Source:ThinkGeoEnergy – Geothermal Energy News
Original URL:https://www.thinkgeoenergy.com/earths-energy-identifies-paralana-australia-as-primary-geothermal-development-target/
Australian geothermal developer Earths Energy (EE1) has announced the results of a Techno-Economic Feasibility Study conducted by GLJ Ltd. (GLJ) indicating that the Paralana site in South Australia is a suitable target for an Enhanced Geothermal System (EGS) development. The TEFS work now progresses to reservoir simulations, cost estimation, and economic modeling, and is on track to be completed by December 2024.
The TEFS work was done for both the Paralana and West Flinders site of EEI in South Australia, following up on a review previously done by JRG Energy that indicated that these assets have the potential for commercial electricity generation. The company has now spent more than $40 million in fieldwork and studies for these two geothermal sites.
“GLJ’s preliminary findings affirm our belief in Paralana’s potential as an Enhanced Geothermal System project. Independently validating Paralana’s permeability and stress conditions for EGS development is both significant and valuable,” said Josh Puckridge, CEO of Earths Energy.
“Momentum around EGS is building, spurred by pioneering successes in the USA, where projects in Nevada and Utah are setting the stage. Paralana stands alongside these leading efforts, and our collaboration with GLJ will showcase this further. Earths Energy is dedicated to rapidly advancing Paralana as a world-class EGS project, backed by GLJ’s expertise and our skilled team.”
Paralana as priority EGS target
GLJ’s work has confirmed that the Paralana Project, drilled to 3,685 metres with a bottom hole temperature of 171°C, has favourable characteristics for an EGS development. The TEFS has highlighted favourable permeability at Paralana, where zones of existing fractures have been interpreted from borehole image data and micro seismic monitoring during stimulation below the 150°C isotherm depth in the Paralana-2 well. In-situ stress fields with a principal horizontal stress approximately in the E-W direction were observed above the target depths, which appear to provide a favourable horizontal well drilling stress environment for EGS implementation.
The TEFS has also shown that the Flinders West licenses require additional subsurface evaluation and potentially exploration drilling to further derisk the geothermal potential for EGS.
As such, development of Paralana will be prioritised, while the Company will look at options to firm up the subsurface data available for Flinders West, including collaboration with other groups in the area.
Source: Earths Energy via ASX
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