Hess Midstream Partners LP Files Registration Statement On Form S-1 For IPO

(RTTNews) - Hess Corp. (HES) announced that Hess Midstream Partners LP, its wholly owned subsidiary has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission or SEC related to its proposed initial public offering of common units representing limited partner interests. The offering is expected to occur in the first quarter of 2015.

Hess Midstream Partners intends to list its common units on the Stock Exchange under the symbol "HESM." The number of common units to be offered and the price range for the offering have not yet been determined.

Hess Midstream Partners' initial assets will be contributed by Hess and are expected to include a 30% interest in Hess' natural gas processing plant located in Tioga, North Dakota; a 50% interest in Hess' rail loading terminal located in Tioga, along with the associated rail cars; a 50% interest in Hess' crude oil truck and pipeline terminal located in Williams County, North Dakota and a 100% interest in Hess' propane storage cavern and rail and truck transloading facility located in Mentor, Minnesota, according to the company.