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via finance.yahoo.comBusiness & Companies

Hess Midstream pressured after Chevron deal on Bakken assets

FROM THE WIRE · FINANCE.YAHOO.COM

Hess Midstream (HESM) is back in focus after Chevron agreed to transfer its ownership interests and DJ Basin midstream assets in exchange for revised Bakken contracts and a US$200 million cash payment. The Hess Midstream share price has come under pressure since the Chevron…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishChevron-Hess Midstream deal involves asset transfer and contract revision, causing stock decline but relevant for midstream sector.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Chevron will transfer its ownership interests and DJ Basin midstream assets for revised Bakken contracts and $200 million cash.
  2. 02HESM fell 14.63% in 1 day and 17.24% over 30 days following the announcement.
  3. 03Despite recent decline, total shareholder return remains positive at 7.51% over 1 year and 84.22% over 5 years.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Hess Midstream LPHESMStock33.81 USD-0.15%today +2.36%Negative Chevron CorporationCVXStock210.88 USD+0.11%today +2.79%Neutral
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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