Third Quarter 2024 Highlights:
- Net income was $164.7 million. Net cash provided by
operating activities was $224.9 million.
- Net income attributable to Hess Midstream LP was $58.6
million, or $0.63 basic earnings per Class A share, after deduction
for noncontrolling interests.
- Adjusted EBITDA1 was $286.9 million and Adjusted Free Cash
Flow1 was $141.4 million.
- Completed accretive $100 million repurchase of Class B units
of Hess Midstream Operations LP in September 2024.
- Increased quarterly cash distribution to $0.6846 per Class A
share for the third quarter of 2024, an increase of $0.0169 per
Class A share for the third quarter of 2024 compared with the
second quarter of 2024; this quarterly increase included
incremental distribution per Class A share growth utilizing excess
Adjusted Free Cash Flow available for distributions following the
accretive $100 million unit repurchase.
- Throughput volumes increased 9% for gas gathering and gas
processing compared with the prior-year quarter, primarily due to
higher production and higher gas capture.
Guidance:
- Hess Midstream LP expects $170 - $185 million of net income
and $295 - $310 million of Adjusted EBITDA in the fourth quarter of
2024, representing an approximate 5% increase in Adjusted EBITDA,
at the midpoint, compared with the third quarter of 2024 supported
by growing throughput volumes.
- Hess Midstream LP is reaffirming its full year 2024
throughput guidance.
- Hess Midstream LP continues to expect annualized growth in
gas throughput volumes of approximately 10% from 2024 through 2026
and continued growth in oil throughput volumes of approximately 10%
in 2025 and approximately 5% in 2026 as implied in its
already-established minimum volume commitments for 2026.
- Hess Midstream LP continues to target at least 5% annual
distribution growth per Class A share through 2026 and continues to
prioritize financial strength with a long-term leverage target of
3x Adjusted EBITDA.
- Hess Midstream LP continues to expect to generate greater
than $1.25 billion of financial flexibility through 2026 for
incremental shareholder returns, including potential unit
repurchases.
Hess Midstream LP (NYSE: HESM) (“Hess Midstream” or the
"company") today reported third quarter 2024 net income of $164.7
million compared with net income of $164.8 million for the third
quarter of 2023. After deduction for noncontrolling interests, net
income attributable to Hess Midstream was $58.6 million, or $0.63
basic earnings per Class A share, compared with $0.57 basic
earnings per Class A share in the third quarter of 2023. Hess
Midstream generated Adjusted EBITDA of $286.9 million. Net cash
provided by operating activities was $224.9 million and Adjusted
Free Cash Flow was $141.4 million.
(1) Adjusted EBITDA 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.
“We delivered another strong quarter, thanks to strong
operations and project execution,” said John Gatling, President and
Chief Operating Officer of Hess Midstream. “Our multi-year gas
gathering expansion projects are progressing well, and once
completed, they will further boost gas capture. We anticipate
volume growth through the balance of this year and remain confident
in throughput volume growth across all systems in 2025 and
2026.”
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.
Financial Results
Revenues and other income in the third quarter of 2024 were
$378.5 million compared with $363.1 million in the prior‑year
quarter. Third quarter 2024 affiliate revenues included $24.8
million of pass-through electricity, produced water trucking and
disposal costs and certain other fees compared with $25.1 million
in the prior-year quarter. Third quarter 2024 revenues and other
income were up $15.4 million compared with the prior-year quarter,
primarily due to higher physical volumes. Total operating costs and
expenses in the third quarter of 2024 were $146.8 million, up from
$143.1 million in the prior-year quarter, primarily attributable to
higher depreciation expense for additional assets placed in
service. Interest expense, net of interest income, in the third
quarter of 2024 was $51.8 million, up from $45.8 million in the
prior-year quarter, primarily attributable to the new $600.0
million 6.500% fixed-rate senior unsecured notes issued in May
2024, partially offset by lower interest on lower borrowings under
the company's revolving credit facility.
Net income for the third quarter of 2024 was $164.7 million, or
$0.63 basic earnings per Class A share, after deduction for
noncontrolling interests, compared with $0.57 basic earnings per
Class A share in the prior-year quarter. Substantially all of
income tax expense was attributed to earnings of Class A shares
reflective of Hess Midstream's organizational structure. Net cash
provided by operating activities for the third quarter of 2024 was
$224.9 million.
Adjusted EBITDA for the third quarter of 2024 was $286.9
million. Adjusted Free Cash Flow for the third quarter of 2024 was
$141.4 million. At September 30, 2024, Hess Midstream had a drawn
balance of $30.0 million on its revolving credit facility.
Operational Highlights
Throughput volumes increased 9% for gas gathering, crude oil
gathering and gas processing in the third quarter of 2024 compared
with the third quarter of 2023, primarily due to higher production
and higher gas capture. Throughput volumes decreased 5% for
terminaling in the third quarter of 2024 compared with the third
quarter of 2023, primarily due to lower third-party volumes. Water
gathering volumes increased 29%, reflecting higher crude oil
production and increased utilization of Hess Midstream's water
gathering infrastructure.
Capital Expenditures
Capital expenditures for the third quarter of 2024 totaled $96.3
million and were primarily attributable to continued expansion of
Hess Midstream's gas compression and related pipeline
infrastructure. Capital expenditures in the prior-year quarter were
$64.5 million and were also primarily attributable to expansion of
the company's gas compression and related pipeline
infrastructure.
Quarterly Cash Distributions
On October 28, 2024, the Board of Directors of Hess Midstream's
General Partner declared a quarterly cash distribution of $0.6846
per Class A share for the third quarter of 2024, an increase of
$0.0169 per Class A share as compared with the second quarter of
2024. This quarterly increase includes incremental distribution per
Class A share growth utilizing excess Adjusted Free Cash Flow
available for distributions following Hess Midstream's accretive
$100 million unit repurchase in September 2024 and, on an
annualized basis, is significantly above the company's targeted 5%
growth in annual distributions per Class A share through 2026. The
distribution is expected to be paid on November 14, 2024, to
shareholders of record as of the close of business on November 7,
2024.
Guidance
For the fourth quarter of 2024, Hess Midstream expects net
income of $170 - $185 million and Adjusted EBITDA of $295 - $310
million, implying full year expected net income of $655 - $670
million and Adjusted EBITDA of $1,135 - $1,150 million. The
approximate 5% increase in Adjusted EBITDA, at the midpoint, in the
fourth quarter of 2024 compared with the third quarter of 2024 is
supported by growing throughput volumes, partially offset by volume
impacts from power losses due to the October 2024 wildfires, higher
expected operating expenses from continuing an active maintenance
program and higher anticipated allocations under our omnibus and
employee secondment agreements.
Hess Midstream is reaffirming its full year 2024 throughput
guidance. Hess Midstream is also updating its full year 2024
capital expenditure guidance to approximately $275 million,
reflecting faster Hess drilling and Hess Midstream's continuing
accelerated execution of its multi‑year projects to build two
compressor stations and associated pipeline infrastructure in
support of Hess' expected production growth.
Hess Midstream continues to target at least 5% annual
distribution growth per Class A share through 2026 from this new
higher distribution level and continues to prioritize financial
strength with a long-term leverage target of 3x Adjusted EBITDA.
For 2025 and 2026, Hess Midstream continues to expect organic
throughput volume growth across all systems relative to 2024 volume
guidance.
Hess Midstream reiterates its guidance of at least 10% per year
expected growth in net income, Adjusted EBITDA and Adjusted Free
Cash Flow in each of 2025 and 2026. In addition, Hess Midstream
reiterates its guidance of annualized growth in gas throughput
volumes of approximately 10% from 2024 through 2026, and continued
growth in oil throughput volumes of approximately 10% in 2025 and
approximately 5% in 2026 as implied in its already-established
minimum volume commitments for 2026.
Investor Webcast
Hess Midstream will review third 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
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. We
previously reported the non-GAAP measure of “Adjusted EBITDA”,
which we 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. As this definition varied from
other definitions of Adjusted EBITDA, we determined it was
appropriate to discontinue reporting Adjusted EBITDA as previously
defined. Beginning with the second quarter of 2024, and as
presented in this release, “Adjusted EBITDA” is defined as reported
net income (loss) before net interest expense, income tax expense,
and depreciation and amortization, 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.
Prior period calculations of Adjusted EBITDA have been recast to
conform to the new presentation, as applicable. We define “Adjusted
Free Cash Flow” as Adjusted EBITDA less net interest, excluding
amortization of deferred financing costs, cash paid for federal and
state income taxes, 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, Adjusted Free Cash Flow and
Gross Adjusted EBITDA Margin to reported net income (GAAP), net
cash provided by operating activities (GAAP) and gross margin
(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.
Third Quarter
(unaudited)
2024
2023
(in millions)
Reconciliation of Adjusted EBITDA to
net income:
Net income
$
164.7
$
164.8
Plus:
Depreciation expense
51.5
47.7
Interest expense, net
51.8
45.8
Income tax expense
18.9
11.4
Adjusted EBITDA
$
286.9
$
269.7
Reconciliation of Adjusted EBITDA and
Adjusted Free Cash Flow to net cash provided by operating
activities:
Net cash provided by operating
activities
$
224.9
$
215.5
Changes in assets and liabilities
14.0
12.2
Amortization of deferred financing
costs
(2.6
)
(2.1
)
Interest expense, net
51.8
45.8
Income from equity investments
3.7
2.0
Distribution from equity investments
(4.4
)
(3.4
)
Other
(0.5
)
(0.3
)
Adjusted EBITDA
$
286.9
$
269.7
Less:
Interest, net(1)
49.2
43.8
Capital expenditures
96.3
64.5
Adjusted free cash flow
$
141.4
$
161.4
(1) Excludes amortization of deferred
financing costs.
Third Quarter
(Unaudited)
2024
2023
(in millions, except ratios)
Reconciliation of gross Adjusted EBITDA
margin to gross margin:
Income from operations
$
231.7
$
220.0
Total revenues
$
378.5
$
363.1
Gross margin
61
%
61
%
Income from operations
$
231.7
$
220.0
Plus:
Depreciation expense
51.5
47.7
Income from equity investments
3.7
2.0
Adjusted EBITDA
$
286.9
$
269.7
Total revenues
$
378.5
$
363.1
Less: pass-through revenues
24.8
25.1
Revenues excluding pass-through
$
353.7
$
338.0
Gross Adjusted EBITDA margin
81
%
80
%
Guidance
Fourth Quarter Ending
Year Ending
December 31, 2024
December 31, 2024
(Unaudited)
(Unaudited)
(in millions)
Reconciliation of Adjusted EBITDA and
Adjusted Free Cash Flow to net income:
Net income
$
170 - 185
$
655 - 670
Plus:
Depreciation expense
50
205
Interest expense, net
50
200
Income tax expense
25
75
Adjusted EBITDA
$
295 - 310
$
1,135 - 1,150
Less:
Interest, net*
45
190
Capital expenditures
70
275
Adjusted free cash flow
$
180 - 195
$
670 - 685
*Excludes amortization of deferred
financing costs.
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; future economic and market conditions in the
oil and gas industry; expected timing and completion of Hess’
proposed merger with Chevron Corporation (“Chevron”); and our
ability to execute future accretive opportunities, including
incremental return of capital to shareholders.
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; 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; risks and
uncertainties associated with Hess’ proposed merger with Chevron;
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)
Third
Third
Second
Quarter
Quarter
Quarter
2024
2023
2024
Statement of
operations
Revenues
Affiliate services
$
371.4
$
361.3
$
358.5
Third-party services
6.2
1.2
6.1
Other income
0.9
0.6
0.9
Total revenues
378.5
363.1
365.5
Costs and expenses
Operating and maintenance expenses
(exclusive of depreciation shown separately below)
89.0
89.4
87.5
Depreciation expense
51.5
47.7
50.5
General and administrative expenses
6.3
6.0
5.2
Total operating costs and expenses
146.8
143.1
143.2
Income from operations
231.7
220.0
222.3
Income from equity investments
3.7
2.0
3.7
Interest expense, net
51.8
45.8
49.7
Income before income tax expense
183.6
176.2
176.3
Income tax expense
18.9
11.4
16.0
Net income
$
164.7
$
164.8
$
160.3
Less: Net income attributable to
noncontrolling interest
106.1
129.5
110.8
Net income attributable to Hess Midstream
LP
$
58.6
$
35.3
$
49.5
Net income attributable to Hess Midstream
LP per Class A share:
Basic
$
0.63
$
0.57
$
0.59
Diluted
$
0.63
$
0.57
$
0.59
Weighted average Class A shares
outstanding
Basic
93.0
62.5
83.8
Diluted
93.0
62.5
83.8
HESS MIDSTREAM LP
SUPPLEMENTAL FINANCIAL DATA
(UNAUDITED)
(IN MILLIONS)
Nine Months Ended September
30,
2024
2023
Statement of
operations
Revenues
Affiliate services
$
1,079.3
$
986.6
Third-party services
17.6
3.7
Other income
2.7
1.8
Total revenues
1,099.6
992.1
Costs and expenses
Operating and maintenance expenses
(exclusive of depreciation shown separately below)
254.6
225.0
Depreciation expense
151.8
142.1
General and administrative expenses
17.2
18.2
Total operating costs and expenses
423.6
385.3
Income from operations
676.0
606.8
Income from equity investments
10.1
5.3
Interest expense, net
150.0
131.2
Income before income tax expense
(benefit)
536.1
480.9
Income tax expense (benefit)
49.2
26.0
Net income
$
486.9
$
454.9
Less: Net income attributable to
noncontrolling interest
334.2
373.8
Net income attributable to Hess Midstream
LP
$
152.7
$
81.1
Net income attributable to Hess Midstream
LP per Class A share:
Basic:
$
1.82
$
1.56
Diluted:
$
1.82
$
1.54
Weighted average Class A shares
outstanding
Basic
84.0
52.2
Diluted
84.0
52.2
HESS MIDSTREAM LP
SUPPLEMENTAL FINANCIAL DATA
(UNAUDITED)
(IN MILLIONS)
Third Quarter 2024
Gathering
Processing and Storage
Terminaling and Export
Interest and Other
Total
Statement of
operations
Revenues
Affiliate services
$
201.7
$
140.8
$
28.9
$
-
$
371.4
Third-party services
1.8
4.3
0.1
-
6.2
Other income
-
-
0.9
-
0.9
Total revenues
203.5
145.1
29.9
-
378.5
Costs and expenses
Operating and maintenance expenses
(exclusive of depreciation shown separately below)
51.3
30.3
7.4
-
89.0
Depreciation expense
32.2
15.0
4.3
-
51.5
General and administrative expenses
2.4
1.2
0.3
2.4
6.3
Total operating costs and expenses
85.9
46.5
12.0
2.4
146.8
Income (loss) from operations
117.6
98.6
17.9
(2.4
)
231.7
Income from equity investments
-
3.7
-
-
3.7
Interest expense, net
-
-
-
51.8
51.8
Income before income tax expense
117.6
102.3
17.9
(54.2
)
183.6
Income tax expense
-
-
-
18.9
18.9
Net income (loss)
117.6
102.3
17.9
(73.1
)
164.7
Less: Net income (loss) attributable to
noncontrolling interest
68.0
59.0
10.5
(31.4
)
106.1
Net income (loss) attributable to Hess
Midstream LP
$
49.6
$
43.3
$
7.4
$
(41.7
)
$
58.6
Third Quarter 2023
Gathering
Processing and Storage
Terminaling and Export
Interest and Other
Total
Statement of
operations
Revenues
Affiliate services
$
197.3
$
132.2
$
31.8
$
-
$
361.3
Third-party services
0.2
1.0
-
-
1.2
Other income
-
-
0.6
-
0.6
Total revenues
197.5
133.2
32.4
-
363.1
Costs and expenses
Operating and maintenance expenses
(exclusive of depreciation shown separately below)
52.5
26.7
10.2
-
89.4
Depreciation expense
28.9
14.5
4.3
-
47.7
General and administrative expenses
2.5
1.2
0.3
2.0
6.0
Total operating costs and expenses
83.9
42.4
14.8
2.0
143.1
Income (loss) from operations
113.6
90.8
17.6
(2.0
)
220.0
Income from equity investments
-
2.0
-
-
2.0
Interest expense, net
-
-
-
45.8
45.8
Income before income tax expense
113.6
92.8
17.6
(47.8
)
176.2
Income tax expense
-
-
-
11.4
11.4
Net income (loss)
113.6
92.8
17.6
(59.2
)
164.8
Less: Net income (loss) attributable to
noncontrolling interest
83.6
68.3
12.8
(35.2
)
129.5
Net income (loss) attributable to Hess
Midstream LP
$
30.0
$
24.5
$
4.8
$
(24.0
)
$
35.3
HESS MIDSTREAM LP
SUPPLEMENTAL FINANCIAL DATA
(UNAUDITED)
(IN MILLIONS)
Second Quarter 2024
Gathering
Processing and Storage
Terminaling and Export
Interest and Other
Total
Statement of
operations
Revenues
Affiliate services
$
193.7
$
135.2
$
29.6
$
-
$
358.5
Third-party services
1.8
4.3
-
-
6.1
Other income
-
-
0.9
-
0.9
Total revenues
195.5
139.5
30.5
-
365.5
Costs and expenses
Operating and maintenance expenses
(exclusive of depreciation shown separately below)
50.8
27.3
9.4
-
87.5
Depreciation expense
31.5
14.6
4.4
-
50.5
General and administrative expenses
2.3
1.0
0.2
1.7
5.2
Total operating costs and expenses
84.6
42.9
14.0
1.7
143.2
Income (loss) from operations
110.9
96.6
16.5
(1.7
)
222.3
Income from equity investments
-
3.7
-
-
3.7
Interest expense, net
-
-
-
49.7
49.7
Income before income tax expense
110.9
100.3
16.5
(51.4
)
176.3
Income tax expense
-
-
-
16.0
16.0
Net income (loss)
110.9
100.3
16.5
(67.4
)
160.3
Less: Net income (loss) attributable to
noncontrolling interest
69.6
62.8
10.4
(32.0
)
110.8
Net income (loss) attributable to Hess
Midstream LP
$
41.3
$
37.5
$
6.1
$
(35.4
)
$
49.5
HESS MIDSTREAM LP
SUPPLEMENTAL OPERATING DATA
(UNAUDITED)
(IN THOUSANDS)
Third
Third
Second
Quarter
Quarter
Quarter
2024
2023
2024
Throughput
volumes
Gas gathering - Mcf of natural gas per
day
442
404
440
Crude oil gathering - bopd
116
106
116
Gas processing - Mcf of natural gas per
day
419
386
419
Crude terminals - bopd
122
129
126
NGL loading - blpd
15
13
15
Water gathering - blpd
128
99
124
Nine Months Ended September
30,
2024
2023
Throughput
volumes
Gas gathering - Mcf of natural gas per
day
429
373
Crude oil gathering - bopd
112
98
Gas processing - Mcf of natural gas per
day
410
361
Crude terminals - bopd
122
114
NGL loading - blpd
15
11
Water gathering - blpd
123
89
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241030740091/en/
For Hess Midstream LP
Investor Contact:
Jennifer Gordon (212) 536-8244
Media Contact:
Lorrie Hecker (212) 536-8250
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