Highest bidder declared for Quicksilver assets

BlueStone Natural Resources II LLC, Tulsa, has won a Bankruptcy Court-approved auction for assets belonging to Quicksilver Resources Inc., Ft. Worth, and its US subsidiaries following a marketing process that began last September (OGJ Online, Sept. 18, 2015). Source: News

Hess reduces 2016 budget by 40% to 2.4 billion

Hess Corp. is planning a 2016 capital and exploratory budget of $2.4 billion, a 40% reduction from its 2015 actual spend of $4 billion and 20% below its preliminary 2016 guidance of $2.9-3.1 billion provided in October. Source: News

MARKET WATCH: Oil prices fall, hovering above $30/bbl

Light, sweet crude prices tumbled on the New York market Jan. 25 to settle above $30/bbl, giving up much of the gains from two previous trading sessions, and analysts blamed the price decline upon lingering concerns about an oversupplied world oil market. Source: News

DONG to divest exploration and production

DONG Energy, 58.8% owned by the Danish government, intends to divest its exploration and production business in an initial public offering (IPO) and focus investment on wind power and other renewable energy. Source: News

Shell lets contract for unit at Rotterdam refinery

Royal Dutch Shell PLC has let a contract to KBR Inc., Houston, to provide technology for a solvent deasphalting (SDA) unit at subsidiary Shell Nederland Raffinaderij BV’s 404,000-b/d Pernis refinery in Rotterdam, Netherlands. Source: News