en.Wedoany.com Reported - Fervo Energy drilled the Sawtooth 7 well in the Cape Station Phase II project, the ninth well in this phase using the 3.0 well design, achieving a spud-to-completion time of just 21 days. The well has a measured depth of 19,448 feet, a lateral length of 7,500 feet, and a resource temperature of 460°F, setting a new company record for drilling speed in its most complex well design.
In February 2024, Fervo announced that the fastest drilling record for the Cape Station Phase I project was also 21 days, a 70% reduction from the 70-day drilling time for the first commercial horizontal well in Project Red in 2022. Now, with significantly greater depth, temperature, and lateral length compared to the Cape Phase I Fervo 2.0 well design, the Sawtooth 7 well has again achieved a 70% reduction in drilling time. This result validates Fervo's core strategic thesis: incremental learning will lead to significant productivity gains and cost reductions over time.
Tim Latimer, CEO and co-founder of Fervo, stated that the company has always believed the learning curve would enable drilling deeper and accessing hotter rock without significantly increasing drilling costs. Building on the momentum from initial Phase II drilling, the 3.0 well design will significantly increase power generation per well and improve the unit economics of future GeoBlocks™. Based on performance to date, Fervo expects Cape Phase II to achieve a cost of $5,500 per kilowatt and remains firmly committed to the target of $3,000 per kilowatt.
A comparison of well design iterations shows: 1.0 well (Project Red's first commercial well) with a measured depth of 11,220 feet, lateral length of 3,250 feet, casing of 5 inches, temperature of 350°F, and drilling time of 70 days; 2.0 well (Cape Station Phase I) with an average depth of 14,483 feet, lateral length of 5,000 feet, casing of 7 inches, temperature of 400°F, and drilling time of 21 days; 3.0 well (Cape Station Phase II Sawtooth 7) with a depth of 19,448 feet, lateral length of 7,500 feet, casing of 8 5/8 inches, temperature of 460°F, and drilling time of 21 days.
