Hess Midstream Partners LP (HESM) IPO Prices at $23

Hess Midstream Partners LP (NYSE: HESM) announced the pricing of its initial public offering of 14,780,000 common units representing limited partner interests in the Partnership, at a public offering price of $23.00 per common unit. The Partnership was initially offering 12,500,000 common units at an estimated price range of $19.00 to $21.00 per common unit. In addition, the Partnership has granted the underwriters a 30-day option to purchase up to an additional 2,217,000 common units at the initial public offering price. The common units are expected to begin trading on April 5, 2017 on the New York Stock Exchange under the ticker symbol “HESM.” The offering is expected to close on April 10, 2017, subject to customary closing conditions.

Upon closing, the public will hold an approximate 26.5 percent limited partner interest in the Partnership, or an approximate 30.5 percent limited partner interest if the underwriters exercise in full their option to purchase additional common units. Hess Corporation (“Hess”), through certain of its subsidiaries, and Global Infrastructure Partners II and its affiliates (“GIP”) will each own 50 percent of the remaining limited partner interest in the Partnership, and Hess Infrastructure Partners LP, a joint venture 50 percent owned by Hess and 50 percent owned by GIP, will own all of the equity interests in the Partnership’s general partner and all of the Partnership’s incentive distribution rights.

Goldman, Sachs & Co., Morgan Stanley, Citigroup, J.P. Morgan, MUFG and Wells Fargo Securities are acting as book-running managers for the offering and Barclays, HSBC, ING Financial Markets, Scotia Howard Weil, SMBC Nikko and TD Securities are acting as co-managers for the offering. The offering of these securities is being made only by means of a written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. A copy of the prospectus may be obtained from:

Hess Midstream Partners is a fee-based, growth-oriented, traditional master limited partnership initially formed by Hess in 2014 to own, operate, develop and acquire a diverse set of midstream assets to provide services to Hess and third-party customers. The Partnership’s initial assets are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota.

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