---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-085570"
form_type: "8-K"
ticker: "HESM"
cik: "0001789832"
company_name: "Hess Midstream LP"
filed_at: "2023-03-30T23:59:59+00:00"
generated_at: "2026-06-17T09:32:03.417456+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Hess Midstream repurchases $100M of Class B units from sponsors at $27.63/unit

## Summary
- Repurchased 3,619,254 Class B units from affiliates of Hess Corp and GIP for $100M at $27.63/unit (closing price on March 27, 2023).
- Repurchase funded via existing revolving credit facility; units cancelled, increasing public ownership to 18.3%.
- Expected to be accretive to shareholders and provide capacity for incremental distribution growth above 5% annual target.
- After repurchase, sponsors hold ~81.7% voting interest and 2.0% economic interest in Hess Midstream.
- Transaction approved by Board and Conflicts Committee; closed March 30, 2023.

## SEC filing metadata
- accession: 0001193125-23-085570
- form_type: 8-K
- ticker: HESM
- cik: 0001789832
- company_name: Hess Midstream LP
- filed_at: 2023-03-30T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1789832/000119312523085570/0001193125-23-085570-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1789832/000119312523085570/d392021d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-085570
- JSON: https://secwatch.observer/filing/0001193125-23-085570.json
- Plain text: https://secwatch.observer/filing/0001193125-23-085570.txt

## Key facts
- M&A Transactions
  Hess Midstream LP completed an acquisition involving Hess Investments North Dakota LLC and GIP II Blue Holding, L.P. for aggregate purchase price of approximately $100 million (closed 2023-03-30).
  - Action: acquisition
  - Counterparty: Hess Investments North Dakota LLC and GIP II Blue Holding, L.P.
  - Consideration: aggregate purchase price of approximately $100 million
  - Closing: 2023-03-30
  source text: On March 27, 2023, Hess Midstream LP, a Delaware limited partnership (the “Company”), Hess Midstream Operations LP, a Delaware limited partnership and a subsidiary of the Company that holds all of the Company’s operating assets (“HESM OpCo” and, together with the Company, the “Partnership Entities”), Hess Investments North Dakota LLC, a Delaware limited liability company (“HINDL”), and GIP II Blue Holding, L.P., a Delaware limited partnership (“GIP” and, together with HINDL, the “Sponsors” and each, a “Sponsor”), entered into a Unit Repurchase Agreement (the “Repurchase Agreement”) pursuant to which HESM OpCo agreed to purchase from the Sponsors (divided equally between the Sponsors) 3,619,254 Class B units representing limited partner interests in HESM OpCo (the “Class B Units” and such Class B Units subject to the Repurchase Agreement, the “Repurchased Units”) for an aggregate purchase price of approximately $100 million (the “Repurchase Transaction”). The Repurchase Transaction was
  evidence_url: https://www.sec.gov/Archives/edgar/data/1789832/000119312523085570/0001193125-23-085570-index.htm
- Material Agreements
  Hess Midstream LP entered into Unit Repurchase Agreement with Hess Investments North Dakota LLC and GIP II Blue Holding, L.P. valued at approximately $100 million (effective 2023-03-27).
  - Action: entry
  - Counterparty: Hess Investments North Dakota LLC and GIP II Blue Holding, L.P.
  - Value: approximately $100 million
  - Effective: 2023-03-27
  source text: On March 27, 2023, Hess Midstream LP, a Delaware limited partnership (the “Company”), Hess Midstream Operations LP, a Delaware limited partnership and a subsidiary of the Company that holds all of the Company’s operating assets (“HESM OpCo” and, together with the Company, the “Partnership Entities”), Hess Investments North Dakota LLC, a Delaware limited liability company (“HINDL”), and GIP II Blue Holding, L.P., a Delaware limited partnership (“GIP” and, together with HINDL, the “Sponsors” and each, a “Sponsor”), entered into a Unit Repurchase Agreement (the “Repurchase Agreement”) pursuant to which HESM OpCo agreed to purchase from the Sponsors (divided equally between the Sponsors) 3,619,254 Class B units representing limited partner interests in HESM OpCo (the “Class B Units” and such Class B Units subject to the Repurchase Agreement, the “Repurchased Units”) for an aggregate purchase price of approximately $100 million (the “Repurchase Transaction”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1789832/000119312523085570/0001193125-23-085570-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.