Chevron plans to divest its ownership interests in Hess Midstream and its crude midstream assets in the DJ Basin, the company announced via Business Wire.

The decision puts two midstream packages on the market at once: an equity position in Hess Midstream, the listed entity that handles gas gathering, processing and export logistics for Hess Corporation's operations, and a set of crude-gathering and transport infrastructure serving the DJ Basin in Colorado and Wyoming.

What is Chevron selling?

The divestment scope covers two distinct asset classes:

• Ownership interests in Hess Midstream, acquired as part of Chevron's takeover of Hess Corporation
• Crude midstream assets in the DJ Basin, the Rockies oil play centered on the Niobrara formation

Chevron has not disclosed a valuation, buyer shortlist, or expected closing timeline in the announcement. The company also has not stated whether the two packages will be sold together or marketed separately.

Why does the Hess Midstream stake matter?

Hess Midstream operates the gathering, processing and terminal infrastructure tied to Hess's production footprint, most significantly in the Bakken play of North Dakota. Chevron inherited the midstream exposure through its acquisition of Hess, and selling the stakes would sharpen the combined company's focus on upstream and integrated downstream operations while returning midstream exposure to specialist buyers.

For midstream operators and infrastructure funds, a Chevron exit creates a rare opportunity to acquire established, fee-based gathering and processing positions without greenfield construction risk.

Why exit the DJ Basin midstream?

The DJ Basin crude midstream assets gather and move oil produced from Niobrara wells across Colorado's Denver-Julesburg basin. Chevron's decision to shed this infrastructure signals a portfolio trim rather than an exit from the basin itself — the announcement addresses midstream ownership only.

Buyers would likely include basin-focused gatherers and crude logistics operators already active in the Rockies.

What comes next?

The watch items are the deal terms: the sale price for the Hess Midstream interests, the identity of the DJ Basin buyer, and the closing schedule Chevron sets for each transaction. Financial details and counterparty names have not yet been announced.