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Geothermal drilling market heats up

by Linda Hsieh, Assistant Managing Editor As oil prices reach unheard-of highs in the $140/bbl range, energy sources that have historically been considered too expensive to produce economically are getting new leases on life. Many such energy sources, like wind and solar, tend to reside far outside the realm of the oil and gas drilling industry. Geothermal energy, however, stands as one resource that holds potential opportunities for drilling contractors, especially as that industry continues to undergo a significant expansion. Geothermal produces energy off of heated fluids that reside deep inside the Earth. Just as wells must be drilled to reach oil or natural gas, geothermal wells must be drilled to reach heated fluids. As it turns out, the rigs ...

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