Hess Midstream Partners News
Hess Midstream Partners LP Announces Increased Quarterly Cash Distribution
HOUSTON--(BUSINESS WIRE)--Jan. 23, 2018--Hess Midstream Partners LP(NYSE: HESM) (“Hess Midstream” or the “Partnership”), today announced that the Board of Directors of its general partner declared a quarterly cash distribution of$0.3218per common unit for the quarter endedDecember 31, 2017. The distribution represents a 3.6% quarterly increase compared to the Partnership's previous quarterly distribution, and 15% on an annualized basis. The distribution will be payable onFebruary 13, 2018to unitholders of record as of the close of business onFebruary 2, 2018.
Platts Features Hess Midstream COO in Americas Energy CEO Series for Johnson's Corner Header System and Crude Oil Delivery
n an interview with Platts, Hess Midstream COO John Gatling describes the benefits Hess and other Bakken producers have realized from the startup of the Johnson's Corner Header System, which delivers crude from McKenzie County in North Dakota to the Dakota Access Pipeline (DAPL). "It is operating well and the project was delivered [three months] ahead of schedule," Gatling said. Johnson's Corner is providing options for Bakken producers to fetch a premium by exporting their crude for the first time to distant markets via the U.S. Gulf Coast, Gatling said. The startup of DAPL has provided 50,000 b/d of new export capacity for Hess, while Hess Midstream still moving 10,000 b/d in rail cars to U.S. West Coast, he said.