Hess to Sell Beryl Assets to Royal Dutch Shell

  Hess to Sell Beryl Assets to Royal Dutch Shell

Business Wire

NEW YORK -- October 25, 2012

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.

Contact:

Hess Corporation
Investor:
Jay Wilson, 212-536-8940
or
Media:
Jon Pepper, 212-536-8550