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Solar Generated Steam for EOR
According to a recent article in “World Oil”, Petroleum Development Oman (PDO), and Glass Point Solar plan to build one of the world’s largest solar power plants. The Miraah (meaning mirror in Arabic) project will produce 1,021 megawatts of electricity. This power will be used to generate steam for injection into the Amal field for… Read More
Utica Upgraded
The Utica shale which lies beneath parts of West Virginia, Kentucky, Pennsylvania, Ohio and New York has long been considered a major shale play. However, according to a recent article in “Rigzone”, a study conducted by West Virginia University has found that Utica’s technically recoverable reserves are much larger than expected. In fact, they rival… Read More
Sabine Bankruptcy
Last month Sabine Oil & Gas Corp. failed to make a $21 million interest payment. Now, “Rigzone” reports that the company has filed for bankruptcy. Sabine has indicated that it is in “constructive discussions” with lenders and debt holders in an attempt to restructure its balance sheet. The objective is to come up with a… Read More
Refracking Fever
The idea is almost as old as fracking itself. “World Oil” reports that since the 1950’s, operators have been identifying aging wells with diminishing output and blasting them with sand and water to enhance production. What is new is the application of this technique to shale reservoirs. Shale wells are notorious for steep decline curves… Read More
Bullish on Oil Demand
Andrew J. Hall with Astenbeck Capital Management, is widely acclaimed as an oil price guru. “World Oil” reports that he is now predicting that demand in the U. S. and Asia will go “on a tear” and drive oil prices upward later this year and into next. Apparently Hall is undeterred by the prospects of… Read More
