---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-067915"
form_type: "8-K"
ticker: "HESM"
cik: "0001789832"
company_name: "Hess Midstream LP"
filed_at: "2024-03-14T23:59:59+00:00"
generated_at: "2026-06-04T21:26:31.731748+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Hess Midstream repurchases $100M of Class B units from sponsors

## Summary
- Repurchased 2,816,901 Class B units at $35.50/unit, ~1.2% of company, closing March 14, 2024.
- Funded via existing revolving credit facility; expected to be accretive to distributable cash flow per share.
- Since 2021, $1.65B returned to shareholders via repurchases, reducing unit count by over 20%.
- After repurchase: public 35.4%, GIP 26.8%, Hess Corp 37.8% ownership; >$1.25B financial flexibility through 2026.
- Transaction unanimously approved by board and independent conflicts committee.

## SEC filing metadata
- accession: 0001193125-24-067915
- form_type: 8-K
- ticker: HESM
- cik: 0001789832
- company_name: Hess Midstream LP
- filed_at: 2024-03-14T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1789832/000119312524067915/0001193125-24-067915-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1789832/000119312524067915/d790264d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-067915
- JSON: https://secwatch.observer/filing/0001193125-24-067915.json
- Plain text: https://secwatch.observer/filing/0001193125-24-067915.txt

## Key facts
- M&A Transactions
  Hess Midstream LP completed an acquisition involving HINDL and GIP for approximately $100 million (closed 2024-03-14).
  - Action: acquisition
  - Counterparty: HINDL and GIP
  - Consideration: approximately $100 million
  - Closing: 2024-03-14
  source text: B Units”) and (b) GIP 1,757,511 Class B Units (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 March 14, 2024. The purchase price per Class B Unit was $35.50, the closing price of the Class A
  evidence_url: https://www.sec.gov/Archives/edgar/data/1789832/000119312524067915/0001193125-24-067915-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 2024-03-11).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Hess Investments North Dakota LLC and GIP II Blue Holding, L.P.
  - Value: approximately $100 million
  - Effective: 2024-03-11
  source text: On March 11, 2024, 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 (a) HINDL 1,059,390 Class B units representing limited partner interests in HESM OpCo (the “Class B Units”) and (b) GIP 1,757,511 Class B Units (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/1789832/000119312524067915/0001193125-24-067915-index.htm

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