Strategy
Chevron Will Take a $3 Billion-to-$4 Billion Loss to Exit Its Bakken and DJ Basin Midstream Stakes
The company is selling its Hess Midstream and DJ Basin crude midstream interests for $200 million in cash, deconsolidating about $3.7 billion of debt and resetting what it pays to move its own barrels.
By Anna Ferreira
Oct 6, 2026 · 2 min read
Chevron said on Tuesday it has agreed to divest its ownership interests in Hess Midstream and its DJ Basin crude midstream assets, including the transfer of its general partner position, for $200 million in cash. The company expects to recognize a one-time after-tax loss of $3 billion to $4 billion, treated as a special item at closing, which it expects by the end of 2026 subject to regulatory approvals.
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Anna Ferreira
Senior Correspondent, Corporate Strategy
Anna Ferreira writes for Corporate Insider Inc.