Chevron to Sell Stakes in Hess Midstream and DJ Basin Assets
Chevron (CVX) announced after market hours on Tuesday that it has agreed to sell its ownership stakes in Hess Midstream (HESM) as well as crude oil midstream assets in the DJ Basin. The move is part of a broader restructuring effort involving Chevron's Bakken midstream agreements and the establishment of new contracts for operations in the DJ Basin. The transaction reflects Chevron’s strategy to streamline its asset portfolio, focusing on core areas while divesting non-core or underperforming segments. This decision aligns with ongoing industry trends where energy companies are reevaluating their holdings amid shifting market dynamics and capital allocation priorities.
Topics: Chevron Hess Midstream midstream assets restructuring