- Hess Midstream to acquire Chevron's Colorado midstream assets and buy out Chevron's controlling stake for $200 million cash.
- Deal includes tariff cuts, extended agreements through 2045, and cancellation of roughly 40% of outstanding shares.
- Shares fell over 16% to $32.47.
- Preliminary 2027 guidance: adjusted EBITDA $850M-$950M, adjusted FCF $525M-$625M, capex $125M.
- Bakken throughput expected to decline 5% in 2027 due to reduced Chevron activity.
- Hess Midstream agreed to acquire Chevron's Colorado crude oil and natural gas gathering assets and buy out Chevron's controlling stake for $200 million in cash. The deal includes tariff cuts, extended agreements through 2045, and cancellation of roughly 40% of outstanding shares. Shares fell over 16% to $32.47.
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