Hess Midstream sees FY24 adjusted EBITDA $1,125M – $1,175M

Hess Midstream provided financial and operational guidance and expectations. “We continue to execute our strategy of making focused investments to capture increasing volumes in the Bakken,” said John Gatling, President and Chief Operating Officer of Hess Midstream. “Our 2026 minimum volume commitments imply substantial growth from 2023 levels, underpinned by Hess’ planned development activity and our continued focus on gas capture. This growth is expected to result in sustainable excess cash flow generation and the potential to return additional capital to our shareholders.” Full Year 2024 Guidance Hess Midstream’s financial guidance incorporates the outcomes of the year-end tariff rate recalculation and nomination process conducted with Hess Corporation under Hess Midstream’s commercial agreements with Hess. Hess Midstream expects full year 2024 net income of between $670 million and $720 million and Adjusted EBITDA of between $1,125 million and $1,175 million. Gross Adjusted EBITDA Margin1 is targeted to be approximately 75% in 2024. Crude oil gathering volumes are anticipated to average between 105 and 115 thousand barrels per day of crude oil in 2024, and crude oil terminaling volumes are expected to average between 120 and 130 MBbl of crude oil per day. Water gathering volumes are expected to average between 105 and 115 MBbl of water per day for full year 2024.