Market News / Story
Hess Midstream to Acquire Chevron DJ Basin Midstream Assets; Pays $200M and Resets Bakken Contracts
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Hess Midstream signed a Purchase and Sale Agreement with Chevron affiliates to acquire Chevron's DJ Basin midstream platform and consolidate control of its GP entities, for $200 million in cash plus CMH working capital and a right enabling new Bakken commercial agreements. At closing, the parties will implement long-term Bakken gathering, processing and water services contracts, a two-year Transition Services Agreement, and an amended secondment framework of up to 24…