Hess Corp. announced the initial public offering (IPO) Monday for units of Hess Midstream Partners LP, a master limited partnership (MLP) focused on midstream operations in North Dakota’s Williston Basin.

Hess said it filed with the Securities and Exchange Commission to offer 12.5 million common units on the New York Stock Exchange at a price of $19-21/unit. The units, expected to trade under the ticker HESM, account for around 22.5% of the limited partner interest in the MLP. That figure climbs to 25.8% if the underwriters exercise an option to purchase additional common units, Hess said.

The remaining limited partner interest will be split between subsidiaries of Hess Corp. and Global Infrastructure Partners II and its affiliates. Hess sold a half-stake in its Bakken midstream business to Global Infrastructure Partners (GIP) — an independent infrastructure fund — in 2015 for $2.68 billion as part of a joint venture (JV) agreement.

Hess Infrastructure Partners LP, a JV 50%-owned by Hess and 50%-owned by GIP, will control the equity interests in Hess Midstream’s general partner and all of the partnership’s distribution rights.

Hess, which houses its main offices in New York, Houston and Kuala Lumpur, Malaysia, is one of the largest net acreage holders in the Bakken Shale. The exploration and production company, which operates in the U.S. onshore and offshore in the Gulf of Mexico and overseas, first talked about launching an IPO for a Bakken-focused midstream MLP in 2014 — before a collapse in oil prices cast a pall over the industry’s outlook.

More recently, Hess management has discussed plans to ramp up activity in the Bakken, announcing a 2017 capital budget that calls for four additional rigs in the play.