Reuters: Mergers News: Hess to sell stake in Scottish oilfield to Shell

Reuters: Mergers News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Hess to sell stake in Scottish oilfield to Shell May 30th 2012, 13:21 Wed May 30, 2012 9:21am EDT May 30 (Reuters) - Oil producer and refiner Hess Corp said it is selling its stake in an oilfield off the Scottish coast to Royal Dutch Shell Plc. Financial terms were not disclosed. Hess will sell its 15.67 percent stake in the Schiehallion field, as well its stake in a related pipeline system. The Schiehallion field, operated by BP Plc, is located north of Scotland in the Atlantic Ocean. The companies gained approval from the British government to begin drilling there in 1996.

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