Posted in Gulf of Mexico, Offshore Energy - General, tagged bid rejections, bp, Lease Sale 259, sequestration on July 5, 2023| Leave a Comment »
This is a surprisingly high number of rejections given that only one Sale 257 bid was rejected and all 69 of the carbon sequestration bids were accepted (even though such bidding was not authorized).
Specifics on the Sale 259 rejections have not yet been posted, but one of the rejections was bp’s bid for Green Canyon Block 777. This is not terribly surprising given that the bp/Talos GC 777 bid was the sole Sale 257 rejection, and bp’s sale 259 bid was less than 1/3 of their Sale 257 bid.
Posted in drilling, energy, tagged Carlos Araque, drilling technology, Quaise Energy, ultradeep geothermal on July 5, 2023| Leave a Comment »
Because space requirements and intermittency limit the ultimate potential of other renewable energy super-sources, ultradeep geothermal may be the most exciting energy alternative on the horizon. However, ultradeep geothermal’s enormous potential can only be achieved if we can reliably drill deep beneath the surface and tap into superheated rock. As Quaise Energy’s Carlos Araque, formerly a Schlumberger engineer, has noted: “A lot of the challenges are the same as for oil and gas.”
This short video provides a good summary of the drilling technology that is under development.
Bud's Offshore Energy (BOE) 