Geothermal energy
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.
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The latest signs that momentum is building in the geothermal space include military bases. -
Texas has become an early hot spot for geothermal energy exploration as scores of former oil industry workers and executives are taking their knowledge to a new energy source.
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The challenges that geothermal energy faces to become a leading player in the net-zero world are well within the areas of expertise of the SPE community, ranging from rapid technology implementation and learning-by-doing to assure competitiveness to establishing suitable funding mechanisms to secure access to capital.
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The developer of the recently emerged anchorbit technology is preparing to drill its first geothermal well next year in Germany.
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Ignis H2 Energy and Imeco Inter Sarana announced a strategic partnership to expedite geothermal development in Indonesia.
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One area where the untapped potential of geothermal energy has been realized is in harnessing thermal energy from abandoned or inactive oil and gas wells. Such wells could be exploited for electricity generation or direct use through well repurposing.
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SponsoredWith almost three-quarters of the global greenhouse gas emissions coming from the energy sector, there is a heavy burden and a huge responsibility on the shoulders of all countries of the world to transform the energy sector to be cleaner and greener by eliminating these emissions.
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Sage Geosystems said it will use the new equity funding to build a geopressured geothermal system by year's end.
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Backed by more than $28 million in fresh investments, XGS Energy is prepping to introduce a new technology called thermal reach enhancement.
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Former CTO of ConocoPhillips, Greg Leveille, makes the case for why more oil and gas professionals should take notice of the new-age geothermal space.
