CVX to Divest Hess Midstream, DJ Basin Assets for $200M; Expects $3-4B Loss, Deconsolidates $3.7B Debt
· The NYC Memo
Chevron Corporation (CVX) announced on October 6, 2026, it entered definitive agreements to divest its ownership interests and general partner position in Hess Midstream LP and its DJ Basin crude oil midstream assets. The company will receive $200 million in cash consideration and expects a one-time after-tax loss of $3 billion to $4 billion upon closing, anticipated by year-end 2026.
This transaction is also expected to deconsolidate approximately $3.7 billion of Hess Midstream's debt.