Profusa partners with NVIDIA to develop AI-powered biomarker portal
Hess Midstream LP (NYSE:HESM) reported Thursday that John A. Gatling will resign as President and Chief Operating Officer of Hess Midstream GP LLC, effective September 26. The board has appointed Michael S. Bast to succeed Gatling in these roles, with the change also taking effect September 26. The company, currently valued at $8.55 billion, has demonstrated strong operational performance with 9.02% revenue growth over the last twelve months and maintains a healthy P/E ratio of 15.04.Want deeper insights? InvestingPro analysis shows this company has additional strengths, with multiple exclusive ProTips available for subscribers.
According to the company’s SEC filing, Bast has served as Director of Upstream Operations and the Maintenance, Reliability and Integrity departments at Hess Corporation since November 2022. Hess Corporation is a wholly owned subsidiary of Chevron Corporation (NYSE:CVX). Bast has been responsible for overseeing oil and gas production, maintenance, and engineering activities in the Bakken region. From November 2019 to November 2022, he was Director of Midstream Operations at Hess, overseeing gathering, processing, export, and disposal activities for oil, gas, and water. Bast joined Hess in 2007 and previously worked at Chevron from 1998 to 2006.
Effective October 1, Bast will also become an employee of Chevron U.S.A. Inc., another Chevron subsidiary. The filing states that officers or employees of Chevron U.S.A. or its subsidiaries who serve as officers of Hess Midstream GP LLC do not receive additional compensation from Hess Midstream LP or its general partner for their service.
The company also disclosed that Bast does not have any direct or indirect material interest in any transactions requiring disclosure under SEC regulations, aside from his employment with Chevron and its subsidiaries.
Hess Midstream LP is managed and controlled by Hess Midstream GP LLC, which is wholly owned by Hess Infrastructure Partners GP LLC. The latter is fully owned by Hess Investments North Dakota LLC, an indirect, wholly owned subsidiary of Chevron.
This information is based on a statement from an SEC filing submitted by Hess Midstream LP.
In other recent news, Hess Midstream Partners LP reported strong financial results for the second quarter of 2025. The company achieved earnings per share of $0.74, which exceeded analyst predictions of $0.66. Additionally, Hess Midstream’s revenue reached $414.2 million, surpassing the expected $405.13 million. These figures indicate a solid performance for the company, contributing to a positive outlook among investors. Analysts had anticipated lower earnings and revenue, but the company’s results outpaced these forecasts. The better-than-expected earnings report reflects Hess Midstream’s effective strategies and operational execution. These recent developments highlight the company’s financial strength and ability to outperform market expectations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.