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Chesapeake Geothermal Investment

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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. 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. Criterion noted that Chesapeake “brings extensive experience in subsurface evaluation, drilling and completions” to the partnership. Chesapeake will have the option to participate in additional future development projects under the terms of the partnership, Criterion added.

Topics:
Emerging Technologies, Corporate Strategy , Independent E&Ps
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