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DEEP Earth Energy Production Announces Collaboration With SLB For Canada's First 30 MW Geothermal Project In Saskatchewan Using Advanced Drilling Techniques

Benzinga ·  Jan 29 14:19

DEEP Earth Energy Production Corp. (DEEP) announces a strategic collaboration with global energy technology company SLB (NYSE:SLB) to drive the development of Canada's first next-generation geothermal project, located in southeast Saskatchewan. With the feasibility phase now complete, the project is poised to produce up to approximately 30 MW of emissions-free, baseload power on completion of its initial two phases — marking a major milestone for geothermal energy in Canada.

Despite Canada's vast geothermal potential, the resource has remained largely untapped due to economic and technical challenges tied to conventional extraction methods. DEEP's geothermal project will leverage proven approaches from conventional field development in oil & gas, to deploy advanced horizontal drilling techniques to access some of the most productive zones in the formation, as well as production enhancement technologies to optimize output of geothermal energy generation. This cutting-edge methodology, supported by SLB's global expertise in geothermal technology, integrated well construction, and extensive regional drilling experience, represents a first-of-its-kind application for geothermal development in Canada.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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