Chevron shifts CFO to lead Oil, Products & Gas division in 2027 reshuffle

Chevron (CVX) agreed to sell stakes in Hess Midstream (HESM) and DJ Basin assets. The deal extends Bakken contracts, reduces midstream costs by half, and includes $200M in cash. Chevron expects a $3B-$4B after-tax loss and plans to remove HESM's ~$3.7B debt from its balance sheet. The transaction is expected to close by year-end.

Chevron (CVX) restructured midstream contracts with Hess Midstream LP, extending agreements and adding new contracts in the Bakken and DJ Basin. The deal aims to cut midstream costs, improve earnings, and reduce debt by $3.7B, but will incur a $3B-$4B one-time loss. CVX offers a 3.3% dividend yield with a 61% payout ratio and 6.4% 3-year growth rate, trading 24.2% above its GF Value of $167.09.

Chevron will sell its stake in Hess Midstream and DJ Basin assets for $200M, reducing Bakken midstream costs by 50% and boosting returns. The deal, expected to close by late 2026, will also remove $3.7B in debt from Chevron's balance sheet but result in a $3B-$4B after-tax loss. Chevron acquired Hess Corporation in July 2025.

Chevron (CVX) plans to sell its stakes in Hess Midstream and DJ Basin assets, expecting a $3-4B after-tax loss. The deal includes $200M cash and revised Bakken contracts, which may cut midstream costs by 50%. The transaction, pending approvals, is set to close by year-end 2026.

CHEVRON CORP (CVX) filed an SEC Form 8-K — Other Events. News release EXHIBIT 99.1 Chevron to Divest its Ownership Interests in Hess Midstream and DJ Basin Crude Midstream Assets • Chevron to divest its ownership interests in Hess Midstream and DJ Basin crude oil midstream assets in exchange for extended and improved Bakken midstream c

Chevron (CVX) agreed to restructure Bakken contracts, reducing midstream costs by ~50%. It will divest its Hess Midstream stake and DJ Basin crude assets, expecting a $3–$4B after-tax loss. The move aims to lower costs and simplify operations post-Hess acquisition.