Hess Midstream LP Reports Estimated Results for the Third Quarter of 2022
Hess Midstream LP reported a strong third quarter of 2022, achieving a net income of $159.4 million and $0.53 earnings per Class A share, marking an increase from $131.1 million and $0.39 in Q3 2021. Adjusted EBITDA reached $253.6 million, while Distributable Cash Flow was $214.8 million. Throughput volumes rose significantly: 24% for gas processing and 20% for gas gathering, attributed to increased drilling activity. The company has raised its full-year guidance for net income to approximately $630 million and Adjusted EBITDA to $990 million, maintaining a target of 5% growth in annual distributions through 2024.
- Net income of $159.4 million, up from $131.1 million YoY.
- Earnings per Class A share increased to $0.53 from $0.39 YoY.
- Adjusted EBITDA of $253.6 million.
- Distributable Cash Flow of $214.8 million.
- Raised full-year net income guidance to approximately $630 million.
- Raised full-year Adjusted EBITDA guidance to approximately $990 million.
- Throughput volumes increased significantly: 24% for gas processing, 20% for gas gathering, and 12% for water gathering.
- Annual distribution growth target maintained at 5% through at least 2024.
- Interest expense increased to $39.9 million from $28.0 million YoY due to new debt issuances.
- 4% decrease in crude oil gathering throughput volumes.
Third Quarter 2022 Highlights:
-
Hess Midstream Operations LP extended the maturity of its credit facilities through$1.4 billion July 2027 . -
Net income was
. Net cash provided by operating activities was$159.4 million .$234.7 million -
Net income attributable to
Hess Midstream LP was , or$23.2 million basic earnings per Class A share, after deduction for noncontrolling interests.$0.53 -
Adjusted EBITDA1 was
, Distributable Cash Flow1 was$253.6 million and Adjusted Free Cash Flow1 was$214.8 million .$155.6 million -
Throughput volumes increased
24% for gas processing,20% for gas gathering, and12% for water gathering compared with the prior-year quarter primarily due to increasedHess drilling activity, higher gas capture and higher gas processing volumes in the third quarter of 2022 following the planned turnaround at the Tioga Gas Plant in the third quarter of 2021.
Guidance:
-
Following a strong volume recovery in the third quarter of 2022,
Hess Midstream LP is raising its full year 2022 guidance for net income and Adjusted EBITDA, compared with the midpoint of the prior guidance range; the updated net income guidance is approximately and the updated Adjusted EBITDA guidance is approximately$630 million .$990 million -
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.
“We delivered a solid quarter driven by a substantial recovery in
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 third quarter of 2022 were
Net income for the third quarter of 2022 was
Adjusted EBITDA for the third quarter of 2022 was
In
Operational Highlights
In
Throughput volumes increased
Capital Expenditures
Capital expenditures for the third quarter of 2022 totaled
Quarterly Cash Distributions
On
Guidance
|
Year Ending |
|
|
|
|
|
(Unaudited) |
|
Financials (in millions) |
|
|
Net income |
$ |
~630 |
Adjusted EBITDA |
$ |
~990 |
Distributable cash flow |
$ |
~840 |
Expansion capital expenditures |
$ |
~225 |
Maintenance capital expenditures |
$ |
~10 |
Adjusted free cash flow |
$ |
~615 |
|
|
Year Ending |
|
|
|
|
|
(Unaudited) |
Throughput volumes |
|
|
Gas gathering - MMcf of natural gas per day |
|
~345 |
Crude oil gathering - MBbl of crude oil per day |
|
~98 |
Gas processing - MMcf of natural gas per day |
|
~330 |
Crude terminals - MBbl of crude oil per day |
|
~105 |
Water gathering - MBbl of water per day |
|
~75 |
Investor Webcast
About
Reconciliation of
In addition to our financial information presented in accordance with
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Third Quarter |
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(unaudited) |
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2022 |
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2021 |
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(in millions, except ratio and per-share data) |
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Reconciliation of Adjusted EBITDA and Distributable Cash Flow to net income: |
|
|
|
|
|
|
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Net income |
|
$ |
159.4 |
|
|
$ |
131.1 |
|
Plus: |
|
|
|
|
|
|
||
Depreciation expense |
|
|
45.5 |
|
|
|
41.5 |
|
Proportional share of equity affiliates' depreciation |
|
|
1.3 |
|
|
|
1.3 |
|
Interest expense, net |
|
|
39.9 |
|
|
|
28.0 |
|
Income tax expense (benefit) |
|
|
7.5 |
|
|
|
3.1 |
|
Adjusted EBITDA |
|
|
253.6 |
|
|
|
205.0 |
|
Less: |
|
|
|
|
|
|
||
Interest, net(1) |
|
|
37.4 |
|
|
|
26.1 |
|
Maintenance capital expenditures |
|
|
1.4 |
|
|
|
7.4 |
|
Distributable cash flow |
|
$ |
214.8 |
|
|
$ |
171.5 |
|
|
|
|
|
|
|
|
||
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 |
|
$ |
234.7 |
|
|
$ |
182.0 |
|
Changes in assets and liabilities |
|
|
(20.9 |
) |
|
|
(3.9 |
) |
Amortization of deferred financing costs |
|
|
(2.4 |
) |
|
|
(1.9 |
) |
Proportional share of equity affiliates' depreciation |
|
|
1.3 |
|
|
|
1.3 |
|
Interest expense, net |
|
|
39.9 |
|
|
|
28.0 |
|
Earnings from equity investments |
|
|
2.8 |
|
|
|
3.0 |
|
Distribution from equity investments |
|
|
(1.4 |
) |
|
|
(3.1 |
) |
Other |
|
|
(0.4 |
) |
|
|
(0.4 |
) |
Adjusted EBITDA |
|
$ |
253.6 |
|
|
$ |
205.0 |
|
Less: |
|
|
|
|
|
|
||
Interest, net(1) |
|
|
37.4 |
|
|
|
26.1 |
|
Maintenance capital expenditures |
|
|
1.4 |
|
|
|
7.4 |
|
Distributable cash flow |
|
$ |
214.8 |
|
|
$ |
171.5 |
|
Less: |
|
|
|
|
|
|
||
Expansion capital expenditures |
|
|
59.2 |
|
|
|
51.7 |
|
Adjusted free cash flow |
|
$ |
155.6 |
|
|
$ |
119.8 |
|
Distributed cash flow |
|
|
135.0 |
|
|
|
129.3 |
|
Distribution coverage ratio |
|
|
1.6 |
x |
|
|
1.3 |
x |
Distribution per Class A share |
|
$ |
0.5627 |
|
|
$ |
0.5104 |
|
(1) Excludes amortization of deferred financing costs. |
|
Guidance |
|
||
|
Year Ending |
|
||
|
|
|
||
|
(Unaudited) |
|
||
(in millions) |
|
|
|
|
Reconciliation of Adjusted EBITDA, Distributable Cash Flow and Adjusted Free Cash Flow to net income: |
|
|
|
|
Net income |
$ |
630 |
|
|
Plus: |
|
|
|
|
Depreciation expense(1) |
|
|
190 |
|
Interest expense, net |
|
|
145 |
|
Income tax expense |
|
|
25 |
|
Adjusted EBITDA |
$ |
|
990 |
|
Less: |
|
|
|
|
Interest, net(2), and maintenance capital expenditures |
|
|
150 |
|
Distributable cash flow |
$ |
|
840 |
|
Less: |
|
|
|
|
Expansion capital expenditures |
|
|
225 |
|
Adjusted free cash flow |
$ |
|
615 |
|
|
|
|
|
|
(1) Includes proportional share of equity affiliates' depreciation |
|
|
|
|
(2) Excludes amortization of deferred financing costs. |
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)
|
|
Third |
|
|
Third |
|
|
Second |
|
|||
|
|
Quarter |
|
|
Quarter |
|
|
Quarter |
|
|||
|
|
2022 |
|
|
2021 |
|
|
2022 |
|
|||
Statement of operations |
|
|
|
|
|
|
|
|
|
|||
Revenues |
|
|
|
|
|
|
|
|
|
|||
Affiliate services |
|
$ |
334.2 |
|
|
$ |
303.9 |
|
|
$ |
313.0 |
|
Other income |
|
|
0.6 |
|
|
|
- |
|
|
|
0.4 |
|
Total revenues |
|
|
334.8 |
|
|
|
303.9 |
|
|
|
313.4 |
|
Costs and expenses |
|
|
|
|
|
|
|
|
|
|||
Operating and maintenance expenses (exclusive of depreciation shown separately below) |
|
|
79.6 |
|
|
|
98.1 |
|
|
|
67.8 |
|
Depreciation expense |
|
|
45.5 |
|
|
|
41.5 |
|
|
|
45.0 |
|
General and administrative expenses |
|
|
5.7 |
|
|
|
5.1 |
|
|
|
5.3 |
|
Total costs and expenses |
|
|
130.8 |
|
|
|
144.7 |
|
|
|
118.1 |
|
Income from operations |
|
|
204.0 |
|
|
|
159.2 |
|
|
|
195.3 |
|
Income from equity investments |
|
|
2.8 |
|
|
|
3.0 |
|
|
|
1.0 |
|
Interest expense, net |
|
|
39.9 |
|
|
|
28.0 |
|
|
|
37.4 |
|
Income before income tax expense (benefit) |
|
|
166.9 |
|
|
|
134.2 |
|
|
|
158.9 |
|
Income tax expense (benefit) |
|
|
7.5 |
|
|
|
3.1 |
|
|
|
7.1 |
|
Net income |
|
$ |
159.4 |
|
|
$ |
131.1 |
|
|
$ |
151.8 |
|
Less: Net income attributable to noncontrolling interest |
|
|
136.2 |
|
|
|
121.2 |
|
|
|
129.8 |
|
Net income attributable to |
|
$ |
23.2 |
|
|
$ |
9.9 |
|
|
$ |
22.0 |
|
|
|
|
|
|
|
|
|
|
|
|||
Net income attributable to |
|
|
|
|
|
|
|
|
|
|||
Basic |
|
$ |
0.53 |
|
|
$ |
0.39 |
|
|
$ |
0.51 |
|
Diluted |
|
$ |
0.53 |
|
|
$ |
0.38 |
|
|
$ |
0.50 |
|
Weighted average Class A shares outstanding |
|
|
|
|
|
|
|
|
|
|||
Basic |
|
|
44.0 |
|
|
|
25.0 |
|
|
|
43.7 |
|
Diluted |
|
|
44.1 |
|
|
|
25.1 |
|
|
|
43.7 |
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
SUPPLEMENTAL FINANCIAL DATA (UNAUDITED)
(IN MILLIONS)
|
|
Nine Months Ended |
|
|||||
|
|
2022 |
|
|
2021 |
|
||
Statement of operations |
|
|
|
|
|
|
||
Revenues |
|
|
|
|
|
|
||
Affiliate services |
|
$ |
959.3 |
|
|
$ |
887.5 |
|
Other income |
|
|
1.3 |
|
|
|
- |
|
Total revenues |
|
|
960.6 |
|
|
|
887.5 |
|
Costs and expenses |
|
|
|
|
|
|
||
Operating and maintenance expenses (exclusive of depreciation shown separately below) |
|
|
213.9 |
|
|
|
221.5 |
|
Depreciation expense |
|
|
134.9 |
|
|
|
122.1 |
|
General and administrative expenses |
|
|
17.0 |
|
|
|
16.6 |
|
Total costs and expenses |
|
|
365.8 |
|
|
|
360.2 |
|
Income from operations |
|
|
594.8 |
|
|
|
527.3 |
|
Income from equity investments |
|
|
4.2 |
|
|
|
8.6 |
|
Interest expense, net |
|
|
108.6 |
|
|
|
74.0 |
|
Income before income tax expense (benefit) |
|
|
490.4 |
|
|
|
461.9 |
|
Income tax expense (benefit) |
|
|
19.6 |
|
|
|
9.2 |
|
Net income |
|
$ |
470.8 |
|
|
$ |
452.7 |
|
Less: Net income attributable to noncontrolling interest |
|
|
408.7 |
|
|
|
423.2 |
|
Net income attributable to |
|
$ |
62.1 |
|
|
$ |
29.5 |
|
|
|
|
|
|
|
|
||
Net income attributable to |
|
|
|
|
|
|
||
Basic: |
|
$ |
1.54 |
|
|
$ |
1.27 |
|
Diluted: |
|
$ |
1.52 |
|
|
$ |
1.25 |
|
Weighted average Class A shares outstanding |
|
|
|
|
|
|
||
Basic |
|
|
40.5 |
|
|
|
23.1 |
|
Diluted |
|
|
40.5 |
|
|
|
23.2 |
|
SUPPLEMENTAL FINANCIAL DATA (UNAUDITED)
(IN MILLIONS)
|
|
Third Quarter 2022 |
|
|||||||||||||||||
|
|
Gathering |
|
|
Processing
|
|
|
Terminaling
|
|
|
Interest
|
|
|
Total |
|
|||||
Statement of operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Affiliate services |
|
$ |
182.0 |
|
|
$ |
121.7 |
|
|
$ |
30.5 |
|
|
$ |
- |
|
|
$ |
334.2 |
|
Other income |
|
|
- |
|
|
|
- |
|
|
|
0.6 |
|
|
|
- |
|
|
|
0.6 |
|
Total revenues |
|
|
182.0 |
|
|
|
121.7 |
|
|
|
31.1 |
|
|
|
- |
|
|
|
334.8 |
|
Costs and expenses |
|
. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Operating and maintenance expenses (exclusive of depreciation shown separately below) |
|
|
48.9 |
|
|
|
25.1 |
|
|
|
5.6 |
|
|
|
- |
|
|
|
79.6 |
|
Depreciation expense |
|
|
26.9 |
|
|
|
14.5 |
|
|
|
4.1 |
|
|
|
- |
|
|
|
45.5 |
|
General and administrative expenses |
|
|
2.8 |
|
|
|
1.0 |
|
|
|
0.2 |
|
|
|
1.7 |
|
|
|
5.7 |
|
Total costs and expenses |
|
|
78.6 |
|
|
|
40.6 |
|
|
|
9.9 |
|
|
|
1.7 |
|
|
|
130.8 |
|
Income (loss) from operations |
|
|
103.4 |
|
|
|
81.1 |
|
|
|
21.2 |
|
|
|
(1.7 |
) |
|
|
204.0 |
|
Income from equity investments |
|
|
- |
|
|
|
2.8 |
|
|
|
- |
|
|
|
- |
|
|
|
2.8 |
|
Interest expense, net |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
39.9 |
|
|
|
39.9 |
|
Income before income tax expense (benefit) |
|
|
103.4 |
|
|
|
83.9 |
|
|
|
21.2 |
|
|
|
(41.6 |
) |
|
|
166.9 |
|
Income tax expense (benefit) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
7.5 |
|
|
|
7.5 |
|
Net income (loss) |
|
|
103.4 |
|
|
|
83.9 |
|
|
|
21.2 |
|
|
|
(49.1 |
) |
|
|
159.4 |
|
Less: Net income (loss) attributable to noncontrolling interest |
|
|
84.5 |
|
|
|
68.7 |
|
|
|
17.2 |
|
|
|
(34.2 |
) |
|
|
136.2 |
|
Net income (loss) attributable to |
|
$ |
18.9 |
|
|
$ |
15.2 |
|
|
$ |
4.0 |
|
|
$ |
(14.9 |
) |
|
$ |
23.2 |
|
|
|
Third Quarter 2021 |
|
|||||||||||||||||
|
|
Gathering |
|
|
Processing
|
|
|
Terminaling
|
|
|
Interest
|
|
|
Total |
|
|||||
Statement of operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Affiliate services |
|
$ |
157.3 |
|
|
$ |
111.1 |
|
|
$ |
35.5 |
|
|
$ |
- |
|
|
$ |
303.9 |
|
Total revenues |
|
|
157.3 |
|
|
|
111.1 |
|
|
|
35.5 |
|
|
|
- |
|
|
|
303.9 |
|
Costs and expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
Operating and maintenance expenses (exclusive of depreciation shown separately below) |
|
|
38.1 |
|
|
|
55.7 |
|
|
|
4.3 |
|
|
|
- |
|
|
|
98.1 |
|
Depreciation expense |
|
|
25.4 |
|
|
|
12.0 |
|
|
|
4.1 |
|
|
|
- |
|
|
|
41.5 |
|
General and administrative expenses |
|
|
2.1 |
|
|
|
1.4 |
|
|
|
0.2 |
|
|
|
1.4 |
|
|
|
5.1 |
|
Total costs and expenses |
|
|
65.6 |
|
|
|
69.1 |
|
|
|
8.6 |
|
|
|
1.4 |
|
|
|
144.7 |
|
Income (loss) from operations |
|
|
91.7 |
|
|
|
42.0 |
|
|
|
26.9 |
|
|
|
(1.4 |
) |
|
|
159.2 |
|
Income from equity investments |
|
|
- |
|
|
|
3.0 |
|
|
|
- |
|
|
|
- |
|
|
|
3.0 |
|
Interest expense, net |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
28.0 |
|
|
|
28.0 |
|
Income before income tax expense (benefit) |
|
|
91.7 |
|
|
|
45.0 |
|
|
|
26.9 |
|
|
|
(29.4 |
) |
|
|
134.2 |
|
Income tax expense (benefit) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
3.1 |
|
|
|
3.1 |
|
Net income (loss) |
|
|
91.7 |
|
|
|
45.0 |
|
|
|
26.9 |
|
|
|
(32.5 |
) |
|
|
131.1 |
|
Less: Net income (loss) attributable to noncontrolling interest |
|
|
83.0 |
|
|
|
40.5 |
|
|
|
24.4 |
|
|
|
(26.7 |
) |
|
|
121.2 |
|
Net income (loss) attributable to |
|
$ |
8.7 |
|
|
$ |
4.5 |
|
|
$ |
2.5 |
|
|
$ |
(5.8 |
) |
|
$ |
9.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
SUPPLEMENTAL OPERATING DATA (UNAUDITED)
(IN THOUSANDS)
|
|
Third |
|
|
Third |
|
|
Second |
|
|||
|
|
Quarter |
|
|
Quarter |
|
|
Quarter |
|
|||
|
|
2022 |
|
|
2021 |
|
|
2022 |
|
|||
|
|
|
|
|
|
|
|
|
|
|||
Throughput volumes |
|
|
|
|
|
|
|
|
|
|||
Gas gathering - Mcf of natural gas per day |
|
|
370 |
|
|
|
309 |
|
|
|
309 |
|
Crude oil gathering - bopd |
|
|
102 |
|
|
|
106 |
|
|
|
88 |
|
Gas processing - Mcf of natural gas per day |
|
|
354 |
|
|
|
285 |
|
|
|
292 |
|
Crude terminals - bopd |
|
|
110 |
|
|
|
111 |
|
|
|
93 |
|
NGL loading - blpd |
|
|
11 |
|
|
|
8 |
|
|
|
9 |
|
Water gathering - blpd |
|
|
83 |
|
|
|
75 |
|
|
|
65 |
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
Nine Months Ended
|
|
||||||
|
|
|
|
|
2022 |
|
|
2021 |
|
|||
Throughput volumes |
|
|
|
|
|
|
|
|
|
|||
Gas gathering - Mcf of natural gas per day |
|
|
|
|
|
335 |
|
|
|
316 |
|
|
Crude oil gathering - bopd |
|
|
|
|
|
96 |
|
|
|
111 |
|
|
Gas processing - Mcf of natural gas per day |
|
|
|
|
|
321 |
|
|
|
297 |
|
|
Crude terminals - bopd |
|
|
|
|
|
104 |
|
|
|
118 |
|
|
NGL loading - blpd |
|
|
|
|
|
11 |
|
|
|
13 |
|
|
Water gathering - blpd |
|
|
|
|
|
73 |
|
|
|
73 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20221026005199/en/
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Source:
FAQ
What is Hess Midstream's net income for Q3 2022?
How much did Hess Midstream raise its full-year guidance for net income?
What is the Adjusted EBITDA for Hess Midstream in Q3 2022?
What is the distribution growth target for Hess Midstream through 2024?