Geothermal energy
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.
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Calgary-based Eavor Technologies has raised $40 million to build out geothermal systems that use horizontal-drilling technology and may someday give abandoned oil and gas fields a second act.
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Utah FORGE has completed the first highly deviated, deep geothermal well to target depth and at planned trajectory, 60 days ahead of schedule.
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A $3-million investment by a climate fund founded by TED curator Chris Anderson and an additional $2-million investment by a subsidiary of Helmerich & Payne will fund a hybrid CLG/EGS demonstration well in Texas. Drilling could begin this summer.
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The closing date for the ESP tender for the UK’s first geothermal power plant is in early February.
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The cutting-edge technological developments in geothermal are devoted to drilling into deeper, hotter, and harder rock. Oil and gas expertise and know-how holds the key to cost reduction.
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A Canadian company reports that it has drilled and completed a historic horizontal well in Saskatchewan.
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Extending and transferring the high-temperature capabilities of existing E&P technologies could make geothermal energy development possible—and scalable—anywhere in the world.
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The new geothermal project development company will offer expertise in subsurface and drilling, project development, and risk mitigation.
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Researchers at OU have received $2.5 million of US Department of Energy funding for a three-phase study to develop technologies to increase power production from geothermal wells. The geothermal development research site in Southern California sits on the US Navy’s largest single landholding.
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Nearly 90% of geothermal capacity built since 2000 is binary cycle.