secwatch.observer — SEC 8-K summary
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Issuer:     Hess Midstream LP (HESM)
CIK:        0001789832
Form:       8-K
Filed at:   2026-10-08T21:06:47+00:00
Accession:  0001193125-26-418053
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.95
Item codes: 1.01, 5.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1789832/000119312526418053/0001193125-26-418053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1789832/000119312526418053/d401552d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-418053

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