Midstream Infrastructure · Mid-Tier · Midstream · Balanced · USA
Last updated 21 June 2026
Data compiled from public filings — information only, not investment advice. AI‑assisted; see methodology.
Portfolio Aggregate · 1 project
Portfolio mode — asset rows are for context only; tab totals use the company aggregation.
Hess Midstream LP Consolidated
Portfolio · Other · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Fee-based midstream master limited partnership providing gathering, compression, processing, fractionation, terminaling, storage and water handling services in the Bakken, primarily supporting its anchor customer (Chevron, following Chevron's acquisition of Hess) under long-term, minimum-volume-commitment commercial agreements. Assets include natural gas, crude oil and produced-water gathering systems, the Tioga Gas Plant, a 50% interest in the LM4 processing joint venture with Targa, crude oil terminals (Ramberg, Tioga Rail), the Mentor propane storage terminal, and crude export connections to DAPL and third-party pipelines. The company does not own or take title to the volumes it handles.
Portfolio Aggregate · Processing facilities
Premium access required
This content is available on a paid plan.
Upgrade to Premium to unlock this content.
Processing facilities · 10 projects
Natural Gas Gathering and Compression
Asset · Gathering System · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Natural gas gathering and compression system of approximately 1,430 miles of high- and low-pressure natural gas and NGL gathering pipelines connecting Chevron- and third-party-operated wells to the Tioga Gas Plant, the LM4 plant and third-party facilities, with current gathering capacity up to approximately 685 MMcf/d and aggregate compression capacity of approximately 550 MMcf/d (+20 MMcf/d added in 2025; a further ~50 MMcf/d greenfield compressor station came online in early 2026). 2025 gas gathering throughput averaged 458 MMcf/d.
Processing facilities
As at 31 December 2025
Premium access required
This content is available on a paid plan.
Upgrade to Premium to unlock this content.
Tioga Gas Plant
Asset · Gas Processing · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
One of the largest natural gas processing and fractionation plants in North Dakota, with total cryogenic processing capacity of 400 MMcf/d (ethane extraction), a 60 MBbl/d NGL fractionation facility (ethane, propane, butane, natural gasoline) and 25 MBbl/d of stabilized y-grade liquid recovery, for total NGL production capability of approximately 80 MBbl/d. Includes propane truck loading (10 MBbl/d), ~80 MBbls of NGL shell storage and a CNG terminal. 2025 gas processing throughput averaged 445 MMcf/d.
Processing facilities
As at 31 December 2025
Premium access required
This content is available on a paid plan.
Upgrade to Premium to unlock this content.
Mentor Storage Terminal
Asset · Storage Liquids · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Propane storage and rail/truck loading-and-unloading facility in Mentor, Minnesota with aggregate working storage capacity of approximately 330 MBbls (a 325 MBbls underground cavern plus three above-ground bullet tanks of ~5 MBbls). Includes a dehydration facility, 11 rail unloading racks and two truck loading racks; the cavern and truck racks each have ~6 MBbl/d propane injection/withdrawal capacity.
Processing facilities
As at 31 December 2025
Premium access required
This content is available on a paid plan.
Upgrade to Premium to unlock this content.
Crude Oil Gathering
Asset · Gathering System · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Crude oil gathering system of approximately 615 miles of pipelines connecting Chevron- and third-party-operated wells to the Ramberg Terminal Facility, the Tioga Rail Terminal and Johnson's Corner Header System, with current capacity up to approximately 290 MBbl/d. Includes the Hawkeye Oil pumping and truck-unloading facility (75 MBbl/d receipt, ~10 MBbls storage). 2025 crude gathering throughput averaged 121 MBbl/d and crude terminaling 129 MBbl/d.
Processing facilities
As at 31 December 2025
Premium access required
This content is available on a paid plan.
Upgrade to Premium to unlock this content.
Ramberg Terminal Facility
Asset · Storage Liquids · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Crude oil pipeline and truck unloading facility in Williams County receiving crude by pipeline and truck from Chevron and third parties and exporting it to the Tioga Rail Terminal or directly into DAPL and other interstate pipelines. Combined receipt capability ~200 MBbl/d and redelivery capability up to ~285 MBbl/d across multiple pipelines, with ~40 MBbls of shell storage (plus 240 MBbls with third parties).
Processing facilities
As at 31 December 2025
Premium access required
This content is available on a paid plan.
Upgrade to Premium to unlock this content.
Little Missouri 4 (LM4)
Asset · Gas Processing · Operating · Ownership 50%
Project information
As at 31 December 2025
Description
As at 31 December 2025
50/50 gas processing joint venture with Targa Resources (Targa operates) placed in service in 2019, a 200 MMcf/d plant at Targa's Little Missouri facility south of the Missouri River; Hess Midstream is entitled to 100 MMcf/d of the plant's processing capacity. The plant has export capacity of approximately 135 MMcf/d of residue gas to the Northern Border Pipeline and 40 MBbl/d of NGLs to the ONEOK Elk Creek Pipeline.
Processing facilities
As at 31 December 2025
Premium access required
This content is available on a paid plan.
Upgrade to Premium to unlock this content.
Produced Water Gathering and Disposal
Asset · Water Handling · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Produced water gathering and disposal system of approximately 360 miles of pipelines transporting produced water from well sites to water handling facilities. As of December 31, 2025 the company had 13 owned-and-operated water handling and disposal facilities with combined permitted disposal capacity of 185 MBbl/d (plus access to 13 third-party facilities with ~180 MBbl/d). 2025 water gathering throughput averaged 131 MBbl/d.
Processing facilities
As at 31 December 2025
Premium access required
This content is available on a paid plan.
Upgrade to Premium to unlock this content.
DAPL and Interstate Pipeline Connections
Asset · Pipeline Crude · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Crude oil export connections from the Ramberg Terminal Facility and Johnson's Corner Header System directly into the Dakota Access Pipeline (DAPL) and other third-party interstate long-haul pipeline systems, providing market access for gathered Bakken crude.
Processing facilities
Premium access required
This content is available on a paid plan.
Upgrade to Premium to unlock this content.
Johnson's Corner Header System
Asset · Pipeline Crude · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Crude oil header system that receives crude from the crude oil gathering system and the Hawkeye Oil Facility and provides connectivity to DAPL and third-party interstate pipelines for crude export.
Processing facilities
Premium access required
This content is available on a paid plan.
Upgrade to Premium to unlock this content.
Tioga Rail Terminal
Asset · Storage Liquids · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Crude oil and NGL rail loading terminal in Tioga, North Dakota that loads crude oil onto rail cars for transport to markets and is interconnected with the crude oil gathering system, the Ramberg Terminal Facility and the Tioga Gas Plant.
Processing facilities
Premium access required
This content is available on a paid plan.
Upgrade to Premium to unlock this content.
Assumptions
- The projects listed here reflect the information captured in this workspace and are not necessarily a complete picture of the company's portfolio. For authoritative figures, refer to the company's official filings.
Premium access required
This content is available on a paid plan.
Upgrade to Premium to unlock this content.
How to read this tab
- The tables below list unit codes most often used in the Oil & Gas sector for this company. MetalPilot stores contained metal or product in the codes below; grade and tonnage use separate fields. In side-by-side comparison views (stock page Portfolio tab, watchlist By sector), heterogeneous source units are converted to each commodity's preferred display unit (for example Moz Au, kt Cu, MMbbl oil) before summing; the same canonical codes appear in project data.
What the Portfolio tab shows
- The Portfolio tab presents a project-level view of the company's reported assets, built from publicly disclosed information (technical reports, annual filings, MD&A, investor presentations, MRMR / R&R statements, NI 43-101 / NI 51-101 / SEC S-K 1300 / SEC S-K 1200 / JORC / SAMREC / PERC / PRMS / COGEH filings, and similar primary sources).
- Figures are grouped by project type (mining, oil & gas, royalty, stream, processing facility, development, portfolio aggregate) and are shown alongside the headline reserve base, headline production, headline grade / quality, cost benchmarks, estimated lifetime, commercial terms (for royalties / streams), operational capacity (for processing) and a single-figure rating where the underlying data supports one.
- Each data table on the Portfolio tab is followed by ONE Assumptions footnote describing the modelling choices for that table; KPI stat-card assumptions appear in the bottom block instead. All legal and section disclaimers are merged into a single disclaimer list at the bottom of the Portfolio tab.
Concepts in your sector — Oil & gas
- 1P/2P/3P — cumulative uncertainty. 1P = Proved (≥90%); 2P = Proved+Probable (≥50%, primary non-SEC metric); 3P adds Possible (≥10%). SEC filers often publish 1P only.
- Contingent (1C/2C/3C) = discovered, sub-commercial. Prospective (1U/2U/3U) = undiscovered. Neither feeds economic models without further work.
- Developed vs Undeveloped: PDP (producing), PDNP (developed non-producing), PUD (undeveloped). Reserves walk PUD→PDP is reclassification, not new discovery.
- BOE uses 6 Mcf gas : 1 bbl oil (thermal, not economic). Some issuers use 5.8:1 — read footnotes.
- Pricing case: Forecast vs Constant (NI 51-101/PRMS) or SEC 12-month average. Do not add cases together.
Portfolio tab — table guide
- Portfolio KPIs — company-level headline numbers aggregated from the featured projects (project counts, attributable annual production by commodity, attributable resource base by commodity, last filing date, operator share). USD value lines multiply attributable volumes by the resolved snapshot price.
- Portfolio snapshot — one-screen summary of the portfolio: counts by type and status, country mix, reporting standards used, operator share, primary commodity, attributable annual production summary and attributable resource base summary.
- Oil & Gas — one row per O&G project (typically a field, licence, play or basin asset), with columns for location, status, primary hydrocarbons, production (with rating), reserves & resources (with rating), costs and estimated lifetime.
- Royalty — one row per royalty interest held by the company. Columns cover the underlying project, operator, commodity, commercial terms (rate, type, cap, area-of-interest), attributable production, attributable reserves and estimated lifetime.
- Stream — one row per metal stream held by the company. Each row shows the underlying project, the streamed commodity, the headline stream percentage, the ongoing per-ounce / per-tonne payment, and attributable production / reserves.
- Processing facilities — one row per midstream / processing facility (pipeline, fractionator, LNG train, storage cavern, refinery, smelter, mill, heap-leach pad, CPP, etc.). Columns include nameplate capacity, contracted capacity, feedstock commodities and operational footprint.
- Development — projects in development status or in a pre-production lifecycle phase. The production column is re-labelled 'Targeted production (rating)' to highlight that the figures are plans, not actuals.
- Portfolio Aggregate — a single company-level row used when the company itself publishes a portfolio rollup (e.g. company-wide 2P barrels across all properties).
- Reserves & resources — detail — a leaf-category pivot showing every reserve and resource category disclosed across the projects.
- Reserves walk — gross (disclosed) — year-by-year reconciliation of the opening balance to the closing balance, broken into Extensions & discoveries, Revisions, Improved recovery, Purchases, Divestitures, Production and Conversion to developed.
- Reserves walk — net change by year — per-year summary of net additions and net deductions across the portfolio.
- NPV (grouped) — all NPV rows captured from the filings, grouped by commodity, resource category, development status and pricing case. Each NPV figure is shown with its discount rate, basis (before-tax / after-tax), currency and value scale.
Ownership / Working interest
- Ownership percentage means the company's working-interest share of the asset: its slice of the project before royalties and before government take. It is shown on a 0–100 scale.
- Mines, oil and gas fields, and processing facilities — this is how much of the asset belongs to the company under that working-interest idea. One hundred percent is fully owned; a lower number usually means partners share the rest.
- Royalties and streaming agreements — the percentage is often not the story; what matters economically is usually the royalty or stream rate, shown elsewhere alongside these figures.
- Oil and gas — read this as gross working interest only. Do not treat it as net production or net wells after royalties; when filings distinguish gross from net, that shows up in how the resource numbers themselves are labelled.
- Below 100% — the short summary for each project names other owners and their stakes when the source says who they are.
- NRI vs WI (O&G). Working interest (WI) is the obligation to pay a share of costs; net revenue interest (NRI) is the share of revenue after royalties and overriding-royalty interests. A 100% WI well rarely produces 100% NRI; typical onshore U.S. NRI is 75–87.5% of WI depending on the lease royalty.
- Operator vs non-operator. The operator runs day-to-day operations; non-operating partners pay their WI share of costs but do not run the asset. Some Portfolio rows show operator share where disclosed.
Hydrocarbon commodity — notes
- The Commodity column shows normalized labels; values are stored as snake_case CommodityCode strings in pkg/domain and project resource rows (for example shale_gas, oil_equivalent).
- Benchmarks and typical relationship cells are informal market context for reading disclosures — they are not MetalPilot price inputs.
Crude grade primer
- API gravity — lower = heavier. Light crude is ≥ 31.1° API (≤ 870 kg/m³); heavy is 22.3–31.1° API; extra-heavy is < 22.3°. Bitumen is ≤ 10° API.
- Sulphur — sweet vs sour. Sweet crude has ≤ 0.5% sulphur; sour > 0.5%. Refineries price the discount on sour crude into the differential.
- WTI vs Brent vs WCS. WTI (West Texas Intermediate, Cushing OK) is the U.S. light-sweet benchmark; Brent (North Sea) is the global light-sweet benchmark; WCS (Western Canadian Select) is the heavy/sour benchmark for Canadian production.
Unit codes, conversion cheat sheets, cost benchmarks (AISC, C1–C3), reporting standards (NI 43-101, JORC, SEC S-K 1300) and resource/reserve category definitions live in the full terminology & units reference.
Each table lists the numeric band for scores 1–5 (production and resource base; grade where applicable for mining commodities) using the same thresholds as project rating stat cards. Only commodities that appear on featured projects for this document are listed.
Oil
Natural gas
NGL
Copper uses kt Cu bands (Mlb Cu when lb-scale copper resources appear on featured projects). Lithium grade uses hard-rock % Li₂O bands unless brine-style extraction or brine units appear on featured projects.
Assumptions
- Presented values are denominated in currency of the country where the company is headquartered. Values like market capitalization might differ from the values visible in other parts of the page, where the currency is always USD.
Copyright © 2026, Metal Pilot
We use strictly necessary cookies for authentication and site functionality. Optional analytics (Google Analytics) load only after you accept; we do not use advertising, remarketing, or Google Signals. We honour Global Privacy Control (GPC) and other recognised opt-out signals by keeping analytics off for that browser.