Hess Midstream LP Class A Representing Limited Partner Interests (HESM)

Competitors to Hess Midstream LP Class A Representing Limited Partner Interests (HESM)

EnLink Midstream, LLC 

EnLink Midstream operates in a similar segment to Hess Midstream, providing natural gas, natural gas liquids, and crude oil services throughout the U.S. EnLink’s competitive advantage lies in its diverse and integrated asset base that spans several key production areas, which provides flexibility and efficiency in operations. While both companies have a strong focus in the midstream space, EnLink's broader geographic footprint allows it to manage risk more effectively, whereas Hess Midstream's targeted operations can lead to specialized service advantages in its primary markets.

Magellan Midstream Partners, L.P.

Magellan Midstream Partners specializes in the transportation and storage of refined petroleum products and crude oil, presenting a different competitive angle than Hess Midstream, which focuses heavily on natural gas and its liquids. Magellan’s extensive pipeline system and integrated storage capabilities enable efficiency in the refined products market, creating a strong competitive positioning especially when it comes to servicing retail and commercial needs across the U.S. While Hess Midstream does not compete in the same product segments as aggressively, Magellan's expertise in its areas grants it leading advantages in revenue generation despite Hess's solid market presence.

ONEOK, Inc. 

ONEOK, Inc. is a significant player in the midstream sector, primarily focusing on natural gas and natural gas liquids. Like Hess Midstream, ONEOK operates extensive gathering, processing, and transportation systems, which allows them to serve producers in the same regions. Their established infrastructure and large-scale operations provide a competitive advantage in cost efficiency and market presence. The company's long-term contracts and customer relationships further enhance its stability against risks associated with market fluctuations.

TC Energy Corporation 

TC Energy Corporation is a major competitor in the North American midstream sector, known for its extensive pipeline network and storage facilities for both oil and gas. They compete with Hess Midstream by offering diverse services including transportation and storage solutions across continental borders. TC Energy’s economies of scale and integrated operations give them a competitive edge, allowing them to efficiently manage costs and optimize asset utilization. However, Hess Midstream's focused business model specifically in the Bakken region creates opportunities for niche growth directly in that market.

Williams Companies, Inc. 

Williams Companies focuses primarily on the processing and transportation of natural gas and natural gas products, making it a formidable competitor to Hess Midstream. Their established infrastructure and experience in the industry give them a competitive advantage, particularly as they have a vast network and a reputation for reliability and efficiency in transporting gas. Although Hess Midstream has a strong presence in the Bakken formation, Williams' larger portfolio and established market relationships position it favorably in attracting contracts that can provide substantial stability and revenue streams.