Hess Midstream LP (NYSE:HESM) Q4 2022 Earnings Conference Call January 25, 2023 ET

Company Participants

Jennifer Gordon - Vice President, Investor Relations

John Gatling - President and Chief Operating Officer

Jonathan Stein - Chief Financial Officer

Conference Call Participants

Doug Irwin - Citi

John Mackay - Goldman Sachs

Operator

Good day, ladies and gentlemen, and welcome to the Fourth Quarter 2022 Hess Midstream Conference Call. My name is Twanda, and I will be your operator for today. At this time, all participants are in a listen-only mode. After the speakers' presentation there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded for replay purposes.

I would now like to turn the conference over to Jennifer Gordon, Vice President of Investor Relations. You may proceed.

Jennifer Gordon

Thank you. Good afternoon, everyone, and thank you for participating in our fourth quarter earnings conference call. Our earnings release was issued this morning and appears on our website www.hessmidstream.com.

Today's conference call contains projections and other forward-looking statements within the meaning of the federal securities laws. These statements are subject to known and unknown risks and uncertainties that may cause actual results to differ from those expressed or implied in such statements. These risks include those set forth in the Risk Factors section of Hess Midstream's filings with the SEC.

Also on today's conference call, we may discuss certain non-GAAP financial measures. A reconciliation of the differences between these non-GAAP financial measures and the most directly comparable GAAP financial measures can be found in the earnings release.

With me today are John Gatling, President and Chief Operating Officer; and Jonathan Stein, Chief Financial Officer.

I'll now turn the call over to John Gatling.

John Gatling

Thanks Jennifer. Good afternoon, everyone, and welcome to Hess Midstream's fourth quarter 2022 conference call.

Today, I'll review our 2022 operating performance and highlights, provide details regarding our 2023 plans and outlook for through 2025 and discuss Hess Corporation's latest results and outlook for the Bakken. Jonathan will then review our financial results.

Despite severe winter weather conditions, 2022 was a year of continued strong performance and execution for Hess Midstream. We delivered volume growth and expanded our compression capacity by more than 25%, further enhancing our gas capture capability. As discussed in our guidance release, we've established our 2025 minimum volume commitments and we're confident in the implied volume growth which is underpinned by the following.