Hess Midstream LP announced the pricing of its public offering of 10 million Class A shares representing limited partner interests, according to an Aug. 16 press release. (Source: Shutterstock.com)
Hess Midstream LP announced the pricing of its public offering of 10 million Class A shares representing limited partner interests, according to an Aug. 16 press release.
Hess announced the offering price at $28.80 per Class A share. Selling shareholder, Global Infrastructure Partners, has granted the underwriter a 30-day option to purchase up to 1.5 million additional Class A shares at the public offering price less underwriting discounts and commissions.
The gross proceeds from the sale of Class A shares by Global Infrastructure Partners is expected to be $288 million, exclusive of any proceeds that may be received in connection with the exercise of the underwriter's option to purchase additional shares. Hess will not receive any proceeds from the sale of Class A shares in the offering. The offering is expected to close on August 17, 2023, subject to customary closing conditions.
Goldman Sachs & Co. LLC is acting as the bookrunning manager of the offering.
Recommended Reading
Shale Outlook: E&Ps Making More U-Turn Laterals, Problem-Free
2025-01-09 - Of the more than 70 horseshoe wells drilled to date, half came in the first nine months of 2024 as operators found 2-mile, single-section laterals more economic than a pair of 1-mile straight holes.
Falcon, Tamboran Spud Second Well in Australia’s Beetaloo
2024-11-25 - Falcon Oil & Gas Ltd., with joint venture partner Tamboran, have spud a second well in the Shenandoah South Pilot Project in the Beetaloo.
E&P Highlights: Dec. 16, 2024
2024-12-16 - Here’s a roundup of the latest E&P headlines, including a pair of contracts awarded offshore Brazil, development progress in the Tishomingo Field in Oklahoma and a partnership that will deploy advanced electric simul-frac fleets across the Permian Basin.
Formentera Joins EOG in Wildcatting South Texas’ Oily Pearsall Pay
2025-01-15 - Known in the past as a “heartbreak shale,” Formentera Partners is counting on bigger completions and longer laterals to crack the Pearsall code, Managing Partner Bryan Sheffield said. EOG Resources is also exploring the shale.
Classic Rock, New Wells: Permian Conventional Zones Gain Momentum
2024-12-02 - Spurned or simply ignored by the big publics, the Permian Basin’s conventional zones—the Central Basin Platform, Northwest Shelf and Eastern Shelf—remain playgrounds for independent producers.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.