Hess Corporation (HES)

[DewDiligence]

HES files S-1 for spinoff of Bakken midstream MLP, to be called Hess Midstream Partners with the ticker symbol ‘HESM’:

http://finance.yahoo.com/news/hess-midstream-partners-lp-files-120400459.html

…Hess Midstream Partners’ initial assets will be contributed by Hess and are expected to include a 30% interest in Hess’ natural gas processing plant located in Tioga, North Dakota; a 50% interest in Hess’ rail loading terminal located in Tioga, along with the associated rail cars; a 50% interest in Hess’ crude oil truck and pipeline terminal located in Williams County, North Dakota; and a 100% interest in Hess’ propane storage cavern and rail and truck transloading facility located in Mentor, Minnesota.

The spinoff is planned for 1Q15.