Hess Midstream repurchases $100M of sponsor Class B units, reducing unit count by ~1.5%

Hess Midstream LP

HESM OpCo repurchased 3,370,407 Class B units from affiliates of Hess Corp and GIP for $100M at $29.67/unit.
Post-repurchase ownership: public 29.8%, Global Infrastructure Partners 32.4%, Hess Corp 37.8%.
Since 2021, Hess Midstream has returned $1.55B to shareholders via unit repurchases, reducing total units by ~20%.
Repurchase funded through existing revolving credit facility; expects accretion and supports 5% annual distribution growth target through 2025.

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