geothermal partnership
Baker Hughes teams up with Oklahoma co. to advance geothermal development
In recent months, Houston-based energy corporation Baker Hughes has launched multiple partnerships to expand geothermal energy extraction across the United States. The latest, a deal with Oklahoma-based Helmerich & Payne Inc. (H&P), was announced Wednesday.
As part of the deal, H&P will provide a geothermal-capable land drilling rig, while Baker Hughes will contribute technology and expertise. The rig is expected to be deployed later this year, according to a news release.
“Geothermal energy plays a critical role in meeting growing power demand by providing clean, reliable baseload generation,” Amerino Gatti, executive vice president of oilfield services & equipment for Baker Hughes, said in the release. “This collaboration reflects a deliberate step to move its development in the U.S. from concept to reality. By working together, Baker Hughes and Helmerich & Payne are helping customers advance these critical energy projects with greater confidence and deliver reliable, sustainable power.”
Investment in the geothermal energy sector is currently exploding in the U.S., having grown by at least 1,000 percent just in the last seven years, according to a recent report by Rocky Mountain Institute.
On one hand, only about 1 percent of the American energy grid currently uses geothermal, but on the other, the U.S. holds roughly 25 percent of the world’s geothermal capacity. Harnessing that power becomes even more attractive as conflicts in Russia and Iran continue to hamstring energy markets from those countries and revitalize interest in renewable energy.
Baker Hughes has been at the forefront of the geothermal boom. This new deal with H&P combines H&P’s drilling platform technology with Baker Hughes’s subsurface and energy extraction support technologies.
“This agreement underscores Helmerich & Payne’s commitment to supporting emerging energy opportunities through our drilling technologies and operational expertise,” H&P President and CEO Trey Adams added in the release. “We are pleased to collaborate with Baker Hughes to support the advancement of geothermal development in the United States.”
The deal with H&P is just one of several recent ones Baker Hughes has closed. In March, they announced support for XGS’s geothermal extraction projects in New Mexico, which are being used to meet the increasing demands of data centers in the state. Last May, Fervo Energy selected Baker Hughes to supply equipment for its flagship geothermal project in Utah.
- Houston cleantech startup seeks $200M for superhot geothermal plant ›
- Fervo Energy spotlighted by Bill Gates as geothermal’s global growth driver ›
- Fervo Energy selects Baker Hughes to supply geothermal tech for power plants ›
- Baker Hughes launches new digital platform for CCUS operations ›
- Baker Hughes to provide equipment for massive low-carbon ammonia plant ›
