Hess Midstream announces $100M accretive repurchase of $30M sponsor units and $70M ASR of Class A shares

Hess Midstream LP

Subsidiary Hess Midstream Operations LP repurchases 695,894 Class B units from Chevron affiliate for ~$30M at $43.11/share.
Enters $70M accelerated share repurchase (ASR) with JPMorgan; initial delivery of 1,136,627 Class A shares (70% of expected).
Post-repurchase public ownership ~62.4%, Chevron ~37.6%; repurchased securities to be cancelled, accretive to distributable cash flow per share.
Funded via revolving credit facility; unit repurchase closes August 8, ASR settlement expected September 2025.

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