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<\/p>\nHess Midstream Partners\u2019 financial guidance incorporates the outcomes of the year-end tariff rate recalculation and nomination process conducted with Hess Corporation under Hess Midstream\u2019s commercial agreements with Hess.<\/p>\n
Hess Midstream expects full year 2021 net income of between $590 million and $620 million and adjusted EBITDA of between $860 million and $890 million.<\/p>\n
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Hess Midstream expects full year 2021 distributable cash flow to range between $750 million and $780 million, resulting in a distribution coverage ratio of at least 1.4x.<\/p>\n
In 2021, Hess Midstream expects to generate adjusted free cash flow of between $610 million and $640 million and approximately $100 million, after funding distributions that are targeted to grow at least 5 percent per annum on a distribution per share basis. In addition, Hess Midstream expects leverage to be approximately 2x adjusted EBITDA on a full year basis, providing capital allocation flexibility.<\/p>\n
Full year 2021 financial guidance includes approximately 95 percent minimum volume commitment revenue, as Hess Midstream\u2019s physical volumes are generally expected to be at or below minimum volume commitment levels.<\/p>\n
Crude oil gathering volumes are anticipated to average 110 to 120 MBbl\/d in 2021, and crude oil terminaling volumes are expected to average 120 to 130 MBbl\/d, supported by Hess\u2019 announced plan to add an additional rig in the Bakken by the end of the first quarter.<\/p>\n