Hess Midstream LP Reports Estimated Results for the Second Quarter Of 2022
Hess Midstream LP reported second quarter 2022 net income of $151.8 million, down from $162.0 million year-over-year, with a per Class A share earnings increase to $0.51 from $0.44. The company completed a repurchase of 13.5 million Class B units for $400 million. Adjusted EBITDA stood at $242.6 million while Distributable Cash Flow reached $206.2 million. Hess Midstream continues to target 5% annual distribution growth through 2024 and reaffirms its financial guidance for full-year 2022, projecting revenues to be 95% committed to minimum volume commitments.
- Net income attributable to Hess Midstream increased to $22.0 million, or $0.51 per Class A share.
- Adjusted Free Cash Flow reached $135.7 million, supporting distribution growth.
- Reiterated 5% annual distribution growth target through at least 2024.
- Net income decreased from $162.0 million in Q2 2021 to $151.8 million in Q2 2022.
- 21% drop in crude oil gathering volumes due to severe weather impacts.
- Interest expense increased to $37.4 million, up significantly from $22.9 million.
Second Quarter 2022 Highlights:
-
Completed a previously announced repurchase of an aggregate 13,559,322 Class B units of
Hess Midstream Operations LP from Hess Corporation andGlobal Infrastructure Partners for .$400.0 million -
Net income was
. Net cash provided by operating activities was$151.8 million .$213.2 million -
Net income attributable to
Hess Midstream LP was , or$22.0 million basic earnings per Class A share, after deduction for noncontrolling interests.$0.51 -
Adjusted EBITDA1 was
, Distributable Cash Flow1 was$242.6 million and Adjusted Free Cash Flow1 was$206.2 million .$135.7 million
Guidance:
-
Hess Midstream LP is reiterating its full year 2022 financial guidance, which includes approximately95% minimum volume commitment revenue. -
Hess Midstream LP is reiterating its annual distribution per share growth target of5% through at least 2024 with expected annual distribution coverage greater than 1.4x, including distribution coverage greater than 1.5x in 2022. -
Hess Midstream LP is reaffirming its previously announced expectation of continued growth in Adjusted EBITDA through 2024 and continued Adjusted Free Cash Flow generation sufficient to fully fund growing distributions and provide capital allocation flexibility.
“In the second quarter, we continued to deliver on our operational and development priorities while keeping costs low through our lean-focused philosophy,” said
Hess Midstream’s results contained in this release are consolidated to include the noncontrolling interests in
(1) Adjusted EBITDA, Distributable Cash Flow and Adjusted Free Cash Flow are non‑GAAP measures. Definitions and reconciliations of these non‑GAAP measures to GAAP reporting measures appear in the following pages of this release.
Financial Results
Revenues and other income in the second quarter of 2022 were
Net income for the second quarter of 2022 was
Adjusted EBITDA for the second quarter of 2022 was
In
Operational Highlights
Throughput volumes decreased
Maintenance activities in the second quarter of 2022 were also impacted by severe weather in the Bakken, resulting in lower than expected maintenance costs and deferral of activities to the third quarter of 2022.
Capital Expenditures
Capital expenditures for the second quarter of 2022 totaled
Quarterly Cash Distributions
On
Guidance
|
Year Ending |
|
||
|
|
|
||
|
(Unaudited) |
|
||
Financials (in millions) |
|
|
|
|
Net income |
$ |
610 – 640 |
|
|
Adjusted EBITDA |
$ |
970 – 1,000 |
|
|
Distributable cash flow |
$ |
825 – 855 |
|
|
Expansion capital expenditures |
$ |
|
225 |
|
Maintenance capital expenditures |
$ |
|
10 |
|
Adjusted free cash flow |
$ |
600 – 630 |
|
|
|
Year Ending |
|
|
|
|
|
(Unaudited) |
Throughput volumes |
|
|
Gas gathering - MMcf of natural gas per day |
|
330 – 345 |
Crude oil gathering - MBbl of crude oil per day |
|
95 – 100 |
Gas processing - MMcf of natural gas per day |
|
315 – 330 |
Crude terminals - MBbl of crude oil per day |
|
103 – 108 |
Water gathering - MBbl of water per day |
|
70 – 75 |
Investor Webcast
About
Reconciliation of
In addition to our financial information presented in accordance with
|
|
Second Quarter |
|
|||||
|
|
(unaudited) |
|
|||||
|
|
2022 |
|
|
2021 |
|
||
|
|
|
|
|
|
|
||
(in millions, except ratio and per-share data) |
|
|
|
|
|
|
||
Reconciliation of Adjusted EBITDA and
|
|
|
|
|
|
|
||
Net income |
|
$ |
151.8 |
|
|
$ |
162.0 |
|
Plus: |
|
|
|
|
|
|
||
Depreciation expense |
|
|
45.0 |
|
|
|
40.4 |
|
Proportional share of equity affiliates' depreciation |
|
|
1.3 |
|
|
|
1.3 |
|
Interest expense, net |
|
|
37.4 |
|
|
|
22.9 |
|
Income tax expense (benefit) |
|
|
7.1 |
|
|
|
3.6 |
|
Adjusted EBITDA |
|
|
242.6 |
|
|
|
230.2 |
|
Less: |
|
|
|
|
|
|
||
Interest, net(1) |
|
|
35.2 |
|
|
|
21.2 |
|
Maintenance capital expenditures |
|
|
1.2 |
|
|
|
1.5 |
|
Distributable cash flow |
|
$ |
206.2 |
|
|
$ |
207.5 |
|
|
|
|
|
|
|
|
||
Reconciliation of Adjusted EBITDA, Distributable Cash Flow and Adjusted Free Cash Flow to net cash provided by operating activities: |
|
|
|
|
|
|
||
Net cash provided by operating activities |
|
$ |
213.2 |
|
|
$ |
224.6 |
|
Changes in assets and liabilities |
|
|
(6.3 |
) |
|
|
(15.5 |
) |
Amortization of deferred financing costs |
|
|
(2.2 |
) |
|
|
(1.7 |
) |
Proportional share of equity affiliates' depreciation |
|
|
1.3 |
|
|
|
1.3 |
|
Interest expense, net |
|
|
37.4 |
|
|
|
22.9 |
|
Earnings from equity investments |
|
|
1.0 |
|
|
|
2.9 |
|
Distribution from equity investments |
|
|
(1.4 |
) |
|
|
(4.0 |
) |
Other |
|
|
(0.4 |
) |
|
|
(0.3 |
) |
Adjusted EBITDA |
|
$ |
242.6 |
|
|
$ |
230.2 |
|
Less: |
|
|
|
|
|
|
||
Interest, net(1) |
|
|
35.2 |
|
|
|
21.2 |
|
Maintenance capital expenditures |
|
|
1.2 |
|
|
|
1.5 |
|
Distributable cash flow |
|
$ |
206.2 |
|
|
$ |
207.5 |
|
Less: |
|
|
|
|
|
|
||
Expansion capital expenditures |
|
|
70.5 |
|
|
|
44.9 |
|
Adjusted free cash flow |
|
$ |
135.7 |
|
|
$ |
162.6 |
|
Distributed cash flow |
|
|
133.3 |
|
|
|
143.5 |
|
Distribution coverage ratio |
|
|
1.5 |
x |
|
|
1.4 |
x |
Distribution per Class A share |
|
$ |
0.5559 |
|
|
$ |
0.5042 |
|
(1) Excludes amortization of deferred financing costs. |
|
Guidance |
|
||
|
Year Ending |
|
||
|
|
|
||
|
(Unaudited) |
|
||
(in millions) |
|
|
|
|
Reconciliation of Adjusted EBITDA, Distributable Cash Flow
|
|
|
|
|
Net income |
$ |
610 – 640 |
|
|
Plus: |
|
|
|
|
Depreciation expense* |
|
|
190 |
|
Interest expense, net |
|
|
145 |
|
Income tax expense |
|
|
25 |
|
Adjusted EBITDA |
$ |
970 – 1,000 |
|
|
Less: |
|
|
|
|
Interest, net, and maintenance capital expenditures |
|
|
145 |
|
Distributable cash flow |
$ |
825 – 855 |
|
|
Less: |
|
|
|
|
Expansion capital expenditures |
|
|
225 |
|
Adjusted free cash flow |
$ |
600 – 630 |
|
|
*Includes proportional share of equity affiliates' depreciation |
Cautionary Note Regarding Forward-looking Information
This press release contains “forward-looking statements” within the meaning of
Forward-looking statements are based on our current understanding, assessments, estimates and projections of relevant factors and reasonable assumptions about the future. Forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from our historical experience and our current projections or expectations of future results expressed or implied by these forward-looking statements. The following important factors could cause actual results to differ materially from those in our forward-looking statements: the direct and indirect effects of the COVID-19 global pandemic and other public health developments on our business and those of our business partners, suppliers and customers, including
As and when made, we believe that our forward-looking statements are reasonable. However, given these risks and uncertainties, caution should be taken not to place undue reliance on any such forward-looking statements since such statements speak only as of the date when made and there can be no assurance that such forward-looking statements will occur and actual results may differ materially from those contained in any forward-looking statement we make. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.
SUPPLEMENTAL FINANCIAL DATA (UNAUDITED) (IN MILLIONS) |
||||||||||||
|
|
Second |
|
|
Second |
|
|
First |
|
|||
|
|
Quarter |
|
|
Quarter |
|
|
Quarter |
|
|||
|
|
2022 |
|
|
2021 |
|
|
2022 |
|
|||
Statement of operations |
|
|
|
|
|
|
|
|
|
|||
Revenues |
|
|
|
|
|
|
|
|
|
|||
Affiliate services |
|
$ |
313.0 |
|
|
$ |
294.8 |
|
|
$ |
312.1 |
|
Other income |
|
|
0.4 |
|
|
|
- |
|
|
|
0.3 |
|
Total revenues |
|
|
313.4 |
|
|
|
294.8 |
|
|
|
312.4 |
|
Costs and expenses |
|
|
|
|
|
|
|
|
|
|||
Operating and maintenance expenses (exclusive of depreciation shown separately below) |
|
|
67.8 |
|
|
|
63.6 |
|
|
|
66.5 |
|
Depreciation expense |
|
|
45.0 |
|
|
|
40.4 |
|
|
|
44.4 |
|
General and administrative expenses |
|
|
5.3 |
|
|
|
5.2 |
|
|
|
6.0 |
|
Total costs and expenses |
|
|
118.1 |
|
|
|
109.2 |
|
|
|
116.9 |
|
Income from operations |
|
|
195.3 |
|
|
|
185.6 |
|
|
|
195.5 |
|
Income from equity investments |
|
|
1.0 |
|
|
|
2.9 |
|
|
|
0.4 |
|
Interest expense, net |
|
|
37.4 |
|
|
|
22.9 |
|
|
|
31.3 |
|
Income before income tax expense (benefit) |
|
|
158.9 |
|
|
|
165.6 |
|
|
|
164.6 |
|
Income tax expense (benefit) |
|
|
7.1 |
|
|
|
3.6 |
|
|
|
5.0 |
|
Net income |
|
$ |
151.8 |
|
|
$ |
162.0 |
|
|
$ |
159.6 |
|
Less: Net income attributable to noncontrolling interest |
|
|
129.8 |
|
|
|
151.0 |
|
|
|
142.7 |
|
Net income attributable to |
|
$ |
22.0 |
|
|
$ |
11.0 |
|
|
$ |
16.9 |
|
|
|
|
|
|
|
|
|
|
|
|||
Net income attributable to |
|
|
|
|
|
|
|
|
|
|||
Basic |
|
$ |
0.51 |
|
|
$ |
0.44 |
|
|
$ |
0.50 |
|
Diluted |
|
$ |
0.50 |
|
|
$ |
0.44 |
|
|
$ |
0.49 |
|
Weighted average Class A shares outstanding |
|
|
|
|
|
|
|
|
|
|||
Basic |
|
|
43.7 |
|
|
|
25.0 |
|
|
|
33.7 |
|
Diluted |
|
|
43.7 |
|
|
|
25.1 |
|
|
|
33.8 |
|
SUPPLEMENTAL FINANCIAL DATA (UNAUDITED) (IN MILLIONS) |
||||||||
|
|
Six Months Ended |
|
|||||
|
|
2022 |
|
|
2021 |
|
||
Statement of operations |
|
|
|
|
|
|
||
Revenues |
|
|
|
|
|
|
||
Affiliate services |
|
$ |
625.1 |
|
|
$ |
583.6 |
|
Other income |
|
|
0.7 |
|
|
|
- |
|
Total revenues |
|
|
625.8 |
|
|
|
583.6 |
|
Costs and expenses |
|
|
|
|
|
|
||
Operating and maintenance expenses (exclusive of depreciation shown separately below) |
|
|
134.3 |
|
|
|
123.4 |
|
Depreciation expense |
|
|
89.4 |
|
|
|
80.6 |
|
General and administrative expenses |
|
|
11.3 |
|
|
|
11.5 |
|
Total costs and expenses |
|
|
235.0 |
|
|
|
215.5 |
|
Income from operations |
|
|
390.8 |
|
|
|
368.1 |
|
Income from equity investments |
|
|
1.4 |
|
|
|
5.6 |
|
Interest expense, net |
|
|
68.7 |
|
|
|
46.0 |
|
Income before income tax expense (benefit) |
|
|
323.5 |
|
|
|
327.7 |
|
Income tax expense (benefit) |
|
|
12.1 |
|
|
|
6.1 |
|
Net income |
|
$ |
311.4 |
|
|
$ |
321.6 |
|
Less: Net income attributable to noncontrolling interest |
|
|
272.5 |
|
|
|
302.0 |
|
Net income attributable to |
|
$ |
38.9 |
|
|
$ |
19.6 |
|
|
|
|
|
|
|
|
||
Net income attributable to |
|
|
|
|
|
|
||
Basic |
|
$ |
1.01 |
|
|
$ |
0.89 |
|
Diluted |
|
$ |
0.99 |
|
|
$ |
0.87 |
|
Weighted average Class A shares outstanding |
|
|
|
|
|
|
||
Basic |
|
|
38.7 |
|
|
|
22.2 |
|
Diluted |
|
|
38.8 |
|
|
|
22.3 |
|
SUPPLEMENTAL FINANCIAL DATA (UNAUDITED) (IN MILLIONS) |
||||||||||||||||||||
|
|
Second Quarter 2022 |
|
|||||||||||||||||
|
|
Gathering |
|
|
Processing
|
|
|
Terminaling
|
|
|
Interest
|
|
|
Total |
|
|||||
Statement of operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Affiliate services |
|
$ |
166.2 |
|
|
$ |
116.5 |
|
|
$ |
30.3 |
|
|
$ |
- |
|
|
$ |
313.0 |
|
Other income |
|
|
- |
|
|
|
- |
|
|
|
0.4 |
|
|
|
- |
|
|
|
0.4 |
|
Total revenues |
|
|
166.2 |
|
|
|
116.5 |
|
|
|
30.7 |
|
|
|
- |
|
|
|
313.4 |
|
Costs and expenses |
|
. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Operating and maintenance expenses (exclusive of depreciation shown separately below) |
|
|
41.8 |
|
|
|
20.8 |
|
|
|
5.2 |
|
|
|
- |
|
|
|
67.8 |
|
Depreciation expense |
|
|
26.6 |
|
|
|
14.4 |
|
|
|
4.0 |
|
|
|
- |
|
|
|
45.0 |
|
General and administrative expenses |
|
|
2.6 |
|
|
|
1.0 |
|
|
|
0.2 |
|
|
|
1.5 |
|
|
|
5.3 |
|
Total costs and expenses |
|
|
71.0 |
|
|
|
36.2 |
|
|
|
9.4 |
|
|
|
1.5 |
|
|
|
118.1 |
|
Income (loss) from operations |
|
|
95.2 |
|
|
|
80.3 |
|
|
|
21.3 |
|
|
|
(1.5 |
) |
|
|
195.3 |
|
Income from equity investments |
|
|
- |
|
|
|
1.0 |
|
|
|
- |
|
|
|
- |
|
|
|
1.0 |
|
Interest expense, net |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
37.4 |
|
|
|
37.4 |
|
Income before income tax expense (benefit) |
|
|
95.2 |
|
|
|
81.3 |
|
|
|
21.3 |
|
|
|
(38.9 |
) |
|
|
158.9 |
|
Income tax expense (benefit) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
7.1 |
|
|
|
7.1 |
|
Net income (loss) |
|
|
95.2 |
|
|
|
81.3 |
|
|
|
21.3 |
|
|
|
(46.0 |
) |
|
|
151.8 |
|
Less: Net income (loss) attributable to noncontrolling interest |
|
|
77.6 |
|
|
|
66.3 |
|
|
|
17.5 |
|
|
|
(31.6 |
) |
|
|
129.8 |
|
Net income (loss) attributable to |
|
$ |
17.6 |
|
|
$ |
15.0 |
|
|
$ |
3.8 |
|
|
$ |
(14.4 |
) |
|
$ |
22.0 |
|
|
|
Second Quarter 2021 |
|
|||||||||||||||||
|
|
Gathering |
|
|
Processing
|
|
|
Terminaling
|
|
|
Interest
|
|
|
Total |
|
|||||
Statement of operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Affiliate services |
|
$ |
154.6 |
|
|
$ |
105.3 |
|
|
$ |
34.9 |
|
|
$ |
- |
|
|
$ |
294.8 |
|
Total revenues |
|
|
154.6 |
|
|
|
105.3 |
|
|
|
34.9 |
|
|
|
- |
|
|
|
294.8 |
|
Costs and expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Operating and maintenance expenses (exclusive of depreciation shown separately below) |
|
|
34.8 |
|
|
|
24.2 |
|
|
|
4.6 |
|
|
|
- |
|
|
|
63.6 |
|
Depreciation expense |
|
|
25.2 |
|
|
|
11.2 |
|
|
|
4.0 |
|
|
|
- |
|
|
|
40.4 |
|
General and administrative expenses |
|
|
2.2 |
|
|
|
1.2 |
|
|
|
0.2 |
|
|
|
1.6 |
|
|
|
5.2 |
|
Total costs and expenses |
|
|
62.2 |
|
|
|
36.6 |
|
|
|
8.8 |
|
|
|
1.6 |
|
|
|
109.2 |
|
Income (loss) from operations |
|
|
92.4 |
|
|
|
68.7 |
|
|
|
26.1 |
|
|
|
(1.6 |
) |
|
|
185.6 |
|
Income from equity investments |
|
|
- |
|
|
|
2.9 |
|
|
|
- |
|
|
|
- |
|
|
|
2.9 |
|
Interest expense, net |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
22.9 |
|
|
|
22.9 |
|
Income before income tax expense (benefit) |
|
|
92.4 |
|
|
|
71.6 |
|
|
|
26.1 |
|
|
|
(24.5 |
) |
|
|
165.6 |
|
Income tax expense (benefit) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
3.6 |
|
|
|
3.6 |
|
Net income (loss) |
|
|
92.4 |
|
|
|
71.6 |
|
|
|
26.1 |
|
|
|
(28.1 |
) |
|
|
162.0 |
|
Less: Net income (loss) attributable to noncontrolling interest |
|
|
84.3 |
|
|
|
65.3 |
|
|
|
23.7 |
|
|
|
(22.3 |
) |
|
|
151.0 |
|
Net income (loss) attributable to |
|
$ |
8.1 |
|
|
$ |
6.3 |
|
|
$ |
2.4 |
|
|
$ |
(5.8 |
) |
|
$ |
11.0 |
|
SUPPLEMENTAL FINANCIAL DATA (UNAUDITED) (IN MILLIONS) |
||||||||||||||||||||
|
|
First Quarter 2022 |
|
|||||||||||||||||
|
|
Gathering |
|
|
Processing
|
|
|
Terminaling
|
|
|
Interest
|
|
|
Total |
|
|||||
Statement of operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Affiliate services |
|
$ |
163.6 |
|
|
$ |
113.8 |
|
|
$ |
34.7 |
|
|
$ |
- |
|
|
$ |
312.1 |
|
Other income |
|
|
- |
|
|
|
- |
|
|
|
0.3 |
|
|
|
|
|
|
0.3 |
|
|
Total revenues |
|
|
163.6 |
|
|
|
113.8 |
|
|
|
35.0 |
|
|
|
- |
|
|
|
312.4 |
|
Costs and expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Operating and maintenance expenses (exclusive of depreciation shown separately below) |
|
|
37.0 |
|
|
|
20.7 |
|
|
|
8.8 |
|
|
|
- |
|
|
|
66.5 |
|
Depreciation expense |
|
|
25.9 |
|
|
|
14.4 |
|
|
|
4.1 |
|
|
|
- |
|
|
|
44.4 |
|
General and administrative expenses |
|
|
2.5 |
|
|
|
1.0 |
|
|
|
0.2 |
|
|
|
2.3 |
|
|
|
6.0 |
|
Total costs and expenses |
|
|
65.4 |
|
|
|
36.1 |
|
|
|
13.1 |
|
|
|
2.3 |
|
|
|
116.9 |
|
Income (loss) from operations |
|
|
98.2 |
|
|
|
77.7 |
|
|
|
21.9 |
|
|
|
(2.3 |
) |
|
|
195.5 |
|
Income from equity investments |
|
|
- |
|
|
|
0.4 |
|
|
|
- |
|
|
|
- |
|
|
|
0.4 |
|
Interest expense, net |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
31.3 |
|
|
|
31.3 |
|
Income before income tax expense (benefit) |
|
|
98.2 |
|
|
|
78.1 |
|
|
|
21.9 |
|
|
|
(33.6 |
) |
|
|
164.6 |
|
Income tax expense (benefit) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
5.0 |
|
|
|
5.0 |
|
Net income (loss) |
|
|
98.2 |
|
|
|
78.1 |
|
|
|
21.9 |
|
|
|
(38.6 |
) |
|
|
159.6 |
|
Less: Net income (loss) attributable to noncontrolling interest |
|
|
85.2 |
|
|
|
67.7 |
|
|
|
19.0 |
|
|
|
(29.2 |
) |
|
|
142.7 |
|
Net income (loss) attributable to |
|
$ |
13.0 |
|
|
$ |
10.4 |
|
|
$ |
2.9 |
|
|
$ |
(9.4 |
) |
|
$ |
16.9 |
|
SUPPLEMENTAL OPERATING DATA (UNAUDITED) (IN THOUSANDS) |
||||||||||||
|
|
Second |
|
|
Second |
|
|
First |
|
|||
|
|
Quarter |
|
|
Quarter |
|
|
Quarter |
|
|||
|
|
2022 |
|
|
2021 |
|
|
2022 |
|
|||
Throughput volumes |
|
|
|
|
|
|
|
|
|
|||
Gas gathering - Mcf of natural gas per day |
|
|
309 |
|
|
|
325 |
|
|
|
326 |
|
Crude oil gathering - bopd |
|
|
88 |
|
|
|
111 |
|
|
|
101 |
|
Gas processing - Mcf of natural gas per day |
|
|
292 |
|
|
|
304 |
|
|
|
316 |
|
Crude terminals - bopd |
|
|
93 |
|
|
|
116 |
|
|
|
108 |
|
NGL loading - blpd |
|
|
9 |
|
|
|
17 |
|
|
|
14 |
|
Water gathering - blpd |
|
|
65 |
|
|
|
74 |
|
|
|
72 |
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
Six Months Ended
|
|
||||||
|
|
|
|
|
2022 |
|
|
2021 |
|
|||
Throughput volumes |
|
|
|
|
|
|
|
|
|
|||
Gas gathering - Mcf of natural gas per day |
|
|
|
|
|
318 |
|
|
|
321 |
|
|
Crude oil gathering - bopd |
|
|
|
|
|
95 |
|
|
|
114 |
|
|
Gas processing - Mcf of natural gas per day |
|
|
|
|
|
304 |
|
|
|
303 |
|
|
Crude terminals - bopd |
|
|
|
|
|
100 |
|
|
|
121 |
|
|
NGL loading - blpd |
|
|
|
|
|
12 |
|
|
|
15 |
|
|
Water gathering - blpd |
|
|
|
|
|
68 |
|
|
|
72 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20220727005112/en/
For
Investor Contact:
(212) 536-8244
Media Contact:
(713) 496-6076
Source:
FAQ
What were the financial highlights for Hess Midstream (HESM) in Q2 2022?
How did Hess Midstream's earnings per share change in the second quarter of 2022?
What is the distribution growth target for Hess Midstream (HESM) through 2024?
What caused the decrease in throughput volumes for Hess Midstream (HESM) in Q2 2022?