Hess Midstream LP-A 2026年季度报告

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934 For the quarter ended March 31, 2026 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934 For the transition period fromtoCommission File Number 001-39163 Hess Midstream LP (Exact name of Registrant as specified in its charter) DELAWARE(State or other jurisdiction of incorporation or organization) 1400 Smith StreetHouston, TX(Address of principal executive offices) (Registrant’s telephone number, including area code, is (832) 854-1000) Securities registered pursuant to Section 12(b) of the Act: Trading Symbol(s)HESM Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) hasbeen subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was requiredto submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule 12b‑2 of the Exchange Act. Large accelerated filer☒Non-accelerated filer☐ Accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b‑2 of the Exchange Act). Yes☐No☒ 128,350,881 Class A shares representing limited partner interests (“Class A Shares”) in the registrant were outstanding as of April 30,2026. HESS MIDSTREAM LPFORM 10-QTABLE OF CONTENTS PART I—FINANCIAL INFORMATION 1.Financial Statements (unaudited)Consolidated Balance Sheets at March 31, 2026 and December 31, 20252Consolidated Statements of Operations for the three months ended March 31, 2026 and 20253Consolidated Statements of Changes in Partners’ Capital (Deficit) for the three months ended March 31,2026 and 20254Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 20255Notes to Consolidated Financial Statements6 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations153.Quantitative and Qualitative Disclosures about Market Risk264.Controls and Procedures26 PART II—OTHER INFORMATION 1.Legal Proceedings1A.Risk Factors2.Unregistered Sales of Equity Securities and Use of Proceeds5.Other Information6.Exhibits 2727272728 Signatures29Certifications PART I—FINANCIAL INFORMATION (CONT’D)HESS MIDSTREAM LP CONSOLIDATED BALANCE SHEETS (UNAUDITED) PART I—FINANCIAL INFORMATION (CONT’D)HESS MIDSTREAM LP CONSOLIDATED STATEMENTS OF OPERATIONS(UNAUDITED) PART I—FINANCIAL INFORMATION (CONT’D)HESS MIDSTREAM LP PART I—FINANCIAL INFORMATION (CONT’D)HESS MIDSTREAM LP CONSOLIDATED STATEMENTS OF CASH FLOWS(UNAUDITED) PART I – FINANCIAL INFORMATION (CONT’D)HESS MIDSTREAM LP Table of Contents Note 1. Basis of Presentation Unless the context otherwise requires, references in this report to the “Company,” “we,” “our,” “us” or like terms, refer toHess Midstream LP and its subsidiaries. References to “Sponsor” or “Sponsors” refer to (a) Hess Corporation (“Hess”) and GIPII Blue Holding, L.P. (“GIP”) when referring to periods prior to May 30, 2025, (b) Hess from May 30, 2025 to July 17, 2025, and(c) Chevron from July 18, 2025. As used in this report, the term “Chevron” may refer to Chevron Corporation, one or more of its consolidated subsidiaries, or toall of them taken as a whole. All of these terms are used for convenience only and are not intended as a precise description of anyof the separate companies, each of which manages its own affairs. The consolidated financial statements included in this report reflect all normal and recurring adjustments which, in the opinion ofmanagement, are necessary for a fair presentation of our consolidated financial position at March 31, 2026 and December 31, 2025,the consolidated results of operations and cash flows for the three months ended March 31, 2026 and 2025. The Company has noitems of other comprehensive income (loss); therefore, net income (loss) is equal to comprehensive income (loss). The unauditedresults of operations for the interim periods reported are not necessarily indicative