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HESM vs SOC

Hess Midstream LP Class A Share representing a limited partner Interest and Sable Offshore Corp.

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Hess Midstream LP Class A Share representing a limited partner Interest

Hess Midstream LP owns, operates, develops, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities. Its gathering systems consists of approximately 1,415 miles of high and low pressure natural gas and natural gas liquids gathering pipelines with capacity of approximately 675 million cubic feet per day; crude oil gathering system comprises approximately 590 miles of crude oil gathering pipelines; and produced water gathering system that includes approximately 330 miles of pipelines in gathering systems. The Processing and Storage segment comprises Tioga Gas Plant, a natural gas processing and fractionation plant located in Tioga, North Dakota; Mentor Storage Terminal, a propane storage cavern and rail, and truck loading and unloading facility located in Mentor, Minnesota; and Terminaling and Export segment that owns Ramberg terminal facility, the Tioga rail terminal, crude oil rail cars, and other Dakota access pipeline connections, as well as Johnson's Corner Header System, a crude oil pipeline header system. Hess Midstream LP was formerly known as Hess Midstream Partners LP and changed its name to Hess Midstream LP in December 2019. Hess Midstream LP was founded in 2014 and is based in Houston, Texas.

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Sable Offshore Corp.

Sable Offshore Corp. operates as an independent oil and gas company in the United States. The company operates through three platforms located in federal waters offshore California. It also owns and operates 16 federal leases across approximately 76,000 acres, as well as subsea pipelines that transports crude oil, natural gas, and produced water from the platforms to the onshore processing facilities. The company was formerly known as Flame Acquisition Corp. and changed its name to Sable Offshore Corp. in February 2024. Sable Offshore Corp. was incorporated in 2020 and is headquartered in Houston, Texas.

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