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US shale giant Chesapeake Energy has formed a strategic partnership with Houston-based Criterion Energy Partners to deploy and develop technologies for geothermal energy projects. Chesapeake’s involvement in the partnership includes an investment to assist in the planning and preparation for an initial geothermal test well. The news comes as excitement builds around emerging geothermal technologies that could potentially greatly expand the availability of clean baseload power supplies. Hundreds of millions of dollars in new funding from both the private and public sectors has shined a spotlight on new approaches to geothermal, and raised hopes that the abundant “always on” energy source could one day be a key tool in global decarbonization efforts. Like other oil and gas companies, Chesapeake has identified geothermal as an attractive fit with its existing skillset and energy transition ambitions, although details of the company’s investment in Criterion have not been disclosed. Most of the interest in geothermal from the oil and gas industry so far has stemmed from the services sector, with few E&Ps publicizing their involvement to date.

Topics:
Corporate Strategy , CO2 Emissions
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