Hess Midstream Partners News
Hess Midstream Partners LP Announces 2018 Guidance and 2018 Capital Budget
HOUSTON--(BUSINESS WIRE)--Jan. 31, 2018-- Hess Midstream Partners LP (NYSE:HESM) (“Hess Midstream”) today provided 2018 guidance and announced its 2018 Capital budget. John Hess , Chairman and CEO of Hess Midstream, said: “The Bakken is Hess Corporation’s largest operated growth asset. With Hess’ industry-leading position in the core of the play and increased activity starting in 2018, the Bakken is expected to generate capital efficient production growth of 15 - 20 percent per year through 2020. This growth trajectory supports Hess Midstream infrastructure buildout, throughput growth and long-term distribution growth target of 15 percent
Hess in the News: Natural Gas Processing Plant in North Dakota
As a result of the announcement, Hess Midstream has deferred a 2019 project to expand processing capacity by de-bottlenecking the Tioga Gas Plant, shown here. Hess Midstream retains the option to further expand processing capacity by de-bottlenecking the Tioga Gas Plant in the future.
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.