The Rising Influence of Rising Affluence

[DewDiligence]

HES is getting clocked today, but I don’t think it’s related to the transaction below, which seems rather neutral:

http://www.bloomberg.com/news/2012-05-30/shell-will-buy-hess-stake-in-field-off-scottish-coast.html

Royal Dutch Shell Plc will buy Hess Corp.’s 15.67 percent stake in the Schiehallion oil field and associated equipment, making it the largest holder of the project off the Scottish coast.

The deal is expected to close this year after it gets regulatory approval, New York-based Hess said in a statement today. Terms of the sale, which includes a stake in a floating production, storage and offloading vessel and the West of Shetland pipeline system, weren’t disclosed.

Comments?