Chevron to divest Hess Midstream and DJ Basin crude midstream interests for $200M cash, sees $3B-$4B after-tax loss

Chevron will divest its ownership interests in Hess Midstream and DJ Basin crude midstream assets for $200M in cash, taking a $3B-$4B one-time after-tax loss and deconsolidating Hess Midstream along with its $3.70B debt. The revised agreements are expected to reduce Bakken unit midstream costs by about 50%.

Detected & updated continuously · Source: Nebula