---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-240508"
form_type: "8-K"
ticker: "HESM"
cik: "0001789832"
company_name: "Hess Midstream LP"
filed_at: "2023-09-22T23:59:59+00:00"
generated_at: "2026-06-10T09:48:47.898610+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Hess Midstream repurchases $100M of Class B units from sponsors at $30.29/unit

## Summary
- Repurchased 3,301,420 Class B units from Hess Corp and GIP affiliates for $100M ($30.29/unit).
- Units cancelled; transaction closed Sept 22, 2023, funded via credit facility.
- Public ownership rises to ~29.4%; sponsors hold ~70.6% voting, 1.3% economic interest.
- Expects >$1B financial flexibility through 2025 for potential additional repurchases.
- Accretive transaction supports distribution growth above 5% annual target through 2025.

## SEC filing metadata
- accession: 0001193125-23-240508
- form_type: 8-K
- ticker: HESM
- cik: 0001789832
- company_name: Hess Midstream LP
- filed_at: 2023-09-22T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1789832/000119312523240508/0001193125-23-240508-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1789832/000119312523240508/d469047d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-240508
- JSON: https://secwatch.observer/filing/0001193125-23-240508.json
- Plain text: https://secwatch.observer/filing/0001193125-23-240508.txt

## Key facts
- M&A Transactions
  Hess Midstream LP completed an acquisition involving HINDL and GIP II Blue Holding, L.P. for approximately $100 million (closed 2023-09-22).
  - Action: acquisition
  - Counterparty: HINDL and GIP II Blue Holding, L.P.
  - Consideration: approximately $100 million
  - Closing: 2023-09-22
  source text: 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 consummated on September 22, 2023. The purchase price per Class B Unit was $30.29, the closing price of the Class A
  evidence_url: https://www.sec.gov/Archives/edgar/data/1789832/000119312523240508/0001193125-23-240508-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 2023-09-19).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Hess Investments North Dakota LLC and GIP II Blue Holding, L.P.
  - Value: approximately $100 million
  - Effective: 2023-09-19
  source text: he “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) 3,301,420 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/1789832/000119312523240508/0001193125-23-240508-index.htm

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