Hess Midstream to buy Chevron assets and cut shares by 40%
Hess Midstream will buy Chevron’s DJ Basin assets for $200 million, amend contracts and cancel Chevron-held shares, reducing outstanding stock by about 40%.
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what happened
TradingView reports that Hess Midstream LP Class A (NYSE: HESM) plans to purchase Chevron’s DJ Basin midstream assets for $200 million. Hess Midstream will also assume amended long-term contracts covering the Bakken and DJ basins, with lower tariffs and fixed fees. The transaction could close by the end of 2026.
Once shares held by Chevron are canceled, Hess Midstream’s outstanding share count will fall by approximately 40%. The deal will create a new independent midstream company operating across multiple basins. It will be led by Chief Executive Officer Jonathan C. Stein, headquartered in Houston and launched under a new corporate name.
why it matters
For markets, the transaction changes Hess Midstream’s contract base and capital structure while broadening its operations across several basins. TradingView says its summary was generated by AI and may contain inaccuracies, so important details should be checked against original sources.
instruments
sources
- Weekly Recap: Chevron DJ Basin asset purchase and 40% share cut — TradingView, 12 October 2026 at 11:00 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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