Company News »

Hess Midstream Partners LP Files Registration Statement for Initial Public Offering

Business Wire
Share on StockTwits
Published on

Hess Corporation (NYSE:HES) announced today that its wholly owned subsidiary, Hess Midstream Partners LP, has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) related to its proposed initial public offering of common units representing limited partner interests. The offering is expected to occur in the first quarter of 2015.

Hess Midstream Partners intends to list its common units on the New York Stock Exchange under the symbol “HESM.” The number of common units to be offered and the price range for the offering have not yet been determined.

Headquartered in Houston, Hess Midstream Partners’ initial assets will be contributed by Hess and are expected to include a 30% interest in Hess’ natural gas processing plant located in Tioga, North Dakota; a 50% interest in Hess’ rail loading terminal located in Tioga, along with the associated rail cars; a 50% interest in Hess’ crude oil truck and pipeline terminal located in Williams County, North Dakota; and a 100% interest in Hess’ propane storage cavern and rail and truck transloading facility located in Mentor, Minnesota.

Goldman, Sachs & Co. and Morgan Stanley will act as joint book-running managers for the proposed offering. The offering will be made only by means of a prospectus. When available, a preliminary prospectus related to this offering may be obtained from:

Goldman, Sachs & Co.
200 West Street
New York, NY 10282
Attn: Prospectus Department
Email: prospectus-ny@ny.email.gs.com

Morgan Stanley
180 Varick Street, 2nd Floor
New York, NY 10014
Attn: Prospectus Department

To obtain a copy of the preliminary prospectus free of charge when available, visit the SEC’s website at http://www.sec.gov and search under “Hess Midstream Partners LP.”

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

This news release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements involve certain risks and uncertainties, including, among others, that the business plans of Hess or Hess Midstream Partners may change as circumstances warrant and that securities of Hess Midstream Partners may not ultimately be offered to the public because of general market conditions or other factors. Neither Hess nor Hess Midstream Partners undertakes any obligation to update or revise such forward-looking statements to reflect events or circumstances that occur, or of which Hess or Hess Midstream Partners becomes aware after the date hereof.

Share on StockTwits