Geothermal Atom Feed

Geothermal systems, which rely on extracting heat from deep within the Earth, face many of the same technical challenges that oil and gas operators have tackled for decades. Geothermal development can be advanced efficiently and economically by applying proven oil and gas technologies.

The companies have announced they will work together to integrate geothermal well engineering and project delivery globally.

Closed-loop geothermal systems have entered the new-energy arena to generate electricity using the underground as a heat exchanger.

The companies said they plan to work together on developing geopressured geothermal systems for low-carbon energy storage and geothermal power generation.

The agreement aims to accelerate new commercial technologies that address challenges with geothermal development.

GEODE is a consortium led by Project InnerSpace and the Society of Petroleum Engineers and funded by the US Department of Energy’s Geothermal Technologies Office.

Geothermal energy in the US has historically been concentrated in the West due to favorable geology, but emerging technologies have expanded the possibilities.

The upstream sector could help unlock geothermal energy’s potential but up to $1 trillion in project spending would be necessary over the next decade, the report says.

What we’ve learned about faster drilling in oil and gas applied just as well to geothermal development—until we reached The Geysers.