DEEP Earth Energy Partners with Global Energy Leader SLB to Drive Next-Generation Geothermal Development in Canada
DEEP Earth Energy Production Corp. has announced a strategic partnership with SLB (NYSE: SLB) to develop Canada's first next-generation geothermal project in southeast Saskatchewan. The project, having completed its feasibility phase, aims to produce up to 30 MW of emissions-free, baseload power through its initial two phases.
The collaboration involves SLB providing engineering design and integrated well construction services, including the development of two production and two injection wells in phase one and up to 18 wells in phase two. The project will utilize advanced horizontal drilling techniques and production enhancement technologies from the oil & gas industry to optimize geothermal energy generation.
The innovative approach leverages natural rock formation permeability to enable cost-efficient and sustainable geothermal energy production, addressing traditional economic and technical challenges in Canada's untapped geothermal potential.
DEEP Earth Energy Production Corp. ha annunciato una partnership strategica con SLB (NYSE: SLB) per sviluppare il primo progetto geotermico di nuova generazione in Canada, situato nel sud-est del Saskatchewan. Dopo aver completato la fase di fattibilità, il progetto mira a produrre fino a 30 MW di energia a basse emissioni e costante attraverso le sue prime due fasi.
La collaborazione prevede che SLB fornisca servizi di progettazione ingegneristica e costruzione integrata dei pozzi, inclusa la realizzazione di due pozzi di produzione e due pozzi di iniezione nella fase uno e fino a 18 pozzi nella fase due. Il progetto utilizzerà tecniche avanzate di perforazione orizzontale e tecnologie di miglioramento della produzione provenienti dall'industria petrolifera e del gas per ottimizzare la generazione di energia geotermica.
Questo approccio innovativo sfrutta la permeabilità delle formazioni rocciose naturali per consentire una produzione di energia geotermica sostenibile e a costi contenuti, affrontando le sfide economiche e tecniche tradizionali del potenziale geotermico non sfruttato del Canada.
DEEP Earth Energy Production Corp. ha anunciado una asociación estratégica con SLB (NYSE: SLB) para desarrollar el primer proyecto geotérmico de próxima generación en Canadá, ubicado en el sureste de Saskatchewan. Luego de completar la fase de viabilidad, el proyecto aspira a producir hasta 30 MW de energía libre de emisiones y de base durante sus dos primeras fases.
La colaboración implica que SLB proporcione servicios de diseño de ingeniería y construcción integrada de pozos, incluyendo el desarrollo de dos pozos de producción y dos pozos de inyección en la fase uno y hasta 18 pozos en la fase dos. El proyecto utilizará técnicas avanzadas de perforación horizontal y tecnologías de mejora de producción del sector de petróleo y gas para optimizar la generación de energía geotérmica.
El enfoque innovador aprovecha la permeabilidad de las formaciones rocosas naturales para permitir una producción de energía geotérmica sostenible y rentable, abordando los desafíos económicos y técnicos tradicionales del potencial geotérmico no explotado de Canadá.
DEEP Earth Energy Production Corp.는 SLB (NYSE: SLB)와 전략적 파트너십을 체결하여 캐나다의 첫 번째 차세대 지열 프로젝트를 사스카추완 주 남동부에서 개발한다고 발표했습니다. 이 프로젝트는 타당성 조사 단계를 완료하고 30 MW의 배출 없는 기저 부하 전력을 초기 두 단계에서 생산하는 것을 목표로 하고 있습니다.
협력에는 SLB가 엔지니어링 설계와 통합 우물 건설 서비스를 제공하는 것이 포함되며, 여기에는 1단계에서 두 개의 생산 우물과 두 개의 주입 우물 개발과 2단계에서 최대 18개의 우물까지 포함됩니다. 이 프로젝트는 지열 에너지 생성을 최적화하기 위해 석유 및 가스 산업의 고급 수평 시추 기술과 생산 향상 기술을 활용할 것입니다.
이 혁신적인 접근 방식은 자연 암석 형성의 투과성을 활용하여 비용 효율적이고 지속 가능한 지열 에너지 생산을 가능하게 하며, 캐나다의 미개발 지열 잠재력에서 전통적인 경제적 및 기술적 도전 과제를 해결합니다.
DEEP Earth Energy Production Corp. a annoncé un partenariat stratégique avec SLB (NYSE: SLB) pour développer le premier projet géothermique de nouvelle génération au Canada, situé dans le sud-est de la Saskatchewan. Après avoir terminé sa phase de faisabilité, le projet vise à produire jusqu'à 30 MW d'énergie sans émissions et de base grâce à ses deux premières phases.
La collaboration implique que SLB fournisse des services de conception d'ingénierie et de construction intégrée de puits, y compris le développement de deux puits de production et deux puits d'injection dans la première phase et jusqu'à 18 puits dans la deuxième phase. Le projet utilisera des techniques avancées de forage horizontal et des technologies d'amélioration de la production issues de l'industrie pétrolière et gazière pour optimiser la production d'énergie géothermique.
Cette approche innovante exploite la perméabilité des formations rocheuses naturelles pour permettre une production d'énergie géothermique durable et rentable, tout en relevant les défis économiques et techniques traditionnels du potentiel géothermique inexploité du Canada.
DEEP Earth Energy Production Corp. hat eine strategische Partnerschaft mit SLB (NYSE: SLB) angekündigt, um das erste geothermische Projekt der nächsten Generation in Kanada im Südosten von Saskatchewan zu entwickeln. Nach Abschluss der Machbarkeitsphase zielt das Projekt darauf ab, bis zu 30 MW emissionsfreien Grundlaststrom durch die ersten beiden Phasen zu produzieren.
Die Zusammenarbeit umfasst, dass SLB Ingenieurdienstleistungen und integrierte Brunnenbauleistungen bereitstellt, einschließlich der Entwicklung von zwei Produktions- und zwei Injektionsbrunnen in Phase Eins und bis zu 18 Brunnen in Phase Zwei. Das Projekt wird fortschrittliche horizontale Bohrtechniken und Produktionserweiterungstechnologien aus der Öl- und Gasindustrie nutzen, um die geothermische Energieerzeugung zu optimieren.
Der innovative Ansatz nutzt die Durchlässigkeit natürlicher Gesteinsformationen, um eine kosteneffiziente und nachhaltige geothermische Energieproduktion zu ermöglichen, und adressiert damit die traditionellen wirtschaftlichen und technischen Herausforderungen des ungenutzten geothermischen Potenzials Kanadas.
- Strategic partnership with global energy technology leader SLB
- Project completed feasibility phase
- Potential to generate 30 MW of emissions-free baseload power
- Innovative use of proven oil & gas industry techniques for cost-efficient production
- First-of-its-kind geothermal development approach in Canada
- None.
Insights
This strategic collaboration marks a significant advancement in SLB's renewable energy portfolio, particularly noteworthy as it combines the company's core drilling and well construction expertise with emerging geothermal opportunities. The project's innovative approach of applying horizontal drilling techniques from oil & gas to geothermal development creates a compelling competitive advantage for SLB in the rapidly growing geothermal market.
The partnership's technical approach is particularly valuable as it addresses two critical challenges in geothermal development: cost efficiency and technical feasibility. By leveraging natural permeability in sedimentary formations and applying advanced horizontal drilling techniques, the project potentially reduces capital intensity compared to traditional geothermal projects, which often require extensive reservoir stimulation.
For SLB, this project represents more than just a single contract - it establishes a replicable model for geothermal development that could be deployed across similar geological formations globally. The Canadian market alone presents substantial growth potential, with vast untapped geothermal resources. Success in this project could position SLB as a leading technology provider in the geothermal sector, opening up a new revenue stream that aligns perfectly with the global energy transition.
The collaboration with both DEEP and Ormat creates a comprehensive development model that could accelerate geothermal adoption. SLB's commitment to multiple project phases (up to 18 wells in phase two) indicates confidence in the project's commercial viability and suggests a long-term strategic focus on geothermal energy as a growth sector.
Despite
"We are thrilled to welcome SLB as a key partner in this transformative project, which also includes Ormat as part of an integrated geothermal asset development model," said Kirsten Marcia, president and chief executive officer for DEEP. "By joining forces, we are developing our asset in a streamlined fashion, combining the best of subsurface and surface technologies, while maximizing efficiencies, operations, and ultimately, power output. With this approach, we hope to establish a blueprint for the development of additional commercial geothermal projects in
As a part of the collaboration between DEEP and SLB on this project, SLB will provide engineering design and integrated well construction services for phases one and two of the project, including the development of two production and two injection wells in phase one and up to 18 wells in phase two. The innovative approach will leverage the natural permeability of the sedimentary rock formation and enable the reliable, cost-efficient, and more sustainable production of geothermal energy.
"This collaboration with DEEP reflects our commitment to broadening the adoption of geothermal by reducing project risk and accelerating the time to first power," said Irlan Amir, vice president of Renewables and Energy Efficiency, SLB. "The project's innovative engineering design and integrated asset development model brings together developers, technology providers and infrastructure partners to open new frontiers for geothermal power generation in
By creatively addressing the perceived barriers to geothermal development in
About DEEP Earth Energy Production:
DEEP is developing geothermal resources to meet increasing energy needs with sustainable, clean and renewable energy. The company is advancing its first planned ~30 MW geothermal power facility in southeastern
For more information on DEEP, please visit DEEP's website at www.deepcorp.ca or contact: President & CEO, Kirsten Marcia, info@deepcorp.ca
Media, Morten Paulsen: (403) 399-3377, mpaulsen@osborneinterim.com
Future Oriented Financial Information Disclaimer:
Some of the statements in this news release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. DEEP, including its directors or officers, do not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will DEEP or its directors or officers be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this update or for any related damages. You should consult your professional advisors before deciding to make an investment decision in DEEP.
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SOURCE DEEP Earth Energy Production Corp
FAQ
What is the expected power generation capacity of DEEP's geothermal project with SLB?
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