Hess to Sell Beryl Assets to Royal Dutch Shell

Hess to Sell Beryl Assets to Royal Dutch Shell

Hess Corporation (NYSE: HES) announced today it has agreed to terms for the sale of its interest in the Beryl area fields and the Scottish Area Gas Evacuation System (SAGE) to Royal Dutch Shell for $525 million.
The Beryl fields, located northeast of Aberdeen in the United Kingdom North Sea and operated by Apache, produced approximately 14,000 barrels of oil equivalent per day net to Hess through the first nine months of 2012. Subject to regulatory approval, the sale is expected to close in the first quarter of 2013.
“This sale is part of our strategic portfolio reshaping,” said Greg Hill, President, Worldwide Exploration & Production. “Including this transaction, we have announced asset sales year-to-date of approximately $2.4 billion.”
Hess Corporation is a leading global independent energy company engaged in the exploration for and production of crude oil and natural gas, as well as in refining and in marketing refined petroleum products, natural gas and electricity. More information on Hess Corporation is available at http://www.hess.com.
ISSUERS OF NEWS RELEASES AND NOT OILANDGASPRESS.COM ARE SOLELY RESPONSIBLE FOR THE ACCURACY OF THE CONTENT.
Public relations, press release distribution service, investor relations, SEC filing, regulatory news,upstream, downstream,corporate announcements,technology developments and political news
www.oilandgaspress.com – The ‘one stop shop’ for global Oil and gas press releases!!!
>Oil and Gas Press

#FOLLOW US ON INSTAGRAM