from the SEC filingPendingEnergy › MidstreamUnited StatesNorth America
Timeline
Valuation and terms
| Equity value | Undisclosed | |
|---|---|---|
| Enterprise value | $200M | Headline figure |
| Consideration | Cash |
Advisors
Buy-side
None listed
Sell-side
BOBank of AmericaEEvercore
Parties
Target
CSChevron’s DJ Basin crude oil and natural gas gathering and storage assets
- Headquarters
- United States
- Ticker
- —
Acquirer
HMHess Midstream LP
- Headquarters
- United States
- Ticker
- —
Seller
CChevron
- Headquarters
- —
- Ticker
- —