Shell Pays $525M For Hess' Stake In 12 North Sea Fields

Law360, New York (October 25, 2012, 3:22 PM EDT) -- Royal Dutch Shell PLC has picked up more North Sea assets from partner Hess Corp., the companies announced Thursday, inking a $525 million deal for Hess' stakes in 12 producing fields and an underwater natural gas pipeline.

Known as the Beryl-area fields, the plays — located in British waters northeast of Aberdeen and operated by Apache Corp. — produced about 14,000 barrels of oil equivalent per day for Hess this year through September, according to parallel statements from the parties.

The Beryl sale follows a deal...
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