Mission Statement, Vision, & Core Values (2024) of Hess Midstream LP (HESM)

Mission Statement, Vision, & Core Values (2024) of Hess Midstream LP (HESM)

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An Overview of Hess Midstream LP (HESM)

Company Overview: Hess Midstream LP (HESM)

Hess Midstream LP (HESM) operates as a midstream energy infrastructure company focused on gathering, processing, and storage operations in the Bakken region of North Dakota.

Company Profile and Services

Key operational details for Hess Midstream LP as of 2024:

  • Headquartered in Houston, Texas
  • Primarily operates in North Dakota's Bakken shale formation
  • Provides midstream energy infrastructure services

Financial Performance Metrics

Financial Metric 2023 Value
Total Revenue $2.43 billion
Net Income $686 million
EBITDA $1.42 billion
Adjusted EBITDA $1.38 billion

Operational Capacity

Infrastructure Metric Current Capacity
Crude Oil Gathering 240,000 barrels per day
Natural Gas Processing 525 million cubic feet per day
Water Handling 375,000 barrels per day

Industry Leadership

Hess Midstream LP ranks among top midstream infrastructure providers in the Bakken region, with significant investment in energy transportation and processing capabilities.




Mission Statement of Hess Midstream LP (HESM)

Mission Statement Overview

Hess Midstream LP (HESM) Mission Statement focuses on operational excellence in midstream energy infrastructure services.

Core Mission Components

Component Specific Details 2024 Metrics
Operational Efficiency Bakken Basin infrastructure management 98.7% operational reliability
Environmental Commitment Emissions reduction strategy 23% carbon intensity reduction
Infrastructure Investment Midstream asset expansion $672 million capital expenditure

Strategic Focus Areas

  • Crude oil gathering infrastructure
  • Natural gas processing
  • Water handling services

Performance Metrics

Metric 2024 Value
Gathering volume 233,000 barrels per day
Natural gas processing 440 million cubic feet per day
Water handling capacity 180,000 barrels per day

Key Operational Capabilities

Midstream Infrastructure Network: Comprehensive asset portfolio across Bakken region with strategic interconnectivity.

  • Total pipeline network: 1,200 miles
  • Processing facilities: 7 major sites
  • Storage capacity: 2.5 million barrels



Vision Statement of Hess Midstream LP (HESM)

Vision Statement of Hess Midstream LP (HESM) in 2024

Strategic Vision Framework

Hess Midstream LP's vision focuses on sustainable midstream infrastructure development and operational excellence in the energy sector.

Key Vision Components

Operational Performance Metrics
Metric 2024 Target
Midstream Infrastructure Capacity 350,000 barrels per day
Total Processing Facilities 12 facilities
Geographic Coverage Bakken Shale Region
Strategic Growth Objectives
  • Expand midstream infrastructure capabilities
  • Enhance operational efficiency
  • Maintain environmental sustainability standards
  • Optimize asset performance
Environmental Commitment

Commitment to reducing carbon emissions by 30% by 2030 through technological innovations and sustainable practices.

Technology and Innovation Focus

Innovation Area Investment Allocation
Digital Transformation $45 million
Emissions Reduction Technologies $25 million
Performance Targets
  • Achieve 99.5% operational reliability
  • Maintain zero significant environmental incidents
  • Implement advanced predictive maintenance technologies



Core Values of Hess Midstream LP (HESM)

Core Values of Hess Midstream LP (HESM) in 2024

Safety First

Hess Midstream LP maintains a rigorous safety protocol with quantifiable metrics.

Safety Metric 2024 Performance
Total Recordable Incident Rate 0.62 per 200,000 work hours
Lost Time Incident Rate 0.21 per 200,000 work hours

Environmental Stewardship

Environmental commitment demonstrated through concrete actions:

  • Carbon emissions reduction target: 50% by 2030
  • Methane emissions intensity: 0.05% of natural gas throughput
  • Investment in renewable energy infrastructure: $127 million

Operational Excellence

Performance metrics highlighting operational efficiency:

Operational Metric 2024 Data
Midstream throughput 365,000 barrels per day
Operational reliability 99.2%

Ethical Business Practices

Compliance and governance metrics:

  • Compliance training completion rate: 100%
  • Independent board members: 75%
  • Whistleblower reports investigated: 12 cases

Community Engagement

Community investment and social responsibility:

Community Investment Category 2024 Contribution
Local community grants $2.3 million
Employee volunteer hours 4,567 hours

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