Hess

Hess has agreed to sell a 50% stake in its Bakken shale processing and pipeline assets to private equity firm Global Infrastructure Partners for USD 2.67 billion in cash. The two companies will form a midstream joint venture called Hess Infrastructure Partners, which will include a natural gas processing plant, storage facilities, truck and rail loading terminals, and crude oil pipelines. The transaction is expected to close in the third quarter of the year.