Subsequent Events	9 Months Ended
Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	15. Subsequent Events On October 4, 2019, HESM announced that it will acquire HIP, including HIP’s 80% interest in HESM’s oil and gas midstream assets, HIP’s water services business and the outstanding economic general partner interest and incentive distribution rights in HESM. In addition, HESM’s organizational structure will convert from a master limited partnership into an “Up-C” structure in which HESM’s public unitholders will receive newly issued securities in a new public entity to be named “Hess Midstream LP” (Hess Midstream), which will be taxed as a corporation for U.S. Federal and State income tax purposes. As part of the proposed transaction between HESM and HIP, Hess Corporation announced it would receive approximately $275 million in cash and approximately 115 million newly issued units in HESM. Upon completion of the transaction, Hess Corporation will own approximately 134 million HESM units, or 47% of Hess Midstream on a consolidated basis. The transaction, which is non-taxable to Hess Corporation, is expected to close in the fourth quarter of 2019, subject to customary closing conditions and regulatory approvals. In November 2019, we entered into WTI crude oil price collars with an average monthly floor price of $50 per barrel and an average monthly ceiling price of $70 per barrel with a notional amount of 80,000 bopd for the full year 2020 at a cost of $78 million.

Subsequent Events

9 Months Ended

Sep. 30, 2019

15. Subsequent Events

On October 4, 2019, HESM announced that it will acquire HIP, including HIP’s 80% interest in HESM’s oil and gas midstream assets, HIP’s water services business and the outstanding economic general partner interest and incentive distribution rights in HESM. In addition, HESM’s organizational structure will convert from a master limited partnership into an “Up-C” structure in which HESM’s public unitholders will receive newly issued securities in a new public entity to be named “Hess Midstream LP” (Hess Midstream), which will be taxed as a corporation for U.S. Federal and State income tax purposes. As part of the proposed transaction between HESM and HIP, Hess Corporation announced it would receive approximately $275 million in cash and approximately 115 million newly issued units in HESM. Upon completion of the transaction, Hess Corporation will own approximately 134 million HESM units, or 47% of Hess Midstream on a consolidated basis. The transaction, which is non-taxable to Hess Corporation, is expected to close in the fourth quarter of 2019, subject to customary closing conditions and regulatory approvals.

In November 2019, we entered into WTI crude oil price collars with an average monthly floor price of $50 per barrel and an average monthly ceiling price of $70 per barrel with a notional amount of 80,000 bopd for the full year 2020 at a cost of $78 million.