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Hess Infrastructure proposes $225M deal for Hess' Bakken water business

Published 12/11/2018, 09:02 AM
© Reuters.  Hess Infrastructure proposes $225M deal for Hess' Bakken water business
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  • Hess Infrastructure Partners signs an MoU to acquire Hess’ (NYSE:HES) existing Bakken water services business for $225M.
  • Under the MoU terms, Hess Infrastructure would offer Hess Midstream Partners (NYSE:HESM) a right of first offer to acquire the water services business if it decides to sell the water services business in the future.
  • The scope of the water services business includes substantially all of Hess' Bakken produced water gathering assets and saltwater disposal services in North Dakota, consisting of 150-plus miles of water gathering pipelines capturing ~24K bbl/day of produced water.
  • Now read: Legacy Reserves: Limited Risk Of Bankruptcy


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