Through the acquisition of 50% of Hess Infrastructure Partners’ midstream crude oil and natural gas infrastructure business in the Bakken Shale region, GIP has formed a strategic partnership with Hess Corporation to jointly own and operate critical infrastructure in one of the most important crude oil and natural gas producing basins in North America.
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The midstream infrastructure is principally located in North Dakota and includes crude oil and natural gas gathering systems, a natural gas processing and fractionation facility, crude oil export assets and an underground propane storage facility.
This strategic joint venture partnership combines Hess, a leading independent energy exploration and production company, with GIP, one of the most accomplished investors in the energy midstream infrastructure space, and demonstrates GIP’s ability to work synergistically with a high quality producer in providing critical midstream services in one of America’s most important oil producing basins.View Next Investment