Hes Midstream announces updated governance

Hess Midstream (HESM) announced that Global Infrastructure Partners, a part of BlackRock (BLK), has completed a full exit of its position in Hess Midstream as the result of the closing of a registered underwritten public offering on May 30, 2025. Ownership of Hess Midstream on a consolidated basis is now approximately 62.2% for the public and 37.8% for Hess Corporation (HES). Effective as of the closing of the GIP offering, the three members of the Board of Directors of Hess Midstream’s general partner previously designated by GIP, William J. Brilliant, James K. Lee and Scott E. Telesz, resigned from the Board. The Board now comprises a maximum of eight directors, of which no more than four directors may be affiliated with Hess and the remaining directors must be independent.