Happy Monday and welcome back to another week of ESC’s News Blog!
Did anyone
happen to read Tank Storage News America’s Newsletter on March 1, 2024, their
article titled, “Fervo Energy drilling results show rapid advancement of
geothermal performance”? In the article,
it speaks about Fervo Energy shared good
news at the Stanford Geothermal Workshop earlier in February 2024. The news they shared was their drilling time
and costs have reduced at their Cape Station project in Utah which began in
June 2023. Fervo Energy’s Cape Station
project has drilled one vertical and 6 horizontal wells and with each
successfully completed well their drill time and their cost has fallen despite the
tough terrain, and their quickest well drilled has been 21 days and costing about
$4.8 million which is half the cost of the previous wells. Horizontal drilling in high temperature and
deep granite drilling has shown the steadiest decline in costs and time. Fervo Energy has taken their successes
to the modernization of drilling equipment including polycrystalline diamond
compact (PDC) drill bits and mud coolers as well as other advancements from modern
oil and gas drilling and their ability to learn from them. Fervo Energy’s improved efficiency and reduction
of costs makes the budding geothermal industry show the bright future which is
expected of it from the Department of Energy. If you would like to read more of Tank
Storage News America’s Newsletter’s article, please click the link: Fervo Energy drilling results show rapid advancement of geothermal performance - TankStorage News America.
If you would
like help in looking into how to transport your product efficiently, safely, and
with less of a carbon footprint or just find out what is underneath your feet
to help with reduce your electricity costs, contact us via email in the blog
and check out our ESC's website!
Don’t forget the Houston Livestock and Rodeo is
happening at the NRG Park and its worth a visit! Check out HLSR and its daily activities by clicking the link: The Official Houston Livestock Show and Rodeo Website (rodeohouston.com).
We hope you have a wonderful evening and a great rest of
your week!
**Disclaimer: You may be charged a fee to read Tank Storage News America's article. **