Given the numbers of existing wellbores in Texas and the recent slowdown in oil and gas production, one would think the opportunity was ripe for operators to try their hand at a geothermal demonstration well.
If funding has been an obstacle, they may get their chance very soon. The US Department of Energy's Well of Opportunity grant is supplying a couple of avenues for geothermal development, including repurposing wellbores for geothermal energy production.
Geothermal energy is booming in other parts of the world like Iceland and Indonesia and it has been poised to take off for some time in the U.S., but research and development in lower temperature areas like East Texas is lacking. That's where we come in. By developing testing sites and bringing together funding and diverse collaborators, Clearwater Reserves is opening the door to meaningful geothermal energy development.
Comments