Chevron To Divest Its Ownership Interests In Hess Midstream And DJ Basin Crude Midstream Assets; Revised Agreements Expected To Reduce Bakken Unit Midstream Costs By About 50%; To Transfer Hess Midstream Interests And DJ Basin Assets For $200M Cash
Chevron Corporation (NYSE:CVX) announced today that several of its subsidiaries have entered into a series of definitive agreements with Hess Midstream LP (NYSE:HESM) to restructure the terms of its Bakken midstream
Chevron is selling off some of its pipeline business interests to Hess. This deal should cut Chevron's costs by half in one area.
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