10:11 AM EDT, 08/05/2025 (MT Newswires) -- Hess Midstream ( HESM ) said Tuesday it signed agreements for a two-part $100 million share repurchase program.

The company's subsidiary Hess Midstream Operations agreed to repurchase about 700,000 of its class B units from an affiliate of Chevron ( CVX ) for approximately $30 million. The unit repurchase is expected to close on Friday, according to a statement.

Hess Midstream ( HESM ) also entered into an accelerated share repurchase agreement with JPMorgan Chase ( JPM ) to repurchase $70 million of its publicly traded class A shares. The final settlement of the transactions under the agreement is expected in September, the statement said.

Hess Midstream ( HESM ) said it plans to fund both transactions with borrowings under its existing revolving credit facility.

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