Hess Midstream shares fell over 16% following Chevron's agreement to transfer its ownership interests in Hess Midstream and DJ Basin crude oil assets. This deal revises Bakken midstream contracts, expected to cut Chevron's unit midstream costs by about 50%, improving its cost structure and return on capital. Chevron will receive $200 million in cash and expects to deconsolidate Hess Midstream's $3.7 billion debt, recognizing a one-time after-tax loss of $3-4 billion. The transaction aims to boost Chevron's return on capital by 0.5 percentage points and generate long-term value, while Hess Midstream gains greater independence and targets steady distribution growth.
Following Chevron's deal to transfer its Hess Midstream stake, Chevron Corp shares are down 1.15% on Pluang as of Oct 07, 2026 22:42 WIB, trading at USD 205.23. The stock's market cap stands at $407.19 billion, with a dividend yield of 3.43%. Pluang order activity shows a slight tilt toward selling at 54%.
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