Hess divests interests in the Beryl area fields to Shell for US$524 million
Hess has announced the divestment of its interests in the Apache-operated Beryl area fields for a consideration of US$525 million. Of the 11 fields involved in the deal, the largest by value are the Beryl and Nevis South fields. Shell will increase its existing interests in the Beryl area fields by between 9.1% and 65.5%.Under our base case assumptions, we value the acquired interests at US$548 million (NPV 10, discounted to 1 January 2012), which is in line with the consideration paid. ...