SK Pivot

Pivot 2021 Takeaways

Steve Krase, CEO and John Clegg, CTO discuss their takeaways from the online Pivot 2021 event.

One Response

  1. Hello Hephae team,

    Great talk, congrats.
    My background is directional drilling and well engineering and contruction (40 years – 10 with SLB D&M, 20 with TOTAL, 10 with DrillScan as associate and CTO/CEO, DrilScan is now 100% H&P Inc since 2019)
    I’m consulting with my new company RG2S – Consulting for Geothermal promotion.
    I’m currently projecting how to replace russian gas imports in France and how geothermal AGS wells could help.
    Very preliminary finding at France scale are:
    – 350 geothermal plants fed by 12 U shape wells (sedimentary rock – 150°C – 3500-4000m TVD – 14km total drilled per loop) for cities ranging 25000 – 100000+ people (more than 350 French cities in that range)
    – 20 rigs (45-60 days AFE per loop)
    – Cost per drilled cluster 165M€ (estimated after 2 years learning curve benefits – cost per drilled meter in Europe is much higher than in USA, but will improve considerably)
    – 15 plants delivered per year from 2025 to 2050 (very likely faster, thanks to factory drilling approach)
    – Each plant producing 240MWh/year
    – Geothermal production capability (thermal / electricity) in 2050 : 84 TWh/year (that is France gaz imports from Russia per year and it cost anything between 2 and 8 G€/year, averaging 130G€ over 25 years)
    – Overall CAPEX by 2050 of 58G€ and very low OPEX
    – AGS well life cycle of 50 years
    – Cost per kWh over 30 years depreciation is 0.03€ / 50 years 0.01€)
    Don’t hesitate to comment
    Régis

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