Shell to buy Beryl assets, SAGE stake from Hess

Royal Dutch Shell PLC agreed to buy from Hess Corp. its holdings in Beryl field and related properties northeast of Aberdeen in the UK North Sea as well as its stake in the Scottish Area Gas Evacuation System (SAGE) for a total of $525 million.

Apache Corp. operates those Beryl assets, which produce 14,000 boe/d net to Hess through Sept. 30.

Subject to regulatory approval, the sale is expected to close in first-quarter 2013.

Greg Hill, president of Hess Worldwide Exploration & Production, said Hess has announced the sale or the pending sale of $2.4 billion total this year, including the Beryl assets.

Apache operates the Beryl, Nevis, Ness, Nevis South, Skene, and Buckland fields, the Beryl/Brae gas pipeline, and the SAGE gas plant.

Related Articles

DOE approves LNG exports to non-FTA countries from Oregon project

03/24/2014 The US Department of Energy conditionally approved Jordan Cove Energy Project LP’s application to export LNG through its proposed terminal on Orego...

MARKET WATCH: Front-month crude oil contract closes up, gas down on week

03/24/2014

The front-month crude oil contract ended the week higher Mar. 21 while natural gas futures prices edged slightly lower.

HSC remains closed, fuel cleanup continues after barge collision

03/24/2014 The Houston Ship Channel (HSC) remained closed to unauthorized vessels Mar. 24 as the result of a temporary emergency safety zone being established...

Judge bars Anadarko e-mails as evidence in Macondo blowout hearing

03/21/2014 A federal district judge in New Orleans refused to accept e-mails between Anadarko Petroleum Corp. and BP PLC as evidence in a hearing to determine...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected