Hess Corp. announced that its subsidiary Hess Midstream Partners LP filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) related to its proposed IPO of common units representing limited partner interests. The offering is expected to commence in first-quarter 2015.

The partnership plans to list its common units on the New York Stock Exchange under the ticker symbol “HESM.” The number of common units in the offering and the price have not been determined.

Houston-based Hess Midstream Partners will receive its initial assets from Hess. Expected contributions include:

  • A 30% interest in Hess’ Tioga, N.D., gas processing plant;
  • A 50% interest in Hess’ Tioga rail loading terminal and associated rail cars;
  • A 50% interest in Hess’ crude oil truck and pipeline terminal located Williams County, N.D.; and
  • A 100% interest in Hess’ propane storage cavern and rail and truck transloading facility in Mentor, Minn.

Goldman, Sachs & Co. and Morgan Stanley will act as joint book-running managers for the proposed offering.