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Hess to transfer Bakken water systems to JV for $225MM
Hess Infrastructure Partners, a JV between Hess Corp. and private equity firm Global Infrastructure Partners and the sponsor of MLP Hess Midstream Partners, signed a tentative deal to acquire Hess’ existing Bakken water services business for $225 million. The deal covers more than 150 miles of Hess water gathering pipelines capturing about 24,000 bbl/d of produced water. The business includes substantially all of Hess’ Bakken water gathering assets and saltwater disposal services in North Dakota. Under the memorandum of understanding, Hess Midstream Partners......
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