Hess to Sell Beryl Assets to Royal Dutch Shell

25.10.2012  |  Business Wire

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.

Cautionary Statements

This news release contains projections and other forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934.These
projections and statements reflect the company′s current views with
respect to future events and financial performance.No assurances
can be given, however, that these events will occur or that these
projections will be achieved, and actual results could differ materially
from those projected as a result of certain risk factors.A
discussion of these risk factors is included in the company′s periodic
reports filed with the Securities and Exchange Commission.