Hess Midstream (HESM) said 10 million Class A shares representing limited partner interests in the company will be made available in a public offering, according to a Feb. 5 news release.
Global Infrastructure Partners, an HESM affiliate, will act as the selling shareholder. The plan is for a 30-day option for up to 1.5 million additional Class A shares. Hess Midstream will not receive proceeds from the sale of Class A shares in the offering.
Hess Midstream said Citigroup is serving as bookrunning manager of the offering. The agency underwriting the sale intends to sell Class A shares occasionally in one or more transactions on the New York Stock Exchange. The sale will be through over-the-counter market transactions at market or negotiated prices.
Recommended Reading
CGG to Change Name to Viridien
2024-05-17 - The company’s new ticker symbol will be “VIRI” and listed on Euronext Paris, effective May 21.
Sector’s Appetite for Capital Remains Amid Consolidation Frenzy, Panelists Say
2024-05-17 - There’s still an appetite for capital in the oil and gas sector—companies just need to think creatively to find it, a number of panelists said during SUPER DUG in Fort Worth, Texas.
SilverBow Resets Shareholder Meeting After $2.1B Crescent Deal
2024-05-16 - SilverBow Resources said it will adjourn its May 21 shareholders’ meeting until May 29 following Crescent Energy’s agreement to buy the Eagle Ford operator.
Blue Racer Midstream Prices Senior Notes Offering
2024-05-15 - Net proceeds from the sale of senior notes will be used to pay off debt and other general corporate purposes.
Petrobras CEO Prates to Step Down
2024-05-15 - Brazil’s President Luiz Inácio Lula da Silva has requested that Petrobras CEO Jean Paul Prates resign following a dispute over dividend payments.