---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-418053"
form_type: "8-K"
ticker: "HESM"
cik: "0001789832"
company_name: "Hess Midstream LP"
filed_at: "2026-10-08T21:06:47+00:00"
generated_at: "2026-10-12T15:23:52.801533+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Hess Midstream to acquire Chevron DJ Basin assets and GP interests for $200 million plus commercial rights

## Summary
- Hess Midstream and HESM OpCo signed a Purchase and Sale Agreement on October 6, 2026 with Chevron subsidiaries Noble Energy, CMH NewCo and HINDL.
- Consideration includes $200 million cash for the HIP GP Interest plus CMH closing working capital and an irrevocable commercial contract right; HESM shares expected to fall nearly 40%.
- DJ Basin Assets include ~400,000 bbl/d oil gathering, 300 MMcf/d gas gathering, 420,000 bbl storage, and a 20% interest in the 300,000 bbl/d Saddlehorn pipeline.
- Bakken Commercial Agreements cut Chevron tariff rates, run through Dec 31, 2045 with two 5-year extensions, and include an 80% minimum revenue commitment until Dec 31, 2033.
- Chevron directors Kristi H. McCarthy, Kristen M. Ghattas, Barbara F. Harrison and Gerbert Schoonman are expected to resign; CEO Jonathan C. Stein gets target pay of at least $6.5M.

## SEC filing metadata
- accession: 0001193125-26-418053
- form_type: 8-K
- ticker: HESM
- cik: 0001789832
- company_name: Hess Midstream LP
- filed_at: 2026-10-08T21:06:47+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 5.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1789832/000119312526418053/0001193125-26-418053-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1789832/000119312526418053/d401552d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-418053
- JSON: https://secwatch.observer/filing/0001193125-26-418053.json
- Plain text: https://secwatch.observer/filing/0001193125-26-418053.txt

## Key facts
- Executive change
  Jonathan C. Stein was appointed as Director at Hess Midstream LP.
  - Action: appointed
  - Role: Director
  source text: In connection with entering into the Purchase Agreement, the Company entered into an offer letter (the “Offer Letter”) with Jonathan C. Stein, pursuant to which Mr. Stein will continue to serve as Chief Executive Officer of the Company and be appointed to the initial Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1789832/000119312526418053/0001193125-26-418053-index.htm
- Executive change
  Barbara F. Harrison resigned as Director at Hess Midstream LP.
  - Action: resigned
  - Role: Director
  source text: The description of the expected resignations of Kristi H. McCarthy, Kristen M. Ghattas, Barbara F. Harrison and Gerbert Schoonman as directors of GP LLC at Closing included under “Amendments to Existing Governing Documents” in Item 1.01 is hereby incorporated by reference.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1789832/000119312526418053/0001193125-26-418053-index.htm
- Executive change
  Kristi H. McCarthy resigned as Director at Hess Midstream LP.
  - Action: resigned
  - Role: Director
  source text: The description of the expected resignations of Kristi H. McCarthy, Kristen M. Ghattas, Barbara F. Harrison and Gerbert Schoonman as directors of GP LLC at Closing included under “Amendments to Existing Governing Documents” in Item 1.01 is hereby incorporated by reference.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1789832/000119312526418053/0001193125-26-418053-index.htm
- Executive change
  Kristen M. Ghattas resigned as Director at Hess Midstream LP.
  - Action: resigned
  - Role: Director
  source text: The description of the expected resignations of Kristi H. McCarthy, Kristen M. Ghattas, Barbara F. Harrison and Gerbert Schoonman as directors of GP LLC at Closing included under “Amendments to Existing Governing Documents” in Item 1.01 is hereby incorporated by reference.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1789832/000119312526418053/0001193125-26-418053-index.htm
- Executive change
  Gerbert Schoonman resigned as Director at Hess Midstream LP.
  - Action: resigned
  - Role: Director
  source text: The description of the expected resignations of Kristi H. McCarthy, Kristen M. Ghattas, Barbara F. Harrison and Gerbert Schoonman as directors of GP LLC at Closing included under “Amendments to Existing Governing Documents” in Item 1.01 is hereby incorporated by reference.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1789832/000119312526418053/0001193125-26-418053-index.htm

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