10-Q

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

Item 1. Financial Statements


	March 31,		December 31,
	2023		2022
(in millions, except share amounts)
Assets
Cash and cash equivalents	$	3.6	$	3.1
Accounts receivable—affiliate:
From contracts with customers		109.2		123.0
Other current assets		3.8		6.2
Total current assets		116.6		132.3
Equity investments		92.9		93.9
Property, plant and equipment, net		3,183.0		3,172.8
Long-term receivable—affiliate		0.5		0.7
Deferred tax asset		174.9		177.2
Other noncurrent assets		10.6		11.3
Total assets	$	3,578.5	$	3,588.2
Liabilities
Accounts payable—trade	$	39.8	$	35.0
Accounts payable—affiliate		19.2		27.7
Accrued liabilities		70.9		82.9
Current maturities of long-term debt		5.0		2.5
Other current liabilities		3.6		11.4
Total current liabilities		138.5		159.5
Long-term debt		2,985.1		2,883.1
Deferred tax liability		0.4		0.5
Other noncurrent liabilities		16.0		16.1
Total liabilities		3,140.0		3,059.2
Partners' capital
Class A shares (44,093,493 shares issued and outstanding as of March 31, 2023; 44,002,846 shares issued and outstanding as of December 31, 2022)		227.9		245.1
Class B shares (192,228,352 shares issued and outstanding as of March 31, 2023; 195,847,606 shares issued and outstanding as of December 31, 2022)		-		-
Total Class A and Class B partners' capital		227.9		245.1
Noncontrolling interest		210.6		283.9
Total partners' capital		438.5		529.0
Total liabilities and partners' capital	$	3,578.5	$	3,588.2

See accompanying notes to unaudited consolidated financial statements.

PART I—FINANCIAL INFORMATION (CONT'D)

HESS MIDSTREAM LP

CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)


	Three Months Ended March 31,
	2023		2022
(in millions, except per share data)
Revenues
Affiliate services	$	303.4	$	312.1
Other income		1.6		0.3
Total revenues		305.0		312.4
Costs and expenses
Operating and maintenance expenses (exclusive of depreciation shown separately below)		62.5		66.5
Depreciation expense		47.4		44.4
General and administrative expenses		6.4		6.0
Total operating costs and expenses		116.3		116.9
Income from operations		188.7		195.5
Income from equity investments		1.6		0.4
Interest expense, net		41.6		31.3
Income before income tax expense		148.7		164.6
Income tax expense		6.5		5.0
Net income		142.2		159.6
Less: Net income attributable to noncontrolling interest		121.5		142.7
Net income attributable to Hess Midstream LP	$	20.7	$	16.9

Net income attributable to Hess Midstream LP per Class A share:
Basic	$	0.47	$	0.50
Diluted	$	0.47	$	0.49
Weighted average Class A shares outstanding
Basic		44.0		33.7
Diluted		44.1		33.8

See accompanying notes to unaudited consolidated financial statements.

PART I—FINANCIAL INFORMATION (CONT'D)

HESS MIDSTREAM LP

CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL

(UNAUDITED)


	Partners' Capital
	Class A Shares			Class B Shares		Noncontrolling Interest			Total
(in millions)
Balance at December 31, 2022	$	245.1		$	-	$	283.9		$	529.0
Net income		20.7			-		121.5			142.2
Equity-based compensation		0.6			-		-			0.6
Distributions - $0.5696 per share		(25.1	)		-		(111.6	)		(136.7	)
Recognition of deferred tax asset		4.3			-		-			4.3
Class B unit repurchase		(17.5	)		-		(82.5	)		(100.0	)
Transaction costs		(0.2	)		-		(0.7	)		(0.9	)
Balance at March 31, 2023	$	227.9		$	-	$	210.6		$	438.5

Balance at December 31, 2021	$	204.1		$	-	$	549.0		$	753.1
Net income		16.9			-		142.7			159.6
Equity-based compensation		0.5			-		-			0.5
Distributions - $0.5167 per share		(17.5	)		-		(113.5	)		(131.0	)
Transaction costs		(0.1	)		-		(0.3	)		(0.4	)
Balance at March 31, 2022	$	203.9		$	-	$	577.9		$	781.8

See accompanying notes to unaudited consolidated financial statements.

PART I—FINANCIAL INFORMATION (CONT'D)

HESS MIDSTREAM LP

CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)


	Three Months Ended March 31,
	2023			2022
(in millions)
Cash flows from operating activities
Net income	$	142.2		$	159.6
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation expense		47.4			44.4
(Income) loss from equity investments		(1.6	)		(0.4	)
Distributions from equity investments		2.6			4.7
Amortization of deferred financing costs		2.1			2.0
Equity-based compensation expense		0.6			0.5
Deferred income tax expense (benefit)		6.5			5.0
Changes in assets and liabilities:
Accounts receivable – affiliate		14.0			(17.1	)
Other current and noncurrent assets		2.5			4.0
Accounts payable – trade		4.8			8.7
Accounts payable – affiliate		(3.7	)		(2.6	)
Accrued liabilities		(10.5	)		(11.0	)
Other current and noncurrent liabilities		(8.2	)		(7.2	)
Net cash provided by (used in) operating activities		198.7			190.6
Cash flows from investing activities
Additions to property, plant and equipment		(64.3	)		(54.8	)
Net cash provided by (used in) investing activities		(64.3	)		(54.8	)
Cash flows from financing activities
Net proceeds from (repayments of) bank borrowings with maturities of 90 days or less		103.0			1.0
Bank borrowings with maturities of greater than 90 days
Repayments		-			(5.0	)
Transaction costs		(0.2	)		-
Class B unit repurchase		(100.0	)		-
Distributions to shareholders		(25.1	)		(17.5	)
Distributions to noncontrolling interest		(111.6	)		(113.5	)
Net cash provided by (used in) financing activities		(133.9	)		(135.0	)
Increase (decrease) in cash and cash equivalents		0.5			0.8
Cash and cash equivalents, beginning of period		3.1			2.2
Cash and cash equivalents, end of period	$	3.6		$	3.0
Supplemental disclosure of non-cash investing and financing activities:
(Increase) decrease in accrued capital expenditures and related liabilities	$	7.0		$	17.7
Recognition of deferred tax asset	$	4.3		$	-

See accompanying notes to unaudited consolidated financial statements.

PART I – FINANCIAL INFORMATION (CONT’D)

HESS MIDSTREAM LP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Note 1. Basis of Presentation

Unless the context otherwise requires, references in this report to the “Company,” “we,” “our,” “us” or like terms, refer to Hess Midstream LP and its subsidiaries.

The consolidated financial statements included in this report reflect all normal and recurring adjustments which, in the opinion of management, are necessary for a fair presentation of our consolidated financial position at March 31, 2023 and December 31, 2022, the consolidated results of operations for the three months ended March 31, 2023 and 2022, and the consolidated cash flows for the three months ended March 31, 2023 and 2022. The Company has no items of other comprehensive income (loss); therefore, net income (loss) is equal to comprehensive income (loss). The unaudited results of operations for the interim periods reported are not necessarily indicative of results to be expected for the full year.

The consolidated financial statements were prepared in accordance with the requirements of the Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain notes or other financial information that are normally required by U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted from these interim consolidated financial statements. These financial statements, therefore, should be read in conjunction with the financial statements and related notes included in the Company’s annual report on Form 10‑K for the year ended December 31, 2022.

We consolidate the activities of Hess Midstream Operations LP (“the Partnership”), as a variable interest entity (“VIE”) under U.S. GAAP. We have concluded that we are the primary beneficiary of the VIE, as defined in the accounting standards, since we have the power, through our ownership, to direct those activities that most significantly impact the economic performance of the Partnership. This conclusion was based on a qualitative analysis that considered the Partnership’s governance structure and the delegation of control provisions, which provide us the ability to control the operations of the Partnership. All financial statement activities associated with the VIE are captured within gathering, processing and storage, and terminaling and export segments (see Note 11, Segments). We currently do not have any independent assets or operations other than our interest in the Partnership. Our noncontrolling interest represents the approximate 81.3% interest in the Partnership retained by Hess Corporation (“Hess”) and GIP II Blue Holding, L.P. (“GIP” and together with Hess, the “Sponsors”) at March 31, 2023 (81.7% at December 31, 2022). See Note 2, Equity Transactions for a description of changes in noncontrolling interest related to the equity transactions.

Note 2. Equity Transactions

On March 27, 2023, the Company, the Partnership and our Sponsors entered into a unit repurchase agreement pursuant to which the Partnership agreed to purchase from the Sponsors (divided equally between the Sponsors) 3,619,254 Class B units representing limited partner interests in the Partnership (the “Class B Units”) for an aggregate purchase price of approximately $100 million. The repurchase transaction was consummated on March 30, 2023. The purchase price per Class B Unit was $27.63, the closing price of the Class A shares representing limited partner interests in the Company (the “Class A Shares”) on March 27, 2023. Pursuant to the terms of the repurchase agreement, immediately following the purchase of the Class B Units from the Sponsors, the Partnership cancelled those units, and the Company cancelled, for no consideration, an equal number of Class B Shares representing limited partner interests in the Company held by the Company’s general partner. The repurchase transaction was funded using borrowings under the Partnership’s existing revolving credit facility (see Note 6, Debt and Interest Expense).

The repurchase transaction was accounted for in accordance with ASC 810 whereby changes in a parent’s ownership interest while the parent retains its controlling financial interest in its subsidiary are accounted for as equity transactions. The carrying amounts of the noncontrolling interest were adjusted to reflect the changes in the ownership interest with the difference between the amounts of consideration paid and the amounts by which the noncontrolling interest were adjusted recognized as a reduction in equity attributable to Class A shareholders. We incurred approximately $0.9 million of costs directly attributable to the repurchase transaction that were charged to equity.

As a result of the repurchase transaction described above, we also recognized an additional deferred tax asset of $4.3 million related to the change in the difference between the carrying amount and tax basis of our investment in the Partnership. The effect of recognizing the additional deferred tax asset was included in Class A shareholders’ equity balance in the accompanying consolidated statement of changes in partners’ capital due to the transaction being characterized as a transaction among or with shareholders.

PART I – FINANCIAL INFORMATION (CONT’D)

HESS MIDSTREAM LP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Note 3. Related Party Transactions

In addition to the Class B unit repurchase transaction and distributions to the Sponsors disclosed elsewhere in the Notes to consolidated financial statements, we had the following related party transactions:

Commercial Agreements

Effective January 1, 2014, we entered into long-term fee-based (i) gas gathering, (ii) crude oil gathering, (iii) gas processing and fractionation, (iv) storage services, and (v) terminal and export services agreements with certain subsidiaries of Hess. Effective January 1, 2019, we entered into long-term fee-based water services agreements with a subsidiary of Hess. For the services performed under these commercial agreements, we receive a fee per barrel of crude oil, barrel of water, Mcf of natural gas, or Mcf equivalent of NGLs, as applicable, delivered during each month, and Hess is obligated to provide us with minimum volumes of crude oil, water, natural gas and NGLs. Minimum volume commitments (“MVCs”) are equal to 80% of Hess’ nominations in each development plan that apply on a three-year rolling basis such that MVCs are set for the three years following the most recent nomination. Without our consent, the MVCs resulting from the nominated volumes for any quarter or year contained in any prior development plan shall not be reduced by any updated development plan unless dedicated production is released by us. The applicable MVCs may, however, be increased as a result of the nominations contained in any such updated development plan.

Except for the water services agreements and except for a certain gathering sub-system as described below, each of our commercial agreements with Hess has an initial 10-year term effective January 1, 2014 (“Initial Term”). For this gathering sub-system, the Initial Term is 15 years effective January 1, 2014 and for the water services agreements the Initial Term is 14 years effective January 1, 2019. Each of our commercial agreements other than our storage services agreement includes an inflation escalator and a fee recalculation mechanism that allows fees to be adjusted annually during the Initial Term for updated estimates of cumulative throughput volumes and our capital and operating expenditures in order to target a return on capital deployed over the Initial Term of the applicable commercial agreement (or, with respect to the crude oil services fee under our terminal and export services agreement, the 20-year period commencing on the effective date of the agreement).

We have the unilateral right, exercisable by the delivery of a written notice on or before the date that is three years prior to the expiration of the Initial Term, to extend each commercial agreement for one additional 10-year term (“Secondary Term”). For a certain gathering sub-system, the Secondary Term is 5-years and for the water services agreements the Secondary Term is 10 years. On December 30, 2020, we exercised our renewal options to extend the terms of certain crude oil gathering, terminaling, storage, gas processing and gas gathering commercial agreements with Hess for the Secondary Term through December 31, 2033. There were no changes to any provisions of the existing commercial agreements as a result of the exercise of the renewal options. For the remaining water gathering and disposal agreements as well as the remaining gas gathering agreement, we have the sole option to renew these agreements for an additional term that is exercisable at a later date.

During the Secondary Term of each of our commercial agreements other than our storage services agreement and terminal and export services agreement (with respect to crude oil terminaling services), the fee recalculation model under each applicable agreement will be replaced by an inflation-based fee structure. The initial fee for the first year of the Secondary Term will be determined based on the average fees paid by Hess under the applicable agreement during the last three years of the Initial Term (with such fees adjusted for inflation through the first year of the Secondary Term). For each year following the first year of the Secondary Term, the applicable fee will be adjusted annually based on the percentage change in the consumer price index, provided that we may not increase any fee by more than 3% in any calendar year solely by reason of an increase in the consumer price index, and no fee will ever be reduced below the amount of the applicable fee payable by Hess in the prior year as a result of a decrease in the consumer price index. During the Secondary Term of our commercial agreements, Hess will continue to have MVCs equal to 80% of Hess’ nominations in each development plan that apply on a three-year rolling basis through the Secondary Term.

For the three months ended March 31, 2023 and 2022, approximately 100% of our revenues were attributable to our fee‑based commercial agreements with Hess, including revenues from third‑party volumes contracted with Hess and delivered to us under these agreements. We retain control of our assets and the flow of volumes based on available capacity within our integrated gathering, processing and terminaling systems. Together with Hess, we are pursuing strategic relationships with third‑party producers and other midstream companies with operations in the Bakken in order to maximize our utilization rates.

PART I – FINANCIAL INFORMATION (CONT’D)

HESS MIDSTREAM LP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Revenues from contracts with customers on a disaggregated basis are as follows:


	Three Months Ended March 31,
	2023		2022
(in millions)
Oil and gas gathering services	$	144.6	$	145.3
Processing and storage services		113.8		113.8
Terminaling and export services		25.2		34.7
Water gathering and disposal services		19.8		18.3
Total revenues from contracts with customers	$	303.4	$	312.1
Other income		1.6		0.3
Total revenues	$	305.0	$	312.4

The following table presents MVC shortfall fees earned during each period:


	Three Months Ended March 31,
	2023			2022
(in millions)
Oil and gas gathering services	$	2.2		$	21.3
Processing and storage services		(0.3	)		6.3
Terminaling and export services		2.4			6.3
Total	$	4.3		$	33.9

The following table presents third-party pass-through costs for which we recognize revenues in an amount equal to the costs. These third-party costs are included in Operating and maintenance expenses in the accompanying unaudited consolidated statements of operations.


	Three Months Ended March 31,
	2023			2022
(in millions)
Electricity and other related fees	$	11.0		$	10.5
Produced water trucking and disposal costs		8.3			7.9
Rail transportation costs		(1.8	)		4.3
Total	$	17.5		$	22.7

Omnibus and Employee Secondment Agreements

Under our omnibus and employee secondment agreements, Hess provides substantial operational and administrative services to us in support of our assets and operations. For the three months ended March 31, 2023 and 2022, we had the following charges from Hess. The classification of these charges between operating and maintenance expenses and general and administrative expenses is based on the fundamental nature of the services being performed for our operations.


	Three Months Ended March 31,
	2023		2022
(in millions)
Operating and maintenance expenses	$	17.9	$	16.9
General and administrative expenses		3.9		3.7
Total	$	21.8	$	20.6

PART I – FINANCIAL INFORMATION (CONT’D)

HESS MIDSTREAM LP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

LM4 Agreements

Separately from our commercial agreements with Hess, we entered into a gas processing agreement with Little Missouri 4 (“LM4”), a 50/50 joint venture with Targa Resources Corp., under which we pay a processing fee per Mcf of natural gas and reimburse LM4 for our proportionate share of electricity costs. These processing fees are included in Operating and maintenance expenses in the accompanying consolidated statements of operations. In addition, we share profits and losses and receive distributions from LM4 under the LM4 amended and restated limited liability company agreement based on our ownership interest. For the three months ended March 31, 2023 and 2022, we had the following activity related to our agreements with LM4:


	Three Months Ended March 31,
	2023		2022
(in millions)
Processing fee incurred	$	5.0	$	4.5
Earnings from equity investments		1.6		0.4
Distributions received from equity investments		2.6		4.7

Note 4. Property, Plant and Equipment

Property, plant and equipment, at cost, is as follows:


	Estimated useful lives	March 31, 2023			December 31, 2022
(in millions, except for number of years)
Gathering assets
Pipelines	22 years	$	1,605.4		$	1,591.7
Compressors, pumping stations and terminals	22 to 25 years		930.5			923.1
Gas plant assets
Pipelines, pipes and valves	22 to 25 years		460.0			460.0
Equipment	12 to 30 years		428.2			428.2
Processing and fractionation facilities	25 years		414.8			414.4
Buildings	35 years		182.3			182.3
Logistics facilities and railcars	20 to 25 years		389.3			389.3
Storage facilities	20 to 25 years		19.7			19.7
Other	20 to 25 years		25.6			25.5
Construction-in-progress	N/A		172.0			136.3
Total property, plant and equipment, at cost			4,627.8			4,570.5
Accumulated depreciation			(1,444.8	)		(1,397.7	)
Property, plant and equipment, net		$	3,183.0		$	3,172.8

Note 5. Accrued Liabilities

Accrued liabilities are as follows:


	March 31, 2023		December 31, 2022
(in millions)
Accrued interest	$	28.8	$	35.4
Accrued capital expenditures		21.9		24.1
Other accruals		20.2		23.4
Total	$	70.9	$	82.9

PART I – FINANCIAL INFORMATION (CONT’D)

HESS MIDSTREAM LP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Note 6. Debt and Interest Expense

Fixed‑Rate Senior Notes

As of March 31, 2023, the Partnership had $400.0 million aggregate principal amount of 5.500% fixed‑rate senior unsecured notes due 2030 that were issued to qualified institutional investors. Interest is payable semi‑annually on April 15 and October 15.

As of March 31, 2023, the Partnership had $750.0 million aggregate principal amount of 4.250% fixed‑rate senior unsecured notes due 2030 that were issued to qualified institutional investors. Interest is payable semi‑annually on February 15 and August 15.

As of March 31, 2023, the Partnership also had $550.0 million aggregate principal amount of 5.125% fixed‑rate senior unsecured notes due 2028 that were issued to qualified institutional investors. Interest is payable semi‑annually on June 15 and December 15.

In addition, as of March 31, 2023, the Partnership had $800.0 million aggregate principal amount of 5.625% fixed‑rate senior unsecured notes due 2026 that were issued to qualified institutional investors. Interest is payable semi‑annually on February 15 and August 15.

The notes described above are guaranteed by certain subsidiaries of the Partnership. Each of the indentures for the senior unsecured notes described above contains customary covenants that restrict our ability and the ability of our restricted subsidiaries to (i) declare or pay any dividend or make any other restricted payments; (ii) transfer or sell assets or subsidiary stock; (iii) incur additional debt; or (iv) make restricted investments, unless, at the time of and immediately after giving pro forma effect to such restricted payments and any related incurrence of indebtedness or other transactions, no default has occurred and is continuing or would occur as a consequence of such restricted payment and if the leverage ratio does not exceed 4.25 to 1.00. As of March 31, 2023, we were in compliance with all debt covenants under the indentures.

In addition, the covenants included in the indentures governing the senior unsecured notes contain provisions that allow the Company to satisfy the Partnership’s reporting obligations under the indenture, as long as any such financial information of the Company contains information reasonably sufficient to identify the material differences, if any, between the financial information of the Company, on the one hand, and the Partnership and its subsidiaries on a stand-alone basis, on the other hand and the Company does not directly own capital stock of any person other than the Partnership and its subsidiaries, or material business operations that would not be consolidated with the financial results of the Partnership and its subsidiaries. The Company is a holding company and has no independent assets or operations. Other than the interest in the Partnership and the effect of federal and state income taxes that are recognized at the Company level, there are no material differences between the consolidated financial statements of the Partnership and the consolidated financial statements of the Company.

Credit Facilities

As of March 31, 2023, the Partnership had $1.4 billion senior secured credit facilities (the “Credit Facilities”) consisting of a $1.0 billion 5-year revolving credit facility and a $400.0 million 5‑year Term Loan A facility. The Credit Facilities mature in July 2027. Facility fees accrue on the total capacity of the revolving credit facility. Borrowings under the 5-year Term Loan A facility generally bear interest at Secured Overnight Financing Rate (”SOFR”) plus the applicable margin ranging from 1.65% to 2.55%, while the applicable margin for the 5‑year syndicated revolving credit facility ranges from 1.375% to 2.050%. Pricing levels for the facility fee and interest rate margins are based on the Partnership’s ratio of total debt to EBITDA (as defined in the Credit Facilities). If the Partnership obtains an investment grade credit rating, the pricing levels will be based on the Partnership’s credit ratings in effect from time to time. As of March 31, 2023, borrowings of $121.0 million were drawn and outstanding under the Partnership’s revolving credit facility, and borrowings of $400.0 million, excluding deferred issuance costs, were drawn and outstanding under the Partnership’s Term Loan A facility.

PART I – FINANCIAL INFORMATION (CONT’D)

HESS MIDSTREAM LP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

The Credit Facilities can be used for borrowings and letters of credit for general corporate purposes. The Credit Facilities are guaranteed by each direct and indirect wholly owned material domestic subsidiary of the Partnership, and are secured by first priority perfected liens on substantially all of the presently owned and after-acquired assets of the Partnership and its direct and indirect wholly owned material domestic subsidiaries, including equity interests directly owned by such entities, subject to certain customary exclusions. The Credit Facilities contain representations and warranties, affirmative and negative covenants and events of default that the Partnership considers to be customary for an agreement of this type, including a covenant that requires the Partnership to maintain a ratio of total debt to EBITDA (as defined in the Credit Facilities) for the prior four fiscal quarters of not greater than 5.00 to 1.00 as of the last day of each fiscal quarter (5.50 to 1.00 during the specified period following certain acquisitions) and, prior to the Partnership obtaining an investment grade credit rating, a ratio of secured debt to EBITDA for the prior four fiscal quarters of not greater than 4.00 to 1.00 as of the last day of each fiscal quarter. As of March 31, 2023, the Partnership was in compliance with these financial covenants.

Fair Value Measurement

At March 31, 2023, our total debt had a carrying value of $2,990.1 million and had a fair value of approximately $2,884.3 million, based on Level 2 inputs in the fair value measurement hierarchy. The carrying value of the amounts under the Term Loan A facility and revolving credit facility at March 31, 2023, approximated their fair value. Any changes in interest rates do not impact cash outflows associated with fixed rate interest payments or settlement of debt principal, unless a debt instrument is repurchased prior to maturity.

Note 7. Partners’ Capital and Distributions

Our partnership agreement requires that, within 45 days after the end of each quarter, we distribute all of our available cash, as defined in the partnership agreement, to shareholders of record on the applicable record date. The following table details the distributions declared and/or paid for the periods presented:


Period	Record Date	Distribution Date	Distribution per Class A share
First Quarter 2022	May 5, 2022	May 13, 2022	$	0.5492
Second Quarter 2022	August 4, 2022	August 12, 2022	$	0.5559
Third Quarter 2022	November 3, 2022	November 14, 2022	$	0.5627
Fourth Quarter 2022	February 2, 2023	February 13, 2023	$	0.5696
First Quarter 2023(1)	May 4, 2023	May 12, 2023	$	0.5851

(1) For more information, see Note 12, Subsequent Events.

PART I – FINANCIAL INFORMATION (CONT’D)

HESS MIDSTREAM LP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Note 8. Earnings per Share

We calculate earnings per Class A Share as we do not have any other participating securities. Substantially all of income tax expense is attributed to earnings of Class A Shares reflective of our organizational structure. Class B Units of the Partnership together with the equal number of Class B Shares of the Company are convertible to Class A Shares of the Company on a one-for-one basis. In addition, our restricted equity-based awards may have a dilutive effect on our earnings per share. Diluted earnings per Class A Share are calculated using the “treasury stock method” or “if-converted method,” whichever is more dilutive.


	Three Months Ended March 31,
(in millions, except per share amounts)	2023		2022
Net income	$	142.2	$	159.6
Less: Net income attributable to noncontrolling interest		121.5		142.7
Net income attributable to Hess Midstream LP		20.7		16.9
Net income attributable to Hess Midstream LP per Class A share:
Basic:	$	0.47	$	0.50
Diluted:	$	0.47	$	0.49
Weighted average Class A shares outstanding:
Basic:		44.0		33.7
Diluted:		44.1		33.8

For the three months ended March 31, 2023 and 2022 the weighted average number of Class A shares outstanding included 60,566 and 101,612 dilutive restricted shares, respectively.

Note 9. Concentration of Credit Risk

Hess represented approximately 100% of our total revenues and accounts receivable for the three months ended March 31, 2023 and 2022.

Note 10. Commitments and Contingencies

Environmental Contingencies

The Company is subject to federal, state and local laws and regulations relating to the environment. On August, 12, 2022, the Company became aware of a produced water release from an underground pipeline located approximately 8 miles north of Ray, North Dakota. At this time, it is estimated that approximately 34,000 barrels of produced water were released, causing impacts to soils, crops, and groundwater. The Company has recorded reserves for the estimated future costs to investigate and remediate any impacts of the release.

As of March 31, 2023 our reserves for all estimated remediation liabilities, inclusive of the produced water release above, in Accrued liabilities and Other noncurrent liabilities were $1.1 million and $3.7 million, respectively, compared with $1.4 million and $4.3 million, respectively, as of December 31, 2022.

Legal Proceedings

In the ordinary course of business, the Company is from time to time party to various judicial and administrative proceedings. We regularly assess the need for accounting recognition or disclosure of these contingencies. In the case of a known contingency, we accrue a liability when the loss is probable and the amount is reasonably estimable. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum of the range is accrued.

On or about March 14, 2023, the Company received a Notice of Violation (the “Notice”) from the North Dakota Department of Environmental Quality in the connection with the produced water release described under Environmental Contingencies above. The Notice alerts the Company that it may have violated the State’s water pollution control laws, but neither imposes nor waives any enforcement action. The State has not yet taken formal enforcement action. The Company responded to the Notice detailing the steps it has taken to remediate the produced water release. Unless and until formal enforcement action is started, the Company cannot fully predict the potential cost of any fines or penalties and what rights, claims, and defenses it may have.

PART I – FINANCIAL INFORMATION (CONT’D)

HESS MIDSTREAM LP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Based on currently available information, we believe it is remote that the outcome of known matters, including the produced water release described above, would have a material adverse impact on our financial condition, results of operations or cash flows. Accordingly, as of March 31, 2023 and December 31, 2022, we did not have material accrued liabilities for legal contingencies.

Note 11. Segments

Our operations are located in the United States and are organized into three reportable segments: (1) gathering, (2) processing and storage and (3) terminaling and export. Our reportable segments comprise the structure used by our Chief Operating Decision Maker (“CODM”) to make key operating decisions and assess performance. These segments are strategic business units with differing products and services. Our CODM evaluates the segments’ operating performance based on multiple measures including Adjusted EBITDA, defined as net income (loss) before net interest expense, income tax expense (benefit), depreciation and amortization and our proportional share of depreciation of equity affiliates, as further adjusted to eliminate the impact of certain items that we do not consider indicative of our ongoing operating performance, such as transaction costs, other income and other non-cash, non‑recurring items, if applicable.

PART I – FINANCIAL INFORMATION (CONT’D)

HESS MIDSTREAM LP

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

The following tables reflect certain financial data for each reportable segment:


	Gathering		Processing and Storage		Terminaling and Export		Interest and Other			Consolidated
(in millions)
For the Three Months Ended March 31, 2023
Revenues and other income	$	164.7	$	114.4	$	25.9	$	-		$	305.0
Net income (loss)		95.1		80.1		17.6		(50.6	)		142.2
Net income (loss) attributable to Hess Midstream LP		17.4		14.5		3.3		(14.5	)		20.7
Depreciation expense		28.8		14.5		4.1		-			47.4
Proportional share of equity affiliates' depreciation		-		1.3		-		-			1.3
Income from equity investments		-		1.6		-		-			1.6
Interest expense, net		-		-		-		41.6			41.6
Income tax expense		-		-		-		6.5			6.5
Adjusted EBITDA		123.9		95.9		21.7		(2.5	)		239.0
Capital expenditures*		49.4		0.9		7.0		-			57.3

	Gathering		Processing and Storage		Terminaling and Export		Interest and Other			Consolidated
(in millions)
For the Three Months Ended March 31, 2022
Revenues and other income	$	163.6	$	113.8	$	35.0	$	-		$	312.4
Net income (loss)		98.2		78.1		21.9		(38.6	)		159.6
Net income (loss) attributable to Hess Midstream LP		13.0		10.4		2.9		(9.4	)		16.9
Depreciation expense		25.9		14.4		4.1		-			44.4
Proportional share of equity affiliates' depreciation		-		1.3		-		-			1.3
Income from equity investments		-		0.4		-		-			0.4
Interest expense, net		-		-		-		31.3			31.3
Income tax expense (benefit)		-		-		-		5.0			5.0
Adjusted EBITDA		124.1		93.8		26.0		(2.3	)		241.6
Capital expenditures*		35.7		0.9		0.5		-			37.1

*Includes acquisition, expansion and maintenance capital expenditures, as applicable.

Total assets for the reportable segments are as follows:



	March 31, 2023		December 31, 2022
(in millions)
Gathering	$	2,036.1	$	2,022.0
Processing and Storage(1)		1,079.7		1,099.2
Terminaling and Export		273.9		275.8
Interest and Other		188.8		191.2
Total assets	$	3,578.5	$	3,588.2

(1) Includes investment in equity investees of $92.9 million as of March 31, 2023 and $93.9 million as of December 31, 2022.

Note 12. Subsequent Events

On April 24, 2023, the board of directors of our general partner declared a quarterly cash distribution of $0.5851 per Class A share for the quarter ended March 31, 2023. The distribution represents an approximate 2.7% increase in the quarterly distribution per Class A share for the first quarter of 2023 as compared with the fourth quarter of 2022. The distribution will be payable on May 12, 2023, to shareholders of record as of the close of business on May 4, 2023. Simultaneously, the Partnership will make a distribution of $0.5851 per Class B unit of the Partnership to the Sponsors.

PART I – FINANCIAL INFORMATION (CONT’D)

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Management’s Discussion and Analysis of Financial Condition and Results of Operations should be read in conjunction with the unaudited financial statements and accompanying footnotes included under Item 1. Financial Statements and in conjunction with the audited consolidated financial statements and accompanying footnotes in our Annual Report on Form 10‑K for the year ended December 31, 2022 (our “2022 Annual Report”).

Unless otherwise stated or the context otherwise indicates, references in this report to “Hess Midstream LP,” “the Company,” “us,” “our,” “we” or similar terms refer to Hess Midstream LP, including its consolidated subsidiaries. References to “Partnership” refer to Hess Midstream Operations LP.

This discussion contains forward‑looking statements that involve risks and uncertainties. Our actual results could differ materially from those discussed below. Factors that could cause or contribute to such differences include, but are not limited to, those identified below and those discussed in our 2022 Annual Report.

Overview

We are a fee-based, growth-oriented, limited partnership that owns, operates, develops and acquires a diverse set of midstream assets and provides fee-based services to Hess Corporation (“Hess”) and third-party customers. We are managed and controlled by Hess Midstream GP LLC, the general partner of our general partner that is owned 50/50 by Hess and GIP II Blue Holding, L.P. (“GIP” and together with Hess, the “Sponsors”). Our assets are primarily located in the Bakken and Three Forks shale plays in the Williston Basin area of North Dakota, which we collectively refer to as the Bakken.

In addition, we utilized the excess free cash flow beyond our growing distributions to provide increased return of capital to our shareholders through an approximate 1.5% increase in our distribution level per Class A share in addition to the quarterly 1.2% increase per Class A share consistent with our target of at least 5% growth in annual distributions per Class A share.

Our assets and operations are organized into the following three reportable segments: (1) gathering (2) processing and storage and (3) terminaling and export.

PART I – FINANCIAL INFORMATION (CONT’D)

First Quarter Results

Significant financial and operating highlights for the first quarter of 2023 included:

•

Consolidated net income of $142.2 million;

•

Net income attributable to Hess Midstream LP after deduction for noncontrolling interest of $20.7 million, or $0.47 basic earnings per Class A share;

•

Net cash provided by operating activities of $198.7 million;

•

Adjusted EBITDA of $239.0 million;

•

Distributable cash flow of $196.6 million;

•

Cash distribution of $0.5851 per Class A share declared on April 24, 2023, an approximate 2.7% increase in the quarterly distribution per Class A share for the first quarter of 2023 as compared with the fourth quarter of 2022. The increase consists of an approximate 1.5% increase in the Company’s distribution level per Class A share in addition to the quarterly 1.2% increase per Class A share consistent with its target of at least 5% growth in annual distributions per Class A share.

Revenues and other income in the first quarter of 2023 were $305.0 million compared with $312.4 million in the prior-year quarter. While physical volumes for gas gathering and processing and tariff rates were higher in the first quarter of 2023 compared with the prior-year quarter, revenues and other income were down $7.4 million due to the transition from higher minimum volume commitment (“MVC”) levels in 2022 to lower MVC levels in 2023 with actual physical volumes that are at or above MVCs in 2023. Total operating costs and expenses in the first quarter of 2023 were $116.3 million, relatively flat compared with $116.9 million in the prior-year quarter, as higher depreciation and operating and maintenance expenses on our expanding gathering infrastructure were offset by lower pass-through costs. Interest expense in the first quarter of 2023 was $41.6 million, up from $31.3 million in the prior-year quarter primarily attributable to the $400.0 million 5.50% fixed-rate senior notes issued in April of 2022 and higher interest rates on the Term Loan A credit facility. As a result, consolidated net income decreased $17.4 million while Adjusted EBITDA decreased $2.6 million for the first quarter of 2023 compared with the first quarter of 2022.

Throughput volumes increased 7% for gas processing and 6% for gas gathering in the first quarter of 2023 compared with the first quarter of 2022 primarily due to higher gas capture. Water gathering volumes increased 10% reflecting continued steady organic growth of our water handling business. Throughput volumes in the first quarter of 2023 compared with the first quarter of 2022 decreased 8% for crude oil gathering and 4% for terminaling due to lower production and lower third‑party volumes.

For additional discussion of the results of operations at the segment level, see “Results of Operations” below. For additional information regarding Adjusted EBITDA and distributable cash flow, our non‑GAAP financial measures, see “How We Evaluate Our Operations” and “Reconciliation of Non‑GAAP Financial Measures” below.

PART I – FINANCIAL INFORMATION (CONT’D)

How We Generate Revenues

We generate substantially all of our revenues by charging fees for gathering, compressing and processing natural gas and fractionating NGLs; gathering, terminaling, loading and transporting crude oil and NGLs; storing and terminaling propane; and gathering and disposing of produced water. We have entered into long‑term, fee‑based commercial agreements with Hess effective January 1, 2014, for oil and gas services agreements, and effective January 1, 2019, for water services agreements.

Except for the water services agreements and except for a certain gathering sub-system, as described below, each of our commercial agreements with Hess has an initial 10-year term (“Initial Term”) and we have the unilateral right to renew each of these agreements for one additional 10-year term (“Secondary Term”). In September 2018, we amended our gas gathering and gas processing and fractionation agreements to enable us to provide certain services to Hess in respect of volumes to be delivered to and processed at the LM4 plant. The amended and restated gas gathering agreement also extends the Initial Term of the gathering agreement with respect to a certain gathering sub-system by 5 years to provide for a 15-year Initial Term and decreases the secondary term for that gathering sub-system by 5 years to provide for a 5-year Secondary Term. Initial Term for the water services agreements is 14 years and the Secondary Term is 10 years. On December 30, 2020, we exercised our renewal options to extend the terms of certain crude oil gathering, terminaling, storage, gas processing and gas gathering commercial agreements with Hess for the Secondary Term through December 31, 2033. There were no changes to any provisions of the existing commercial agreements as a result of the exercise of the renewal options. For the remaining water gathering and disposal agreements as well as the remaining gas gathering agreement, we have the sole option to renew these agreements for an additional term that is exercisable at a later date.

These agreements include dedications covering substantially all of Hess’ existing and future owned or controlled production in the Bakken, minimum volume commitments, inflation escalators and fee recalculation mechanisms, all of which are intended to provide us with cash flow stability and growth, as well as downside risk protection. In particular, Hess’ minimum volume commitments under our commercial agreements provide minimum levels of cash flows and the fee recalculation mechanisms under the agreements allow fees to be adjusted annually to provide us with cash flow stability during the initial term of the agreements. During the Secondary Term of the agreements, the fee recalculation model will be replaced by an inflation-based fee structure. See Note 3, Related Party Transactions for additional description of our commercial agreements.

Our revenues also include revenues from third-party volumes contracted with Hess and delivered to us under these commercial agreements with Hess, as well as pass-through third-party rail transportation costs, third-party produced water trucking and disposal costs, electricity fees and certain other third-party fees, for which we recognize revenues in an amount equal to the costs. Together with Hess, we are pursuing strategic relationships with third-party producers and other midstream companies with operations in the Bakken in order to maximize our utilization rates.

How We Evaluate Our Operations

Our management uses a variety of financial and operating metrics to analyze our operating results and profitability. These metrics include (i) volumes, (ii) operating and maintenance expenses, (iii) Adjusted EBITDA, and (iv) distributable cash flow.

Volumes. The amount of revenues we generate primarily depends on the volumes of crude oil, natural gas, NGLs and produced water that we handle at our gathering, processing, terminaling, storage facilities and disposal facilities. These volumes are affected primarily by the supply of and demand for crude oil, natural gas and NGLs in the markets served directly or indirectly by our assets, including changes in crude oil prices, which may further affect volumes delivered by Hess. Although Hess has committed to minimum volumes under our commercial agreements described above, our results of operations will be impacted by our ability to:

•

utilize the remaining uncommitted capacity on, or add additional capacity to, our existing assets, and optimize our existing assets;

•

identify and execute expansion projects, and capture incremental throughput volumes from Hess and third parties for these expanded facilities;

•

increase throughput volumes at our Ramberg Terminal Facility, Tioga Rail Terminal and the Johnson’s Corner Header System by interconnecting with new or existing third‑party gathering pipelines; and

•

increase gas throughput volumes by interconnecting with new or existing third‑party gathering pipelines.

PART I – FINANCIAL INFORMATION (CONT’D)

Operating and Maintenance Expenses. Our management seeks to maximize the profitability of our operations by effectively managing operating and maintenance expenses. These expenses are comprised primarily of costs charged to us under our omnibus agreement and employee secondment agreement, third‑party contractor costs, utility costs, insurance premiums, third‑party service provider costs, related property taxes and other non‑income taxes and maintenance expenses, such as expenditures to repair, refurbish and replace storage facilities and to maintain equipment reliability, integrity and safety. These expenses generally remain relatively stable across broad ranges of throughput volumes but can fluctuate from period to period depending on the mix of activities performed during that period and the timing of substantial expenses, such as gas plant turnarounds. We seek to manage our maintenance expenditures by scheduling periodic maintenance on our assets in order to minimize significant variability in these expenditures and minimize their impact on our cash flow.

Adjusted EBITDA and Distributable Cash Flow. We define Adjusted EBITDA as net income (loss) before net interest expense, income tax expense (benefit), depreciation and amortization and our proportional share of depreciation of our equity affiliates, as further adjusted to eliminate the impact of certain items that we do not consider indicative of our ongoing operating performance, such as transaction costs, other income and other non‑cash and non‑recurring items, if applicable. We define distributable cash flow as Adjusted EBITDA less net interest, excluding amortization of deferred financing costs, cash paid for federal and state income taxes and maintenance capital expenditures. Distributable cash flow does not reflect changes in working capital balances. We use Adjusted EBITDA and distributable cash flow to analyze our liquidity and performance.

Adjusted EBITDA and distributable cash flow are non‑GAAP supplemental financial measures that management and external users of our consolidated financial statements, such as industry analysts, investors, lenders and rating agencies, may use to assess:

•

our operating performance as compared to other publicly traded companies in the midstream energy industry, without regard to historical cost basis or, in the case of Adjusted EBITDA, financing methods;

•

the ability of our assets to generate sufficient cash flow to make distributions to our shareholders;

•

our ability to incur and service debt and fund capital expenditures; and

•

the viability of acquisitions and other capital expenditure projects and the returns on investment of various investment opportunities.

We believe that the presentation of Adjusted EBITDA and distributable cash flow provides useful information to investors in assessing our financial condition and results of operations. The GAAP measures most directly comparable to Adjusted EBITDA and distributable cash flow are net income (loss) and net cash provided by (used in) operating activities. Adjusted EBITDA and distributable cash flow should not be considered as alternatives to GAAP net income (loss), income (loss) from operations, net cash provided by (used in) operating activities or any other measure of financial performance or liquidity presented in accordance with GAAP. Adjusted EBITDA and distributable cash flow have important limitations as analytical tools because they exclude some but not all items that affect net income and net cash provided by operating activities. You should not consider Adjusted EBITDA or distributable cash flow in isolation or as a substitute for analysis of our results as reported under GAAP. Additionally, because Adjusted EBITDA and distributable cash flow may be defined differently by other companies in our industry, our definition of Adjusted EBITDA and distributable cash flow may not be comparable to similarly titled measures of other companies, thereby diminishing their utility.

PART I – FINANCIAL INFORMATION (CONT’D)

Results of Operations

Three Months Ended March 31, 2023 Compared to Three Months Ended March 31, 2022

Results of operations for the three months ended March 31, 2023 and 2022 are presented below (in millions, unless otherwise noted).


For the Three Months Ended March 31, 2023	Gathering		Processing and Storage		Terminaling and Export		Interest and Other			Consolidated Hess Midstream LP
Revenues
Affiliate services	$	164.4	$	113.8	$	25.2	$	-		$	303.4
Other income		0.3		0.6		0.7		-			1.6
Total revenues		164.7		114.4		25.9		-			305.0
Costs and expenses
Operating and maintenance expenses (exclusive of depreciation shown separately below)		38.4		20.2		3.9		-			62.5
Depreciation expense		28.8		14.5		4.1		-			47.4
General and administrative expenses		2.4		1.2		0.3		2.5			6.4
Total operating costs and expenses		69.6		35.9		8.3		2.5			116.3
Income (loss) from operations		95.1		78.5		17.6		(2.5	)		188.7
Income from equity investments		-		1.6		-		-			1.6
Interest expense, net		-		-		-		41.6			41.6
Income (loss) before income tax expense (benefit)		95.1		80.1		17.6		(44.1	)		148.7
Income tax expense (benefit)		-		-		-		6.5			6.5
Net income (loss)		95.1		80.1		17.6		(50.6	)		142.2
Less: Net income (loss) attributable to noncontrolling interest		77.7		65.6		14.3		(36.1	)		121.5
Net income (loss) attributable to Hess Midstream LP	$	17.4	$	14.5	$	3.3	$	(14.5	)	$	20.7

Throughput volumes
Gas gathering (MMcf/d)		347									347
Crude oil gathering (MBbl/d)		93									93
Gas processing (MMcf/d)				338							338
Crude oil terminaling (MBbl/d)						104					104
NGL loading (MBbl/d)						9					9
Water gathering (MBbl/d)		79									79

(1) Million cubic feet per day

(2) Thousand barrels per day

PART I – FINANCIAL INFORMATION (CONT’D)


For the Three Months Ended March 31, 2022	Gathering		Processing and Storage		Terminaling and Export		Interest and Other			Consolidated Hess Midstream LP
Revenues
Affiliate services	$	163.6	$	113.8	$	34.7	$	-		$	312.1
Other income		-		-		0.3		-			0.3
Total revenues		163.6		113.8		35.0		-			312.4
Costs and expenses
Operating and maintenance expenses (exclusive of depreciation shown separately below)		37.0		20.7		8.8		-			66.5
Depreciation expense		25.9		14.4		4.1		-			44.4
General and administrative expenses		2.5		1.0		0.2		2.3			6.0
Total operating costs and expenses		65.4		36.1		13.1		2.3			116.9
Income (loss) from operations		98.2		77.7		21.9		(2.3	)		195.5
Income from equity investments		-		0.4		-		-			0.4
Interest expense, net		-		-		-		31.3			31.3
Income (loss) before income tax expense (benefit)		98.2		78.1		21.9		(33.6	)		164.6
Income tax expense (benefit)		-		-		-		5.0			5.0
Net Income (loss)		98.2		78.1		21.9		(38.6	)		159.6
Less: Net income (loss) attributable to noncontrolling interest		85.2		67.7		19.0		(29.2	)		142.7
Net income (loss) attributable to Hess Midstream LP	$	13.0	$	10.4	$	2.9	$	(9.4	)	$	16.9

Throughput volumes
Gas gathering (MMcf/d)		326									326
Crude oil gathering (MBbl/d)		101									101
Gas processing (MMcf/d)				316							316
Crude oil terminaling (MBbl/d)						108					108
NGL loading (MBbl/d)						14					14
Water gathering (MBbl/d)		72									72

(1) Million cubic feet per day

(2) Thousand barrels per day

Gathering

Revenues and other income increased $1.1 million in the first quarter of 2023 compared to the first quarter of 2022, of which $12.1 million is attributable to higher tariff rates, $1.3 million is attributable to higher pass-through revenues; $1.0 million is attributable to higher water gathering and disposal revenue and $0.3 million is attributable to other income. This increase is partially offset by $8.0 million attributable to lower gas gathering volumes where actual physical volumes were above MVCs in the first quarter of 2023 and below MVCs in the first quarter of 2022, with MVC levels in 2023 lower than in 2022. The remaining decrease of $5.6 million is attributable to lower crude oil gathering volumes, as actual physical volumes were below MVCs in the first quarter of 2022 and remained below MVCs in the first quarter of 2023, with MVC levels in 2023 lower than in 2022.

Operating and maintenance expenses increased $1.4 million primarily attributable to higher pass-through costs, including produced water trucking and disposal and electricity fees. Depreciation expense increased $2.9 million due to new compressors, produced water disposal facilities and other new gathering assets brought into service.

PART I – FINANCIAL INFORMATION (CONT’D)

Processing and Storage

Revenues and other income increased $0.6 million in the first quarter of 2023 compared to the first quarter of 2022, of which $1.8 million is attributable to higher tariff rates and $0.6 million is attributable to other income. This increase is partially offset by $1.4 million attributable to lower gas processing volumes where actual physical volumes were above MVCs in the first quarter of 2023 and below MVCs in the first quarter of 2022, with MVC levels in 2023 lower than in 2022. The remaining decrease of $0.4 million is attributable to lower pass-through revenue.

Total operating costs and expenses in the Processing and Storage segment were relatively flat in the first quarter of 2023 compared to the first quarter of 2022.

Income from equity investments increased $1.2 million in the first quarter of 2023 compared to the first quarter of 2022 primarily due to higher volumes processed at the LM4 plant.

Terminaling and Export

Revenues and other income decreased $9.1 million in the first quarter of 2023 compared to the first quarter of 2022, of which $6.5 million is attributable to lower volumes, as actual physical volumes were below MVCs in the first quarter of 2022 and remained below MVCs in the first quarter of 2023, with MVC levels in 2023 lower than in 2022. Additionally, $6.1 million of the decrease is attributable to lower rail transportation pass-through revenues. This decrease was partially offset by $3.5 million attributable to higher tariff rates and other income.

Operating and maintenance expenses decreased $4.9 million, of which $6.1 million is attributable to lower rail transportation pass-through costs, partially offset by $1.2 million higher other operating costs.

Interest and Other

Interest expense, net of interest income, increased $10.3 million in the first quarter of 2023 compared to the first quarter of 2022, primarily attributable to the $400.0 million 5.50% fixed-rate senior notes issued in April 2022 and higher interest rates on the Term Loan A credit facility. Income tax expense increased $1.5 million in the same period driven by increased ownership of the Partnership by Hess Midstream LP following equity offering and unit repurchase transactions in 2022.

PART I – FINANCIAL INFORMATION (CONT’D)

Other Factors Expected to Significantly Affect Our Future Results

We currently generate substantially all of our revenues under fee‑based commercial agreements with Hess, including third parties contracted with affiliates of Hess. These contracts provide cash flow stability and minimize our direct exposure to commodity price fluctuations, since we generally do not own any of the crude oil, natural gas, or NGLs that we handle and do not engage in the trading of crude oil, natural gas, or NGLs. However, commodity price fluctuations indirectly influence our activities and results of operations over the long-term, since they can affect production rates and investments by Hess and third parties in the development of new crude oil and natural gas reserves. The markets for oil and natural gas are volatile and will likely continue to be volatile in the future. In the second quarter of 2020, as a result of the sharp decline in crude oil prices, Hess reduced its rig count from six rigs to one rig in the Bakken. In addition, third parties in the Bakken also curtailed production and reduced drilling activity. Our contract structure has largely offset and is expected to continue to offset potential impact of the reduction in volumes on our financial performance metrics through the Initial Term of our commercial agreements, as our minimum volume commitments provide minimum levels of cash flows and the fee recalculation mechanisms under our agreements support our cash flow stability. Subsequently, Hess increased its rig count in the Bakken to three operated rigs in September 2021 and to four operated rigs in July 2022. To the extent our plans include revenues for volumes above currently established MVC levels, such revenues could decline to the MVC levels as a result of market volatility. All volumes are expected to be approximately at or above MVC levels in 2023 on a full year basis, followed by growing volumes above currently established MVC levels in 2024 and 2025.

The throughput volumes at our facilities depend primarily on the volumes of crude oil and natural gas produced by Hess in the Bakken, which, in turn, is ultimately dependent on Hess’ exploration and production margins. Exploration and production margins depend on the price of crude oil, natural gas, and NGLs. These prices are volatile and influenced by numerous factors beyond our or Hess’ control, including the domestic and global supply of and demand for crude oil, natural gas and NGLs. During the first quarter of 2020, worldwide crude oil prices declined significantly due in part to reduced global demand stemming from the COVID-19 global pandemic. Sustained periods of low prices for oil and natural gas could materially and adversely affect the quantities of oil and natural gas that Hess can economically produce. The commodities trading markets, as well as global and regional supply and demand factors, may also influence the selling prices of crude oil, natural gas and NGLs.

The Secondary Term of our commercial agreements includes continuing MVCs while the fees change to a fixed fee structure based on the average fees paid by Hess during the last three years of the Initial Term of the commercial agreements adjusted annually for inflation up to 3% a year. Such a fee structure may provide less downside risk protection in the future. Furthermore, our ability to execute our growth strategy in the Bakken, including attracting third-party volumes, will depend on crude oil and natural gas production in that area, which is also affected by the supply of and demand for crude oil and natural gas.

PART I – FINANCIAL INFORMATION (CONT’D)

Reconciliation of Non‑GAAP Financial Measures

The following table presents a reconciliation of Adjusted EBITDA and distributable cash flow to net income and net cash provided by operating activities, the most directly comparable GAAP financial measures, for each of the periods indicated.


	March 31,
(in millions)	2023			2022
Reconciliation of Adjusted EBITDA and Distributable Cash Flow to net income:
Net income	$	142.2		$	159.6
Plus:
Depreciation expense		47.4			44.4
Proportional share of equity affiliates' depreciation		1.3			1.3
Interest expense, net		41.6			31.3
Income tax expense (benefit)		6.5			5.0
Adjusted EBITDA	$	239.0		$	241.6
Less:
Interest, net(1)		39.5		$	29.3
Maintenance capital expenditures		2.9			0.7
Distributable cash flow	$	196.6		$	211.6

Reconciliation of Adjusted EBITDA and Distributable Cash Flow to net cash provided by operating activities:
Net cash provided by operating activities	$	198.7		$	190.6
Changes in assets and liabilities		1.1			25.2
Amortization of deferred financing costs		(2.1	)		(2.0	)
Proportional share of equity affiliates' depreciation		1.3			1.3
Interest expense, net		41.6			31.3
Distribution from equity investments		(2.6	)		(4.7	)
Earnings from equity investments		1.6			0.4
Other		(0.6	)		(0.5	)
Adjusted EBITDA	$	239.0		$	241.6
Less:
Interest, net(1)		39.5			29.3
Maintenance capital expenditures		2.9			0.7
Distributable cash flow	$	196.6		$	211.6

(1)

Excludes amortization of deferred financing costs.

PART I – FINANCIAL INFORMATION (CONT’D)

Capital Resources and Liquidity

We expect our ongoing sources of liquidity to include:

•

cash on hand;

•

cash generated from operations;

•

borrowings under our revolving credit facility;

•

issuances of additional debt securities; and

•

issuances of additional equity securities.

We believe that cash generated from these sources will be sufficient to meet our operating requirements, our planned short‑term capital expenditures, debt service requirements, our quarterly cash distribution requirements, future internal growth projects or potential acquisitions.

Our partnership agreement requires that we distribute all of our available cash, as defined in the agreement, to our shareholders. On April 24, 2023, we declared a quarterly cash distribution of $0.5851 per Class A share, to be paid on May 12, 2023 to shareholders of record on May 4, 2023. Simultaneously, the Partnership will make a distribution of $0.5851 per Class B unit of the Partnership to the Sponsors.

Fixed‑Rate Senior Notes

The notes described above are guaranteed by certain subsidiaries of the Partnership. Each of the indentures for the senior notes described above contains customary covenants that restrict our ability and the ability of our restricted subsidiaries to (i) declare or pay any dividend or make any other restricted payments; (ii) transfer or sell assets or subsidiary stock; (iii) incur additional debt; or (iv) make restricted investments, unless, at the time of and immediately after giving pro forma effect to such restricted payments and any related incurrence of indebtedness or other transactions, no default has occurred and is continuing or would occur as a consequence of such restricted payment and if the leverage ratio does not exceed 4.25 to 1.00. As of March 31, 2023, we were in compliance with all debt covenants under the indentures.

In addition, the covenants included in the indentures governing the senior notes contain provisions that allow the Company to satisfy the Partnership’s reporting obligations under the indenture, as long as any such financial information of the Company contains information reasonably sufficient to identify the material differences, if any, between the financial information of the Company, on the one hand, and the Partnership and its subsidiaries on a stand-alone basis, on the other hand and the Company does not directly own capital stock of any person other than the Partnership and its subsidiaries, or material business operations that would not be consolidated with the financial results of the Partnership and its subsidiaries. The Company is a holding company and has no independent assets or operations. Other than the interest in the Partnership and the effect of federal and state income taxes that are recognized at the Company level, there are no material differences between the consolidated financial statements of the Partnership and the consolidated financial statements of the Company.

PART I – FINANCIAL INFORMATION (CONT’D)

Credit Facilities

The Credit Facilities can be used for borrowings and letters of credit for general corporate purposes. The Credit Facilities are guaranteed by each direct and indirect wholly owned material domestic subsidiary of the Partnership, and are secured by first priority perfected liens on substantially all of the presently owned and after-acquired assets of the Partnership and its direct and indirect wholly owned material domestic subsidiaries, including equity interests directly owned by such entities, subject to certain customary exclusions. The Credit Facilities contain representations and warranties, affirmative and negative covenants and events of default that the Partnership considers to be customary for an agreement of this type, including a covenant that requires the Partnership to maintain a ratio of total debt to EBITDA (as defined in the Credit Facilities) for the prior four fiscal quarters of not greater than 5.00 to 1.00 as of the last day of each fiscal quarter (5.50 to 1.00 during the specified period following certain acquisitions) and, prior to the Partnership obtaining an investment grade credit rating, a ratio of secured debt to EBITDA for the prior four fiscal quarters of not greater than 4.00 to 1.00 as of the last day of each fiscal quarter. As of March 31, 2023, we were in compliance with these financial covenants.

Cash Flows

Operating Activities. Net cash provided by operating activities increased $8.1 million for the three months ended March 31, 2023 compared to the same period in 2022. The change in operating cash flows resulted primarily from an increase in cash provided by changes in working capital of $24.1 million, partially offset by a decrease in revenues and other income of $7.4 million, an increase in expenses, other than depreciation, amortization, equity-based compensation and other non-cash gains and losses of $6.5 million, and a decrease in distributions received from equity investments of $2.1 million.

Investing Activities. Net cash used in investing activities increased $9.5 million for the three months ended March 31, 2023 compared to the same period in 2022 driven by higher payments for additions to property, plant, and equipment.

Financing Activities. Net cash used in financing activities decreased $1.1 million for the three months ended March 31, 2023 compared to the same period in 2022. In the first three months of 2023, we used $100.0 million to repurchase Class B units of the Partnership and paid higher distributions to shareholders and noncontrolling interest of $5.7 million and higher transaction costs of $0.2 million compared to the same period in 2022. Our net proceeds from bank borrowings were $107.0 million higher in the first three months of 2023 compared to the same period in 2022.

PART I – FINANCIAL INFORMATION (CONT’D)

Capital Expenditures

Our operations can be capital intensive, requiring investments to expand, upgrade, maintain or enhance existing operations and to meet environmental and operational regulations. Our partnership agreement requires that we distinguish between maintenance capital expenditures and expansion capital expenditures. Maintenance capital expenditures are capital expenditures made to maintain, over the long term, our operating capacity, operating income or revenue. Examples of maintenance capital expenditures are expenditures to repair, refurbish or replace existing assets, to maintain equipment reliability, integrity and safety and to address environmental laws and regulations. In contrast, expansion capital expenditures are expenditures incurred for acquisitions or capital improvements that we expect will increase our operating capacity, operating income or revenue over the long term. Examples of expansion capital expenditures include the acquisition of equipment, construction, development or acquisition of additional capacity, or expenditures for connecting additional wells to our gathering systems, to the extent such capital expenditures are expected to expand our long‑term operating capacity, operating income or revenue.

The following table sets forth a summary of maintenance and expansion capital expenditures and reconciles capital expenditures on an accrual basis to additions to property, plant and equipment on a cash basis:


	Three Months Ended March 31,
	2023		2022
(in millions)
Expansion capital expenditures	$	54.4	$	36.4
Maintenance capital expenditures		2.9		0.7
Total capital expenditures		57.3		37.1
(Increase) decrease in accrued capital expenditures		2.2		10.1
(Increase) decrease in capital expenditures included in accounts payable - affiliate		4.8		7.6
Additions to property, plant and equipment	$	64.3	$	54.8

Capital expenditures in 2023 are primarily attributable to continued expansion of our compression capacity and gas capture capabilities to meet Hess’ and third parties’ current and future production growth and gas capture targets. The activities focus on the construction of two new compressor stations and associated pipeline infrastructure, which are expected to be placed in service later in 2023 and provide, in aggregate, an additional 100 MMcf/d of gas compression capacity when brought online. Capital expenditures in 2022 were also attributable to continued expansion of our compression capacity.

PART I – FINANCIAL INFORMATION (CONT’D)

Cautionary Note Regarding Forward-looking Information

This Quarterly Report on Form 10‑Q, including information incorporated by reference herein, contains “forward-looking statements” within the meaning of U.S. federal securities laws. Words such as “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “would,” “believe,” “intend,” “project,” “plan,” “predict,” “will,” “target” and similar expressions identify forward-looking statements, which are not historical in nature. Our forward-looking statements may include, without limitation: our future financial and operational results; our business strategy; our industry; our expected revenues; our future profitability; our maintenance or expansion projects; our projected budget and capital expenditures and the impact of such expenditures on our performance; and future economic and market conditions in the oil and gas industry.

Forward-looking statements are based on our current understanding, assessments, estimates and projections of relevant factors and reasonable assumptions about the future. Forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from our historical experience and our current projections or expectations of future results expressed or implied by these forward-looking statements. The following important factors could cause actual results to differ materially from those in our forward-looking statements:

•

the ability of Hess and other parties to satisfy their obligations to us, including Hess’ ability to meet its drilling and development plans on a timely basis or at all, its ability to deliver its nominated volumes to us, and the operation of joint ventures that we may not control;

•

our ability to generate sufficient cash flow to pay current and expected levels of distributions;

•

reductions in the volumes of crude oil, natural gas, NGLs and produced water we gather, process, terminal or store;

•

the actual volumes we gather, process, terminal and store for Hess in excess of our MVCs and relative to Hess' nominations;

•

fluctuations in the prices and demand for crude oil, natural gas and NGLs;

•

changes in global economic conditions and the effects of a global economic downturn or inflation on our business and the business of our suppliers, customers, business partners and lenders;

•

the direct and indirect effects of an epidemic or outbreak of an infectious disease, such as COVID-19 and its variants, on our business and those of our business partners, suppliers and customers, including Hess;

•

our ability to comply with government regulations or make capital expenditures required to maintain compliance, including our ability to obtain or maintain permits necessary for capital projects in a timely manner, if at all, or the revocation or modification of existing permits;

•

our ability to successfully identify, evaluate and timely execute our capital projects, investment opportunities and growth strategies, whether through organic growth or acquisitions;

•

costs or liabilities associated with federal, state and local laws, regulations and governmental actions applicable to our business, including legislation and regulatory initiatives relating to environmental protection and health and safety, such as spills, releases, pipeline integrity and measures to limit greenhouse gas emissions and climate change;

•

our ability to comply with the terms of our credit facility, indebtedness and other financing arrangements, which, if accelerated, we may not be able to repay;

•

reduced demand for our midstream services, including the impact of weather or the availability of the competing third-party midstream gathering, processing and transportation operations;

•

potential disruption or interruption of our business due to catastrophic events, such as accidents, severe weather events, labor disputes, information technology failures, constraints or disruptions and cyber-attacks;

•

any limitations on our ability to access debt or capital markets on terms that we deem acceptable, including as a result of weakness in the oil and gas industry or negative outcomes within commodity and financial markets;

•

liability resulting from litigation; and

•

other factors described in Item 1A—Risk Factors in our Annual Report on Form 10-K, as well as any additional risks described in our other filings with the Securities and Exchange Commission.

As and when made, we believe that our forward-looking statements are reasonable. However, given these risks and uncertainties, caution should be taken not to place undue reliance on any such forward-looking statements since such statements speak only as of the date when made and there can be no assurance that such forward-looking statements will occur and actual results may differ materially from those contained in any forward-looking statement we make. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.

PART I – FINANCIAL INFORMATION (CONT’D)

Item 3. Quantitative and Qualitative Disclosures about Market Risk

Market risk is the risk of loss arising from adverse changes in market rates and prices. We generally do not take ownership of the crude oil, natural gas or NGLs that we currently gather, process, terminal, store or transport for our customers. Because we generate substantially all of our revenues by charging fees under long-term commercial agreements with Hess with minimum volume commitments, Hess bears the risks associated with fluctuating commodity prices and we have minimal direct exposure to commodity prices.

In the normal course of our business, we are exposed to market risks related to changes in interest rates. Our financial risk management activities may include transactions designed to reduce risk by reducing our exposure to interest rate movements. Interest rate swaps may be used to convert interest payments on certain long‑term debt. At March 31, 2023, we did not have in place any derivative instruments to hedge any exposure to changes in interest rates.

At March 31, 2023, our total debt had a carrying value of $2,990.1 million and a fair value of approximately $2,884.3 million, based on Level 2 inputs in the fair value measurement hierarchy. A 15% increase or decrease in interest rates would decrease or increase the fair value of our fixed rate debt by approximately $95.2 million or $100.3 million, respectively. The carrying value of the amounts under our Term Loan A facility and revolving credit facility at the quarter-end approximated their fair value. Any changes in interest rates do not impact cash outflows associated with fixed rate interest payments or settlement of debt principal, unless a debt instrument is repurchased prior to maturity. Our exposure to market risk related to changes in interest rates has not materially changed from what we previously disclosed in our 2022 Annual Report.

Item 4. Controls and Procedures

Based upon their evaluation of the Company’s disclosure controls and procedures (as defined in Exchange Act Rules 13a‑15(e) and 15d‑15(e)) as of March 31, 2023, John B. Hess, Chief Executive Officer, and Jonathan C. Stein, Chief Financial Officer, concluded that these disclosure controls and procedures were effective as of March 31, 2023.

There was no change in internal control over financial reporting, as defined in Rules 13a‑15(f) and 15d‑15(f) under the Exchange Act, in the quarter ended March 31, 2023 that has materially affected, or is reasonably likely to materially affect, internal control over financial reporting.

PART II – OTHER INFORMATION

Item 1. Legal Proceedings

Information regarding legal proceedings is contained in Note 10, Commitments and Contingencies in the Notes to Consolidated Financial Statements and is incorporated herein by reference.

Item 1A. Risk Factors

Part I, Item 1A. Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2022 includes certain risk factors that could materially affect our business, financial condition, or future results. Those risk factors have not materially changed.

PART II – OTHER INFORMATION (CONT'D)

Item 6. Exhibits


a.	Exhibits

	10.1	Unit Repurchase Agreement, dated as of March 27, 2023, by and among Hess Midstream LP, Hess Midstream Operations LP, Hess Investments North Dakota LLC and GIP II Blue Holding, L.P. (incorporated by reference herein to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on March 30, 2023)
	31.1	Certification required by Rule 13a‑14(a) (17 CFR 240.13a‑14(a)) or Rule 15d‑14(a) (17 CFR 240.15d‑14(a))
	31.2	Certification required by Rule 13a‑14(a) (17 CFR 240.13a‑14(a)) or Rule 15d‑14(a) (17 CFR 240.15d‑14(a))
	32.1*	Certification required by Rule 13a‑14(b) (17 CFR 240.13a‑14(b)) or Rule 15d‑14(b) (17 CFR 240.15d‑14(b)) and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350)
	32.2*	Certification required by Rule 13a‑14(b) (17 CFR 240.13a‑14(b)) or Rule 15d‑14(b) (17 CFR 240.15d‑14(b)) and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350)
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* Furnished herewith

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


HESS MIDSTREAM LP (Registrant)

By: HESS MIDSTREAM GP LP, its General Partner

By: HESS MIDSTREAM GP LLC, its General Partner

By		/s/ John B. Hess
		John B. Hess
		Chairman of the Board of Directors and Chief Executive Officer

By		/s/ Jonathan C. Stein
		Jonathan C. Stein
		Chief Financial Officer

Date: May 3, 2023

EX-31 2 hesm-ex31_1.htm EX-31.1 EX-31

Exhibit 31.1

CERTIFICATION PURSUANT TO SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

I, John B. Hess, certify that:

1. I have reviewed this quarterly report on Form 10‑Q of Hess Midstream LP;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a‑15(e) and 15d‑15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a–15(f) and 15d–15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 3, 2023


By		/s/ John B. Hess
		John B. Hess
		Chairman of the Board of Directors and
		Chief Executive Officer
		HESS MIDSTREAM GP LP, its General Partner
		HESS MIDSTREAM GP LLC, its General Partner

EX-31 3 hesm-ex31_2.htm EX-31.2 EX-31

Exhibit 31.2

CERTIFICATION PURSUANT TO SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

I, Jonathan C. Stein, certify that:

1. I have reviewed this quarterly report on Form 10‑Q of Hess Midstream LP;

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 3, 2023


By		/s/ Jonathan C. Stein
		Jonathan C. Stein
		Chief Financial Officer
		HESS MIDSTREAM GP LP, its General Partner
		HESS MIDSTREAM GP LLC, its General Partner

EX-32 4 hesm-ex32_1.htm EX-32.1 EX-32

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Hess Midstream LP (the “Partnership”) on Form 10‑Q for the period ended March 31, 2023 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, John B. Hess, Chairman of the Board of Directors and Chief Executive Officer of Hess Midstream GP LLC, the general partner of the Partnership, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes‑Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Partnership.

Date: May 3, 2023


By		/s/ John B. Hess
		John B. Hess
		Chairman of the Board of Directors and Chief Executive Officer
		HESS MIDSTREAM GP LP, its General Partner
		HESS MIDSTREAM GP LLC, its General Partner

A signed original of this written statement required by Section 906 has been provided to the Partnership and will be retained by the Partnership and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32 5 hesm-ex32_2.htm EX-32.2 EX-32

Exhibit 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Hess Midstream LP (the “Partnership”) on Form 10‑Q for the period ended March 31, 2023 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Jonathan C. Stein, Chief Financial Officer of Hess Midstream GP LLC, the general partner of the Partnership, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes‑Oxley Act of 2002, that:

(1)

The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2)

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Partnership.

Date: May 3, 2023


By		/s/ Jonathan C. Stein
		Jonathan C. Stein
		Chief Financial Officer
		HESS MIDSTREAM GP LP, its General Partner
		HESS MIDSTREAM GP LLC, its General Partner

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Processing and Fractionation Facilities Gas Gathering and Processing Equipment [Member] Accounts receivable – affiliate Increase (Decrease) in Due from Affiliates, Current Line of Credit Facility, Increase (Decrease), Net, Total Line of Credit Facility, Increase (Decrease), Net Increase of outstanding term loan facility Total liabilities Liabilities Document Period End Date Document Period End Date Noncontrolling interest percentage Limited Liability Company L L C Or Limited Partnership L P Managing Member Or General Partner Ownership Non Controlling Economic Interest Limited liability company LLC or limited partnership LP managing member or general partner ownership non-controlling economic interest. Dilutive Restricted Shares Restricted Stock [Member] LM4 Little Missouri Four [Member] Little Missouri four. Construction-In-Progress Construction in Progress [Member] Common unitholders Increase (decrease) common unitholders Limited Partners' Capital Account, Total Limited Partners' Capital Account Distributions Made To Limited Partner [Table] Distributions Made to Limited Partner [Table] Risks and Uncertainties [Abstract] Financial Data for Each Reportable Segment Schedule of Segment Reporting Information, by Segment [Table Text Block] Statistical Measurement Statistical Measurement [Axis] Accounts payable—affiliate Accounts Payable, Related Parties, Current Other current assets Other Assets, Current Equity Transactions Equity Method Investments [Table Text Block] Subsequent Event [Line Items] Subsequent Event [Line Items] Related Party Related Party [Axis] Total assets Total assets Assets Debt instrument covenant, description Debt Instrument, Covenant Description Costs and expenses Costs and Expenses [Abstract] Third Quarter Two Thousand Twenty One [Member] Third Quarter Two Thousand Twenty One [Member] Third Quarter 2021 Long-term Debt, Excluding Current Maturities, Total Long-term debt Long-Term Debt, Excluding Current Maturities 5.625% Fixed Rate Senior Unsecured Notes due 2026 Five Point Six Two Five Due In Two Thousand Twenty Six [Member] Five point six two five due in two thousand twenty six. 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Period of cash distribution to shareholders Period Of Distribution Of Cash To Shareholders Period of distribution of cash to shareholders. Proceeds from issuance of bonds Proceeds from Issuance of Debt Net income attributable to Hess Midstream LP per Class A share: Net Income Loss Per Outstanding Limited Partnership Unit [Abstract] Net income loss per outstanding limited partnership unit. Statistical Measurement Statistical Measurement [Domain] Class of Stock Class of Stock [Domain] First Quarter Two Thousand Twenty Two [Member] First Quarter Two Thousand Twenty Two [Member] First Quarter 2022 Accrued capital expenditures Accrued Capital Expenditures Current Accrued capital expenditures current. 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Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations, Total Cash and cash equivalents, beginning of period Cash and cash equivalents, end of period Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations Repurchase of shares Stock Repurchased During Period, Shares Other Assets, Noncurrent, Total Other noncurrent assets Other Assets, Noncurrent Entity Address, Address Line One Entity Address, Address Line One Noncontrolling Interest Noncontrolling Interest [Member] Accrued Liabilities, Current [Abstract] Minimum volume commitments, Description Related Party Transactions Minimum Volume Commitments Description Related party transactions minimum volume commitments description. 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Accounting Policies [Table] Accounting Policies [Table] Accounting policies. Entity Tax Identification Number Entity Tax Identification Number Consolidation Items Consolidation Items [Axis] Pipelines, Pipes and Valves Pipelines Pipes And Valves [Member] Pipelines, pipes and valves. Equipment Equipment [Member] Produced Water Trucking and Disposal Costs Reimbursement Of Third Party Produced Water Trucking And Disposal Costs [Member] Reimbursement of third party produced water trucking and disposal costs. Disaggregation Of Revenue [Table] Disaggregation of Revenue [Table] Net Income (Loss), Net of Tax, Per Outstanding Limited Partnership Unit, Diluted, Total Net income attributable to Hess Midstream LP per Class A share, Diluted Net Income (Loss), Net of Tax, Per Outstanding Limited Partnership Unit, Diluted Entity Emerging Growth Company Entity Emerging Growth Company Term Loan A Facility Term Loan A Facility [Member] Term loan A facility member. 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Entity Registrant Name Entity Registrant Name Cash and Cash Equivalents, at Carrying Value, Ending Balance Cash and Cash Equivalents, at Carrying Value, Beginning Balance Cash and Cash Equivalents, at Carrying Value, Total Cash and cash equivalents Cash and Cash Equivalents, at Carrying Value Earnings per Share Earnings Per Share [Text Block] Class of Stock Class of Stock [Axis] Revenues and other income Total revenues Revenues Share-based Payment Arrangement, Noncash Expense, Total Equity-based compensation expense Share-Based Payment Arrangement, Noncash Expense Property, Plant and Equipment, Net, Ending Balance Property, Plant and Equipment, Net, Beginning Balance Property, plant and equipment, net Property, plant and equipment, net Property, Plant and Equipment, Net Statement [Line Items] Statement [Line Items] Other income Other Income Title of 12(b) Security Title of 12(b) Security Distributions received from equity investments Distributions from equity investments Proceeds from Equity Method Investment, Distribution Cash flows from operating activities Net Cash Provided by (Used in) Operating Activities [Abstract] Summary of MVC Shortfall Fees Earned Summary Of M V C Shortfall Fees Earned Table [Text Block] Tabular disclosure of MVC shortfall fees earned. 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Transaction Costs Transaction costs Deferred financing costs Payments of Financing Costs Payments of Financing Costs, Total Accrued liabilities for legal contingencies Loss Contingency, Accrual, Current Security Exchange Name Security Exchange Name Class Of Stock [Line Items] Class of Stock [Line Items] Net cash provided by (used in) operating activities Net Cash Provided by (Used in) Operating Activities No of produced water released. No of Produced Water Released No of produced water released Commitments and Contingencies Disclosure [Abstract] Accrued interest Interest Payable, Current Total Class A and Class B partners' capital Partners Capital Excluding Accumulated Other Comprehensive Income Loss Net Of Tax Partners capital excluding accumulated other comprehensive income loss net of tax. Level 2 Fair Value, Inputs, Level 2 [Member] Property, Plant and Equipment, Gross, Period Increase (Decrease), Total Capital expenditures Property, Plant and Equipment, Gross, Period Increase (Decrease) Cash flows from investing activities Net Cash Provided by (Used in) Investing Activities [Abstract] Second Quarter 2022 Second Quarter Two Thousand Twenty Two [Member] Second Quarter Two Thousand Twenty Two Member Credit facility - maturity year Line Of Credit Facility Expiration Period Year Line Of Credit Facility Expiration Period Year Liabilities Liabilities [Abstract] Minimum Minimum [Member] Minimum [Member] Frequency of periodic interest payment Debt Instrument, Frequency of Periodic Payment Distributions to unitholders record date Record Date Distribution Made to Limited Partner, Date of Record Segments Segments [Domain] Targa Resources Corp. Targa Resources Corporation [Member] Targa resources corporation. Class B Shares Common Class B [Member] Class B Unit Total Accrued liabilities Accrued Liabilities, Current Debt Instrument Debt Instrument [Axis] Accounts payable – affiliate Increase (Decrease) in Due to Affiliates, Current Segments Segments [Axis] Revenues Revenues [Abstract] Dividends Dividends [Domain] Subsequent Event Subsequent Event [Member] Environmental Loss Contingency, Current, Statement of Financial Position [Extensible Enumeration] Environmental Loss Contingency, Current, Statement of Financial Position [Extensible Enumeration] Related Party Transaction Related Party Transaction [Domain] Deferred Tax Assets, Gross, Total Additions to deferred tax asset Deferred Tax Assets, Gross Repayments of Short-Term Debt, Maturing in More than Three Months Repayments Long-term Debt, Current Maturities, Total Current maturities of long-term debt Long-Term Debt, Current Maturities Water Gathering and Disposal Services Water Gathering And Disposal Services [Member] Water gathering and disposal services Long-term receivable—affiliate Advances to Affiliate Distributions to unitholders Limited Partners' Capital Account, Distribution Amount Entity Central Index Key Entity Central Index Key Equity-based compensation Partners' Capital Account, Unit-Based Payment Arrangement, Amount Accounting Policies [Abstract] Operating Costs and Expenses, Total Operating and maintenance expenses (exclusive of depreciation shown separately below) Operating Costs and Expenses Disaggregation Of Revenue [Line Items] Disaggregation of Revenue [Line Items] Terminaling and Export Services Terminaling And Export Services [Member] Terminaling and export services. 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Assets Assets [Abstract] Increase (Decrease) in Accrued Liabilities, Total Accrued liabilities Increase (Decrease) in Accrued Liabilities Terminaling and Export Terminaling And Export [Member] Terminaling and export. Secondary term of agreement Related Party Transactions Secondary Term Of Agreement Related party transactions, secondary term of agreement. Credit facility - Term Line of Credit Facility, Expiration Period Processing and Storage Services Processing And Storage Services [Member] Processing and storage services. Interest expense, net Interest Income (Expense), Nonoperating, Net Long-Lived Tangible Asset Long-Lived Tangible Asset [Axis] Concentration Risk Benchmark Concentration Risk Benchmark [Axis] Number of rights to extend the term of agreement Related Party Transactions Right To Extend Term Of Agreement Number Related party transactions, right to extend term of agreement, number. 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Entity Entity [Domain] Total partners' capital Balance, beginning of period Balance, end of period Partners' Capital, Including Portion Attributable to Noncontrolling Interest Transaction costs Payment of Transaction Costs Payment of transaction costs. Proceeds from (Repayments of) Short-term Debt, Maturing in Three Months or Less, Total Net proceeds from (repayments of) bank borrowings with maturities of 90 days or less Proceeds from (Repayments of) Short-Term Debt, Maturing in Three Months or Less Cover [Abstract] Revenues attributable to fee based commercial agreements Concentration risk, percentage Concentration Risk, Percentage Product and Service Product and Service [Domain] Measurement Basis Measurement Basis [Axis] Distribution Made To Limited Partner Increase In Percentage Than Prior Year Quarter Declared Distribution made to limited partner increase in percentage than prior year quarter declared. Distribution made to limited partner, approximate increase in percentage than prior year quarter declared Maximum Maximum [Member] Net cash provided by (used in) investing activities Net Cash Provided by (Used in) Investing Activities Gathering Opco Gathering [Member] Gathering. Partners' capital Partners' Capital [Abstract] Partners Capital Account Unit Repurchase Transaction Costs Partners capital account unit repurchase transaction costs. Class B unit repurchase transaction costs Interest rate applicable margin Debt Instrument, Basis Spread on Variable Rate Utility Plant Utility Plant [Domain] Fourth quarter two thousand twenty one. Fourth Quarter Two Thousand Twenty One [Member] Fourth Quarter 2021 Partners' Capital and Distributions Partners' Capital Notes Disclosure [Text Block] Accounts Receivable Accounts Receivable [Member] Accounts receivable—affiliate: Due from Related Parties, Current [Abstract] Property, plant and equipment, Estimated useful life Property, Plant and Equipment, Useful Life Terminal and Export Services Agreement Terminal And Export Services Agreement [Member] Terminal and export services agreement. Partner Type of Partners' Capital Account, Name [Domain] Trading Symbol Trading Symbol 5.125% Fixed Rate Senior Unsecured Notes due 2028 Five Point One Two Five Due In Two Thousand Twenty Eight [Member] Five point one two five due in two thousand twenty eight. Fee recalculation model description Related Party Transactions Terms Of Fee Recalculation Model Description Related party transactions terms of fee recalculation model description. Net Income (Loss), Per Outstanding Limited Partnership Unit, Basic, Net of Tax, Total Net income attributable to Hess Midstream LP per Class A share, Basic Net Income (Loss), Per Outstanding Limited Partnership Unit, Basic, Net of Tax Subsequent Event Type Subsequent Event Type [Axis] Common units issued Limited Partners' Capital Account, Units Issued Schedule Of Limited Partners Capital Account By Class [Table] Schedule of Limited Partners' Capital Account by Class [Table] Oil and Gas Gathering Services Oil and Gas Service [Member] Increase (Decrease) in Other Operating Assets, Total Other current and noncurrent assets Increase (Decrease) in Other Operating Assets Third quarter two thousand twenty two. 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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2023	Apr. 30, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Trading Symbol	HESM
Entity Registrant Name	Hess Midstream LP
Entity Central Index Key	0001789832
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	001-39163
Entity Tax Identification Number	84-3211812
Entity Address, Address Line One	1501 McKinney Street
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77010
City Area Code	713
Local Phone Number	496-4200
Entity Common Stock, Shares Outstanding		44,093,493
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE
Title of 12(b) Security	Class A shares representing limited partner interests
Security Exchange Name	NYSE
Entity Interactive Data Current	Yes

XML 12 R2.htm IDEA: XBRL DOCUMENT

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 3.6	$ 3.1
Accounts receivable—affiliate:
From contracts with customers	109.2	123.0
Other current assets	3.8	6.2
Total current assets	116.6	132.3
Equity investments	92.9	93.9
Property, plant and equipment, net	3,183.0	3,172.8
Long-term receivable—affiliate	0.5	0.7
Deferred tax asset	174.9	177.2
Other noncurrent assets	10.6	11.3
Total assets	3,578.5	3,588.2
Liabilities
Accounts payable—trade	39.8	35.0
Accounts payable—affiliate	19.2	27.7
Accrued liabilities	70.9	82.9
Current maturities of long-term debt	5.0	2.5
Other current liabilities	3.6	11.4
Total current liabilities	138.5	159.5
Long-term debt	2,985.1	2,883.1
Deferred tax liability	0.4	0.5
Other noncurrent liabilities	16.0	16.1
Total liabilities	3,140.0	3,059.2
Partners' capital
Total Class A and Class B partners' capital	227.9	245.1
Noncontrolling interest	210.6	283.9
Total partners' capital	438.5	529.0
Total liabilities and partners' capital	3,578.5	3,588.2
Class A Shares
Partners' capital
Common unitholders	$ 227.9	$ 245.1

XML 13 R3.htm IDEA: XBRL DOCUMENT

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - shares	Mar. 31, 2023	Dec. 31, 2022
Class A Shares
Common units issued	44,093,493	44,002,846
Common units outstanding	44,093,493	44,002,846
Class B Shares
Common units issued	192,228,352	195,847,606
Common units outstanding	192,228,352	195,847,606

XML 14 R4.htm IDEA: XBRL DOCUMENT

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenues
Affiliate services	$ 303.4	$ 312.1
Type of Revenue [Extensible List]	us-gaap:ServiceMember	us-gaap:ServiceMember
Other income	$ 1.6	$ 0.3
Total revenues	305.0	312.4
Costs and expenses
Operating and maintenance expenses (exclusive of depreciation shown separately below)	62.5	66.5
Depreciation expense	47.4	44.4
General and administrative expenses	6.4	6.0
Total operating costs and expenses	116.3	116.9
Income from operations	188.7	195.5
Income from equity investments	1.6	0.4
Interest expense, net	41.6	31.3
Income before income tax expense	148.7	164.6
Income tax expense	6.5	5.0
Net income	142.2	159.6
Less: Net income attributable to noncontrolling interest	121.5	142.7
Net income attributable to Hess Midstream LP	$ 20.7	$ 16.9
Class A Shares
Net income attributable to Hess Midstream LP per Class A share:
Net income attributable to Hess Midstream LP per Class A share, Basic	$ 0.47	$ 0.50
Net income attributable to Hess Midstream LP per Class A share, Diluted	$ 0.47	$ 0.49
Weighted average Class A shares outstanding
Weighted average Class A shares outstanding, Basic	44.0	33.7
Weighted average Class A shares outstanding, Diluted	44.1	33.8

XML 15 R5.htm IDEA: XBRL DOCUMENT

CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (UNAUDITED) - USD ($) $ in Millions	Total	Limited Partner Class A Shares	Noncontrolling Interest
Balance, beginning of period at Dec. 31, 2021	$ 753.1	$ 204.1	$ 549.0
Net income	159.6	16.9	142.7
Equity-based compensation	0.5	0.5
Distributions to unitholders	(131.0)	(17.5)	(113.5)
Transaction costs	(0.4)	(0.1)	(0.3)
Balance, end of period at Mar. 31, 2022	781.8	203.9	577.9
Balance, beginning of period at Dec. 31, 2022	529.0	245.1	283.9
Net income	142.2	20.7	121.5
Equity-based compensation	0.6	0.6
Distributions to unitholders	(136.7)	(25.1)	(111.6)
Recognition of deferred tax asset	4.3	4.3
Class B unit repurchase	(100.0)	(17.5)	(82.5)
Transaction costs	(0.9)	(0.2)	(0.7)
Balance, end of period at Mar. 31, 2023	$ 438.5	$ 227.9	$ 210.6

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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Organization, Consolidation and Presentation of Financial Statements [Abstract]

XML 16 R6.htm IDEA: XBRL DOCUMENT

CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Partners' Capital [Abstract]
Distributions to unitholders - per unit/share	$ 0.5696	$ 0.5167

XML 17 R7.htm IDEA: XBRL DOCUMENT

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities
Net income	$ 142.2	$ 159.6
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation expense	47.4	44.4
(Income) loss from equity investments	(1.6)	(0.4)
Distributions from equity investments	2.6	4.7
Amortization of deferred financing costs	2.1	2.0
Equity-based compensation expense	0.6	0.5
Deferred income tax expense (benefit)	6.5	5.0
Changes in assets and liabilities:
Accounts receivable – affiliate	14.0	(17.1)
Other current and noncurrent assets	2.5	4.0
Accounts payable – trade	4.8	8.7
Accounts payable – affiliate	(3.7)	(2.6)
Accrued liabilities	(10.5)	(11.0)
Other current and noncurrent liabilities	(8.2)	(7.2)
Net cash provided by (used in) operating activities	198.7	190.6
Cash flows from investing activities
Additions to property, plant and equipment	(64.3)	(54.8)
Net cash provided by (used in) investing activities	(64.3)	(54.8)
Cash flows from financing activities
Net proceeds from (repayments of) bank borrowings with maturities of 90 days or less	103.0	1.0
Bank borrowings with maturities of greater than 90 days
Repayments		(5.0)
Transaction costs	(0.2)
Class B unit repurchase	(100.0)
Distributions to shareholders/unitholders	(25.1)	(17.5)
Distributions to noncontrolling interest	(111.6)	(113.5)
Net cash provided by (used in) financing activities	(133.9)	(135.0)
Increase (decrease) in cash and cash equivalents	0.5	0.8
Cash and cash equivalents, beginning of period	3.1	2.2
Cash and cash equivalents, end of period	3.6	3.0
Supplemental disclosure of non-cash investing and financing activities:
(Increase) decrease in accrued capital expenditures and related liabilities	7.0	$ 17.7
Recognition of deferred tax asset	$ 4.3

XML 18 R8.htm IDEA: XBRL DOCUMENT

Basis of Presentation

3 Months Ended

Mar. 31, 2023

Basis of Presentation

Note 1. Basis of Presentation

Unless the context otherwise requires, references in this report to the “Company,” “we,” “our,” “us” or like terms, refer to Hess Midstream LP and its subsidiaries.

XML 19 R9.htm IDEA: XBRL DOCUMENT

Equity Transactions

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Equity Transactions

Note 2. Equity Transactions

XML 20 R10.htm IDEA: XBRL DOCUMENT

Related Party Transactions

3 Months Ended

Mar. 31, 2023

Related Party Transactions

Note 3. Related Party Transactions

Commercial Agreements

Revenues from contracts with customers on a disaggregated basis are as follows:


	Three Months Ended March 31,
	2023		2022
(in millions)
Oil and gas gathering services	$	144.6	$	145.3
Processing and storage services		113.8		113.8
Terminaling and export services		25.2		34.7
Water gathering and disposal services		19.8		18.3
Total revenues from contracts with customers	$	303.4	$	312.1
Other income		1.6		0.3
Total revenues	$	305.0	$	312.4

The following table presents MVC shortfall fees earned during each period:


	Three Months Ended March 31,
	2023			2022
(in millions)
Oil and gas gathering services	$	2.2		$	21.3
Processing and storage services		(0.3	)		6.3
Terminaling and export services		2.4			6.3
Total	$	4.3		$	33.9


	Three Months Ended March 31,
	2023			2022
(in millions)
Electricity and other related fees	$	11.0		$	10.5
Produced water trucking and disposal costs		8.3			7.9
Rail transportation costs		(1.8	)		4.3
Total	$	17.5		$	22.7

Omnibus and Employee Secondment Agreements


	Three Months Ended March 31,
	2023		2022
(in millions)
Operating and maintenance expenses	$	17.9	$	16.9
General and administrative expenses		3.9		3.7
Total	$	21.8	$	20.6

LM4 Agreements


	Three Months Ended March 31,
	2023		2022
(in millions)
Processing fee incurred	$	5.0	$	4.5
Earnings from equity investments		1.6		0.4
Distributions received from equity investments		2.6		4.7

XML 21 R11.htm IDEA: XBRL DOCUMENT

Property, Plant and Equipment

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Note 4. Property, Plant and Equipment

Property, plant and equipment, at cost, is as follows:


	Estimated useful lives	March 31, 2023			December 31, 2022
(in millions, except for number of years)
Gathering assets
Pipelines	22 years	$	1,605.4		$	1,591.7
Compressors, pumping stations and terminals	22 to 25 years		930.5			923.1
Gas plant assets
Pipelines, pipes and valves	22 to 25 years		460.0			460.0
Equipment	12 to 30 years		428.2			428.2
Processing and fractionation facilities	25 years		414.8			414.4
Buildings	35 years		182.3			182.3
Logistics facilities and railcars	20 to 25 years		389.3			389.3
Storage facilities	20 to 25 years		19.7			19.7
Other	20 to 25 years		25.6			25.5
Construction-in-progress	N/A		172.0			136.3
Total property, plant and equipment, at cost			4,627.8			4,570.5
Accumulated depreciation			(1,444.8	)		(1,397.7	)
Property, plant and equipment, net		$	3,183.0		$	3,172.8

XML 22 R12.htm IDEA: XBRL DOCUMENT

Accrued Liabilities

3 Months Ended

Mar. 31, 2023

Accrued Liabilities, Current [Abstract]

Accrued Liabilities

Note 5. Accrued Liabilities

Accrued liabilities are as follows:


	March 31, 2023		December 31, 2022
(in millions)
Accrued interest	$	28.8	$	35.4
Accrued capital expenditures		21.9		24.1
Other accruals		20.2		23.4
Total	$	70.9	$	82.9

XML 23 R13.htm IDEA: XBRL DOCUMENT

Debt and Interest Expense

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Debt and Interest Expense

Note 6. Debt and Interest Expense

Fixed‑Rate Senior Notes

Credit Facilities

Fair Value Measurement

XML 24 R14.htm IDEA: XBRL DOCUMENT

Partners' Capital and Distributions

3 Months Ended

Mar. 31, 2023

Partners' Capital Notes [Abstract]

Partners' Capital and Distributions

Note 7. Partners’ Capital and Distributions


Period	Record Date	Distribution Date	Distribution per Class A share
First Quarter 2022	May 5, 2022	May 13, 2022	$	0.5492
Second Quarter 2022	August 4, 2022	August 12, 2022	$	0.5559
Third Quarter 2022	November 3, 2022	November 14, 2022	$	0.5627
Fourth Quarter 2022	February 2, 2023	February 13, 2023	$	0.5696
First Quarter 2023(1)	May 4, 2023	May 12, 2023	$	0.5851

(1) For more information, see Note 12, Subsequent Events.

XML 25 R15.htm IDEA: XBRL DOCUMENT

Earnings per Share

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Earnings per Share

Note 8. Earnings per Share


	Three Months Ended March 31,
(in millions, except per share amounts)	2023		2022
Net income	$	142.2	$	159.6
Less: Net income attributable to noncontrolling interest		121.5		142.7
Net income attributable to Hess Midstream LP		20.7		16.9
Net income attributable to Hess Midstream LP per Class A share:
Basic:	$	0.47	$	0.50
Diluted:	$	0.47	$	0.49
Weighted average Class A shares outstanding:
Basic:		44.0		33.7
Diluted:		44.1		33.8

For the three months ended March 31, 2023 and 2022 the weighted average number of Class A shares outstanding included 60,566 and 101,612 dilutive restricted shares, respectively.

XML 26 R16.htm IDEA: XBRL DOCUMENT

Concentration of Credit Risk

3 Months Ended

Mar. 31, 2023

Risks and Uncertainties [Abstract]

Concentration of Credit Risk

Note 9. Concentration of Credit Risk

Hess represented approximately 100% of our total revenues and accounts receivable for the three months ended March 31, 2023 and 2022.

XML 27 R17.htm IDEA: XBRL DOCUMENT

Commitments and Contingencies

3 Months Ended

Mar. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 10. Commitments and Contingencies

Environmental Contingencies

Legal Proceedings

XML 28 R18.htm IDEA: XBRL DOCUMENT

Segments

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Segments

Note 11. Segments

The following tables reflect certain financial data for each reportable segment:


	Gathering		Processing and Storage		Terminaling and Export		Interest and Other			Consolidated
(in millions)
For the Three Months Ended March 31, 2023
Revenues and other income	$	164.7	$	114.4	$	25.9	$	-		$	305.0
Net income (loss)		95.1		80.1		17.6		(50.6	)		142.2
Net income (loss) attributable to Hess Midstream LP		17.4		14.5		3.3		(14.5	)		20.7
Depreciation expense		28.8		14.5		4.1		-			47.4
Proportional share of equity affiliates' depreciation		-		1.3		-		-			1.3
Income from equity investments		-		1.6		-		-			1.6
Interest expense, net		-		-		-		41.6			41.6
Income tax expense		-		-		-		6.5			6.5
Adjusted EBITDA		123.9		95.9		21.7		(2.5	)		239.0
Capital expenditures*		49.4		0.9		7.0		-			57.3

	Gathering		Processing and Storage		Terminaling and Export		Interest and Other			Consolidated
(in millions)
For the Three Months Ended March 31, 2022
Revenues and other income	$	163.6	$	113.8	$	35.0	$	-		$	312.4
Net income (loss)		98.2		78.1		21.9		(38.6	)		159.6
Net income (loss) attributable to Hess Midstream LP		13.0		10.4		2.9		(9.4	)		16.9
Depreciation expense		25.9		14.4		4.1		-			44.4
Proportional share of equity affiliates' depreciation		-		1.3		-		-			1.3
Income from equity investments		-		0.4		-		-			0.4
Interest expense, net		-		-		-		31.3			31.3
Income tax expense (benefit)		-		-		-		5.0			5.0
Adjusted EBITDA		124.1		93.8		26.0		(2.3	)		241.6
Capital expenditures*		35.7		0.9		0.5		-			37.1

*Includes acquisition, expansion and maintenance capital expenditures, as applicable.

Total assets for the reportable segments are as follows:



	March 31, 2023		December 31, 2022
(in millions)
Gathering	$	2,036.1	$	2,022.0
Processing and Storage(1)		1,079.7		1,099.2
Terminaling and Export		273.9		275.8
Interest and Other		188.8		191.2
Total assets	$	3,578.5	$	3,588.2

(1) Includes investment in equity investees of $92.9 million as of March 31, 2023 and $93.9 million as of December 31, 2022.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Summary of Revenues From Contracts With Customers on Disaggregated Basis

XML 29 R19.htm IDEA: XBRL DOCUMENT

Subsequent Events

3 Months Ended

Mar. 31, 2023

Subsequent Events [Abstract]

Subsequent Events

Note 12. Subsequent Events

XML 30 R20.htm IDEA: XBRL DOCUMENT

Basis of Presentation (Policies)

3 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

Presentation

XML 31 R21.htm IDEA: XBRL DOCUMENT

Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2023

Revenues from contracts with customers on a disaggregated basis are as follows:


	Three Months Ended March 31,
	2023		2022
(in millions)
Oil and gas gathering services	$	144.6	$	145.3
Processing and storage services		113.8		113.8
Terminaling and export services		25.2		34.7
Water gathering and disposal services		19.8		18.3
Total revenues from contracts with customers	$	303.4	$	312.1
Other income		1.6		0.3
Total revenues	$	305.0	$	312.4

Summary of MVC Shortfall Fees Earned

The following table presents MVC shortfall fees earned during each period:


	Three Months Ended March 31,
	2023			2022
(in millions)
Oil and gas gathering services	$	2.2		$	21.3
Processing and storage services		(0.3	)		6.3
Terminaling and export services		2.4			6.3
Total	$	4.3		$	33.9

Summary of Third-party Pass-through Costs for Which Revenues in Amount Equal to Costs are Recognized and Classification of Charges between Operating and Maintenance Expenses and General and Administrative Expenses


	Three Months Ended March 31,
	2023			2022
(in millions)
Electricity and other related fees	$	11.0		$	10.5
Produced water trucking and disposal costs		8.3			7.9
Rail transportation costs		(1.8	)		4.3
Total	$	17.5		$	22.7

For the three months ended March 31, 2023 and 2022, we had the following charges from Hess. The classification of these charges between operating and maintenance expenses and general and administrative expenses is based on the fundamental nature of the services being performed for our operations.


	Three Months Ended March 31,
	2023		2022
(in millions)
Operating and maintenance expenses	$	17.9	$	16.9
General and administrative expenses		3.9		3.7
Total	$	21.8	$	20.6

Summary of Activity Related to Agreements with Related Party

For the three months ended March 31, 2023 and 2022, we had the following activity related to our agreements with LM4:


	Three Months Ended March 31,
	2023		2022
(in millions)
Processing fee incurred	$	5.0	$	4.5
Earnings from equity investments		1.6		0.4
Distributions received from equity investments		2.6		4.7

XML 32 R22.htm IDEA: XBRL DOCUMENT

Property, Plant and Equipment (Tables)

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

Components of Property, Plant and Equipment

Property, plant and equipment, at cost, is as follows:


	Estimated useful lives	March 31, 2023			December 31, 2022
(in millions, except for number of years)
Gathering assets
Pipelines	22 years	$	1,605.4		$	1,591.7
Compressors, pumping stations and terminals	22 to 25 years		930.5			923.1
Gas plant assets
Pipelines, pipes and valves	22 to 25 years		460.0			460.0
Equipment	12 to 30 years		428.2			428.2
Processing and fractionation facilities	25 years		414.8			414.4
Buildings	35 years		182.3			182.3
Logistics facilities and railcars	20 to 25 years		389.3			389.3
Storage facilities	20 to 25 years		19.7			19.7
Other	20 to 25 years		25.6			25.5
Construction-in-progress	N/A		172.0			136.3
Total property, plant and equipment, at cost			4,627.8			4,570.5
Accumulated depreciation			(1,444.8	)		(1,397.7	)
Property, plant and equipment, net		$	3,183.0		$	3,172.8

XML 33 R23.htm IDEA: XBRL DOCUMENT

Accrued Liabilities (Tables)

3 Months Ended

Mar. 31, 2023

Accrued Liabilities, Current [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities are as follows:


	March 31, 2023		December 31, 2022
(in millions)
Accrued interest	$	28.8	$	35.4
Accrued capital expenditures		21.9		24.1
Other accruals		20.2		23.4
Total	$	70.9	$	82.9

XML 34 R24.htm IDEA: XBRL DOCUMENT

Partners' Capital and Distributions (Tables)

3 Months Ended

Mar. 31, 2023

Partners' Capital Notes [Abstract]

Schedule of Distributions Declared and Paid

The following table details the distributions declared and/or paid for the periods presented:


Period	Record Date	Distribution Date	Distribution per Class A share
First Quarter 2022	May 5, 2022	May 13, 2022	$	0.5492
Second Quarter 2022	August 4, 2022	August 12, 2022	$	0.5559
Third Quarter 2022	November 3, 2022	November 14, 2022	$	0.5627
Fourth Quarter 2022	February 2, 2023	February 13, 2023	$	0.5696
First Quarter 2023(1)	May 4, 2023	May 12, 2023	$	0.5851

(1) For more information, see Note 12, Subsequent Events.

XML 35 R25.htm IDEA: XBRL DOCUMENT

Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Schedule of Earnings per Share


	Three Months Ended March 31,
(in millions, except per share amounts)	2023		2022
Net income	$	142.2	$	159.6
Less: Net income attributable to noncontrolling interest		121.5		142.7
Net income attributable to Hess Midstream LP		20.7		16.9
Net income attributable to Hess Midstream LP per Class A share:
Basic:	$	0.47	$	0.50
Diluted:	$	0.47	$	0.49
Weighted average Class A shares outstanding:
Basic:		44.0		33.7
Diluted:		44.1		33.8

XML 36 R26.htm IDEA: XBRL DOCUMENT

Segments (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Financial Data for Each Reportable Segment

The following tables reflect certain financial data for each reportable segment:


	Gathering		Processing and Storage		Terminaling and Export		Interest and Other			Consolidated
(in millions)
For the Three Months Ended March 31, 2023
Revenues and other income	$	164.7	$	114.4	$	25.9	$	-		$	305.0
Net income (loss)		95.1		80.1		17.6		(50.6	)		142.2
Net income (loss) attributable to Hess Midstream LP		17.4		14.5		3.3		(14.5	)		20.7
Depreciation expense		28.8		14.5		4.1		-			47.4
Proportional share of equity affiliates' depreciation		-		1.3		-		-			1.3
Income from equity investments		-		1.6		-		-			1.6
Interest expense, net		-		-		-		41.6			41.6
Income tax expense		-		-		-		6.5			6.5
Adjusted EBITDA		123.9		95.9		21.7		(2.5	)		239.0
Capital expenditures*		49.4		0.9		7.0		-			57.3

	Gathering		Processing and Storage		Terminaling and Export		Interest and Other			Consolidated
(in millions)
For the Three Months Ended March 31, 2022
Revenues and other income	$	163.6	$	113.8	$	35.0	$	-		$	312.4
Net income (loss)		98.2		78.1		21.9		(38.6	)		159.6
Net income (loss) attributable to Hess Midstream LP		13.0		10.4		2.9		(9.4	)		16.9
Depreciation expense		25.9		14.4		4.1		-			44.4
Proportional share of equity affiliates' depreciation		-		1.3		-		-			1.3
Income from equity investments		-		0.4		-		-			0.4
Interest expense, net		-		-		-		31.3			31.3
Income tax expense (benefit)		-		-		-		5.0			5.0
Adjusted EBITDA		124.1		93.8		26.0		(2.3	)		241.6
Capital expenditures*		35.7		0.9		0.5		-			37.1

*Includes acquisition, expansion and maintenance capital expenditures, as applicable.

Total Assets for Reportable Segments

Total assets for the reportable segments are as follows:



	March 31, 2023		December 31, 2022
(in millions)
Gathering	$	2,036.1	$	2,022.0
Processing and Storage(1)		1,079.7		1,099.2
Terminaling and Export		273.9		275.8
Interest and Other		188.8		191.2
Total assets	$	3,578.5	$	3,588.2

(1) Includes investment in equity investees of $92.9 million as of March 31, 2023 and $93.9 million as of December 31, 2022.

XML 37 R27.htm IDEA: XBRL DOCUMENT

Basis of Presentation - Additional Information (Detail)	3 Months Ended	12 Months Ended
Basis of Presentation - Additional Information (Detail)	Mar. 31, 2023	Dec. 31, 2022
Hess Corporation and GIP II Blue Holding, L.P.
Accounting Policies [Line Items]
Noncontrolling interest percentage	81.30%	81.70%

XML 38 R28.htm IDEA: XBRL DOCUMENT

Equity Transactions - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended
	Mar. 27, 2023	Mar. 31, 2023
Class of Stock [Line Items]
Costs incurred to repurchase shares were charged to equity		$ 0.9
Class A Shares
Class of Stock [Line Items]
Additions to deferred tax asset		$ 4.3
Class B Shares
Class of Stock [Line Items]
Repurchase of shares	3,619,254
Value of shares repurchased	$ 100.0
Stock purchased price per share	$ 27.63

XML 39 R29.htm IDEA: XBRL DOCUMENT

Related Party Transactions - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
LM4
Related Party Transaction [Line Items]
Percentage of ownership in joint venture	50.00%
Customer Concentration Risk \| Revenue
Related Party Transaction [Line Items]
Revenues attributable to fee based commercial agreements	100.00%	100.00%
Hess \| Customer Concentration Risk \| Revenue
Related Party Transaction [Line Items]
Revenues attributable to fee based commercial agreements	100.00%	100.00%
Hess \| Amended and Restated Commercial Agreement
Related Party Transaction [Line Items]
Minimum volume commitments, Description	Minimum volume commitments (“MVCs”) are equal to 80% of Hess’ nominations in each development plan that apply on a three-year rolling basis such that MVCs are set for the three years following the most recent nomination. Without our consent, the MVCs resulting from the nominated volumes for any quarter or year contained in any prior development plan shall not be reduced by any updated development plan unless dedicated production is released by us. The applicable MVCs may, however, be increased as a result of the nominations contained in any such updated development plan.
Minimum volume commitments expressed as percentage of related party nominations in development plans	80.00%
Initial term of agreement	10 years
Agreement description	each of our commercial agreements with Hess has an initial 10-year term effective January 1, 2014 (“Initial Term”).
Number of rights to extend the term of agreement	one
Advance period to call for extension of term of agreement	3 years
Secondary term of agreement	10 years
Hess \| Amended and Restated Agreement for Certain Gas Gathering Sub-system
Related Party Transaction [Line Items]
Initial term of agreement	15 years
Agreement description	For this gathering sub-system, the Initial Term is 15 years effective January 1, 2014 and for the water services agreements the Initial Term is 14 years effective January 1, 2019.
Secondary term of agreement	5 years
Hess \| Amended and Restated Water Services Agreements
Related Party Transaction [Line Items]
Initial term of agreement	14 years
Secondary term of agreement	10 years
Hess \| Terminal and Export Services Agreement
Related Party Transaction [Line Items]
Commercial agreement period	20 years
Hess \| Commercial Agreements Other Than Storage Services Agreement and Terminal and Export Services Agreement
Related Party Transaction [Line Items]
Minimum volume commitments, Description	During the Secondary Term of our commercial agreements, Hess will continue to have MVCs equal to 80% of Hess’ nominations in each development plan that apply on a three-year rolling basis through the Secondary Term.
Minimum volume commitments expressed as percentage of related party nominations in development plans	80.00%
Maximum consumer price index percentage	3.00%
Fee recalculation model description	the fee recalculation model under each applicable agreement will be replaced by an inflation-based fee structure. The initial fee for the first year of the Secondary Term will be determined based on the average fees paid by Hess under the applicable agreement during the last three years of the Initial Term (with such fees adjusted for inflation through the first year of the Secondary Term). For each year following the first year of the Secondary Term, the applicable fee will be adjusted annually based on the percentage change in the consumer price index, provided that we may not increase any fee by more than 3% in any calendar year solely by reason of an increase in the consumer price index, and no fee will ever be reduced below the amount of the applicable fee payable by Hess in the prior year as a result of a decrease in the consumer price index.
Targa Resources Corp. \| LM4
Related Party Transaction [Line Items]
Percentage of ownership in joint venture	50.00%

XML 40 R30.htm IDEA: XBRL DOCUMENT

Related Party Transactions - Summary of Revenues From Contracts With Customers on Disaggregated Basis (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation Of Revenue [Line Items]
Revenue from contract with customer including assessed tax	$ 303.4	$ 312.1
Other income	1.6	0.3
Total revenues	305.0	312.4
Oil and Gas Gathering Services
Disaggregation Of Revenue [Line Items]
Revenue from contract with customer including assessed tax	144.6	145.3
Processing and Storage Services
Disaggregation Of Revenue [Line Items]
Revenue from contract with customer including assessed tax	113.8	113.8
Terminaling and Export Services
Disaggregation Of Revenue [Line Items]
Revenue from contract with customer including assessed tax	25.2	34.7
Water Gathering and Disposal Services
Disaggregation Of Revenue [Line Items]
Revenue from contract with customer including assessed tax	$ 19.8	$ 18.3

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

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Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI https://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

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-Name Accounting Standards Codification
-Topic 470
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-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

XML 41 R31.htm IDEA: XBRL DOCUMENT

Related Party Transactions - Summary of MVC Shortfall Fees Earned (Detail) - Hess - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Related Party Transaction [Line Items]
Total MVC shortfall fees	$ 4.3	$ 33.9
Oil and Gas Gathering Services
Related Party Transaction [Line Items]
Total MVC shortfall fees	2.2	21.3
Processing and Storage Services
Related Party Transaction [Line Items]
Total MVC shortfall fees	(0.3)	6.3
Terminaling and Export Services
Related Party Transaction [Line Items]
Total MVC shortfall fees	$ 2.4	$ 6.3

XML 42 R32.htm IDEA: XBRL DOCUMENT

Related Party Transactions - Summary of Third-party Pass-through Costs for Which Revenues in Amount Equal to Costs are Recognized (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Related Party Transaction [Line Items]
Reimbursement revenue	$ 303.4	$ 312.1
Hess
Related Party Transaction [Line Items]
Total	17.5	22.7
Hess \| Electricity and Other Related Fees
Related Party Transaction [Line Items]
Reimbursement revenue	11.0	10.5
Hess \| Produced Water Trucking and Disposal Costs
Related Party Transaction [Line Items]
Reimbursement revenue	8.3	7.9
Hess \| Rail Transportation Costs
Related Party Transaction [Line Items]
Reimbursement revenue	$ (1.8)	$ 4.3

Distribution Made To Limited Partner [Line Items]

XML 43 R33.htm IDEA: XBRL DOCUMENT

Related Party Transactions - Summary of Classification of Charges between Operating and Maintenance Expenses and General and Administrative Expenses (Detail) - Hess - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Related Party Transaction [Line Items]
Operating and maintenance expenses	$ 17.9	$ 16.9
General and administrative expenses	3.9	3.7
Total	$ 21.8	$ 20.6

XML 44 R34.htm IDEA: XBRL DOCUMENT

Related Party Transactions - Summary of Activity Related to Agreements with Related Party (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Related Party Transaction [Line Items]
Earnings from equity investments	$ 1.6	$ 0.4
Distributions received from equity investments	2.6	4.7
LM4
Related Party Transaction [Line Items]
Processing fee incurred	5.0	4.5
Earnings from equity investments	1.6	0.4
Distributions received from equity investments	$ 2.6	$ 4.7

XML 45 R35.htm IDEA: XBRL DOCUMENT

Property, Plant and Equipment - Components of Property, Plant and Equipment (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Total property, plant and equipment, at cost	$ 4,627.8	$ 4,570.5
Accumulated depreciation	(1,444.8)	(1,397.7)
Property, plant and equipment, net	3,183.0	3,172.8
Logistics Facilities and Railcars
Property Plant And Equipment [Line Items]
Total property, plant and equipment, at cost	$ 389.3	389.3
Logistics Facilities and Railcars \| Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment, Estimated useful life	20 years
Logistics Facilities and Railcars \| Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment, Estimated useful life	25 years
Storage Facilities
Property Plant And Equipment [Line Items]
Total property, plant and equipment, at cost	$ 19.7	19.7
Storage Facilities \| Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment, Estimated useful life	20 years
Storage Facilities \| Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment, Estimated useful life	25 years
Other
Property Plant And Equipment [Line Items]
Total property, plant and equipment, at cost	$ 25.6	25.5
Other \| Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment, Estimated useful life	20 years
Other \| Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment, Estimated useful life	25 years
Construction-In-Progress
Property Plant And Equipment [Line Items]
Total property, plant and equipment, at cost	$ 172.0	136.3
Gathering Assets \| Pipelines
Property Plant And Equipment [Line Items]
Property, plant and equipment, Estimated useful life	22 years
Total property, plant and equipment, at cost	$ 1,605.4	1,591.7
Gathering Assets \| Compressors, Pumping Stations and Terminals
Property Plant And Equipment [Line Items]
Total property, plant and equipment, at cost	$ 930.5	923.1
Gathering Assets \| Compressors, Pumping Stations and Terminals \| Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment, Estimated useful life	22 years
Gathering Assets \| Compressors, Pumping Stations and Terminals \| Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment, Estimated useful life	25 years
Gas Plant Assets \| Pipelines, Pipes and Valves
Property Plant And Equipment [Line Items]
Total property, plant and equipment, at cost	$ 460.0	460.0
Gas Plant Assets \| Pipelines, Pipes and Valves \| Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment, Estimated useful life	22 years
Gas Plant Assets \| Pipelines, Pipes and Valves \| Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment, Estimated useful life	25 years
Gas Plant Assets \| Equipment
Property Plant And Equipment [Line Items]
Total property, plant and equipment, at cost	$ 428.2	428.2
Gas Plant Assets \| Equipment \| Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment, Estimated useful life	12 years
Gas Plant Assets \| Equipment \| Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment, Estimated useful life	30 years
Gas Plant Assets \| Processing and Fractionation Facilities
Property Plant And Equipment [Line Items]
Property, plant and equipment, Estimated useful life	25 years
Total property, plant and equipment, at cost	$ 414.8	414.4
Gas Plant Assets \| Buildings
Property Plant And Equipment [Line Items]
Property, plant and equipment, Estimated useful life	35 years
Total property, plant and equipment, at cost	$ 182.3	$ 182.3

XML 46 R36.htm IDEA: XBRL DOCUMENT

Accrued Liabilities - Schedule of Accrued Liabilities (Detail) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Accrued Liabilities, Current [Abstract]
Accrued interest	$ 28.8	$ 35.4
Accrued capital expenditures	21.9	24.1
Other accruals	20.2	23.4
Total	$ 70.9	$ 82.9

XML 47 R37.htm IDEA: XBRL DOCUMENT

Debt and Interest Expense - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2023 USD ($)
Debt Instrument [Line Items]
Debt covenant, leverage ratio	550.00%
Ratio of debt to EBITDA	500.00%
Secured leverage ratio - Maximum	400.00%
Debt instrument covenant, description	The Credit Facilities contain representations and warranties, affirmative and negative covenants and events of default that the Partnership considers to be customary for an agreement of this type, including a covenant that requires the Partnership to maintain a ratio of total debt to EBITDA (as defined in the Credit Facilities) for the prior four fiscal quarters of not greater than 5.00 to 1.00 as of the last day of each fiscal quarter (5.50 to 1.00 during the specified period following certain acquisitions) and, prior to the Partnership obtaining an investment grade credit rating, a ratio of secured debt to EBITDA for the prior four fiscal quarters of not greater than 4.00 to 1.00 as of the last day of each fiscal quarter.
Carrying Value
Debt Instrument [Line Items]
Total debt	$ 2,990,100,000
Level 2
Debt Instrument [Line Items]
Total debt fair value	2,884,300,000
Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 1,400,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility - Term	5 years
Maximum borrowing capacity	$ 1,000,000,000.0
Borrowings	$ 121,000,000.0
Revolving Credit Facility \| Minimum
Debt Instrument [Line Items]
Interest rate applicable margin	1.65%
Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
Interest rate applicable margin	2.55%
Term Loan A Facility
Debt Instrument [Line Items]
Credit facility - Term	5 years
Credit facility - maturity year	2027
Maximum borrowing capacity	$ 400,000,000.0
Borrowings	$ 400,000,000.0
Syndicated Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility - Term	5 years
Syndicated Revolving Credit Facility \| Minimum
Debt Instrument [Line Items]
Interest rate applicable margin	1.375%
Syndicated Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
Interest rate applicable margin	2.05%
Fixed-Rate Senior Notes
Debt Instrument [Line Items]
Debt covenant, leverage ratio	425.00%
5.500% Fixed Rate Senior Unsecured Notes due 2030
Debt Instrument [Line Items]
Aggregate principal amount of fixed-rate senior notes	$ 400,000,000.0
5.500% Fixed Rate Senior Unsecured Notes due 2030 \| Fixed-Rate Senior Unsecured Notes
Debt Instrument [Line Items]
Debt instrument interest rate	5.50%
Debt instrument due year	2030
Frequency of periodic interest payment	semi‑annually
Interest payment terms	Interest is payable semi‑annually on April 15 and October 15.
4.250% Fixed Rate Senior Unsecured Notes due 2030
Debt Instrument [Line Items]
Aggregate principal amount of fixed-rate senior notes	$ 750,000,000.0
4.250% Fixed Rate Senior Unsecured Notes due 2030 \| Fixed-Rate Senior Notes
Debt Instrument [Line Items]
Debt instrument interest rate	4.25%
Debt instrument due year	2030
Frequency of periodic interest payment	semi‑annually
Interest payment terms	Interest is payable semi‑annually on February 15 and August 15.
5.625% Fixed Rate Senior Unsecured Notes due 2026
Debt Instrument [Line Items]
Aggregate principal amount of fixed-rate senior notes	$ 800,000,000.0
5.625% Fixed Rate Senior Unsecured Notes due 2026 \| Fixed-Rate Senior Notes
Debt Instrument [Line Items]
Debt instrument interest rate	5.625%
Debt instrument due year	2026
Frequency of periodic interest payment	semi‑annually
Interest payment terms	Interest is payable semi‑annually on February 15 and August 15.
5.125% Fixed Rate Senior Unsecured Notes due 2028
Debt Instrument [Line Items]
Aggregate principal amount of fixed-rate senior notes	$ 550,000,000.0
5.125% Fixed Rate Senior Unsecured Notes due 2028 \| Fixed-Rate Senior Notes
Debt Instrument [Line Items]
Debt instrument interest rate	5.125%
Debt instrument due year	2028
Frequency of periodic interest payment	semi‑annually
Interest payment terms	Interest is payable semi‑annually on June 15 and December 15.

XML 48 R38.htm IDEA: XBRL DOCUMENT

Partners' Capital and Distributions - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2023
Partners' Capital Notes [Abstract]
Period of cash distribution to shareholders	45 days

XML 49 R39.htm IDEA: XBRL DOCUMENT

Partners' Capital and Distributions - Schedule of Distributions Declared and Paid (Detail) - $ / shares

3 Months Ended

Apr. 23, 2023

Mar. 31, 2023

May 04, 2023

Distribution Made To Limited Partner [Line Items]

May 12, 2023

First Quarter 2022

May 05, 2022

May 13, 2022

Distribution Made To Limited Partner [Line Items]

$ 0.5492

Second Quarter 2022

Aug. 04, 2022

Aug. 12, 2022

Distribution Made To Limited Partner [Line Items]

$ 0.5559

Third Quarter 2022

Nov. 03, 2022

Nov. 14, 2022

Distribution Made To Limited Partner [Line Items]

$ 0.5627

Fourth Quarter 2022

Feb. 02, 2023

Feb. 13, 2023

Distribution Made To Limited Partner [Line Items]

$ 0.5696

First Quarter 2023

^[1]

May 04, 2023

^[1]

May 12, 2023

^[1]

$ 0.5851

[1]	For more information, see Note 12, Subsequent Events.

XML 50 R40.htm IDEA: XBRL DOCUMENT

Earnings per Share - Additional Information (Detail) - Class A Shares - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Dilutive Restricted Shares
Limited Partners Capital Account [Line Items]
Weighted average number shares	60,566	101,612
Hess and GIP
Limited Partners Capital Account [Line Items]
Conversion of Class B units and Class B shares into Class A shares	100.00%

XML 51 R41.htm IDEA: XBRL DOCUMENT

Earnings per Share - Schedule of Earnings per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Limited Partners Capital Account [Line Items]
Net income	$ 142.2	$ 159.6
Less: Net income attributable to noncontrolling interest	121.5	142.7
Net income attributable to Hess Midstream LP	$ 20.7	$ 16.9
Class A Shares
Net income attributable to Hess Midstream LP per Class A share:
Net income attributable to Hess Midstream LP per Class A share, Basic	$ 0.47	$ 0.50
Net income attributable to Hess Midstream LP per Class A share, Diluted	$ 0.47	$ 0.49
Weighted average Class A shares outstanding
Weighted average Class A shares outstanding, Basic	44.0	33.7
Weighted average Class A shares outstanding, Diluted	44.1	33.8

XML 52 R42.htm IDEA: XBRL DOCUMENT

Concentration of Credit Risk - Additional Information (Detail) - Customer Concentration Risk	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	100.00%	100.00%
Revenue
Concentration Risk [Line Items]
Concentration risk, percentage	100.00%	100.00%

XML 53 R43.htm IDEA: XBRL DOCUMENT

Commitments and Contingencies - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2023 USD ($) Barrels	Dec. 31, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
No of produced water released \| Barrels	34,000
Estimated remediation liabilities included in accrued liabilities	$ 1,100,000	$ 1,400,000
Environmental Loss Contingency, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current
Estimated remediation liabilities included in other noncurrent liabilities	$ 3,700,000	$ 4,300,000
Environmental Loss Contingency, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Accrued liabilities for legal contingencies	$ 0	$ 0

XML 54 R44.htm IDEA: XBRL DOCUMENT

Segments - Additional Information (Detail)	3 Months Ended
Segments - Additional Information (Detail)	Mar. 31, 2023 Segment
Segment Reporting [Abstract]
Number of reportable segments	3

XML 55 R45.htm IDEA: XBRL DOCUMENT

Segments - Financial Data for Each Reportable Segment (Detail) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

$ 305.0

$ 312.4

Net income (loss) attributable to Hess Midstream LP

142.2

159.6

20.7

16.9

Proportional share of equity affiliates' depreciation

47.4

44.4

1.3

Income from equity investments

1.6

0.4

Interest expense, net

41.6

31.3

Income tax expense (benefit)

6.5

5.0

239.0

241.6

^[1]

57.3

37.1

Interest and Other

Net income (loss) attributable to Hess Midstream LP

(50.6)

(38.6)

(14.5)

(9.4)

Interest expense, net

41.6

31.3

Income tax expense (benefit)

6.5

5.0

Gathering Opco | Operating Segments

(2.5)

(2.3)

164.7

163.6

Net income (loss) attributable to Hess Midstream LP

95.1

98.2

17.4

13.0

28.8

25.9

123.9

124.1

Processing and Storage | Operating Segments

^[1]

49.4

35.7

114.4

113.8

Net income (loss) attributable to Hess Midstream LP

80.1

78.1

14.5

10.4

Proportional share of equity affiliates' depreciation

14.5

14.4

1.3

Income from equity investments

1.6

0.4

95.9

93.8

Terminaling and Export | Operating Segments

^[1]

0.9

25.9

35.0

Net income (loss) attributable to Hess Midstream LP

17.6

21.9

3.3

2.9

4.1

21.7

26.0

^[1]

$ 7.0

$ 0.5

[1]	Includes acquisition, expansion and maintenance capital expenditures, as applicable.

XML 56 R46.htm IDEA: XBRL DOCUMENT

Segments - Total Assets for Reportable Segments (Detail) - USD ($)
$ in Millions

Mar. 31, 2023

Dec. 31, 2022

$ 3,578.5

$ 3,588.2

Interest and Other

Gathering Opco | Operating Segments

188.8

191.2

Processing and Storage | Operating Segments

2,036.1

2,022.0

Terminaling and Export | Operating Segments

^[1]

1,079.7

1,099.2

$ 273.9

$ 275.8

[1]	Includes investment in equity investees of $92.9 million as of March 31, 2023 and $93.9 million as of December 31, 2022.

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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