Fervo Energy Drilling Results Show Rapid Advancement of Geothermal Performance - Fervo Energy
PALO ALTO, CA (February 12, 2024) – Today at the Stanford Geothermal Workshop, Fervo Energy (“Fervo”) published early drilling results from its Cape Station project that exceed the Department of Energy’s (DOE) expectations for enhanced geothermal systems (EGS). These results substantiate the rapid learning underway in the geothermal industry and signal readiness for continued commercialization.
Fervo began its drilling campaign at Cape Station, its 400 MW project in southwest Utah, in June 2023 and over the last six months has successfully drilled one vertical and six horizontal wells there, rapidly reducing drilling times from well to well as learnings have accelerated. These advancements build on Fervo’s pioneering Project Red, commissioned in 2023, where Fervo drilled one vertical and two horizontal wells.
Fervo has consistently reduced drilling times and costs in horizontal, high-temperature, deep granite drilling. Though Cape wells are hotter and over 2,100 feet deeper than Project Red wells, Fervo drilled its fastest Cape well in just 21 days, a 70% reduction in drilling time from Fervo’s first horizontal well drilled at Project Red in 2022. This increase in drilling efficiency has translated into significant cost reductions, with drilling costs across the first four horizontal wells at Cape falling from $9.4 million to $4.8 million per well.
