Geothermal Energy Case Studies #1: Exploiting newly abandoned or late-life E&P wells

....a sustainable alternative to P&A-ing and walking away! 0

Friday, October 15, 2021, Webinar, Online

One thing we have realized is that oil & gas folk are being told that there are many skills that are transferable from oil & gas to Geothermal Energy; this may well be both true and important but it is also clear that there is inadequate understanding of the business case amongst oil & gas companies and investors ‘over here’.

One of the views that a certain UK Major is said to hold is that Geothermal Energy = Oil & Gas prices as Input, Utility prices as Output => Poor Economics.

Obviously Re-purposing (modern) E&P wells reduces the Input prices…….

Agenda

13:00

David Bamford - Director - Future Energy Partners Ltd

Welcome & Introduction


David Bamford is well known around the oil & gas industry both as an explorer and a geophysicist. He holds a Physics degree from the University of Bristol and a Ph.D in Geological Sciences from the University of Birmingham.

Since 2004, he has been a non-executive director at Tullow Oil plc, being recruited for this position especially for his exploration knowledge. He serves on the Nominations and Remuneration Committees, and was chairman of the latter, and Senior Independent Director, for 3 years prior to his retire from the board at the end of April 2014.

He joined the board of Premier Oil in May 2014.

He retired from BP plc in 2003, his last four positions being Chief Geophysicist (1990-1995), Business Unit Leader (General Manager) for first West Africa and then Norway (1995-1999), and finally Head of Exploration until 2003.

He has served on the boards of Paras Ltd, a small exploration and IS/IT consulting company in which he held 22% equity, until its sale to RPS Energy in 2008 and Welltec a/s, a Danish well engineering company, as the nominee of the private equity investor Riverside.
From 2012 to 201 he was on the board of ASX-quoted Australia Oriental Energy as a non-executive director.

He was a founder of Richmond Energy Partners, a small oil & gas research house, and several media companies that focus on the oil & gas sector, and has served as an advisor to Alliance Bernstein, Opus Executive, the Parkmead Group plc, and Kimmeridge Energy LLP. Since retiring from BP, he has undertaken asset and company valuation projects for investment banks, hedge funds and small oil companies.

Future Energy Partners Ltd
Future Energy Partners (FEP) is a unique oil and gas advisory service which prides itself on technical excellence in selected fields and supplementing business management and leadership; in the face of uncertainty.

We offer truthful, professional opinion and advice; no playback of what you already know, and no spin.

FEP was founded by 4 senior industry practitioners who consider the challenges faced by today's oil and gas environment are going to require herculean acts of leadership and technical skill in a transforming, transitioning, industry, in order to maintain an energy supply that is sustainable and even recognisable compared to recent history.

Similarly nations developing an oil and gas industry face related challenges as they seek to maximise the benefits of this new wealth-creating opportunity - in a responsible manner.

Global reach

FEP actively participates in the facilitation and conduct of seminars and webinars worldwide, for example in conjunction with its associate partner Finding Petroleum.

Our presence reaches parts of the globe, such as: the UK, the USA, Sub-Saharan Africa, with partners wherever we work.
13:10

Alan J Cohen - Director - Business Development & Partnerships - PETROLERN LLC

Profitable Geothermal Energy Generation from Reconverted Late-Stage Oil Industry Wells

Talk Description.
Authors: Alan J Cohen, Joseph Batir, Kevin Kitz, Hamed Soroush

Geothermal energy currently plays a small role in meeting the world's energy demand, and commercial production has been mainly focused on high-temperature, often volcanic formations that limit development to certain regions of the globe. For over a decade, research and discussions looked into opportunities to produce geothermal electricity and/or heat from existing lower temperature sedimentary formations, yet there is still no commercial development.

To improve the profitability of these resources, Petrolern has developed an integrated, patented screening platform to identify appropriate oil and gas wells for being converted to geothermal sources of heat and/or electricity. These existing late-stage, shut-in, or unplugged holes remove the significant cost of drilling new wells. The screening tool integrates modules defining critical parameters for the Reservoir, Borehole, Surface System, Environment, Infrastructure, and Economics, with screening tests at intermediate stages to define potential profitability for conversion of a well or group of closely spaced wells. Uncertainty of parameters and sensitivity of outcome to relevant parameters are handled through probabilistic simulation and economic viability is determined for each project.

Our projections from sample conceptual conversion projects indicate repurposing some oil and gas wells to geothermal heat and power production is profitable with an internal rate of returns (IRR) in the range of interest (7 to 27 %) to investment banks. Sample costs of produced electricity are in the range from 3 to 5 US cents per Kilowatt-hour, even without tax credits or abandonment deferrals. Co-production of hydrocarbons and geothermal energy is also feasible. Not only does the conversion of geothermal energy avoid the cost of drilling new wells and defer the cost of abandonment for the life of the geothermal system, it also indicates commitment to green energy solutions. Project costs can be kept even lower as cheaper more flexible modular power systems are tested and become commercial. These are under investigation.

Internationally recognized executive and geoscientist, Dr. Alan J Cohen serves PETROLERN LLC as Director of technology partnerships and business development for geothermal, carbon storage, and oil and gas. He has over 35 years of experience in leadership and senior advisory positions in upstream oil and gas E&P operations, green energy solutions, R&D and technology maturation in the geosciences and engineering, and in midstream. He served as Senior Executive at the US Department of Energy ($90MM budget), was CTO at two technology companies, and Chief Geophysicist at Royal Dutch Shell - North and South America. He was Adjunct Professor - Geology at University of Louisiana.

Now working technology partnerships and commercialization in: real-time subsurface monitoring, novel downhole tools, physics-based machine learning, and greener energy solutions. Has done business development and led projects on all continents in over 30 countries. Alan holds a PhD and MS (Physics) from Harvard University and BSc (Chemistry) from McGill. Patent co-inventor on de-risking the conversion of fossil energy to geothermal power or heat.

PETROLERN LLC
PETROLERN LLC is a leading-edge technology company working on subsurface solutions for carbon storage, geothermal and oil and gas projects. We conduct cutting edge R&D and execute global projects to increase our clients’ profitability yet minimizing their environmental footprint. Our green energy initiative begins with making the oil and gas industry greener by providing energy transition solutions. Our core competencies include: geomechanics, fluid mechanics, applied artificial intelligence, visualization, edge computing, and software development. We apply these skills to optimize drilling, completions, stimulation, and production plus providing high-resolution subsurface monitoring. We pursue challenging projects where we can apply our innovative solutions and problem-solving skills.
13:40

(blank) - -

Q&A followed by Close no later than 14:15



Sponsors of this event

Geothermal Energy Advancement Association
The Geothermal Energy Advancement Association (GEAA) advocates increased investment in geothermal energy and increased awareness of this sustainable source for near zero-carbon power, heat, and hot water. The Association is a not-for-profit organisation offering leadership, dialogue, and information in the energy transition debate, supporting the role of geothermal in transitioning to a world that will use less petroleum specifically and fossil fuels in general.
GEAA officially took effect on April 14.

Registered Delegates

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United Kingdom
Alice Butt
Geoscientist
Halliburton
United Kingdom
Vidar Andresen
Director
Petrodataonline
United States
Martin Cox
Director
ABerdeen Drilling Management Ltd
United Kingdom
Wally Jakubowicz
Managing Director
Hampton Data Services
United Kingdom
Carlo Buscaglia
Subsurface Team Lead
Petrofac
United Kingdom
Gordon Stove
Co-Founder & Managing Director
Adrok
United Kingdom
Isabel Florez

Horizons
United Kingdom
Mike Rego
Independent Consultant
PetroMall Ltd
United Kingdom
Ian Cloke
Chief Operating Officer & Co founder
Afentra
United Kingdom
Feargal Murphy

IGS
United Kingdom
Answa de Lange
Asset Manager
PetroSA
South Africa
William Otim-Nape
CEO
Africa Innovations Institute
Uganda
Lawrence Jackson
Senior Account Executive
IHS
United Kingdom
Lucinda Ross

PetroSA
South Africa
Patrick Barnard
Director
APT UK
United Kingdom
Mark Diaz
Director
IHS Markit
United Kingdom
Christine Roche
Manager
PGS
United Kingdom
Daiana Alsaadi

Beicip Franlab
Alejandra León
Director Latin America upstream
IHS Markit
Mexico
Frederic Yeterian
Director
Philax International (UK) Ltd
United Kingdom
Simon Berkeley
Director
Berkeley Associates
United Kingdom
Adrian Heafford
PM Seismic
IHS Markit
United Kingdom
David Pickering
Geological Consultant
Pickering Geoscience
United Kingdom
Chris Walker
Chief Geophysicist
BGP Offshore
United Kingdom
mohamed khiar
Geoscientist
IHSMARKIT
United Kingdom
JUAN SOLDO
MANAGER IN GEOPHYSICS
PLUSPETROL
Argentina
Diana Allard
Geothermal Project Engineer
BGS
United States
Ana Somoza

Ikon Science
United Kingdom
Patrick Mahue
CEO
Primecores Capital
Canada
Stephen James
Geoscience Manager
Block Energy PLC
Yoryenys Del Moro
Product Marketing MAnager
Ikon Science
United States
REINALDO RAMIREZ
Energy Technology and Operations Director
RamRei Energy
Spain
Camilo Sarmiento

Canacol Energy
Colombia
Gabriela D'Aubeterre
Manager
Ikon Science
United States
Nicholas Shaw
Director / Principal Geologist
RCGC Ltd
United Kingdom
Andy Wood
Subsurface Manager
CeraPhi Energy Ltd
United Kingdom
Kester Waters
SVP Global Services
Ikon Science Ltd
United Kingdom
Ehsan Nikjoo

RESMAN
United Kingdom
Shervin Dizaji
Geoscientist
CGG
United Kingdom
Nick Steel
Consultant
Independent
United Kingdom
Jason Canning
Principal Advisor
RPS
United Kingdom
Clare Slightam
Managing Director
Chimaera Consultants
United Kingdom
Abimbola Durogbitan
GM Geosciences
Independent Consultant/Nigerian Association of Petroleum Exolorationists UK/EUROPE COORDINATOR
United Kingdom
Gordon Taylor
Head of Subsurface
RPS Energy
United Kingdom
Wendong Wang

China University of Petroleum(East China)
China
Nick Johnson
Managing Director
JUC Ltd
United Kingdom
Murray Bainbridge
Inward Investment Specialist
Scottish Enterprise
United Kingdom
Alex Carrera
Business Deveploment
Consultant
Ecuador
Heikki Jutila
Owner
Jutila LTD
United Kingdom
Stephane Pla
sourcing / Financing
Seadrill
Norway
Bill Bartling

consultant
United States
Jules van Limborgh
managing director
Kerogen
United Kingdom
Carlos Vargas
Sr.Petrophysicist
Self Employee
Mexico
Ian Jack
Mostly Retired
Consultant
United Kingdom
James Rigg
Geoscientist
Kerogen Capital
United Kingdom
Denis MOUGENOT
Chief Geophysicist - retired as consultant
Sercel-retired
France
Robert Murphy
Consulting Geologist
Consulting Geologist
Ireland
Amanda Turner
Commercial Director
Lir Resources
United Kingdom
Aaron Lockwood
Software Sales Manager - EAME
Shearwater Geoservices
United Kingdom
David Boote

DBConsulting Ltd
United Kingdom
Richard Walker
Geophysical Advisor
Lir Resources / Consultant
United Kingdom
David Owen

Shell
United Kingdom
Raffaele Di Cuia
Technical Director
Delta Energy Limited Ltd
United Kingdom
Gareth Beamish
CTO & Subsurface Director
Lir Resources Ltd.
United Kingdom
Yang Xue

shell
Jonny Tribick
Project Geoscientist
Egdon Resources
United Kingdom
Catriona Penman
Geologist (Software)
Lloyds Register
United Kingdom
Sigve Hamilton Aspelund
Independent consultant
Sigve Hamilton Aspelund
Norway
Aurore Plougoulen

Emerson
France
David Egya

London South Bank University
United Kingdom
John Argent
VP Geoscience
Sound Energy Plc
United Kingdom
Richard Pelling
Product Manager
Emerson
United Kingdom
Alan Smith
Director
Luchelan Limited
United Kingdom
Oxana Bristowe
Director
Stand4More
United Kingdom
Daniel Flores
CEO
EPSEMIPE EIRL
Peru
Geoff Chambers
Data Scientist
Masternaut
United Kingdom
Chris Einchcomb
Advisor
STRYDE Ltd
United Kingdom
Ivan Maulana

ERCE
Singapore
Paul Dinham
Manager
MFDevCo
United Kingdom
basker murugappan
principal production technologist
Taqa Inc
United States
Peyman Moradi
Reservoir Engineer and Seismologist
ESG Solutions
Canada
Fabio Brambilla
Sr. Geoscientist
MH
Italy
Ali Misaghi
Managing director
Tavana Energy Company
Iran
Glen Burridge
Executive Director
European Federation of Geologists
United Kingdom
David Lawton
Principal Consulting Geologist/Director
Milnwood Partners Limited
United Kingdom
George Barber

Terra Energy & Resource Technologies (TERT)
Indonesia
dean maitland
director
EVS
United Kingdom
Marzena Olewczy?ska
Business Owner
MMO Consulting
Poland
Andy Harris
Sales Manager
TGS
United Kingdom
Trevor King
Geoscientist
ExExxonMobil
United States
Claire Tindle
Subsurface Manager
Mol uk
United Kingdom
Laura Kay Ethetton

The Data Diva
United States
Ian Peebles

Exprodat Consulting Ltd
United Kingdom
Robin Sutherland
Consultant
Monitor Exploration Limited
South Africa
Romerico Gonzalez
Geoscience Advisor
Thermaprime Drilling Corporation
Philippines
Karl Jeffery
Editor
Finding Petroleum / Digital Energy Journal
United Kingdom
Adrian Gregory
Principal Consultant
MORE Consultancy Ltd
United Kingdom
Anna Rundell
Sustainability and Environmental Lead
Third Energy
United Kingdom
John Leggate
Managing Partner
Flamant Technologies
United Kingdom
Markus Harting
CEO
MPP-Energy
United Arab Emirates (UAE)
Russell Hoare
Managing Director
Third Energy Trading Limited
United Kingdom
Greg Coleman
CEO
Future Energy Partners
United Kingdom
Martin Wadsworth
Director/Consultant
MWGeoData Ltd
United Kingdom
Cristina Arrieta
Geologist
Tlalli energia
Mexico
Barbara Holzweber

Gaffney Cline & Associates
Helen Turnell
Principal Consultant
NR Global Consulting Ltd
United Kingdom
Tahir Mehmood Chaudhry
Consultant Geoscientist
TMAG Oil & Gas U.K., Ltd
United Kingdom
melissa johansson
Director
Geode-Energy Ltd
United Kingdom
Alan Poole

OGA
United Kingdom
Mansoor Zoveidavianpoor
Associate Professor
Universiti Teknologi Malaysia
Malaysia
Andrew Shrager

Geodynamics Worldwide
Italy
Sabyasachi Prakash
Laboratory Scientist
OilNet Laboratories
United States
Tim Cullen
Postdoctoral Research Fellow
University of Bergen
Norway
Richard Bennett
Chairman
Getech plc
United Kingdom
harald granser
Exploration Manager
Omv
Austria
Richard Dawe
professor emeritus
uwi
United Kingdom
AMY BLOOMFIELD-CLARKE

Golder Associates
United Kingdom
Maximilian Richards
energy transition consultant
OPC
United Kingdom
Neil Ritson
CEO
Vanguard Energy Ltd
United Kingdom
Mark Cottrell
Technical Director
Golder Associates (UK) Ltd
United Kingdom
David Cox
Founder
Optykal
Canada
Giles Watts
Consultant
Watts Geoscience Consulting
United Kingdom
Jesse Nyokabi
Engineer
Green Energy ltd
Kenya
Laurence Ormerod
Chairman
Ormerod Consulting Ltd
United Kingdom
Fabio Rosas
Technical Manager
Welltec
Denmark
Serdar Kaya
MD
Grenergy LLC
Stephen Birrell
Advisor
Ossian Energy Ltd
United Kingdom
Adrian Temple-Brown
Researcher and Activist
Wiltshire Climate Alliance
United Kingdom
Bill Chmela
Program Director
GTI
United States
John Dick
Director
OSSO Ltd
United Kingdom
Richard Hood
Research Manager
Wood Mackenzie
United Kingdom
Lawrie Cowliff
Geoscientist
Halliburton
United Kingdom
David Cleverly
Geophysicist
Perenco
United Kingdom
Kellen Gunderson

Zanskar Geothermal and Minerals
United States