Chevron to transfer Hess Midstream stake, DJ Basin crude midstream assets to Hess Midstream for USD 200 million

• Chevron will transfer its ownership interests and general partner position in Hess Midstream to Hess Midstream.
• DJ Basin crude oil midstream assets will also be transferred in exchange for improved Bakken and new DJ Basin midstream contracts.
• Deal includes USD 200 million in cash consideration.
• Reworked Bakken contracts are expected to cut unit midstream costs by about 50%.
• Chevron expects to deconsolidate Hess Midstream, including about USD 3.7 billion of debt.
• Closing targeted by year-end 2026, subject to customary conditions and regulatory approvals.
• At closing, a one-time after-tax loss is estimated at about USD 3 billion to USD 4 billion.
• Transaction expected to lift return on capital employed by 0.5% on an absolute basis.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Chevron Corporation published the original content used to generate this news brief via Business Wire (Ref. ID: 20261006636351) on October 06, 2026, and is solely responsible for the information contained therein.