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Eavor Demobilizes Rigs in Geretsried: What It Means for Closed-Loop Geothermal Investors, Heat Markets, and Project Risk

By Robert Buluma Alphaxioms
Eavor Demobilizes Rigs from Geretsried: What It Really Means for Closed-Loop Geothermal For three years, two drilling rigs on a farm estate near Geretsried, a Bavarian town about 40 km south of Munich, stood as the symbol of the world's most ambitious closed-loop geothermal experiment. Now in October 2026,  Eavor Technologies, the Calgary-based developer of the Eavor-Loop, has told the town and its heating utility that both rigs would leave the site . The company said keeping idle rigs and specialist services on site was costly, and that releasing them would help put the project in the strongest position to continue with Loop 2 once its commercial structure is reworked . On the surface, this is a logistics decision. Underneath, it is one of the clearest signals yet about where first-of-a-kind geothermal technology stands, and how hard it is to turn a technical proof into a bankable business. This article explains exactly what happened, what the move means and what it does not mean...
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SLB and Ormat Join Forces to Accelerate Next-Generation Geothermal Development

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By Robert Buluma Alphaxioms

A groundbreaking partnership to commercialize Enhanced Geothermal Systems (EGS) and redefine clean energy for the AI era

By: Robert Buluma

In a major leap for global clean energy innovation, SLB (NYSE: SLB) and Ormat  Technologies (NYSE: ORA) have announced a strategic partnership aimed at fast-tracking the development and deployment of integrated geothermal assets, including Enhanced Geothermal Systems (EGS)  the next frontier in geothermal technology.

Unveiled on October 27, 2025, this collaboration brings together SLB’s deep expertise in subsurface engineering and well construction with Ormat’s six-decade legacy in geothermal power plant development and operations. The goal? To unlock the Earth’s untapped heat potential and make geothermal energy accessible far beyond conventional hydrothermal hotspots.

🔥 The Future of Geothermal: Enhanced Geothermal Systems (EGS)

Traditional geothermal relies on naturally occurring steam or hot water reservoirs. EGS, however, creates artificial geothermal reservoirs by circulating water through hot dry rock formations deep underground. This revolutionary technology could enable geothermal energy generation virtually anywhere, transforming it into a globally scalable, carbon-free power source.

The U.S. Department of Energy projects that next-generation geothermal could deliver up to 90 GW by 2050, and potentially 300 GW in the United States alone — enough to power millions of homes and meet soaring demand driven by AI data centers and electrification trends.

⚙️ Key Highlights of the SLB–Ormat Partnership

  • Joint Technology & Project Development:
    The two companies will co-develop integrated geothermal systems for optimal long-term performance, merging SLB’s subsurface knowledge with Ormat’s proven power generation technologies.

  • EGS Pilot Project:
    A demonstration project at an existing Ormat site will validate commercial-scale deployment, covering all stages from design to power generation.

  • Commercial Scale-Up:
    Upon successful piloting, the partners plan to commercialize EGS globally, targeting utilities, independent power producers, and data center operators.

⚡ Driving the AI Energy Revolution

“There is an urgent need to meet the growing demand for energy driven by AI and other factors,” said Gavin Rennick, President of New Energy at SLB. “By partnering with Ormat, we will make both traditional and enhanced geothermal systems truly competitive and commercially viable.”

Doron Blachar, CEO of Ormat Technologies, echoed this sentiment: “AI-driven demand is reshaping the energy landscape. This collaboration will accelerate the deployment of scalable, sustainable EGS solutions and expand our geothermal development pipeline.”

Together, SLB and Ormat are crafting a critical blueprint for the future of clean baseload power — one that combines the reliability of geothermal with the scalability needed for a digital, AI-powered world.

🌍 Why This Matters

As the world races toward net-zero goals, geothermal energy offers an unmatched blend of reliability, sustainability, and scalability. Unlike solar or wind, it delivers 24/7 clean baseload power. With EGS technology, geothermal could finally rise to the same global prominence as other renewables — potentially becoming the cornerstone of the clean energy transition.

This ain't nothing new seeing Ormat and SLB go berserk when it comes to the heat beneath our feet as we had reported earlier on this.

The SLB–Ormat alliance signals a new era of cross-sector collaboration, proving that when oilfield innovation meets renewable expertise, the possibilities for sustainable energy are limitless.


Source:SLB

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