The promise of geothermal as an avenue for transition:

Interest in geothermal energy as a strategic diversification that leverages the core competencies of the oil and gas industry has increased significantly over the past year.

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There are short, mid and long term plays for oil and gas – all scalable. Public and private investment will be required to enable the mid and long term plays. Governments around the world are considering moves currently as part of COVID related stimulus for the oil and gas industry to spur a “boom” in geothermal development.

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If you are a member in transition and interested in this space, there are a variety of resources that you can study to learn more about geothermal drilling, where the industry has been, and where it is going.

pangea.stanford.edu/ERE/db/IGAstandard/search.php (library of geothermal publications)

geothermal-library.org/ (library of geothermal publications)

energy.gov/eere/geothermal/geovision (DOE report)

heatbeat.energy (blog featuring O&G voices on the future of geothermal and the industry)

thinkgeoenergy.com (news site featuring geothermal industry)

geothermal.org (Geothermal Resources Council – B2B industry group with geothermal educational resources)

Utah Forge

A Virtual Poster Looking at Geothermal in US

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If you are interested in startups that are currently working on the cutting edge of geothermal, there are several to investigate.

Fervo Energy

Eavor

Green Fire Energy

Hyper Sciences

GA Drilling

Foro Energy

Eden Geotech

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If you have drilling expertise and a competitive spirit, there is a newly launched DOE geothermal prize competition. There are $4.65M in cash prizes for winners, and this is an excellent opportunity for oil and gas professionals to practice their craft, leverage their knowledge, learn about geothermal energy, and compete for (large) cash prizes. First deadline for entry is this August 24th, 2020.

americanmadechallenges.org/geothermalmanufacturing/index.html

americanmadechallenges.org/geothermalmanufacturing/Geothermal_Manufacturing_Prize_Official_Rules.pdf

energy.gov/eere/articles/energy-department-opens-geothermal-manufacturing-prize

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Create opportunity for yourself: this is an area of significant growth and interest in investment circles – for entrepreneurs – consider launching a geothermal startup.

texasgeo.org

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Provided courtesy of Jamie Beard: Jamie serves as Executive Director of the University of Texas at Austin’s DOE funded Geothermal Entrepreneurship Organization (GEO), an organization that she founded in 2019. An energy and regulatory attorney by training, Jamie became engaged in geothermal energy nearly two decades ago in her undergraduate education. She worked closely with the oil and gas industry during her time on the executive team of an MIT startup developing a directional drilling technology, and believes that the oil and gas industry, through its workforce, scale and technological capabilities, holds the key to enabling the future of geothermal energy.

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Please contact Jamie if you would like additional information on the geothermal sector.