Chevron to divest Hess Midstream interests and DJ Basin midstream assets
Chevron expects the restructured Bakken contracts to reduce its Bakken unit midstream costs by approximately 50%.
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On October 6, 2026, Chevron said several subsidiaries agreed with Hess Midstream LP to restructure Bakken contracts and set up new DJ Basin contracts. Chevron said it will transfer its Hess Midstream interests and DJ Basin crude oil midstream assets for $200 million in cash and improved terms.
Chevron said the transaction, subject to specified terms including customary closing conditions and regulatory approvals, is expected to close by year-end 2026.
Key facts
- Cash consideration
- $200 million
- Hess Midstream debt to be deconsolidated
- Approximately $3.7 billion
- Expected one-time after-tax loss at closing
- Estimated at approximately $3 billion to $4 billion, expected to be treated as a special item
- Expected closing
- By year-end 2026, subject to customary closing conditions and regulatory approvals
Source: Form 8-K filed October 6, 2026. The company's release as filed with the SEC.
Written by GetSignal with AI from the company's SEC filing.
Not investment advice.
