Hess Midstream LP

We are a fee-based, growth-oriented, limited partnership that owns, operates, develops, and acquires a diverse set of midstream assets, providing fee-based services to Chevron, its subsidiaries, and third-party customers. Our assets are primarily located in the Bakken and Three Forks shale plays in the Williston Basin area of North Dakota, which we collectively refer to as the Bakken. The Bakken is described as one of the most prolific crude oil producing basins in North America. Our Sponsor has dedicated substantially all of its existing and future owned or controlled production in the Bakken under our long-term, fee-based agreements and intends to use us as the primary midstream vehicle to support its production goals in the Bakken and preserve the value of its midstream business. We generate substantially all of our revenues by charging fees for gathering, compressing, and processing natural gas and fractionating NGLs; gathering, terminaling, loading, and transporting crude oil and NGLs; storing and terminaling propane; and gathering and disposing of produced water. Prior to December 16, 2019, we were indirectly controlled by Hess Infrastructure Partners GP LLC, the general partner of Hess Infrastructure Partners LP ("HIP"). HIP was originally formed in 2015 as a 50/50 joint venture between Hess and GIP. On April 10, 2017, we completed an initial public offering ("IPO") as a master limited partnership. Through this IPO, HIP contributed a 20% controlling economic interest in Hess North Dakota Pipelines Operations LP, Hess TGP Operations LP, and Hess North Dakota Export Logistics Operations LP (collectively, the "Joint Interest Assets"), and a 100% interest in Hess Mentor Storage Holdings LLC to the Partnership. HIP owned the remaining 80% economic interest in the Joint Interest Assets, a 100% interest in certain other businesses, including Hess' Bakken water services business ("Hess Water Services"), which it acquired from Hess on March 1, 2019, and a 100% interest in Hess Midstream Partners GP LP, which held all of the Partnership's outstanding incentive distribution rights and the general partner interest in the Partnership, and controlled the Partnership.