Hess Midstream LP (NYSE:HESM) Q3 2024 Results Conference Call October 30, 2024 12:00 PM ET

Company Participants

Jennifer Gordon - VP, IR
John Gatling - President, COO
Jonathan Stein - CFO

Conference Call Participants

Naomi Marfatia - UBS
Jackie Koletas - Goldman Sachs
Doug Irwin - Citi
Noah Katz - JPMorgan
Praneeth Satish - Wells Fargo

Operator

Good day, ladies and gentlemen, and welcome to the Third Quarter 2024 Hess Midstream Conference Call. My name is Gigi, and I'll be your operator for today. [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. Please proceed.

Jennifer Gordon

Thank you, Gigi. Good afternoon, everyone, and thank you for participating in our third 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 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 Third Quarter 2024 Conference Call. Today I'll discuss our third quarter performance and review Hess Corporation's results and outlook for the Bakken. Jonathan will then review our financial results and guidance.

In the third quarter, Hess Midstream continued to deliver strong operating and financial performance with throughput volumes averaging 419 million cubic foot per day for gas processing, 122,000 barrels of oil per day for crude terminaling and 128,000 barrels of water per day for water gathering.

As guided, throughputs remained relatively stable compared to the second quarter, primarily due to planned maintenance activity at the Little Missouri four gas plant, which was successfully completed in the third quarter. Aside from the planned maintenance, our system availability remained high and gas capture continued to be strong in the quarter.