Eavor aims at geothermal revolution
Canadian oil and gas drillers plan to use their skillsets to disrupt an entire clean energy sector
The employees of Calgary-based Eavor Technologies may admittedly have “minimal background” in geothermal energy, in the words of company CEO John Redfern. But his team of former oil and gas workers believe they are on the cusp of revolutionising geothermal through their closed-loop system. “From day one our goal has been to create a cost-effective closed-loop geothermal system,” Redfern tells Petroleum Economist. “And despite still being in the venture capital phase, we are well on the way to doing so.” Closed-loop geothermal as a concept has been around for decades, but it is only with the advent of the shale drilling revolution and precision directional drilling in the oil and gas industry
Also in this section
26 April 2024
While the US has been breaking records for its premium grade crude, there are doubts over whether you can have too much of a good thing
26 April 2024
Slowing demand growth and capacity expansions will squeeze refiners in coming years
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields