Hess Midstream (HESM) said Tuesday it launched a combined $60 million repurchase of its class A shares from the public and class B units of its subsidiary Hess Midstream Operations from an affiliate of Chevron (CVX).
Hess said it entered into an accelerated share repurchase agreement with JPMorgan Chase (JPM) to buy back $42 million of its publicly traded class A shares.
The company also said it executed a definitive agreement for the repurchase of around $18 million of class B units by Hess Midstream Operations from Chevron.
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