Advanced geothermal drilling is 70% faster and 50% cheaper than 2022
In a publication announced at the Stanford Geothermal Workshop this week, Fervo said it has been able to drill a horizontal well in just 21 days. That's a 70% reduction in drilling time over its first horizontal well, which was drilled in Nevada in 2022 as part of a Google-backed effort known as Project Red. The company says this reduction in time has led to an additional reduction of costs, with the latest well coming in at US$4.8 million, down from $9.4 million.
