Form 4: Hess Midstream LP: Significant Share Transactions by Hess Infrastructure Partners GP LLC

Hess Infrastructure Partners GP LLC reports a significant transaction involving the cancellation and transfer of Class B shares in Hess Midstream LP.

Summary

• Hess Infrastructure Partners GP LLC, a significant shareholder in Hess Midstream LP, has reported changes in its beneficial ownership.
• On January 15, 2025, 2,572,677 Class B shares were cancelled for no consideration.
• This cancellation was linked to Hess Midstream Operations LP's repurchase of Opco Class B Units from Hess Investments North Dakota LLC (HINDL) and GIP II Blue Holding, L.P.
• Additionally, 637,595 Class B shares were transferred from Hess Midstream GP LP to HINDL for no consideration.
• Following these transactions, Hess Infrastructure Partners GP LLC indirectly beneficially owns 60,672,806 Class B shares and 898,000 Class A shares through Hess Midstream GP LP.

Sentiment

Score: 7

Explanation: The document reflects standard operational adjustments and ownership changes, which are neither positive nor negative in themselves. The sentiment is neutral to slightly positive due to the lack of any negative implications.

Management Comments

• Jonathan C. Stein, Chief Financial Officer, signed the document on behalf of Hess Infrastructure Partners GP LLC, Hess Midstream GP LLC, and Hess Midstream GP LP.

Industry Context

This filing reflects routine transactions related to ownership structure within Hess Midstream LP, a company operating in the midstream energy sector. Such transactions are common as companies adjust their holdings and partnerships.

Comparison to Industry Standards

• Share transactions of this nature are common among publicly traded partnerships and are often related to internal restructuring or capital management.
• Comparable companies in the midstream sector, such as Enterprise Products Partners and Energy Transfer, also regularly report similar changes in beneficial ownership by their controlling entities.
• The scale of the transaction is significant, but not unusual for a company of Hess Midstream's size and structure.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership structure, but the overall impact is expected to be minimal.
• The transactions do not appear to have any direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Hess Midstream LP, Hess Infrastructure Partners GP LLC, Class B Shares, Class A Shares, Beneficial Ownership, Share Transaction, Hess Investments North Dakota LLC, GIP II Blue Holding, L.P.