Velda Addison, senior energy transition editor, Hart Energy: A brand-new technology in deep geothermal drilling is inching its way toward bringing geothermal anywhere.
Geothermal energy is limited to areas close to the surface. Going deeper and hotter means breaking through hard and abrasive rock, which can be expensive.
GA drilling said its anchor bit technology can reduce drilling costs by increasing drilling speeds and extending the lifetime of the drill bit. The company described it as a down hole walking system that eliminates stick-slip and improves downhill stability when hard rock is hit. That improves drilling efficiency and economics. Working with partner Nabors Industries, GA Drilling validated the technology and demonstrated anchor bit. The 20 ft-long tool is designed to operate at bottom hole temperatures between 200 degrees and 300 degrees Celsius and reach depths between three km to five km. GA drilling plans to make anchor bit about five feet longer and integrate it into the company's plasma bit technology. The company aims to conduct a field test in a commercial well in 2024.
Learn about the latest tech trends in renewable energy news at hartenergy.com.
Recommended Reading
BP Profit Falls On Weak Oil Prices, May Slow Share Buybacks
2024-10-30 - Despite a drop in profit due to weak oil prices, BP reported strong results from its U.S. shale segment and new momentum in the Gulf of Mexico.
SLB Earnings Rise, But Weakened 4Q and 2025 Ahead Due to Oil Glut
2024-10-22 - SLB, like Liberty Energy, revised guidance lower for the coming months, analysts said, as oilfield service companies grapple with concerns over an oversupplied global oil market.
Exxon, Chevron Beat 3Q Estimates, Output Boosts Results
2024-11-01 - Oil giants Chevron and Exxon Mobil reported mixed results for the third quarter, with both companies surpassing Wall Street expectations despite facing different challenges.
Dividends Declared the Week of Oct. 14
2024-10-21 - As third-quarter earnings are underway, here is a compilation of dividends declared from select upstream and midstream companies.
After BKV’s IPO, Is Market Open to More Public SMID Caps?
2024-10-03 - The market for new E&P and energy IPOs has been tepid since the COVID-19 pandemic. But investor appetite is growing for new small- and mid-sized energy IPOs, says Citigroup Managing Director Dylan Tornay.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.