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Shell, Exxon sell stakes in North Sea field

Jan. 29, 2015 10:48 AM ETShell plc (SHEL) StockXOM, SHELBy: Carl Surran, SA News Editor
  • Royal Dutch Shell (RDS.A, RDS.B) and Exxon Mobil (NYSE:XOM) sell their respective 25% stakes in the Sean field in the North Sea to Oranje-Nassau Energie for an undisclosed sum, as the collapse in oil prices since June has added to pressure on drillers to sell aging North Sea wells.
  • Shell says it may close its Draugen oil field in the Norwegian Sea much earlier than it had expected because of rising costs and falling oil prices, and two other fields in the area are still up for sale.

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