Hess Midstream LP revised its financial and operational outlook as Chevron Corp slows drilling activity in the Bakken, impacting oil volumes but supporting gas throughput growth through 2027. Chevron will reduce its rig count from four to three in Q4 2025, leading to plateauing oil volumes in 2026 but expanding gas throughput. Adjusted EBITDA for 2026 is expected to be flat, with growth resuming in 2027. Capital spending is reduced, supporting higher adjusted free cash flow and targeted distribution growth of at least 5% through 2027. Gas throughput guidance for 2025 was lowered due to adverse weather and maintenance, with lower third-party volumes.

Read more at Yahoo Finance: Hess Midstream Cuts Outlook As Chevron Scales Back Bakken Drilling