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Morgan Stanley Now More Bearish
For some time now Morgan Stanley has not had any illusions about oil prices for the rest of 2015. However, they had faith that there would be a recovery thereafter. Now “World Oil” reports that the investment firm has downgraded their projections for the future. Previous forecasts were based on four factors: demand would rise… Read More
False Hope
“World Oil” reports that as of last Friday, the number of rigs looking for oil increased by 21 to 650 according to the Baker-Hughes count. This was the largest increase in oil rigs in 15 months. Recently, the count has been on the rise in three of the last four weeks, but is still well… Read More
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
