Hess Midstream LP (HESM) Bundle
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 FrameworkHess 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 |
- Expand midstream infrastructure capabilities
- Enhance operational efficiency
- Maintain environmental sustainability standards
- Optimize asset performance
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 |
- 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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