Before GeoGen, the geothermal potential from a typical oil and gas well was not worth the costs to convert it. This is why geothermal conversions of oil and gas wells has never become common practice, the economics were prohibitive, not the physics. GeoGen started where others stopped, developing a new thermodynamic process to underpin a well design that will lower the cost to convert a well to geothermal that is more in line with the output potential of a typical oil and gas well. Horizontal wells offer the best geothermal potential, but any well could become a geothermal well with GeoGen.
The GeoGen solution was developed for the types of wells being drilled today. The result is that we can invest in energy security today by drilling new oil and gas wells and also the energy transition as all those oil and gas wells will run out, but once converted to geothermal, has the potential to supply clean reliable power for generations to come.
The rise of GeoGen conversions is about more than the technology. In addition, the following make now the best time in history to finally break the paradigm and normalize geothermal conversions for end of life oil and gas wells.
Significant Macro Factors:
Net zero goals
Lots of inactive horizontal wells
Favorable regulations and policy for renewable and decentralized generation
Higher electricity prices
While oil and gas wells were not drilled to be geothermal wells, they can be repurposed to harvest heat. Geogen is making it easy by providing a turn-key service to convert inactive wells to geothermal. GeoGen is empowering energy companies participating in the energy transition by upcycling environmental liabilities to green assets producing renewable, dispatchable, baseload electricity.