Hess Midstream Q1 Net Income, Revenues Up versus 1Q23


   
   OAKHURST, N.J. (DTN) --- Hess Midstream LP reported first quarter net income 
of $161.9 million compared with net income of $142.2 million for the first 
quarter 2023.

   Throughput volumes increased 16% for gas gathering and gas processing in the 
first quarter compared with the first quarter 2023 due primarily to higher 
production, including third-party volumes and higher gas capture. Throughput 
volumes increased 14% for crude oil gathering and 13% for terminaling versus 
first quarter last year due primarily to greater production and higher 
third-party volumes. Water gathering volumes increased 47%, reflecting higher 
crude oil production and increased utilization of Hess Midstream's water 
gathering infrastructure.

   Revenues and other income in the quarter profiled were $355.6 million, up 
$50.6 million from the prior-year quarter primarily due to higher physical 
volumes, partially offset by lower shortfall fees due to the 2023 transition to 
actual physical volumes that are at or above minimum-volume commitments.

   "We delivered a solid first quarter, underpinned by strong operational 
performance and continued focus on gas capture," said John Gatling, president 
and CEO of Hess Midstream. 




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