16 AUGUST 2023 WorldWide Drilling Resource® Geothermal Partnering with Gas and Oil Adapted from Information by Fervo Energy and Devon Energy Corporation Geothermal technology leader Fervo Energy announced a $10 million strategic investment from Devon Energy Corporation. The investment initiates a partnership between two technical leaders and applies Devon’s 50-plus years of innovation in gas and oil to Fervo’s advanced geothermal capabilities, underscoring Devon’s confidence in the growth of the geothermal industry and Fervo’s winning approach. Fervo was successful in drilling and completing a horizontal well pair for commercial geothermal production - leveraging technologies, skills, and processes pioneered by Devon for gas and oil production. “We are thrilled to have Devon as a partner,” said Tim Latimer, cofounder and CEO of Fervo. “Devon is a technology leader with historic and unparalleled expertise in drilling and completing wells. We expect this partnership will help unlock further potential for geothermal as the primary 24/7 renewable energy source.” Fervo applies horizontal drilling, multistage well completion, and distributed fiber-optic sensing to geothermal reservoir development, delivering higher reliability on projects. By installing fiber-optic cables downhole in geothermal wells, they can gather and analyze real-time data on flow, temperature, and performance of the resource, for unique insights into subsurface behavior at a resolution never before possible. Advanced data analytics algorithms enable them to identify precisely where the best resources exist and optimize flow distribution through the reservor to maximize heat mining efficiency. The approach makes geothermal power accessible in far more places and dramatically increases its potential as a widespread energy source. “We are excited about this partnership with Fervo, an innovator and leader in the enhanced geothermal space,” said David Harris, chief corporate development officer and executive vice president at Devon. “This investment is a good match for Devon’s new energy ventures strategy.” GEO Great Team from Central Mine Equipment Company. Tyson was at SEDC for Wyo-Ben. Michael & Joe for Acker Drill Company. This is just a sneak peek ~ visit www.worldwidedrillingresource.com/gallery.html for more photos online! SEDC 2023 The World Museum of Mining’s tour guide Rick stopped to see Troy & Marie at the WWDR booth.
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