Filing Details

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)*

 

 

Hess Midstream LP

(Name of Issuer)

Class A Shares

(Title of Class of Securities)

428103105

(CUSIP Number)

Timothy B. Goodell

Hess Corporation

1185 Avenue of the Americas

New York, NY 10036

(212) 997-8500

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

October 5, 2021

(Date of Event Which Requires Filing of this Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box.  ☐

 

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent.

 

 

 

 

*	The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

CUSIP No. 428103105		13D		Page 1 of 8 pages

 

1		Name of Reporting Person     Hess Midstream GP LP
2		Check the Appropriate Box if a Member of a Group   (a)  ☐        (b)  ☐
3		SEC Use Only
4		Source of Funds     OO
5		Check if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e)     ☐
6		Citizenship or Place of Organization     Delaware

Number of Shares  Beneficially  Owned by Each Reporting Person with				7		Sole Voting Power     0
				8		Shared Voting Power     898,000
				9		Sole Dispositive Power     0
				10		Shared Dispositive Power     898,000

11		Aggregate Amount Beneficially Owned by Each Reporting Person     898,000
12		Check if the Aggregate Amount in Row (11) Excludes Certain Shares     Not Applicable
13		Percent of Class Represented by Amount in Row (11)     2.7%
14		Type of Reporting Person     PN

CUSIP No. 428103105		13D		Page 2 of 8 pages

 

1		Name of Reporting Person     Hess Midstream GP LLC
2		Check the Appropriate Box if a Member of a Group   (a)  ☐        (b)  ☐
3		SEC Use Only
4		Source of Funds     OO
5		Check if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e)     ☐
6		Citizenship or Place of Organization     Delaware

Number of Shares  Beneficially  Owned by Each Reporting Person with				7		Sole Voting Power     0
				8		Shared Voting Power     898,000
				9		Sole Dispositive Power     0
				10		Shared Dispositive Power     898,000

11		Aggregate Amount Beneficially Owned by Each Reporting Person     898,000
12		Check if the Aggregate Amount in Row (11) Excludes Certain Shares     Not Applicable
13		Percent of Class Represented by Amount in Row (11)     2.7%
14		Type of Reporting Person     OO (Delaware limited liability company)

CUSIP No. 428103105		13D		Page 3 of 8 pages

 

1		Name of Reporting Person     Hess Infrastructure Partners GP LLC
2		Check the Appropriate Box if a Member of a Group   (a)  ☐        (b)  ☐
3		SEC Use Only
4		Source of Funds     OO
5		Check if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e)     ☐
6		Citizenship or Place of Organization     Delaware

Number of Shares  Beneficially  Owned by Each Reporting Person with				7		Sole Voting Power     0
				8		Shared Voting Power     898,000
				9		Sole Dispositive Power     0
				10		Shared Dispositive Power     898,000

11		Aggregate Amount Beneficially Owned by Each Reporting Person     898,000
12		Check if the Aggregate Amount in Row (11) Excludes Certain Shares     Not Applicable
13		Percent of Class Represented by Amount in Row (11)     2.7%
14		Type of Reporting Person     OO (Delaware limited liability company)

CUSIP No. 428103105		13D		Page 4 of 8 pages

 

1		Name of Reporting Person     Hess Investments North Dakota LLC
2		Check the Appropriate Box if a Member of a Group   (a)  ☐        (b)  ☐
3		SEC Use Only
4		Source of Funds     OO
5		Check if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e)     ☐
6		Citizenship or Place of Organization     Delaware

Number of Shares  Beneficially  Owned by Each Reporting Person with				7		Sole Voting Power     0
				8		Shared Voting Power     110,718,964
				9		Sole Dispositive Power     0
				10		Shared Dispositive Power     110,718,964

11		Aggregate Amount Beneficially Owned by Each Reporting Person     110,718,964
12		Check if the Aggregate Amount in Row (11) Excludes Certain Shares     Not Applicable
13		Percent of Class Represented by Amount in Row (11)     77.2%
14		Type of Reporting Person     OO (Delaware limited liability company)

CUSIP No. 428103105		13D		Page 5 of 8 pages

 

1		Name of Reporting Person     Hess Corporation
2		Check the Appropriate Box if a Member of a Group   (a)  ☐        (b)  ☐
3		SEC Use Only
4		Source of Funds     OO
5		Check if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e)     ☐
6		Citizenship or Place of Organization     Delaware

Number of Shares  Beneficially  Owned by Each Reporting Person with				7		Sole Voting Power     0
				8		Shared Voting Power     110,718,964
				9		Sole Dispositive Power     0
				10		Shared Dispositive Power     110,718,964

11		Aggregate Amount Beneficially Owned by Each Reporting Person     110,718,964
12		Check if the Aggregate Amount in Row (11) Excludes Certain Shares     Not Applicable
13		Percent of Class Represented by Amount in Row (11)     77.2%
14		Type of Reporting Person     CO

CUSIP No. 428103105		13D		Page 6 of 8 pages

 

Explanatory Note

This Amendment No. 3 to Schedule 13D (Amendment No. 3) amends and supplements the statement on Schedule 13D originally filed with the United States Securities and Exchange Commission on December 17, 2019 (as amended, the Statement), relating to the Class A Shares representing limited partner interests (the Class A Shares) of Hess Midstream LP, a Delaware limited partnership (the Issuer). Capitalized terms used herein without definition shall have the meaning set forth in the Statement.

 

Item 4.

Purpose of Transaction.

Item 4 of the Statement is hereby amended and supplemented as follows:

On October 5, 2021, GIP II Blue Holding, L.P. (Blue Holding) and Hess Investments North Dakota LLC (the Selling Stockholders) agreed to sell 4,312,500 and 4,312,500 Class A Shares, respectively, at a price of $25.116 per share (the Offering) to J.P. Morgan Securities LLC and Citigroup Global Markets Inc., as representatives to the underwriters (collectively, the Underwriters) pursuant to the terms and conditions of the underwriting agreement (the Underwriting Agreement) entered into between the Issuer, the Selling Stockholders and the Underwriters. The sale was consummated on October 8, 2021. In connection with the sale, each Selling Stockholder redeemed 4,312,500 OpCo Class B Units for a corresponding number of Class A Shares.

Pursuant to the Underwriting Agreement, the Selling Stockholders agreed that, subject to specified exceptions, without the prior written consent of the Underwriter, they will not, during the period ending 60 days after the date of the final prospectus with respect to the Offering: (i) offer, sell, contract to sell, pledge, grant any option to purchase, lend or otherwise dispose of any Class A Shares, or any options or warrants to purchase Class A Shares, or any securities that are convertible into or exchangeable for, or that represent the right to receive, Class A Shares, or publicly disclose the intention to make any offer, sale, pledge, disposition or filing with respect to Class A Shares; (ii) enter into any transaction or other agreement that transfers, in whole or in part, any of the economic consequences of ownership of the Class; or (iii) otherwise publicly announce any intention to engage in or cause any action or activity described in clause (i) above or transaction or arrangement described in clause (ii) above.

The foregoing descriptions of the Underwriting Agreement does not purport to be complete and is qualified in its entirety by reference to the Underwriting Agreement, which is filed as Exhibit 7 hereto and which is incorporated herein by reference.

 

Item 5.

Interest in Securities of the Issuer.

Item 5 of the Statement is hereby amended and restated in its entirety as follows:

(a) (b)

The following sets forth the aggregate number of Class A Shares and percentage of Class A Shares outstanding beneficially owned by each of the Reporting Persons, as well as the number of Class A Shares as to which each Reporting Person has the sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition of, or shared power to dispose or to direct the disposition of, as of the date hereof, based on 33,663,417 Class A Shares outstanding following the consummation of Offering:

 

Reporting Person		Amount beneficially owned				Percent of class				Sole power to vote or to direct the vote				Shared power to vote or to direct the vote				Sole power to dispose or to direct the disposition				Shared power to dispose or to direct the disposition
Hess Midstream GP LP			898,000				2.7	%			0				898,000				0				898,000
Hess Midstream GP LLC			898,000				2.7	%			0				898,000				0				898,000

CUSIP No. 428103105		13D		Page 7 of 8 pages

 

Hess Infrastructure Partners GP LLC			898,000				2.7	%			0				898,000				0				898,000
Hess Investments North Dakota LLC			110,718,964				77.2	%			0				110,718,964				0				110,718,964
Hess Corporation			110,718,964				77.2	%			0				110,718,964				0				110,718,964

New HESM GP LP is the record holder of 898,000 Class A Shares. HIP GP LLC is the sole member of New HESM GP LLC, which is the general partner of New HESM GP LP. HIP GP LLC is a 50/50 joint venture between Hess Investments and Blue Holding. As such, each of the foregoing entities may be deemed to beneficially own the securities held of record by New HESM GP LP.

In addition, Hess Investments is the record holder of 109,820,964 Opco Class B Units, which may be redeemed for Class A Shares on a one-for-one basis at the option of the holder.

Hess Investments is an indirect, wholly owned subsidiary of Hess Corporation. As a result, Hess Corporation may be deemed to share beneficial ownership of the securities held of record by Hess Investments and New HESM GP LP.

 

(c)	Except as described in Item 4, none of the Reporting Persons nor Related Persons has effected any transactions in the Class A Shares or Opco Class B Units during the past 60 days.

 

(d)

None.

 

(e)	Not applicable.

 

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

Item 6 of the Statement is hereby amended and supplemented as follows:

Item 4 above summarizes certain provisions of the Underwriting Agreement and is incorporated herein by reference. A copy of the Underwriting Agreement is attached as an exhibit hereto, and is incorporated herein by reference.

Except as set forth herein, none of the Reporting Persons or Related Persons has any contracts, arrangements, understandings or relationships (legal or otherwise) with any person with respect to any securities of the Issuer, including, but not limited to, any contracts, arrangements, understandings or relationships concerning the transfer or voting of such securities, finders fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or losses, or the giving or withholding of proxies.

 

Item 7.

Materials to be Filed as Exhibits

 

Exhibit Number*		Description
7		Underwriting Agreement, dated as of October 5, 2021, by and among Hess Investments North Dakota LLC, GIP II Blue Holding, L.P. and J.P. Morgan Securities LLC and Citigroup Global Markets Inc., as representatives of the underwriters (incorporated by reference to Exhibit 1.1 to the Issuers Current Report on Form 8-K filed on October 8, 2021).

CUSIP No. 428103105		13D		Page 8 of 8 pages

 

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: October 12, 2021