Exxon, Shell advance in Newfield’s Asia auction: sources

Dateline Chicago Tribune 2013-08-15:

Energy majors Exxon Mobil Corp and Royal Dutch Shell are among the suitors advancing to the next round of bidding for Newfield Exploration Co’s Malaysian and Chinese oil and gas fields valued at about $1.2 billion, people familiar with the matter said.

Newfield and Hess Corp are among a number of U.S. energy companies unloading ageing and less productive oil and gas fields to invest in more strategic and profitable projects, particularly in and close to their home markets. The moves are driven in part by activist shareholders.


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